Earlier this year, Google updated its financial services-ad policies to ban any advertising about cryptocurrency-related content, including initial coin offerings (ICOs), wallets, and trading advice. Google appears to be reversing course with a new policy starting in October that will allow regulated cryptocurrency exchanges to buy ads in the U.S. and Japan. Advertising about ICOs, wallets and trading advice are reportedly still not allowed. CNBC reports: Google's updated policy applies to advertisers all over the world, though the ads can only run in the U.S. and Japan, and interested parties will need to apply for certification to serve ads in each country individually. Google's move follows Facebook, which started allowing pre-approved cryptocurrency advertisers in June. Google parent company Alphabet gets roughly 86 percent of its total revenue from advertising. The company booked more than $54 billion in ad revenue in the first half of 2018.

A federal appeals court ruled on Tuesday that drivers "seeking to be classified as employees rather than independent contractors must arbitrate their claims individually, and not pursue class-action lawsuits," reports Reuters. Ars Technica explains the significance of this ruling: Employees are guaranteed to earn federal minimum wage and are entitled to overtime pay if they work more than 40 hours per week. Uber employees, in contrast, are paid by the ride and might earn much less than minimum wage if they drive at a slow time of day. California law also gives employees the right to be reimbursed for expenses they incur on the job, which would be significant for Uber drivers who otherwise are responsible for gas, maintenance, insurance, and other expenses of operating an Uber vehicle.

Hence, the question of whether Uber drivers are employees or independent contractors is a big and important one. It's also a question that isn't addressed at all in Tuesday's ruling, as the courts never get to the substance of the plaintiffs' arguments about employment law. Instead, a three-judge panel of the 9th Circuit court ruled that the drivers signed away their rights to sue in court when they signed up to be Uber drivers. Uber's agreement with drivers requires that this kind of dispute be handled by private arbitration rather than by a lawsuit in the public courts. The court cited a Supreme Court ruling handed down in May that held that federal labor law did not preempt arbitration agreements. [...] the decision means that each driver's case must be fought on an individual, case-by-case basis. Class-action lawsuits in the federal courts allow plaintiffs to effectively pool their resources. [...] But under arbitration, each driver's case will be considered individually. Most won't have the resources to afford top-tier legal representation, and drivers won't have the inherent leverage that comes from being able to bargain as a group.

Despite its advanced age, Cobol is still the most prevalent programming language in the financial-services industry world-wide. Software programmed in Cobol powers millions of banking transactions every day and underpins critical computer mainframes. WSJ: And Cobol isn't going away anytime soon. Banks and other companies have come to the uncomfortable realization that ripping out old mainframes is pricey and complicated. Transitioning to new systems is likely to take years, and besides, a lot of the older tech works just fine. The problem is that Cobol isn't popular with new programmers. So, with a generation of Cobol specialists retiring, there is a continuing hunt to find a new generation of programmers to service this technology. In Texas, Mr. Hinshaw's (an anecdote in the story) company, the Cobol Cowboys, a group of mostly older programmers, is training U.S. military veterans in the programming language. Accenture is coaching hundreds of Cobol programmers every year in India and the Philippines to work at banks. In Malaysia, one consultancy that provides engineers versed in Cobol for its clients, iTAc MSC Outsourcing, has adopted the slogan "Keeping the Dinosaurs Alive." A host of companies offer online courses in Cobol in places like South Africa, India and Bangladesh. Developing economies are key technology-outsourcing centers for banks. Further reading: Major Banks and Parts of Federal Gov't Still Rely On COBOL, Now Scrambling To Find IT 'Cowboys' To Keep Things Afloat.

The federal government wants to know the best way to protect your privacy online. On Tuesday, the Department of Commerce released a request for public comments as it outlined the Trump administration's approach to consumer data privacy. A report adds: In the proposal, the National Telecommunications and Information Administration, a branch under the Commerce Department, recommended privacy regulations focused on giving users control over how their data is used by tech companies. The proposal comes a day before the US Senate Committee on Commerce, Science and Transportation is set to hold a hearing on consumer privacy, with companies like Apple, Google and Amazon testifying. The Commerce Department found public concern with how personal information has been used by tech companies and is taking a "risk-based flexibility" approach for privacy regulations. "The administration takes these concerns seriously and believes that users should be able to benefit from dynamic uses of their information, while still expecting organizations will appropriately minimize risks to users' privacy," the department wrote in the document.

Jon Russell, writing for TechCrunch: Mark Zuckerberg was quick to realize that Facebook, the largest social network in the world, doesn't have a monopoly on all users nor can it bank on holding its position as top dog forever. Thus he instituted a policy of buying up promising rivals and integrating them into the Facebook 'group' in a strategy designed to be a win-win for all. But by leaving Facebook in abrupt fashion this week, Kevin Systrom and Mike Krieger -- the founders of Instagram -- have shown that the social network's vision of letting acquired businesses operate independently simply isn't feasible. [...] The original idea is a best-of-both-worlds approach: a company's finances are infinitely secured and it can grow as needed inside the Facebook 'family,' with access to resources like engineering, marketing, admin, etc. That was also the plan for WhatsApp, but founding pair Jan Koum and Brian Acton managed four and three and a half years, respectively, at Facebook following their $19 billion acquisition in 2014. VR firm Oculus, another billion-dollar purchase, lost co-founders Palmer Lucky (political scandal) and Brendan Iribe (reshuffled) three years after its deal.

An anonymous reader quotes a report from The Verge: Google CEO Sundar Pichai will be present at a private meeting with top Republican lawmakers this Friday to discuss the company's controversial plans to relaunch a search product in China and perceived liberal bias of search results, according to a report from The Wall Street Journal. According to the WSJ, Attorney General Jeff Sessions plans to meet with state attorneys general on Tuesday to discuss Google's alleged censorship of conservatives. Tech firms have denied the existence of liberal bias in products, and Google has pushed back against key Trump inaccuracies, but it sounds as if Pichai will be forced to answer questions nonetheless. The meeting is being organized by House Majority Leader Kevin McCarthy (R-CA). Late last week, Pichai sent an email to employees, which was obtained by The New York Times, in which he stated outright that Google has never influenced search results for political purposes and has no plans to do so in the future.

Pichai also plans to attend a public hearing later this year held by the House Judiciary Committee following the November midterm elections, after Google co-founder and Alphabet CEO Larry Page notably declined to show up to a Senate Intel Committee hearing on election interference earlier this month. In addition to mending relationships over Page's absence, Pichai will also be addressing Google's plans to relaunch a search product for the Chinese market, a move that has resulted in widespread criticism given the likelihood such a product would be heavily censored and would aid in China's use of information control to maintain social and political order.