For nearly 10 years, Spanish internet company Let's Gowex SA said it was making money by providing public wi-fi in cities around the world. Most of the contracts, it now emerges, never existed.
Legal & Regulatory
Class action against Facebook attracts 60,000 users
An Austrian law student said his class action challenging Facebook (FB.O) for alleged privacy violations had gathered support from 60,000 users and passed its first legal review.Max Schrems, who already has a case involving the social network pending at the European Court of Justice, is claiming damages of 500 euros ($663) per user from U.S.-listed Facebook. The $195 billion company has 1.32 billion active users.
China taps South Korea for ideas in Qualcomm antitrust case
Chinese antitrust officials have met with their South Korean counterparts to discuss violations by U.S. chipmakerQualcomm Inc (QCOM.O), sources said, as Beijing reaches out to regulators overseas to complete a case that could result in record fines at home.
After Russia targets McDonald's, businesses wonder who's next
Russia said on Thursday it was investigating dozens of McDonald's (MCD.N) restaurants, in what many businessmen said was retaliation for Western sanctions over Ukraine they fear could spread to other symbols of Western capitalism.
Argentina says proposed debt swap aims to protect investors
Argentina's plan for making payments on its sovereign bonds via a local bank aims to protect the vast majority of creditors who participated in two debt restructurings, Cabinet chief Jorge Capitanich said on Wednesday.
Latest News
Security researchers at Kaspersky Lab said they have uncovered a cyber espionage operation that successfully penetrated two spy agencies and hundreds of government and military targets in Europe and the Middle East since the beginning of this year.
Chinese authorities say they have blocked messaging apps KakaoTalk and Line as part of efforts to fight terrorism,South Korea said on Thursday, the first official explanation of service disruptions in China that began a month ago.
In recent years, there has been much discussion in the business and legal communities about Non-Practicing Entities, a.k.a. patent trolls, and the ills and costs they can often impose on companies large and small.
Israeli-company EndyMed Ltd has reached an agreement with the Chinese OHMK Medical Technology, which will acquire 47.93 million EndyMed shares (28.94 percent share capital and voting rights), for $7 million.
Wall Street banks have found a U.S. review of their junk-rated loans to have yielded similar results to last year, easing some concern among bankers about a crackdown on one of their most lucrative businesses.
Argentina's Cabinet chief Jorge Capitanich said on Friday the government held no positive expectations for a court hearing in New York later in the day that will discuss the South American country's debt default.
Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, though debt insurance prices on Thursday suggested investors believed a deal could eventually be reached.
The United States said on Thursday it was hopeful that differences between India and much of the rest of the world over a major trade agreement could be resolved in time, with only hours remaining before the deal has to be signed.
Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing to either cut a deal by the end of the day with "holdout" investors suing it or win more time from a U.S. court to reach a settlement.
