The online food delivery service DoorDash has been fined $2 million for breaching spam regulations.
The fine was imposed by the Australian Communications and Media Authority (ACMA) following an investigation that revealed DoorDash had sent over one million unauthorized texts and emails between February and October of the previous year.
The ACMA’s investigation found that DoorDash had sent more than 566,000 promotional emails to customers who had previously unsubscribed from receiving such messages.
Additionally, the company had sent around 515,000 text messages to potential drivers without providing an option to unsubscribe.
Nerida O’Loughlin, the chair of the ACMA, stated that the investigation was prompted by numerous complaints from customers who were frustrated by receiving marketing messages after opting out.
O’Loughlin emphasized that it was unacceptable for DoorDash to send messages to prospective contractors without an unsubscribe option, particularly about a business opportunity they might not have been interested in pursuing.
As part of the punitive measures, DoorDash will be required to appoint an independent consultant to ensure the company’s compliance with spam rules.
This arrangement will be enforced by the court for a period of three years, during which DoorDash will need to provide regular reports to the ACMA.
The investigation highlighted that DoorDash had misrepresented its text messages to potential contractors as factual information.
O’Loughlin clarified that while factual messages fall outside the scope of spam laws, DoorDash’s messages contained offers and incentives aimed at encouraging individuals to become drivers for the platform.
“When messages include this kind of content they are considered commercial under spam rules and must include an unsubscribe facility,” O’Loughlin explained.
She further emphasized that DoorDash’s status as a large business involved in high-volume marketing left no room for non-compliance.
Bank accidentally deposits $86M into client’s account
A financial institution mistakenly deposited over $86 million into a client’s account, causing shockwaves in the banking industry.
The error came to light when the client, a small business owner, checked their account balance and discovered the astronomical sum. It is being hailed as one of the most significant banking errors in recent memory.
The client, who wishes to remain anonymous, reportedly contacted the bank immediately upon noticing the massive windfall. Bank officials were left scrambling to rectify the error, which has raised numerous questions about the institution’s internal controls and safeguards.
The client’s account, initially holding just a few thousand dollars, suddenly displayed a balance that could buy luxury yachts, mansions, and more.
The incident has prompted investigations by regulatory authorities to determine how such an egregious error occurred in the first place.
While the bank has issued an apology and assured the client that the funds will be corrected to the proper balance, it remains unclear how this mistake could have happened on such a colossal scale.
The financial institution may also face potential legal consequences for the error, as well as reputational damage that could impact its future business.
Tech giants drive global mega-cap surge amid inflation relief
Tech giants have taken the lead in propelling global mega-cap stocks to new heights.
This surge comes as a welcome relief for investors who have been closely monitoring the impact of rising inflation on the financial markets.
The tech sector, including giants like Apple, Amazon, and Microsoft, has been instrumental in driving the rally. These companies have reported robust earnings and strong growth prospects, which has boosted investor confidence. As a result, the market capitalization of these tech behemoths has reached unprecedented levels, contributing significantly to the overall rise in global mega-cap stocks.
The easing of inflationary pressures has played a pivotal role in this resurgence. Central banks’ efforts to tame inflation through monetary policy adjustments have begun to bear fruit, reassuring investors and stabilizing financial markets. As concerns over rapidly increasing prices recede, investors have become more willing to invest in mega-cap stocks, particularly in the tech sector, which has demonstrated resilience in the face of economic challenges.
Will the tech giants maintain their momentum and continue to lead the mega-cap surge, or are there potential risks on the horizon?
Real reason bosses want employers back in the office
As the world gradually recovers from the pandemic, employers are increasingly pushing for their staff to return to the office after years of remote work.
The driving force behind this push is the sharp decline in commercial property values, which has left many businesses concerned about their real estate investments.
Commercial property values have plunged in the wake of the pandemic, with many companies downsizing or reconsidering their office space needs.
This has put pressure on employers to reevaluate their remote work policies and encourage employees to return to the office. #featured
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