Money

WhatsApp cops massive fine for breaking privacy laws

Published

3 years ago

September 3, 2021

WhatsApp has been fined for breaching the EU’s data privacy laws

The Facebook owned social media platform, used as a messaging service, was found to have breached the European Union’s privacy law.

WhatsApp received a total penalty of €225 million ($267 million) with Ireland’s Data Protection Commission noting that WhatsApp did not properly inform EU citizens how it handles their personal data, which included how the social media platform shares that information with its parent company.

Ireland’s Data Protection Commission (DPC) announced the decision in an 89-page summary.

The Facebook owned social media platform has been ordered to act and to make updates to its already lengthy privacy policy and change how it notifies users about sharing their data.

This will bring it into compliance with Europe’s General Data Protection Regulation (GDPR) which governs how tech companies gather and use data in the EU.

Europe’s General Data Protection Regulation came into effect in May 2018, and WhatsApp was one of the first companies to be hit with privacy lawsuits under the regulation.

Money

China has pledged to “significantly increase” debt to jumpstart its economy

Published

1 day ago

October 14, 2024

ticker NEWS

Finance Minister Lan Foan announced plans to help local governments tackle debt, support low-income households, and boost the property market.

Investors have been urging such steps as China faces deflationary pressures and a sharp property market downturn.

However, no figure was provided for the stimulus package, leaving markets anxious about the strength and duration of the recovery effort.

Economists warn that this lack of clarity may prolong uncertainty until China’s legislature approves extra debt measures.

Concerns are rising that China may fall short of its 5% growth target, signalling deeper structural challenges ahead.

Leaders

Niche accountants proving essential to e-commerce success

Published

6 days ago

October 9, 2024

ticker NEWS

Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

Published

6 days ago

October 9, 2024

ticker NEWS

Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending