TikTok, the popular global Chinese-owned company, has been found in breach of the European’s General Data Regulation (GDPR) in relation to its violation of children’s privacy. The Irish data watchdog, which regulates TikTok across the EU, charged that the company breached the following eight articles of the GDPR: 5(1)(a); 5(1)(c); 5(1)(f); 24(1); 25(1); 25(2); 12(1); and 13(1)(e) — that is […]
Global e-commerce firm Amazon opened its largest last-mile delivery center in Latin America. The warehouse in Mexico City was established as the company hopes to offer quicker deliveries in one of the region’s most populous cities. Reuters has reported that the e-commerce giant launched in Mexico in 2015, and has since invested 52 billion pesos or US$3 billion, in an […]
Bank of Jamaica (BOJ) Governor, Richard Byles, is assuring that the country’s financial system remains safe, sound, adequately capitalized, and liquid. He gave this assurance while speaking during the Central Bank’s recent quarterly monetary policy media briefing at the BOJ Auditorium in downtown Kingston. Mr. Byles’ comment comes against the background of the BOJ’s mandate of ensuring and preserving Jamaica’s […]
U.S. consumer spending increased by the most in six months in July. Americans bought more goods and services last month. Consumer spending, which accounts for more than two-thirds of US economic activity, increased by 0.80 percent. Data for June was revised upward slightly, showing that spending rose by 0.6 percent, instead of 0.50 percent as previously reported. Spending on goods […]
Photo credit: Shashank457 The recognized credit rating agency Fitch has downgraded the U.S. government’s credit rating. This move comes from concerns about the state of the country’s finances and debt burden. Fitch, one of three major independent agencies that assess creditworthiness, cut the rating from the top level of AAA to a notch lower at AA+. Fitch said it had […]
Facebook has agreed to pay a record-breaking $5 billion fine to the Federal Trade Commission for violating the privacy of millions of users. The fine is the largest ever imposed on a tech company by the FTC and comes after a long investigation into Facebook’s data practices and breaches. Facebook also agreed to implement new measures to protect user data […]
Elon Musk has unveiled a new black and white “X” logo to replace Twitter’s famous blue bird as he follows through with a major rebranding of the social media platform he bought for $44 billion last year. Musk replaced his own Twitter icon with a white X on a black background and posted a picture on Monday of the design […]
Spain’s antitrust regulator has imposed fines worth a total of 218 million dollars on Amazon and Apple for colluding to restrict competition on the Amazon website in Spain. CNMC says the two contracts the companies signed on October 31, 2018, granting Amazon the status of authorized Apple dealer, included anti-competitive clauses that affected the online market for electronic devices in […]
Threads, the newest social-media app from Meta, rocketed past 100 million users less than a week after it went live. The explosive start from Mark Zuckerberg’s latest brainchild made it the fastest-growing app in history and took a significant bite out of Twitter’s traffic, according to the tracking company Cloudflare. The app has since been hailed as the Twitter replacement people […]
U.S. job growth slowed last month in a sign that the weight of higher interest rates may be starting to slow the world’s largest economy. The Labor Department reported that nonfarm payrolls increased by 209,000 jobs last month, the smallest gain since December 2020, the survey of establishments showed. That was fewer than expected, though the unemployment rate still fell […]
