Apple defends system that will scan for illegal child abuse
Massachusetts Sen. Elizabeth Warren will propose a minimum tax on the profits of America's richest corporations. The ‘real corporate profits tax’ was a key plank in her presidential campaign alongside a ‘wealth tax’ for the wealthiest Americans. The measure would require corporations to pay a 7% tax on earnings reported to investors above $100 million.
Apple is defending its new system that scans the iCloud for illegal child abuse material. The tech giant says it will reject any demands from the government to use the technology for surveillance. Apple says its system is more private than what other companies have used to eliminate illegal child abuse images on their servers. This comes after widespread backlash from privacy advocates.
AMC is reporting the company has a loss of 71 cents per share. It is better than the expected 91 cent loss. Revenue is coming in higher than expected at $444 million. Amid the volatility with the stock price in recent months, AMC is making strides toward recovering from the COVID-19 pandemic. The movie chain is also making strides when it comes to cryptocurrency, announcing it will accept bitcoin as payment by the end of this year.