Roundup: Ban on Digital Doppelganger Passport, AMC Gone, Wells Fargo Worried About Loan Defaults, Apple Tracking Looted iPhones Etc

News Roundup

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News Roundup

This is a roundup of news that I have come across during the day. Here you can read about Germany bans digital doppelganger passport photos, AMC has ‘substantial doubt’ it can remain in business, Wells Fargo stops making loans to most independent car dealerships, Bank of America pledges $1 billion to fight racial inequality and Apple tracking looted iPhones.

Germany bans digital doppelganger passport photos

Germany will outlaw the ‘morphing’ of passport photos, in which pictures of two people are digitally combined, making it possible to assign multiple identities to a single document.

AMC Theatres has ‘substantial doubt’ it can remain in business

The theater chain, which closed its theaters earlier this year, expects to have lost between $2.1 billion and $2.4 billion in the first quarter. The company also said that its revenue fell to $941.5 million, which was down roughly 22% from $1.2 billion in the same quarter last year. This quarter, the situation has gotten substantially worse.

Wells Fargo, worried about defaults, stops making loans to most independent car dealerships

Wells Fargo, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based company was dropping them as a customer, according to people with knowledge of the situation.

Bank of America pledges $1 billion to fight racial inequality

Bank of America is donating $1 billion over the next four years to community programs and small businesses to help address economic and racial inequality that has been exacerbated by Covid-19. CEO Brian Moynihan said in press release Tuesday that “underlying economic and social disparities” were made worse by the pandemic and mentioned the nationwide protests sparked by the death of George Floyd in police custody has “created a sense of true urgency.”

Apple tracking looted iPhones

Apple is watching the looters who have pillaged its stores during the protests. Thieves who made off with iPhones from Apple stores quickly learned that the gadgets were loaded with special security software. It displays a special message for looters.

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