In September 2017, hackers broke into credit agency Equifax, compromising almost 150 million Social Security numbers and other personal information. Now, according to sources, under the terms of an agreement with the Federal Trade Commission, Consumer Financial Protection Bureau and most state attorneys general, Equifax will pay about $700 million to settle with these agencies as well as a nationwide consumer class-action lawsuit. The exact amount of the settlement depends on the number of consumer claims ultimately filed. Read more

In its push for more video content, Twitter is launching a new tool named LiveCut to replace its SnappyTV third-party live video-editing tool. LiveCut, two years in development and now integrated within content management platform Twitter Media Studio, is designed to help marketers and brands easily create video clips of live broadcasts, distribute them via Twitter, and monetize them through Twitter Amplify, the platform’s video ad product. SnappyTV, which Twitter acquired in 2014, will shut down December 31. Read more

Audible, the audiobook app owned by Amazon, is using machine learning to transcribe audio recordings, so listeners can also read along with the narrator. Audible is promoting it as an educational feature, but some publishers are up in arms, demanding their books be excluded because captions are “unauthorized and brazen infringements of the rights of authors and publishers.” Publishers are concerned that this will lead to fewer people buying physical or e-books if they can get the text with an Audible audiobook. Read more

Much of the focus has been on Amazon, Facebook and Google in recent weeks, obscuring the fact that Microsoft is in fact the largest tech company and the largest publicly traded company, with a market capitalization if $1+ trillion. Its quiet success continued with the company’s latest quarterly report indicating sales grew 12 percent to $33.7 billion. The company also enjoyed $13.2 billion in profits in the same quarter, in part due to $2.6 billion in one-time tax benefits and inked its “largest commercial deal ever” with AT&T. Read more

For the second time in 18 months, the European Union levied a fine on Qualcomm, this time for €242 million ($272 million). European commissioner for competition Margrethe Vestager stated that Qualcomm drove a competing supplier of baseband chips out of business, an antitrust violation. The EU started its formal investigation into Qualcomm in 2015, when U.K. chip manufacturer Icera accused it of “predatory pricing” between 2009 and 2011, to drive it out of business. Nvidia subsequently purchased Icera. Read more