Good morning, Austin! We have scrolled the internet to bring you the latest in tech news. Here’s what’s happening:
Uber strips power from ousted CEO Travis Kalanick
Uber has stripped power from its founder and former CEO, Travis Kalanick, as part of an ongoing struggle to move past a scandal-plagued mess at the company.
The ride-hailing giant's directors unanimously approved a host of changes to the way Uber will be run. Among them, the already massive board of 11 will increase by six members. Also, board members will all vote on an equal scale.
The move paves the way for Uber to proceed with a major investment deal from SoftBank Group, which requires board approval.
Europe hits Amazon with a bill of nearly $300 million
Amazon has been ordered to pay $294 million in back taxes in Europe after a European Commission investigation found that the company had an illegal tax deal in Luxembourg.
The Commission found that Luxembourg had breached its rules on state aid by allowing Amazon's tax-minimizing setup since 2003. The heart of the problem is "transfer pricing," in which one Amazon subsidiary will charge another subsidiary for goods or services.
The result is that Amazon's taxable profits will sit in the country with the lowest corporate tax rate. It is legal under European Union law as long the prices being charged by the group companies stack up with the market price.
Silicon Valley’s race gap is getting worse, new research shows
Despite pledges from technology companies to crack the minority ceiling, Silicon Valley has a race problem and it's getting worse.
Black and Hispanic representation is declining even as strides have been made in closing the gender gap in San Francisco Bay Area technology companies, according to new research published Tuesday by the nonprofit Ascend Foundation, which advocates for Asians in business.
The employment data from 2007 to 2015 examined by the Ascend Foundation showed that people of color are being denied opportunities from the entry level to the executive suite and are losing ground in the tech industry, according to Buck Gee, a former vice president and general manager at Cisco Systems who is an Ascend executive advisor and a study co-author.
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