The U.S. consumer finance watchdog has slapped a $25 million fine on PayPal, Inc., the online payment unit of ebay, Inc., for illegally signing up and billing tens of thousands of consumers for its online credit product, PayPal Credit, formerly known as Bill Me Later. It did this without the consumers knowledge or consent and failed to address disputes when they complained.
Apple Inc. has updated the 15-inch MacBook Pro with Retina Display, adding the fifth-generation Intel processors and the pressure-sensitive Force Touch trackpad. The company also introduced a cheaper version of the 27-inch iMac with Retina 5K display.
Verizon Communications Inc. (VZ) Tuesday announced an agreement to purchase AOL Inc. (AOL), a key player in the digital content and advertising platforms space, for $50 per share, at an estimated total value of around $4.4 billion. The deal, which will help the telecom giant build digital and video platforms, is expected to close this summer.
With green technology and solar energy growing buzz words in the industry, Panasonic is taking steps to expand its production of solar panels. The company said this week that it will spend 9.5 billion yen to expand production lines at two factories in Japan. The move will add 150 megawatts a year in combined capacity.