Offshore

16/08/2021

Part 2 of our feature on the Biden administration's moves to rein in the power of the tech giants:

"Antitrust barely scratches the surface in addressing the source of the tech giants' power. It looks to the past for a remedy to a problem we have never encountered before – the fact that these firms profit by collecting human experience and monetising predictions about our future behaviour.

"Alongside strong antitrust measures, challenging Big Tech’s Big Four requires transformative change in other areas – starting with privacy and intellectual property."

Read part one of this two-part series here: Is Biden prepared to break up Big Tech? Since the late 1970s the US courts have pared back the meaning of the underpinning antitrust laws – the Sherman A…

16/08/2021

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14/08/2021

The world’s biggest banks are facilitating money-laundering by treating suspicious transaction reports as a “permission slip” to continue enabling criminal activity.

The UN estimates that 2.7% of global GDP is laundered annually through the international financial system, around $2.4 trillion.

One of the key revelations of the FinCEN files is that the world’s biggest banks are facilitating global money-laundering by treating suspicious transaction reports as a “permission sli…

13/08/2021

Australia: Union survey of essential workers highlights Covid-19 risks as employers put profits over human health

The Australian Manufacturing Workers’ Union (AMWU) NSW & ACT branch published a report, An Emergency for Essential Workers, on August 5, 2021. The report was based on a survey of members …

10/08/2021

The most important signal in Biden's Executive Order is that it acknowledges the dynamics of surveillance capitalism – without actually using the term.

It commits the administration to meeting the "challenges posed by serial mergers, the acquisition of nascent competitors, the aggregation of data, unfair competition in attention markets, the surveillance of users, and the presence of network effects”

The international media treated US President Joe Biden’s Executive Order on ‘Promoting Competition in the American Economy’, issued on July 9, as a declaration of war on Big Tech’s Big Four – Amazo…

10/08/2021

Offshore is now live! Click on the link below to check out the initial articles on the site, including a two-piece feature on the Biden administration's moves to rein in the Big Tech monopolies
https://offshore.watch

Finance, tech & power from a left perspective