DIRS.INFO The most relevant business & tech news

☆ Young Chinese are trading Shanghai for small cities. Brands like KFC are following them with thousands of stores.
▼ + stars: | 2024-04-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . They're struggling to make it in big cities as the world's second-largest economy suffers from a flailing property market and slow post-pandemic consumption recovery. Going big on smaller citiesChina's smaller cities aren't exactly an untapped market. KFC and Pizza Hut operator Yum China, which plans to add 6,000 stores in China by 2026, is also betting big on small cities. AdvertisementThe cost of living crisis driving young people out of China's big cities is a trend that echoes across continents.

Persons: —, MetroDataTech, They're, Joey Wat, DPC, Canyandata Organizations: Migrants, Service, KFC, Bloomberg, Starbucks, Yum Locations: megacities, Shanghai, Shenzhen, MetroDataTech, China, Beijing, —, Yum China, Local, Fuzhou, Korea, New York City, London

☆ U.S. consumer plays in China are more than coffee and iPhones. Stocks to watch
▼ + stars: | 2024-03-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Domino's Pizza's China operator DPC Dash reported Wednesday its 26th straight quarter of same-store sales growth — including the pandemic period. Pizza push Domino's has a roughly 14% stake in DPC Dash, which listed in Hong Kong about a year ago. Woo has a buy rating on DPC Dash and a price target of 73.05 Hong Kong dollars. "Chinese people do eat pizza," DPC Dash CEO Wang said. Yum China, which owns Pizza Hut in China among other brands, is set to release earnings in late April.

Persons: DPC Dash, they've, Xi Jinping, Papa John's, Papa, DPC, Aileen Wang, Wang, Walter Woo, Woo, McDonald's, That's, Christopher J, Kempczinski Organizations: Starbucks, Apple, HSBC, U.S, DPC, Advertising, Hong, Hong Kong Stock Exchange Locations: China, Shanghai, U.S, DPC, Hong Kong, North America, Beijing, Xi'an, Changsha, FY24E, Thurs

☆ TikTok fined 345 million euros over handling of children's data in Europe
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

EU flag and TikTok logo are seen in this illustration taken, June 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies TikTok FollowMeta Platforms Inc FollowDUBLIN, Sept 15 (Reuters) - TikTok has been fined 345 million euros ($370 million) for breaching privacy laws regarding the processing of children's personal data in the European Union, its lead regulator in the bloc said on Friday. The DPC gave TikTok three months to bring all its processing into compliance where infringements were found. It has a second probe open into the transferring by TikTok of personal data to China and whether it complies with EU data law when moving personal data to countries outside the bloc. The DPC has hit other tech giants with big fines, including a combined 2.5 billion euros levied on Meta (META.O).

Persons: Dado Ruvic, TikTok, Padraic Halpin, Jason Neely Organizations: REUTERS, European Union, Data Protection, Meta, Thomson Locations: Ireland, China

☆ TikTok fined $368 million in Europe for failing to protect children
▼ + stars: | 2023-09-15 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

CNN —A major European tech regulator has ordered TikTok to pay a €345 million ($368 million) fine after ruling that the app failed to do enough to protect children. An investigation by the DPC found that in the latter half of 2020, TikTok’s default settings didn’t do enough to protect children’s accounts. TikTok introduced Family Pairing in April 2020, allowing adults to link their accounts with child accounts to manage screen time, restrict unwanted content and limit direct messaging to children. TikTok did not say Family Pairing would now be verifying an adult’s relationship to the child. In April, TikTok was also fined in the United Kingdom for a number of breaches of data protection law, including misusing children’s personal data.

Persons: TikTok, TikTok didn’t, ‘, “, ”, Elaine Fox, Fox Organizations: CNN, Irish Data Protection, European Union Locations: United Kingdom

☆ Norway regulator to fine Meta over privacy breaches
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

Regulator Datatilsynet said it would charge the fine every day from Aug. 4 until Nov. 3 unless Meta takes action. Datatilsynet has referred its move to the European Data Protection Board, which, if the latter agrees, could make the fine permanent and widen the decision's territorial scope in Europe. Datatilsynet's decision comes days after the European Union's top court ruled Meta cannot harvest user data for behavioural advertising. In December the data regulator in Ireland (DPC), where Meta has its European headquarters, said the firm had to stop the practice. "We continue to constructively engage with the Irish DPC, our lead regulator in the EU, regarding our compliance with its decision," Meta said.

Persons: Datatilsynet, Meta, Tobias Judin, Gwladys Fouche, Anna Ringstrom, Jason Neely Organizations: Meta, Big Tech, Reuters, European Data Protection, European, NRK, Thomson Locations: OSLO, Norway, Datatilsynet, Europe, Ireland, Norwegian

☆ Europe and the U.S. finally agree a landmark data-sharing pact — and it's already under threat
▼ + stars: | 2023-07-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

CNBC runs through all you need to know about the new EU-U.S. privacy framework, why it matters, and its chances of success. What's the new EU-U.S. Data Privacy Framework? Schrems said that revelations from NSA whistleblower Edward Snowden about U.S. surveillance meant that American data protection standards couldn't be trusted. Instead, individual U.S. states have come up with their own respective regulations for data privacy, with California leading the charge. The approval of a new data privacy framework means that businesses will now have certainty over how they can process data across borders going forward.

Persons: Pavlo Gonchar, Max Schrems, Schrems, Edward Snowden, Cambridge Analytica, Holger Lutz, Clifford Chance, Meta Organizations: Getty, European Union, CNBC, EU, U.S, European Commission, Protection, European Court of Justice, Facebook, Irish Data Protection, Data, Meta, Google, Cambridge, General Data Locations: America, EU, Europe, U.S, California, Austrian

☆ EU Commission revamps procedures to speed up Big Tech privacy probes
▼ + stars: | 2023-07-04 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, July 4 (Reuters) - Stung by criticism of tardy privacy investigations and the Irish privacy regulator's outsized role in overseeing Big Tech, the European Commission on Tuesday announced new rules to help watchdogs work on cross-border cases at a faster clip. Critics say investigations take too long and fines are too low to deter privacy breaches by Big Tech companies, undermining the goal of landmark EU rules known as the General Data Protection Regulation which came into force in 2018. "The harmonisation of these procedural aspects will support the timely completion of investigations and the delivery of swift remedies for individuals," the Commission said. Privacy activist Max Schrems who has filed complaints against Meta Platforms (META.O) and Alphabet's (GOOGL.O) Google criticised the new procedures. "The Commission proposal seems to be technically and materially flawed and rather strips citizens of existing rights than ensuring their enforcement," he said.

Persons: Max Schrems, Foo Yun Chee, Susan Fenton Organizations: Big Tech, European Commission, General Data, Irish Data Protection, Meta, Google, Tech, Computer & Communications Industry Association, Thomson Locations: BRUSSELS, EU, Ireland

☆ Ireland bolsters data watchdog's powers, privacy activists cry foul
▼ + stars: | 2023-06-28 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

DUBLIN, June 28 (Reuters) - Ireland bolstered its powerful data regulator's ability to stop the sharing of information during its inquiries into global tech companies amid criticism from opposition parties, privacy activists and non-governmental organisations. Ireland's Data Protection Commissioner (DPC) is the European Union's lead regulator of many of the world's largest technology companies due to their EU headquarters being based in Ireland, and has levied billions of euros worth of fines under the bloc's General Data Protection Regulation (GDPR), introduced in 2018. The DPC had sought the powers in order to ensure fair procedure, he said. "To be clear nothing in this amendment will prevent a complainant from speaking out about the nature of their data privacy complaint. The European Consumer Organisation, European Digital Rights group and Amnesty International also spoke out against the bill.

Persons: Max Schrems, James Brown, DPC, Johnny Ryan, Catherine Murphy, Padraic Halpin, Grant McCool Organizations: DUBLIN, Data Protection, Irish, of Civil Liberties, European Consumer Organisation, European Digital Rights, Amnesty International, Social Democrats, Thomson Locations: Ireland, European, Austrian

☆ EU to meet on U.S. data transfer pact in mid-July - lawyer
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, June 26 (Reuters) - The European Commission is due to finalise a new data transfer pact with the United States by mid-July, a lawyer for Ireland's Data Protection Commissioner (DPC), the bloc's lead regulator for many big tech firms, said on Monday. The European Union and United States agreed in March 2022 on the new mechanism to safely transfer EU citizens' personal data to the U.S. after Europe's top court threw out the two previous data transfer frameworks because of concerns about U.S. intelligence agencies accessing Europeans' private data. The two sides have since been working through the detail and Catherine Donnelly, a lawyer for the DPC, said the Irish regulator understood the pact will be presented to the College of Commissioners, the Commission's collective decision-making body, by mid-July. The social media giant said it expects the new pact to be fully implemented before it has to suspend transfers. Reporting by Padraic Halpin, additional reporting by Foo Yun Chee in Brussels, editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Catherine Donnelly, Meta, Denis McDonald, Padraic Halpin, Foo Yun Chee, Christina Fincher Organizations: DUBLIN, European, Data, European Union, United, College of Commissioners, Facebook, Irish High Court, Thomson Locations: United States, Dublin, Europe, Brussels

☆ Meta hit with record $1.3 bln fine over data transfers
▼ + stars: | 2023-05-22 | by ( Padraic Halpin | ) www.reuters.com time to read: +3 min

The fine, imposed by Ireland's Data Protection Commissioner (DPC), came after Meta continued to transfer data beyond a 2020 EU court ruling that invalidated an EU-U.S. data transfer pact. It tops the previous record EU privacy fine of 746 million euros handed by Luxembourg to Amazon.com Inc (AMZN.O) in 2021. "Without the ability to transfer data across borders, the internet risks being carved up into national and regional silos," Meta said. Europe's top court, the European Court of Justice, threw out the two previous pacts over concerns about U.S. surveillance. Unless U.S. surveillance laws gets fixed, Meta will likely have to keep EU data in the EU," he said in a statement.

☆ Meta hit by record 1.2 bln euro fine by EU over U.S. data transfers
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: 1 min

[1/2] A security guard stands watch by the Meta sign outside the headquarters of Facebook parent company Meta Platforms Inc in Mountain View, California, U.S. November 9, 2022. REUTERS/Peter DaSilvaDUBLIN, May 22 (Reuters) - Meta (META.O) was hit on Monday with a record 1.2 billion euro ($1.3 billion) fine by its lead privacy regulator in the European Union for its handling of user information and given five months to stop transferring users’ data to the United States. The fine imposed by Ireland's Data Protection Commissioner (DPC) concerned Meta's continued transferring of personal data and topped the previous 746 million euro record EU privacy fine by Luxembourg on Amazon.com Inc (AMZN.O) in 2021, according to a DPC statement. Reporting by Padraic HalpinOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Dado RuvicMay 17 (Reuters) - Meta Platforms Inc (META.O) is set to face a record European Union privacy fine related to data transfer of Facebook's EU users to U.S. servers for failing to comply with a warning by a top EU court, two sources familiar with the matter said. The penalty will be higher than the previous record 746 million euros ($821.20 million) fine for Amazon.com Inc (AMZN.O), according to the sources. Meta declined to comment, while the Irish Data Protection Commission (DPC) and the European Commission did not immediately respond to Reuters' requests for comment. EU regulators led by Ireland's Data Protection Commissioner Helen Dixon have been finalising a ban on the legal tool used by Facebook to transfer European user data because of concerns U.S. intelligence agencies could access the information. Europe's highest court ruled in 2020 that an EU-U.S. data transfer agreement was invalid, citing surveillance concerns.

☆ Irish data regulator warns against rushing into chatbot bans
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

"It needs to be regulated and it's about figuring out how to regulate it properly," Ireland's Data Protection Commissioner (DPC) Helen Dixon told a Bloomberg conference, saying the debate extended to thousands of ChatGPT equivalents. "For the Irish data protection commission, where we are at is trying to understand a little bit more about the technology, about the large language models, about where the training data is sourced." "So I think it's early days, but it's time to be having those conversations now rather than rushing into prohibitions that really aren't going to stand up." Dixon added that the issues around Generative AI span far beyond data protection and include copyright and defamation concerns. "We also want to contribute to broader discussions about the risks and about other areas of law that converge in AI," she said.

☆ Irish regulator has month to make order on EU-US Facebook data transfers
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, April 13 (Reuters) - Ireland's data regulator has one month to make an order on blocking Facebook's transatlantic data flows, European Union regulators said on Thursday. EU regulators led by Ireland's Data Protection Commissioner (DPC) Helen Dixon have been finalising a ban on the legal tool used by Facebook to transfer European user data because of concerns U.S. intelligence agencies could access the information. Dixon, who is lead regulator for Facebook parent Meta (META.O) because its European headquarters are in Ireland, last month said the ban could be in place by mid-May. While the statement did not say what the decision was, Dixon has said other regulators had not disputed her order to ban the data transfer mechanism. Officials have said a new EU-U.S. data protection framework, which aims to offer EU citizens the same level of data protection as under European law, may be ready by July.

☆ Germany could block ChatGPT if needed, says data protection chief
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 3 (Reuters) - Germany could follow in Italy's footsteps by blocking ChatGPT over data security concerns, the German commissioner for data protection told the Handelsblatt newspaper in comments published on Monday. "In principle, such action is also possible in Germany," Ulrich Kelber said, adding that this would fall under state jurisdiction. Privacy watchdogs in France and Ireland said they had also contacted the Italian data regulator to discuss its findings. "We are following up with the Italian regulator to understand the basis for their action and we will coordinate with all EU data protection authorities in relation to this matter," said a spokesperson for Ireland's Data Protection Commissioner (DPC). The privacy regulator in Sweden said it has no plans to ban ChatGPT nor is it in contact with the Italian watchdog.

☆ New EU-US data pact may come too late for Facebook -regulator
▼ + stars: | 2023-03-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

SummarySummary Companies Facebook may face EU-U.S. data freeze by MayAction due to concerns about U.S. intelligenceNew EU-U.S data privacy deal may come laterDUBLIN, March 7 (Reuters) - A new pact to facilitate the safe transfer of EU citizens' personal data to the United States might not come into force in time to avoid a suspension of Facebook's transatlantic data flows, the U.S. firm's lead European regulator said on Tuesday. European Union regulators led by Ireland's Data Protection Commissioner (DPC) Helen Dixon are finalising a ban on the legal tool used by Facebook to transfer European user data because of concerns U.S. intelligence agencies could access them. In an interview, Dixon said the ban could be in place by mid-May while a new EU-U.S data protection framework that would provide an alternative basis for the transfers might take longer. It must be signed off by other European regulators by April 13, and after that, Dixon said she would have another month to issue a ruling. NEW FRAMEWORKOfficials have said the new EU-U.S. framework, which aims to offer EU citizens the same level of data protection as under European law, may be ready by summer.

☆ Meta's WhatsApp fined 5.5 mln euro by lead EU privacy regulator
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Jan 19 (Reuters) - Meta's (META.O) WhatsApp subsidiary was fined 5.5 million euros ($5.95 million) on Thursday by Ireland's Data Privacy Commissioner (DPC), its lead EU privacy regulator, for an additional breach of the bloc's privacy laws. The DPC fined WhatsApp 225 million euros in September 2021 for breaches that occurred in May 2018, the same period of time as the complaint dealt with on Thursday. WhatsApp is in the process of appealing that fine through the Irish courts. The regulator has fined Meta 1.3 billion euros to date and has 10 other inquiries open into its services. ($1 = 0.9246 euros)Reporting by Padraic Halpin; Editing by Jason Neely and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Meta fined more than $400 million by Irish regulator over EU privacy breaches
▼ + stars: | 2023-01-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022. Facebook parent company Meta on Wednesday was slapped with a pair of fines totaling more than $400 million as the Irish privacy regulator concluded the company's advertising and data handling practices were in breach of EU privacy laws. Combined, the penalties amount to 390 million euros ($414 million). The fines mark the conclusion of two lengthy investigations into Meta by the Irish regulator, which had been criticized over delays in the process. Meta was not immediately available for comment when contacted by CNBC Wednesday.

☆ Irish privacy regulator fines Meta more than $400 mln
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] A security guard stands watch by the Meta sign outside the headquarters of Facebook parent company Meta Platforms Inc in Mountain View, California, U.S. November 9, 2022. REUTERS/Peter DaSilvaDUBLIN, Jan 4 (Reuters) - Ireland's data privacy regulator fined Meta (META.O) 390 million euros ($414 million) on Wednesday for breaches at its Facebook and Instagram services and said both must reassess the legal basis on how they run advertising based on personal data in the European Union. Ireland's Data Privacy Commissioner (DPC), which is the lead privacy regulator for many of the world's largest technology companies within the EU, directed Meta to bring its data processing operations into compliance within three months. The penalties brought the total fines levied against Meta to date by the DPC to 1.3 billion euros. The DPC said that as part of its decision, the EU's privacy watchdog had purported to direct the Irish regulator to conduct a fresh investigation that would span all of Facebook and Instagram's data processing operations.

☆ EU regulators raise concerns over Meta's targeted ad model - WSJ
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

The ruling was approved on Monday by a board representing all EU privacy regulators and could limit the data Meta can access to sell such ads, the report added. For years, Meta's social media platforms have allowed users to opt out of personalized ads, which are targeted after collecting data about user behavior and choices across other apps and websites. But the EU ruling could stifle Meta's ability to target ads based on user activity inside their own apps as well. A spokeswoman for the European Data Protection Board, the body representing all EU privacy regulators, declined to provide details of the decisions made. Reporting by Chavi Mehta in Bengaluru Editing by Vinay Dwivedi and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

The Irish data protection agency, which oversees Meta because its European headquarters is located in Dublin, has been given a month to issue a ruling based on the European Data Protection Board's (EDPB) binding decision. The Irish case against Meta was triggered by a complaint by Austrian privacy activist Max Schrems in 2018. The 27-country bloc's landmark privacy rules known as the General Data Protection Regulation went into effect in 2018. We have one month to adopt the EDPB's binding decisions and will publish details then," the Irish Data Protection Commission said. Meta may have to change its business model, said Helena Brown, head of data & privacy at London-based law firm Addleshaw Goddard.

☆ Irish privacy regulator fines Facebook 265 mln euros
▼ + stars: | 2022-11-28 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

DUBLIN, Nov 28 (Reuters) - Ireland's data privacy regulator imposed a 265 million euro ($277 million) fine on social media giant Facebook on Monday, bringing the total it has fined parent group Meta (META.O) to almost 1 billion euros. It is Meta's lead privacy regulator within the European Union, and has 13 more inquiries into the social media group outstanding. In September the watchdog hit its Instagram subsidiary with a record fine of 405 million euros, which Meta plans to appeal. The DPC said mitigating factors in Monday's decision - which had been approved by all other relevant EU regulators - included the actions Facebook had taken. "We'll keep going until the behaviour does change," Ireland's Data Privacy Commissioner (DPC) Helen Dixon told Irish national broadcaster RTE on Monday.

☆ Twitter answering privacy concerns "so far" - lead EU regulator
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, Nov 28 (Reuters) - Twitter's lead privacy regulator in the European Union said it is concerned about the impact layoffs at the social media company may have on its ability to meet privacy obligations but is so far getting answers to its questions. So far we're getting answers to our questions," Ireland's Data Privacy Commissioner (DPC) Helen Dixon told Irish national broadcaster RTE on Monday. "We're in multiple daily contact with them and we've a range of contacts still based at Twitter in Dublin. It's a fast evolving situation, I think where we arrive at the point where we can't get answers and we have no point of contact, then we will be in very serious difficulty." Reporting by Padraic Halpin; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Irish regulator fines Meta $275 million for violations of Europe’s data privacy law
▼ + stars: | 2022-11-28 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN Business —Meta has been fined roughly $275 million by Ireland’s data privacy regulator for failing to prevent hackers from siphoning off personal information from more than 500 million Facebook users in a 2019 data leak. Since the fall of 2021, Ireland’s DPC has slapped Meta with 912 million euros in fines, going after the social media titan and its other subsidiaries, Instagram and WhatsApp, for alleged violations of Europe’s signature data privacy law, known as the General Data Protection Regulation (GDPR). Earlier this fall, Meta was hit with a 405 million euro fine over Instagram’s handling of children’s data, the second-largest GDPR fine in history. Other enforcement actions, in March 2022 and September 2021, led to fines of 17 million euros and 225 million euros, respectively. “Protecting the privacy and security of people’s data is fundamental to how our business works,” Meta said in Monday’s statement.

☆ Twitter answering privacy concerns 'so far' - lead EU regulator
▼ + stars: | 2022-11-28 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

DUBLIN, Nov 28 (Reuters) - The lead privacy regulator for Twitter in the European Union said it was concerned about the potential impact of layoffs at the social media company on its ability to meet privacy obligations, but said it was so far getting answers to its questions. Twitter has fired top executives and enforced steep job cuts with little warning following billionaire Elon Musk's tumultuous takeover of the company last month. Prior to the cuts, Twitter employed around 500 people at its European headquarters in Dublin where - like many other tech giants - Ireland's Data Privacy Commissioner (DPC) is the social media platform's lead privacy regulator within the EU. So far we're getting answers to our questions," DPC head Helen Dixon told Irish national broadcaster RTE on Monday. The watchdog said it had also been able to continue with six investigations into Twitter relating to potential privacy breaches that pre-date Musk's acquisition.

Search resuls for: "DPC"

25 mentions found