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Ken Fritz Built a $1 Million Stereo. The Real Cost Was Unfathomable.

Tue, 2024-01-16 18:00
Ken Fritz turned his home into an audiophile's dream -- the world's greatest hi-fi. What would it mean in the end? From a report: Ken Fritz was years into his quest to build the world's greatest stereo when he realized it would take more than just gear. It would take more than the Krell amplifiers and the Ampex reel-to-reel. More than the trio of 10-foot speakers he envisioned crafting by hand. And it would take more than what would come to be the crown jewel of his entire system: the $50,000 custom record player, his "Frankentable," nestled in a 1,500-pound base designed to thwart any needle-jarring vibrations and equipped with three different tone arms, each calibrated to coax a different sound from the same slab of vinyl. "If I play jazz, maybe that cartridge might bloom a little more than the other two," Fritz explained to me. "On classical, maybe this one." No, building the world's greatest stereo would mean transforming the very space that surrounded it -- and the lives of the people who dwelt there. The faded photos tell the story of how the Fritz family helped him turn the living room of their modest split-level ranch on Hybla Road in Richmond's North Chesterfield neighborhood into something of a concert hall -- an environment precisely engineered for the one-of-a-kind acoustic majesty he craved. In one snapshot, his three daughters hold up new siding for their expanding home. In another, his two boys pose next to the massive speaker shells. There's the man of the house himself, a compact guy with slicked-back hair and a thin goatee, on the floor making adjustments to the system. He later estimated he spent $1 million on his mission, a number that did not begin to reflect the wear and tear on the household, the hidden costs of his children's unpaid labor.

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Apple Tops Samsung For First Time in Global Smartphone Shipments

Tue, 2024-01-16 17:20
For the first time ever, Apple beat out Samsung to ship the most smartphones in a year according to IDC's Worldwide Quarterly Mobile Phone Tracker. From a report: Although IDC cautions that its data is preliminary and subject to change, a second research agency, Canalys, also has Apple taking its top spot for all of 2023. IDC has Apple's total mobile shipments at 234.6 million, versus 226.6 million for Samsung. Xiaomi, Oppo, and Transsion round out the top five with 145.9, 103.1 and 94.9 million smartphones shipped, respectively. IDC notes that the last time Samsung wasn't on top of the annual board was 13 years ago in 2010. Back then Apple didn't even feature in the top five. Instead it was Nokia in first place, Samsung in second, LG Electronics in third, ZTE in fourth, and Research in Motion (manufacturers of BlackBerry devices) in fifth.

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CEOs Say Generative AI Will Result in Job Cuts This Year

Tue, 2024-01-16 16:40
A quarter of global chief executives expect the deployment of generative AI to lead to headcount reductions of at least 5 percent this year, according to a survey unveiled as world and business leaders gathered in Davos, Switzerland. FT: Industries led by media and entertainment, banking, insurance, and logistics were most likely to predict job losses because of cutting-edge AI tools, according to the poll of top directors conducted by PwC ahead of this week's World Economic Forum. Engineering and construction firms were least likely to anticipate cuts because of automation, alongside technology companies. Some 46 percent of those surveyed said they expect the use of generative AI -- systems that can spew out humanlike text, images, and code in seconds -- to boost profitability in the next 12 months, the survey added. However, 47 percent said the technology will deliver little or no change. The findings, based on interviews with 4,702 company chiefs spread across 105 countries, point to the far-reaching impacts that AI models are expected to have on economies and societies, a topic that will feature prominently at the annual meetings.

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Supreme Court Rejects Apple-Epic Games Legal Battle

Tue, 2024-01-16 15:47
The U.S. Supreme Court on Tuesday declined to hear a challenge by Apple to a lower court's decision requiring changes to certain rules in its lucrative App Store, as the justices shunned the lengthy legal battle between the iPhone maker and Epic Games, maker of the popular video game "Fortnite." Reuters: The justices also turned away Epic's appeal of the lower court's ruling that Apple's App Store policies limiting how software is distributed and paid for do not violate federal antitrust laws. The justices gave no reasons for their decision to deny the appeals. In a series of posts on X, Epic CEO Tim Sweeney wrote: The Supreme Court denied both sides' appeals of the Epic v. Apple antitrust case. The court battle to open iOS to competing stores and payments is lost in the United States. A sad outcome for all developers. Now the District Court's injunction against Apple's anti-steering rule is in effect, and developers can include in their apps "buttons, external links, or other calls to action that direct customers to purchasing mechanisms, in addition to IAP." As of today, developers can begin exercising their court-established right to tell US customers about better prices on the web. These awful Apple-mandated confusion screens are over and done forever. The fight goes on. Regulators are taking action and policymakers around the world are passing new laws to end Apple's illegal and anticompetitive app store practices. The European Union's Digital Markets Act goes into effect March 7.

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Adobe's New AI-powered Premiere Pro Features Eradicate Boring Audio Editing Tasks

Tue, 2024-01-16 15:20
Adobe has introduced new AI features to Premiere Pro to streamline audio editing workflows. Updates in the public beta launching Tuesday include interactive fade handles for quicker custom audio transitions, and enhanced speech correction tools to improve dialogue quality. Other additions are AI-powered tagging that automatically identifies and labels audio clips by category, reducing time spent manually locating editing tools. Redesigned clip badges also aim to speed up identifying and applying audio effects. The updates ultimately target reducing repetitive editing tasks and giving users easier access to common audio editing functions directly in Premiere Pro's main timeline interface. The Verge adds: Additional quality-of-life improvements being added to the Premiere Pro beta include having waveforms (the graphical representation of sound patterns) automatically resize when track height is adjusted in the editing timeline, and updated colors for clips that make them easier to see. These should grant editors more control over how their timeline can be visually customized to achieve a layout that best complements their personal workflow.

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Chip-Software Firm Synopsys Agrees To Buy Ansys for $35 Billion

Tue, 2024-01-16 14:40
Synopsys, a chip-design company, agreed to acquire software developer Ansys for about $35 billion in enterprise value. From a report: Ansys shareholders will receive $197 in cash and 0.345 shares of Synopsys stock per share, according to an announcement by the companies Tuesday. The takeover of Ansys is one of the largest transactions globally of the past 12 months and provides an early boost for dealmakers in 2024 as they seek to move on from a lackluster period of mergers and acquisitions activity. Synopsys, based in Sunnyvale, California, is one of a few major companies that make software used to design semiconductors, competing primarily with Cadence Design Systems Inc.

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Ubisoft Wants You To Be Comfortable Not Owning Your Games

Tue, 2024-01-16 14:00
With the pre-release of Prince of Persia: The Lost Crown started, Ubisoft has chosen this week to rebrand its Ubisoft+ subscription services, and introduce a PC version of the "Classics" tier at a lower price. And a big part of this, says the publisher's director of subscriptions, Philippe Tremblay, is getting players "comfortable" with not owning their games. Kotaku: It's hard to keep up with how often Ubisoft has rebranded its online portals for its games, with Uplay, Ubisoft Game Launcher, Ubisoft Connect, Uplay+, Uplay Passport, Ubisoft Club, and now Ubisoft+ Premium and Ubisoft+ Classics, all names used over the last decade or so. It's also seemed faintly bewildering why there's a demand for any of them, given Ubisoft released only five non-mobile games last year. However, a demand there apparently is, says Tremblay in an interview with GI.biz. He claims the company's subscription service had its biggest ever month October 2023, and that the service has had "millions" of subscribers, and "over half a billion hours" played. [...] What's more chilling about all this, however, is when Tremblay moves on to how Ubisoft wishes to see a "consumer shift," similar to that of the market for CDs and DVDs, where people have moved over to Spotify and Netflix, instead of buying physical media to keep on their own shelves. Given that most people, while being a part of the problem (hello), also think of this as a problem, it's so weird to see it phrased as if some faulty thinking in the company's audience. He said: "One of the things we saw is that gamers are used to, a little bit like DVD, having and owning their games. That's the consumer shift that needs to happen. They got comfortable not owning their CD collection or DVD collection. That's a transformation that's been a bit slower to happen [in games]. As gamers grow comfortable in that aspect... you don't lose your progress. If you resume your game at another time, your progress file is still there. That's not been deleted. You don't lose what you've built in the game or your engagement with the game. So it's about feeling comfortable with not owning your game."

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The World Could Get Its First Trillionaire Within 10 Years

Tue, 2024-01-16 13:00
An anonymous reader quotes a report from the Associated Press: The world could have its first trillionaire within a decade, anti-poverty organization Oxfam International said Monday in its annual assessment of global inequalities timed to the gathering of political and business elites at the Swiss ski resort of Davos. Oxfam, which for years has been trying to highlight the growing disparities between the super-rich and the bulk of the global population during the World Economic Forum's annual meeting, reckons the gap has been "supercharged" since the coronavirus pandemic. The group said the fortunes of the five richest men -- Tesla CEO Elon Musk, Bernard Arnault and his family of luxury company LVMH, Amazon founder Jeff Bezos, Oracle founder Larry Ellison and investment guru Warren Buffett -- have spiked by 114% in real terms since 2020, when the world was reeling from the pandemic. Oxfam's interim executive director said the report showed that the world is entering a "decade of division." "We have the top five billionaires, they have doubled their wealth. On the other hand, almost 5 billion people have become poorer," Amitabh Behar said in an interview in Davos, Switzerland, where the forum's annual meeting takes place this week. "Very soon, Oxfam predicts that we will have a trillionaire within a decade," Behar said, referring to a person who has a thousand billion dollars. "Whereas to fight poverty, we need more than 200 years." If someone does reach that trillion-dollar milestone -- and it could be someone not even on any list of richest people right now -- he or she would have the same value as oil-rich Saudi Arabia. [...] To calculate the top five richest billionaires, Oxfam used figures from Forbes as of November 2023. Their total wealth then was $869 billion, up from $340 billion in March 2020, a nominal increase of 155%. For the bottom 60% of the global population, Oxfam used figures from the UBS Global Wealth Report 2023 and from the Credit Suisse Global Wealth Databook 2019. Both used the same methodology. Some of the measures Oxfam said should be considered to reduce global inequality include the permanent taxation of the wealthiest in every country, more effective taxation of big corporations and a renewed drive against tax avoidance. "To end extreme inequality, governments must radically redistribute the power of billionaires and corporations back to ordinary people," reports Oxfam. "A more equal world is possible if governments effectively regulate and reimagine the private sector."

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Bluesky Launches RSS Feeds

Tue, 2024-01-16 10:00
Bluesky, the Twitter alternative backed by Twitter co-founder and CEO Jack Dorsey, has released its new RSS feeds. openrss.org reports: The link to a user's RSS feed is quite lengthy, making it not so easy to remember, and you can't really tell which user's profile an RSS feed is for just by looking at it. Here's the RSS feed link for Bluesky's CEO Jay Graber, for example: https://bsky.app/profile/did:plc:oky5czdrnfjpqslsw2a5iclo/rss. But thankfully, this doesn't matter much, because they're embedded on each user's profile on the Bluesky website. This makes each user's RSS feed automatically discoverable by any RSS reader app. You can simply copy and paste the link to a user's profile into the app, and it will find the user's RSS feed for you automatically. Some RSS apps will even allow you to get a Bluesky user's RSS feed simply by typing their username in the search. This setup also works well with RSS browser extensions. So if you're using one with RSS detection, it will automatically detect a user's RSS feed after visiting their Bluesky profile in your browser.

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Japan Startup Eyes Fusion Laser To Shoot Down Space Junk From Ground

Tue, 2024-01-16 07:00
Japanese startup EX-Fusion plans to eliminate small pieces of space junk with laser beams fired from the ground. Nikkei Asia reports: EX-Fusion stands apart in that it is taking the ground-based approach, with the startup tapping its arsenal of laser technology originally developed in pursuit of fusion power. In October, EX-Fusion signed a memorandum of understanding with EOS Space Systems, an Australian contractor that possesses technology used to detect space debris. EX-Fusion plans to place a high-powered laser inside an observatory operated by EOS Space outside of Canberra. The first phase will be to set up laser technology to track debris measuring less than 10 cm. Pieces of this size have typically been difficult to target from the ground using lasers. For the second phase, EX-Fusion and EOS Space will attempt to remove the space debris by boosting the power of the laser beams fired from the surface. The idea is to fire the laser intermittently against the debris from the opposing direction of its travel in order to slow it down. With a decreased orbiting speed, the debris will enter the Earth's atmosphere to burn up. High-powered lasers are often associated with weapons that blast objects into smithereens. Indeed, the EOS Space group supplies laser weapon systems used to destroy drones. But lasers designed to remove space debris are completely different from weapon-grade lasers, EOS Space's executive vice president James Bennett said during a visit to Japan in November. Current laser weaponry often uses fiber lasers, which are capable of cutting and welding metal and can destroy targets like drones through heat created from continuous firing. Capturing and removing space junk instead involves diode-pumped solid-state (DPSS) lasers, which are pulsed to apply force to fast moving debris, stopping it like a brake. EX-Fusion's signature laser fusion process also involves DPSS lasers, which strike the surface of a hydrogen fuel pellet just millimeters in diameter, compressing it to trigger a fusion reaction. This makes space debris removal a useful test along the path to commercializing the fusion technology.

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World's First Floating Offshore Wind Farm To Be Taken Offline For Up To 4 Months

Tue, 2024-01-16 03:30
An anonymous reader quotes a report from Electrek: The world's first floating offshore wind farm, Hywind Scotland, is coming offline for three to four months for "heavy maintenance." Hywind Scotland's operator, Norwegian power giant Equinor, says that operational data has indicated that its wind turbines need work. The pilot project has been in operation since 2017. The five Siemens Gamesa turbines will be towed to Norway this summer. An Equinor spokesperson said, "This is the first such operation for a floating farm, and the safest method to do this is to tow the turbines to shore and execute the operations in sheltered conditions." Norwegian contractor Wergeland Group will undertake the work. The spokesperson added, "Wergeland is the closest port with offshore wind experience and sufficient water depth that can service these turbines." As the world's first floating offshore wind farm, Hywind Scotland has trailblazed for much larger floating wind farms now in the pipeline. Its five floating wind turbines have a total capacity of 30 megawatts (MW). It generates enough electricity to power the equivalent of 34,000 households in the UK. Each turbine's maximum height, base to turbine, is 253 meters (830 feet). [...] Equinor said in December 2022, when Hywind Scotland turned five, that it was the world's best-performing offshore wind farm, achieving a capacity factor of 54% over its five years of operations.

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GTA 5 Actor Goes Nuclear On AI Company That Made Voice Chatbot of Him

Tue, 2024-01-16 02:02
Rich Stanton reports via PC Gamer: Ned Luke, the actor whose roles include GTA 5's Michael De Santa, has gone off on an AI company that released an unlicensed voice chatbot based on the character, and succeeded in having the offending bot nuked from the internet. AI company WAME had tweeted a link to its Michael chatbot on January 14 along with the text: "Any GTA fans around here? Now take your gaming experience to another level. Try having a realistic voice conversation with Michael De Santa, the protagonist of GTA 5, right now!" Unfortunately for WAME, it quickly attracted the attention of Luke, who does not seem like the type of man to hold back. "This is fucking bullshit WAME," says Luke (though I am definitely hearing all this in Michael's voice). "Absolutely nothing cool about ripping people off with some lame computer estimation of my voice. Don't waste your time on this garbage." Luke also tagged Rockstar Games and the SAG-AFTRA union, since when the chatbot and tweets promoting it have been deleted. Fellow actors including Roger Clark weighed in with sympathy about how much this kind of stuff sucks, and our boy wasn't done by a long shot: "I'm not worried about being replaced, Roger," says Luke. "I just hate these fuckers, and am pissed as fuck that our shitty union is so damn weak that this will soon be an issue on legit work, not just some lame douchebag tryna make $$ off of our voices." Luke is here referring to a recent SAG-AFTRA "ethical AI" agreement which has gone down with some of its members like a cup of cold sick. Musician Marilou A. Burnel (not affiliated with WAME) pops up to suggest that "creative people make remarkable things with AI, and the opposite is also true." "Not using my voice they don't," says Luke. WAME issued a statement expressing their "profound understanding and concern." "This incident has highlighted the intricate interplay between the advancement of AI technology and the ethical and legal realms," says WAME. "WAME commits to protecting the rights of voice actors and creators while advancing ethical AI practices."

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OpenAI Unveils Plans For Tackling Abuse Ahead of 2024 Elections

Tue, 2024-01-16 01:25
Sara Fischer reports via Axios: ChatGPT maker OpenAI says it's rolling out new policies and tools meant to combat misinformation and abuse ahead of 2024 elections worldwide. 2024 is one of the biggest election years in history -- with high-stakes races in over 50 countries globally. It's also the first major election cycle where generative AI tools will be widely available to voters, governments and political campaigns. In a statement published Monday, OpenAI said it will lean into verified news and image authenticity programs to ensure users get access to high-quality information throughout elections. The company will add digital credentials set by a third-party coalition of AI firms that encode details about the origin of images created using its image generator tool, DALL-E 3. The firm says it's experimenting with a new "provenance classifier" tool that can detect AI-generated images that have been made using DALL-E. It hopes to make that tool available to its first group of testers, including journalists, researchers and other tech platforms, for feedback. OpenAI will continue integrating its ChatGPT platform with real-time news reporting globally, "including attribution and links," it said. That effort builds on a first-of-its-kind deal announced with German media giant Axel Springer last year that offers ChatGPT users summaries of select global news content from the company's outlets. In the U.S., OpenAI says it's working with the nonpartisan National Association of Secretaries of State to direct ChatGPT users to CanIVote.org for authoritative information on U.S. voting and elections. Because generative AI technology is so new, OpenAI says it's still working to understand how effective its tools might be for political persuasion. To hedge against abuse, the firm doesn't allow people to build applications for political campaigning and lobbying, and it doesn't allow engineers to create chatbots that pretend to be real people, such as candidates. Like most tech firms, it doesn't allow users to build applications for its ChatGPT platform that deter people from participating in the democratic process.

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Google Is No Longer Bringing the Full Chrome Browser To Fuchsia

Tue, 2024-01-16 00:45
Google has formally discontinued its efforts to bring the full Chrome browser experience to its Fuchsia operating system. 9to5Google reports: In 2021, we reported that the Chromium team had begun an effort to get the full Chrome/Chromium browser running on Google's in-house Fuchsia operating system. Months later, in early 2022, we were even able to record a video of the progress, demonstrating that Chromium (the open-source-only variant of Chrome) could work relatively well on a Fuchsia-powered device. This was far from the first time that the Chromium project had been involved with Fuchsia. Google's full lineup of Nest Hub smart displays is currently powered by Fuchsia under the hood, and those displays have limited web browsing capabilities through an embedded version of the browser. In contrast to that minimal experience, Google was seemingly working to bring the full might of Chrome to Fuchsia. To observers, this was yet another signal that Google intended for Fuchsia to grow beyond the smart home and serve as a full desktop operating system. After all, what good is a laptop or desktop without a web browser? Fans of the Fuchsia project have anticipated its eventual expansion to desktop since Fuchsia was first shown to run on Google's Pixelbook hardware. However, in the intervening time -- a period that also saw significant layoffs in the Fuchsia division -- it seems that Google has since shifted Fuchsia in a different direction. The clearest evidence of that move comes from a Chromium code change (and related bug tracker post) published last month declaring that the "Chrome browser on fuchsia won't be maintained."

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FedEx Announces Its Own Commerce Platform For Merchants

Tue, 2024-01-16 00:02
An anonymous reader quotes a report from TechCrunch: Logistics company FedEx announced its own commerce platform called FDX today. The platform will likely compete against Amazon by offering merchants services like demand generation, fulfillment, tracking, and post-purchase experiences including returns. The company said that FDX is currently in private preview with plans for a wider launch in fall 2024. Businesses can register their interest in trying it out through a form. The company didn't mention any brands that are part of the pilot program. FedEx's announcement has a lot of marketing buzzwords including "data-driven," "digitally-led" and "end-to-end e-commerce solution for businesses of all sizes" but is thin on details like how it will compete with existing platforms. The company said that merchants could use FedEx's services such as ShopRunner -- an e-commerce platform it acquired in 2020 -- to reach customers, show estimated delivery time on websites, handle carts, track packages, record the carbon emission impact of deliveries, and manage returns. Further reading: Amazon Tops UPS and FedEx To Become Biggest US Delivery Business

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AI To Impact 60% of Advanced Economy Jobs, Says IMF Chief

Mon, 2024-01-15 23:20
A new report from the International Monetary Fund (IMF) says artificial intelligence will impact 60% of jobs in advanced economies. That number "goes down to 40 percent for emerging markets, 26 percent for low-income countries," added IMF Managing Director Kristalina Georgieva. Overall, almost 40 percent of global employment is exposed to AI, notes the report. Agence France-Presse (AFP) reports: The IMF report notes that half of the jobs impacted by AI will be negatively affected, while the rest may actually benefit from enhanced productivity gains due to AI. "Your job may disappear altogether -- not good -- or artificial intelligence may enhance your job, so you actually will be more productive and your income level may go up," Georgieva told AFP. While AI will initially have a lower impact on emerging markets and developing economies, they are also less likely to benefit from the advantages of the novel technology, according to the IMF. "This could exacerbate the digital divide and cross-country income disparity," the report continued, adding that older workers are likely to be more vulnerable to the change brought about by AI. The IMF sees an important opportunity for policy prescriptions to help address these concerns, Georgieva told AFP. "We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present," she said. "In other words, embrace it, it is coming," she added. "So artificial intelligence, yes, a little scary. But it is also a tremendous opportunity for everyone."

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'Technical Glitch' In Payroll Software Sparks Riots In Papua New Guinea

Mon, 2024-01-15 22:40
Papua New Guinea declared a two-week state of emergency following riots and multiple deaths, triggered by a payroll system error that incorrectly applied higher tax rates to government employees' salaries. The Register reports: The pacific nation recently extended COVID-era tax reductions into 2024, but the payroll system used for government employees was not configured correctly and in the first pay run of 2024 reverted to older and higher tax rates. Government workers were therefore taxed at a higher rate and their pay packets were around $100 less than expected -- about half the pay for many employees. That situation was misinterpreted as a surprise tax hike and some workers, including Police, went on strike to protest the situation. Some saw the absence of law enforcement as an opportunity, and riots quickly spread across the city, accompanied by looting. Prime Minister James Marape described the situation as a "technical glitch," before later declaring a state of emergency that has seen troops stationed in the capital to restore order. Commissioner general of the Internal Revenue Commission, Sam Koin, apologized "for the loss of lives and properties during these regrettable and avoidable incidents."

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YouTube Begins New Wave of Slowdowns For Users With Ad Blockers Enabled

Mon, 2024-01-15 22:05
An anonymous reader quotes a report from 9to5Google: YouTube recently started slowing down its entire site whenever ad blockers are used. A new wave of slowdowns is hitting users, with the only resolutions being disabling the ad blocker or upgrading to premium. To combat the increasing frequency of ads on YouTube, people have employed the use of ad blockers for years. According to YouTube, that method of avoiding ads is deemed a violation of the terms of service. Of course, pre-video ads are a huge source of income for the service, and the only way to avoid them without the use of a third-party application is to pay YouTube directly for premium. YouTube has since started discouraging the use of ad blockers in a couple of ways. The first is with a pop-up message that reads, "Ad blockers violate YouTube's Term of Service." The message then suggests you turn off your ad blocker. The user is not allowed to continue watching without doing so. The second method is one that's now starting to roll out to more users. YouTube has recently started slowing the entire site when an ad blocker is being used, referring to it as "suboptimal viewing." According to a post on Reddit, multiple users have noted that YouTube has become laggy and unresponsive, seemingly all of a sudden. It was quickly discovered that disabling whichever ad blocker is being used immediately revitalizes the site.

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Workplace Wellness Programs Have Little Benefit, Study Finds

Mon, 2024-01-15 21:20
An Oxford researcher measured the effect of popular workplace mental health interventions, and discovered little to none. From a report: Employee mental health services have become a billion-dollar industry. New hires, once they have found the restrooms and enrolled in 401(k) plans, are presented with a panoply of digital wellness solutions, mindfulness seminars, massage classes, resilience workshops, coaching sessions and sleep apps. These programs are a point of pride for forward-thinking human resource departments, evidence that employers care about their workers. But a British researcher who analyzed survey responses from 46,336 workers at companies that offered such programs found that people who participated in them were no better off than colleagues who did not. The study, published this month in Industrial Relations Journal, considered the outcomes of 90 different interventions and found a single notable exception: Workers who were given the opportunity to do charity or volunteer work did seem to have improved well-being. Across the study's large population, none of the other offerings -- apps, coaching, relaxation classes, courses in time management or financial health -- had any positive effect. Trainings on resilience and stress management actually appeared to have a negative effect.

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Verizon To Keep Charging Controversial Fee Despite $100 Million Settlement

Mon, 2024-01-15 20:40
Verizon has agreed to pay $100 million to settle a class-action lawsuit over its monthly "Administrative and Telco Recovery Charge." The telecom giant will distribute the funds to customers who submit claims, with individuals receiving up to $100 each. Though admitting no wrongdoing, Verizon said it "continues to deny that it did anything wrong." The company defended its right to impose the charge, which was recently raised from $1.95 to $3.30 per month per line, and warned it may increase the fee again in the future. Settlement emails are still going out to eligible customers, who have until April 15 to file.

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