financetom
Business
financetom
/
Business
/
Italian watchdog fines Facebook seven million euros over improper data use
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Italian watchdog fines Facebook seven million euros over improper data use
Feb 17, 2021 7:12 AM

Italy’s competition watchdog said on Wednesday it had fined Facebook 7 million euros (USD 8.5 million) for not complying with a request by the regulator to correct improper commercial practices in the group’s treatment of user data. Facebook was not immediately available for comment.

In November 2018, the antitrust body ruled that Facebook had not informed users properly about its collection and use of data.

It fined the US company 5 million euros (USD5.5 million) and asked it to publish an amended statement on the homepage of its website for Italy, on the Facebook app and on the personal page of each registered Italian user.

”The current investigation has proved that …(the company has) not published the amended statement and has not stopped the established unfair practice,” the regulator said in its statement.

Given the economic value of the data for Facebook, it said users should be put in a position to decide whether it should be used.

($1 = 0.8282 euros)

First Published:Feb 17, 2021 4:12 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Exelixis Q3 Non-GAAP Earnings, Revenue Rise; Updates Guidance
Exelixis Q3 Non-GAAP Earnings, Revenue Rise; Updates Guidance
Nov 3, 2024
05:21 PM EDT, 10/29/2024 (MT Newswires) -- Exelixis ( EXEL ) reported Q3 non-GAAP diluted earnings late Tuesday of $0.47 per share, up from $0.10 a year earlier. Analysts surveyed by Capital IQ expected $0.42. Revenue for the quarter ended Sept. 30 was $539.5 million, up from $471.9 million a year earlier. Analysts polled by Capital IQ expected $490.3 million....
Stag Industrial Q3 Core FFO, Revenue Increase
Stag Industrial Q3 Core FFO, Revenue Increase
Nov 3, 2024
05:25 PM EDT, 10/29/2024 (MT Newswires) -- Stag Industrial ( STAG ) reported Q3 core funds from operations late Tuesday of $0.60 per diluted share, up from $0.59 a year ago. Analysts polled by Capital IQ expected $0.52. Revenue for the quarter ended Sept. 30 rose to $190.7 million from $179.3 million a year earlier. Analysts surveyed by Capital IQ...
Alphabet Third-Quarter Results Top Views on Ad Business, Cloud Strengths
Alphabet Third-Quarter Results Top Views on Ad Business, Cloud Strengths
Nov 3, 2024
04:45 PM EDT, 10/29/2024 (MT Newswires) -- Alphabet (GOOG, GOOGL) late Tuesday reported stronger-than-expected third-quarter results, driven by strength in the Google ( GOOG ) parent's advertising and cloud operations. Per-share earnings rose to $2.12 for the September quarter from $1.55 a year earlier, compared with the consensus among analysts on Capital IQ for $1.85. Revenue advanced 15% to $88.27...
First Solar says several large rivals are infringing on patents
First Solar says several large rivals are infringing on patents
Nov 3, 2024
Oct 29 (Reuters) - U.S. solar panel maker First Solar ( FSLR ) has notified several large rivals that it believes they are infringing on its patents on a leading solar technology, executives said on a conference call with analysts on Tuesday. First Solar ( FSLR ) said it has sent letters, through its attorneys, to Canadian Solar ( CSIQ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved