The People's Bank of China has blocked Tencent Holdings Ltd and Alibaba Group from offering customers with virtual credit cards, according to a source interviewed by Bloomberg News.
Legal & Regulatory
San Francisco jury piles more fraud charges on Motionloft founder
After being arrested last month for fraud charges, Motionloft founder Jonathan Mills was indicted by a San Francisco grand jury for wire fraud and money laundering and is facing 30 years in jail.
Apple clause will prevent Dong Ngyuen from bringing back Flappy Bird name on iOS
Flappy Bird creator Dong Nguyen told Rolling Stone he is thinking of bringing back the game but that won't be easy because of a clause in Apple's developer agreement, VentureBeat reported.
Canadian Bitcoin investors file class action lawsuit against Mt. Gox and Mizuho Bank
A class action lawsuit was lodged in an Ontario Superior Court of Justice against Mt. Gox and Mizuho Bank Ltd by Bitcoin investors from Canada, Reuters reported.
US to give control of Internet's domain-name system to non-government group
The US is planning to surrender control of the system that assigns website addresses to a private group when the contract of the Internet Corporation for Assigned Names and Numbers expires next year, Bloomberg reported.
Latest News
San Francisco, US-based on-demand transportation startup Lyft announced that it will add more coverage to its ride insurance to include the time that drivers are not actively driving passengers.
Dozens of popular accounts of WeChat, the social messaging app of Tencent Holdings Ltd, were closed by Chinese authorities, Reuters reported citing Chinese media reports.
South Korean electronics giant Samsung filed a patent on September 2012 for a new method that lets users unlock the screen and activate apps and certain commands using a doodle.
The US Federal Trade Commission has begun an inquiry into the operations of nutrition and weight loss firm Herbalife, an inquiry that has long been asked for by activist investor William Ackman, Reuters reported.
Google gave the Home Office in the UK "super flagger" access to YouTube, allowing them to screen content that they feel are a national security threat, the Financial Times reported.
Tim Berners-Lee, the Father of Web, has called for an online Magna Carta that will safeguard the openness, independence and neutrality of the Internet, TechCrunch reoprted.
New Jersey has joined Arizona and Texas in preventing consumers from buying cars directly from electric car maker Tesla after the New Jersey Motor Vehicle Commission passed a rule on the matter, TechCrunch reported.
China's regulators have already given their assent for the creation of an international trading center in the free trade zone in Shanghai, Reuters reported citing the bourse's Chairman Gui Minjie.
If India's competition regulator finds Google guilty of abusing its dominant position in search in the country, it could face a fine up to $5 billion in penalties, TechCrunch reported.
