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Amazon slammed with record-breaking fines over privacy concerns

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The EU has ruled that Amazon may be infringing its 300 million users’ right to privacy

The European Union is fining Amazon $888 million for violating its data protection rules.

CNPD is the EU’s lead privacy watchdog. It accused Amazon of “processing personal data in violation of the EU’s General Data Protection Regulation”.

The online retail giant lashed back, saying they findings are “without merit”.

Amazon says there has been “no data breach”

“There has been no data breach, and no customer data has been exposed to any third party,” Amazon said in a statement.

“These facts are undisputed. We strongly disagree with the CNPD’s ruling.”

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Data and privacy concerns

This comes after years of criticism for Amazon over data privacy concerns. The company says it collects data to ‘improve the customer experience’, but some regulators remain concerned.

Lawmakers say that this data trove may give the online retail giant an unfair advantage in the market.

EU privacy watchdog cracks down on US tech giants

Amazon isn’t the only US-based tech giant facing these criticisms. This comes after an ongoing EU investigation into American tech giants.

The investigation is also looking into Microsoft. Particularly, the use of Microsoft 360 to transfer data.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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