FACEBOOK EUROPE RULES
Mid and smallcap stocks could see strong gains in 2027, but expect volatility, says Deepak Shenoy, Capitalmind Mutual Fund
Deepak Shenoy anticipates a stronger rally for mid and smallcap stocks in 2027, marked by volatility. He forecasts earnings growth exceeding 20% in these segments, supporting potential gains. Valuations, however, will vary based on companies meeting growth expectations or not. Global political tensions and the AI sector's challenges may influence market dynamics. Shenoy emphasizes the unpredictability of market movements and shares insights on past predictions.
Meta halts new business terms after backlash over data scraping and AI use
Meta has postponed the rollout of new terms affecting its business accounts due to significant backlash. Critics claimed these changes could lead to unauthorized data scraping and unfair competition against news publishers. A Norwegian court granted an injunction on the terms, highlighting concerns over Meta's market dominance. The U.K. competition authority has also initiated an investigation into these new business conditions.
Meta tells Brazil's electoral court it treats Lula and Flavio Bolsonaro equally ahead of Sunday vote
Meta has taken steps to comply with a court order for equal treatment of presidential candidates in Brazil. The electoral court directed the company to ensure balanced platform coverage before the upcoming runoff election. This follows allegations from President Luiz Inacio Lula da Silva's campaign regarding biased algorithms favoring his opponent, Flavio Bolsonaro. Meta has implemented measures to uphold electoral advertisement regulations amidst growing tensions.
EU chief to unveil social media, gaming curbs for under-15s
EU chief Ursula von der Leyen will on Wednesday unveil long-awaited plans to protect children from online harm by curbing access to social media, video-sharing platforms, games and AI chatbots for under-15s. Von der Leyen will use her annual keynote speech to the European Parliament to outline new EU legislation, which according to a draft document will set strict limits on access to social media, AI chatbots and online gaming for under-15s.
Crypto's shopping hack; Centre eyes Meta child safeguards
Indians are buying groceries, fuel, food and gold via gift cards on overseas crypto platforms. This and more in today's ETtech Top 5.
China's Temu may have spent as much as $962 millionon Meta ads in the UK and Europe, with 73 of its top 100 creators likely fake
Temu may have spent nearly one billion dollars on Meta ads promoting products. Research suggests many boosted accounts likely do not represent real influencers. These accounts, often based in Russia and China, promoted Temu products extensively. This practice raises legal questions regarding misleading commercial practices in Europe. The findings also highlight challenges posed by AI and automated content in digital advertising.
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Apple facing $2.7 billion UK lawsuit over 'unfair' app tracking rules
Apple has said it introduced that feature to allow users to control whether to grant apps permission to track their activity across other companies' apps and websites. Lawyers bringing the new lawsuit against Apple, though, say the feature imposed stricter requirements on third-party app developers than on Apple's own services, giving its advertising ecosystem a competitive advantage.
Mutinous soldiers attack airport, presidency in Niger capital, sources say
Gunfire and explosions erupted across Niger's capital on Saturday morning. Mutinous soldiers reportedly attacked the airport and areas near the presidency. State television and radio went offline as security forces mobilized in response. This incident marks a new threat to the rule of Abdourahamane Tiani. Niger, a key uranium producer, faces ongoing jihadist attacks and political instability.
Dutch regulator fines Uber $966 million for automating driver suspensions
The penalty would be the second-largest issued yet under Europe's General Data Protection Regulation. It is behind only a €1.2 billion fine imposed on Meta by Ireland in 2023 for unlawfully transferring European Facebook users' data to the United States. Meta is appealing.
Apple to change app data consent rules, German regulator says
The Federal Cartel Office, or FCO, found that Apple's App Tracking Transparency framework gave its own apps more favourable consent prompts than those of third-party developers, potentially breaching competition rules.
EU court adviser rejects Meta's fight against EU antitrust demands for Facebook data
A key legal adviser has supported EU regulators in their dispute with Meta Platforms. The tech giant had challenged information demands made during investigations. The adviser proposed dismissing Meta's appeals.
Meta says will appeal 'unlawful' EU fine
Facebook owner Meta said it will appeal a 200-million-euro fine slapped on it by the EU after the bloc accused the company of breaking digital competition rules. The EU fined Meta in April over its "pay or consent" system because of how it said the company used personal data on Facebook and Instagram.
Facebook owner hit with 251 million euros in fines for 2018 data breach
The hack exploited three distinct bugs in Facebook's "View As" feature, which allowed users to see how their profiles appeared to others. The attackers took advantage of these vulnerabilities to steal digital keys known as "access tokens" from the accounts of individuals whose profiles appeared in searches using the "View As" feature.
Meta to offer less personalised ads in Europe to appease regulators
Over the coming weeks, people in the EU who use the company's social media platforms for free with ads, will be able to choose to see ads based on what Meta calls "context"- content that a user sees during a particular session on the platforms.
Meta Platforms to use social media posts from Europe to train AI
Meta Platforms plans to incorporate social media content from Europe to train its generative AI models using Llama large language models. NYOB challenges the move in Europe due to insufficient notifications about data usage.
Meta may allow Instagram, Facebook users in Europe to pay and avoid ads
Those who pay for Facebook and Instagram subscriptions would not see ads in the apps, said the people, who spoke on the condition of anonymity because the plans are confidential. That may help Meta fend off privacy concerns and other scrutiny from EU regulators by giving users an alternative to the company's ad-based services, which rely on analyzing people's data, the people said.
Meta may allow Instagram, Facebook users in Europe to pay and avoid ads
This may help Meta fend off privacy concerns and other scrutiny from EU regulators by giving users an alternative to the company’s ad-based services, which rely on analyzing people’s data.
Meta to face record EU privacy fine over Facebook data transfer to US
The penalty will be higher than the previous record €746 million ($821.20 million) fine for Amazon.com Inc, according to the sources.
Big Tech crackdown looms as EU, UK ready new rules
The updates help solidify Europe's reputation as the global leader in efforts to rein in the power of social media companies and other digital platforms.
Meta explores ban on political ads in Europe
EU lawmakers in February agreed to tougher rules on targeted political advertising aimed at countering misinformation during elections. The proposed rules require U.S. tech giants to provide more data on their targeted political ads, with fines up to 4% of their global turnover for breaches.
Irish regulator could halt Facebook, Instagram EU-US data flows in May
Europe's highest court ruled in 2020 that an EU-US data transfer pact was invalid due to concerns that US government surveillance may not respect the privacy rights of EU citizens.
Meta, Google face data doomsday as key EU decision looms
Privacy experts say the imminent decision could eliminate one of the only remaining options for Meta and potentially thousands of other companies that rely on shipping vast amounts of commercial data across the Atlantic.
'FB could be sued by consumer groups' in Europe
Facebook found itself in the dock after the Federation of German Consumer Organisations filed a lawsuit alleging that the social network had allowed operators of online games to improperly collect the personal data of gamers. The games were offered on Facebook's App Center in 2012. By playing the games, users automatically agreed to share personal data including email addresses. At the end of the game, they would receive a message saying that the app could post their status, photos and other information.
Governments must check if Facebook really does scrap face recognition, Frances Haugen says
Facebook made the announcement on Tuesday, partly in response to growing scrutiny from regulators and legislators over user safety and abuses on its platforms. Activists have criticised faceprinting as a serious threat to privacy.
EU court backs national data watchdog powers in blow to Facebook, Big Tech
The EU Court of Justice (CJEU) ruling could encourage national agencies to act against U.S. tech companies such as Google, Twitter and Apple, which all have their European Union headquarters in Ireland.
Facebook to pay more than $118 million in back taxes in France
France, which is pushing hard to overhaul international tax rules on digital companies such as Facebook, Alphabet’s Google, Apple and Amazon, has said the big tech groups pay too little tax in the country where they have significant sales.
Facebook gains temporary court reprieve on EU antitrust data demand
Facebook has won the first round of its court battle against what it says are excessive demands from European Union antitrust regulators after Europe's second-top court temporarily halted such requests until it makes a final ruling.
Facebook US data transfer case goes to Europe's top court
The European Court of Justice is hearing arguments on July 9 on whether Facebook's Dublin-based subsidiary can legally transfer users' personal data to the US parent company.
Global Facebook users to get 'good' EU-style safeguards: Zuckerberg
Facebook CEO Mark Zuckerberg said today that he was rolling out the privacy controls demanded by European regulators to Facebook users worldwide because "everyone cares about privacy".
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