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Companies often give out credit cards to their employees which can be used to deal with prospective clients. Now this may include your regular wining and dining and perhaps no eyebrows would be raised. However as this IT company’s CEO found out that if you go beyond wining and dining then there are severe consequences. A CEO of US-based tech startup has allegedly been fired after he spent vast sums of money at strip clubs. According to a report by Bloomberg, Eric Gilmore, CEO of Turvo spent over $75,000 at “adult entertainment venues” using company credit cards. Another report by Business Insider said that the money was spent over a period of three years. The expenses came to light when the company’s chief financial officer reviewed company credit card expense reports. The total expenses incurred by Gilmore on the company’s credit card were in excess of $1,25,000 Gilmore filed a case against Turvo in August but interestingly he didn’t deny claims … [Read more...] about IT company CEO fired after allegedly spending over $75,000 at strip clubs

Facebook has joined hands with top retailers who are sending the social networking giant data on what the customers are buying in retail stores. Facebook, in turn, is targeting those customers with specified ads. Not just online shopping, Facebook is able to track what customers buy in stores and target those customers with ads, according to a Business Insider report. Retail companies are sending Facebook "names, phone numbers and email addresses attached to what products people have purchased, which are then used to target people with those businesses' ads". Facebook makes almost all its money by selling ads. In the third quarter (July-September) this year, Facebook's revenue was $17.6 billion and ads contributed a whopping $17.3 billion of the total revenue. The company said this is a "standard" practice for the industry. "Retailers are able to reach their customers with ads on Facebook by sharing offline events, like an in-store purchase," a company spokesperson was quoted as … [Read more...] about Facebook tracks in-store shopping, targets users with ads: Report

Trade groups representing major technology companies and advocacy groups asked a U.S. appeals court to reconsider its October ruling that largely upheld the 2017 repeal of landmark net neutrality rules. The Federal Communications Commission in December 2017 reversed Obama-era rules prohibiting internet service providers (ISPs) from blocking or throttling traffic, or offering paid fast lanes, a blow to large tech companies and consumer groups that had championed net neutrality. In petitions filed with the U.S. Court of Appeals for the District of Columbia on Friday, the Computer & Communications Industry Association, internet trade group INCOMPAS and various advocacy groups asked the three-judge panel to rehear the case or the full appeals court to take up the issue. "The decision presents an issue of exceptional importance, as it affirms the reversal of U.S. policies promoting the open Internet, and the repeal of the FCC's 2015 net neutrality rules," said one of the … [Read more...] about Tech industry asks US court to reconsider net neutrality ruling