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Social media company is being sued over “false” ads

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 The Australian competition watchdog is suing Facebook owner Meta platforms Inc

This comes as the social media platform allegedly engaged in false or misleading cryptocurrency advertisements in Australia.

According to the regulator, Meta published ads featuring “prominent Australian public figures” promoting money-making schemes or cryptocurrency investment which were “scams” that most likely mislead users.

The Australian Competition & Consumer Commission (ACCC) says the technology of Meta enabled these ads to be targeted to users most likely to engage with the ads.

“It is alleged that Meta was aware that the celebrity endorsement cryptocurrency scam ads were being displayed on Facebook but did not take sufficient steps to address the issue,”

They say.

ACCC Chair Rod Sims says the essence of our case is that Meta is responsible for these ads that it publishes on its platform,

“Meta assured its users it would detect and prevent spam and promote safety on Facebook, but it failed to prevent the publication of other similar celebrity endorsement cryptocurrency scam ads,”

he says.

Savannah Pocock contributed to this report.

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The EV transformation expands to legacy vehicles

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This week witnessed another milestone in the automotive industry as the legendary Mercedes-Benz G-Wagen embarked on its electric journey, aligning with global sustainability efforts.

Simultaneously, Toyota and Mazda debuted EV offerings tailored for the booming Chinese market, signalling a strategic shift towards collaboration with advanced Chinese partners.

While the electric G-Wagen promises both eco-friendliness and off-road prowess with its innovative design, questions arise about Japanese automakers’ perceived lag in EV development, countered by the strategic imperative to tap into the rapidly growing Chinese EV market. As automotive icons embrace electrification and traditional players adapt through partnerships, it’s clear that collaboration and innovation will drive the future of mobility.

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The degree dilemma, income shifts, debt, and dream homes

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As individuals face the daunting choice between paying off student debt, saving for a first home deposit, or exploring alternative options like rentvesting, careful consideration of various factors becomes imperative.

 

In the midst of these challenges, a couple in the inner north ingeniously employed a strategy to realise their dream of a larger home while managing HECS debt and affordability hurdles.

Rentvesting emerges as a viable solution for individuals grappling with the burdens of high HECS debt and property affordability issues.

Moreover, the decreasing income premium tied to a university degree is closely intertwined with changing economic dynamics and shifts in the job market, underscoring the need for innovative approaches to education and financial planning in today’s society.

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President Biden signs TikTok bill – what’s next?

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TikTok users could soon find that the popular social media service is either under new ownership or could be outright banned in the United States.

President Joe Biden signed a bill into law that requires TikTok to find a new owner—or face a ban in the United States.

Over the past several months, Washington D.C. has been under pressure to ban the popular Chinese-owned social media app.

Lawmakers and security experts have long raised concerns that the Chinese government could tap TikTok’s trove of personal data about millions of U.S. users.

TikTok’s CEO said the bill is disappointing and reiterated that the company has committed to challenge it.

David Zhang from China Insider. joins Veronica Dudo to discuss

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