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That's according to research out Tuesday from Mozilla and CheckFirst, which concludes that leading tech platforms are lagging in their ad transparency tools. None of the results were great, and some were "a major disappointment," according to the researchers. "This is now no longer something that's voluntary," Claire Pershan, EU advocacy lead at Mozilla, told CNBC. It's troubling news as the major platforms prepare for a huge year of elections that affect upward of 4 billion people in more than 40 countries. Lesplingart told CNBC that users had to know the advertiser name, targeted country and date of the advertisement in order to export to an ad file.
Persons: Sundar Pichai, Microsoft's Bing, Claire Pershan, Amaury Lesplingart, CheckFirst, Josh Becker, Lesplingart, Bing, Alibaba's, Zalando, Booking.com, TikTok, it's, we'd Organizations: Inc, Government, Society, Mozilla, Google, LinkedIn, Union's Digital Services, CNBC, Democratic, X, European Commission, DSA, Meta, YouTube Locations: Stanford , California, U.S, Meta, California
[1/2] A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photo Acquire Licensing RightsBRUSSELS/STOCKHOLM, Nov 14 (Reuters) - Microsoft and Google will not challenge an EU law requiring them to make it easier for users to move between competing services such as social media platforms and internet browsers. As part of its latest crackdown on Big Tech, the European Union in September picked 22 "gatekeeper" services, run by six of the world's biggest tech companies, to face new rules . The Digital Markets Act (DMA) requires these gatekeepers to inter-operate their messaging apps with competitors and allow users to decide which apps they pre-install on their devices. The DMA will apply to services from Alphabet (GOOGL.O), Amazon (AMZN.O), Apple (AAPL.O), Meta (META.O), Microsoft (MSFT.O) and TikTok owner ByteDance.
Persons: Paresh Dave, ByteDance, Meta, WhatsApp, TikTok, Foo Yun Chee, Supantha Mukherjee, Sharon Singleton, Alexander Smith Organizations: REUTERS, Microsoft, Google, Big Tech, European Union, Markets, Apple, Amazon, Digital Services, European Commission, Digital Markets, Windows, LinkedIn, Industry, Reuters, Facebook, Bloomberg, Thomson Locations: Mountain View , California, U.S, BRUSSELS, STOCKHOLM, Luxembourg, Brussels, Stockholm
Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. Zalando now expects 2023 revenue to fall between 0.5% and 3%, having previously guided to a 1% decline at worst. An unusually warm September weighed on sales of autumn and winter clothes, Zalando said, exacerbating the impact of weak consumer sentiment. Gross merchandise volume - a measure of sales on the platform by Zalando and partner brands - fell by 2.4% from a year ago. The company's market value has dropped over the past two years as shoppers, freed from pandemic restrictions, returned to stores and ordered fewer clothes online.
Persons: Clodagh, Zalando, Clément Génelot, Bryan Garnier, Zalando's, Génelot, Gross, Helen Reid, Christian Schmollinger, Sonali Paul Organizations: REUTERS, Thomson Locations: Galway, Ireland, Paris, Germany, Austria, Switzerland
The venture has faced legal challenges by Citadel Securities, whose European arm filed a case in London in June 2022. Portofino said in its initial response that Citadel's legal action was "unmeritorious, anticompetitive and a classic example of corporate bullying." AdvertisementAdvertisementIn January 2022 Griffin sold a $1.2 billion stake in Citadel Securities to venture capital firms Sequoia and Paradigm. "Further, their attempt to improperly poach Vincent Prieur, a New York-based employee described as the 'aggregator of all things crypto' at Citadel Securities, is undisputed. Prieur, who later joined Portofino, had also been the subject of legal action by Citadel Securities that was settled out of court, Bloomberg reported.
Persons: Alex Casimo, Leonard Lancia, Ken Griffin, Griffin, Peter Thiel, Slack, Zalando, Portofino, Casimo, it's, Peng Zhao, Matt Huang, Lancia, poach Vincent Prieur, Prieur Organizations: Citadel Securities, Portofino Technologies, Citadel, New, Service, Ventures, Global Founders Capital, Global Founders, Lancia, London Court, Portofino, Court, Southern, of, Sequoia, Paradigm, Financial Times, Bloomberg Locations: New York, Wall, Silicon, Miami, Swiss, London, Europe, of New York, Portofino
Analysts at Barclays have named consumer internet stocks set to do well — and badly — in an age of generative AI. Outlining what they called "a framework for generative AI success," the bank analyzed possible opportunities and risks as generative AI is embraced around the world. "We think it's still too early to declare the AI (artificial intelligence) 'winners' and 'losers' in the consumer internet space. Stocks to watch Barclays named several stocks that it says screen well, including U.S. tech giants Google , Meta and Amazon . Barclays warned that, for these companies, generative AI could make audience acquisition more difficult and limit opportunities for investments.
Persons: Stocks, Michael Bloom Organizations: Barclays, Google, Meta Locations: China, U.S, Tencent, disruptors
STOCKHOLM, Sept 6 (Reuters) - The EU Commission on Wednesday designated 22 services of six major tech companies as "gatekeepers" of online services providing messaging to video sharing in its latest crackdown on Big Tech. Alphabet's Google had the highest number of services, including Android operating system, Maps and Search, which would face tougher rules. "It's D-Day for #DMA!," EU industry chief Thierry Breton said on X, formerly known as Twitter. "The most impactful online companies will now have to play by our EU rules." A Microsoft spokesperson said it accepts its gatekeeper designation, while Meta, Google and Amazon spokespersons said they were reviewing the designations.
Persons: WhatsApp, Thierry Breton, TikTok, Stavroula Vryna, Clifford Chance, Supantha Mukherjee, Foo Yun Chee, Martin Coulter, Jason Neely, David Evans Organizations: EU, Big Tech, Apple, Microsoft, ByteDance, Google, Android, Facebook, Justice, Digital Services, Meta, Gmail, Edge, Thomson Locations: STOCKHOLM, Luxembourg, iMessage, Stockholm, Brussels, London
LONDON, Aug 24 (Reuters) - More than a dozen of the world's biggest tech companies face unprecedented legal scrutiny, as the European Union's sweeping Digital Services Act (DSA) imposes new rules on content moderation, user privacy and transparency this month. The EU is seen as the global leader in tech regulation, with more wide-ranging pieces of legislation – such as the Digital Markets Act and the AI Act – on the way. For now, the rules only apply to 19 of the largest online platforms, those with more than 45 million users in the EU. Researchers removed the ads before they were published, so no Facebook users saw them. It will soon become obvious if any of the designated companies had "skirted their legal responsibilities," said Hayes.
Persons: , Kingsley Hayes, Keller Postman, Eko, Meta, TikTok, Zalando, Hayes, Martin Coulter, Josie Kao Organizations: Digital Services, Facebook, Google, Digital Markets, DSA, Reuters, European Commission, Twitter, YouTube, Global, Amazon, Thomson Locations: EU, Europe, Ireland, Luxembourg
The logo of Google is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsBRUSSELS, Aug 24 (Reuters) - Google will provide more information on targeted advertisements and give researchers more access to data on how its products work, to comply with landmark European Union online content rules, the Alphabet (GOOGL.O) unit said on Thursday. "We will increase data access for researchers looking to understand more about how Google Search, YouTube, Google Maps, Google Play and Shopping work in practice, and conducting research related to understanding systemic content risks in the EU," she said. It will roll out a new Transparency Center for people to access information about its policies on a product-by-product basis. Reporting by Foo Yun Chee; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Charles Platiau, Laurie Richardson, Foo Yun Chee, Devika Organizations: Google, Viva Tech, REUTERS, Rights, European Union, Digital Services, Microsoft, Twitter, HK, DSA, Center, Thomson Locations: Paris, France, U.S
European Commissioner for Internal Market Thierry Breton attends a news conference following an informal video conference of internal market and industry ministers in Brussels, Belgium February 25, 2021. These very large online platforms and very large online search engines have until Friday to provide their first annual risk assessment to the European Commission. "Complying with the DSA is not a punishment – it is an opportunity for these online platforms to reinforce their brand value and reputation as a trustworthy site," Breton said in a statement. "My services and I will thoroughly enforce the DSA, and fully use our new powers to investigate and sanction platforms where warranted," he said. Reporting by Foo Yun Chee; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
Persons: Thierry Breton, Olivier Hoslet, Breton, Foo Yun Chee, Chizu Organizations: Internal, Rights, Google, Microsoft, Twitter, Digital Services, DSA, HK, European Commission, Thomson Locations: Brussels, Belgium, Europe
Carbon accounting startups peaked in 2021, raising over $5 billion from investors. The rise of carbon accountingThere are around 50 European carbon accounting companies, many of which didn't exist before 2019, according to Insider's own research. Venture capitalists are typically bullish on SaaS because it can scale quickly with few overheads, which is the promise many carbon accounting companies make. Carbon accounting business models often fell short of true SaaS scalability and instead relied on employees doing tasks manually, despite touting automation, investors said. The next generation of carbon accounting companies should be hyper-focused on one niche – for example, accounting for methane in the agricultural industry or water use.
Persons: Niklas Kaskeala, Antero Vartia, grimly, Kaskeala, That's, Namrata Sandhu, Luca Schmid, ClimateTrade, Germany's, Australia's Envizi, EcoOnline, Germany's Planetly, Buyers aren't Organizations: Sequoia, Octopus Ventures, Cherry Ventures, Balderton, Investors, Venture, Germany's TeamClimate, Watershed, IBM, Sage, SoftBank, KPMG, Enterprise, SAP, Oracle Locations: Helsinki, Finnish, Coatue, Europe, Zalando, London
Amazon's challenge at the Luxembourg-based General Court, Europe's second highest, is the first by a Big Tech company and came two weeks after German online retailer Zalando (ZALG.DE) sued the European Commission over the same issue. Under the Digital Services Act (DSA), which came into force last year, 19 online platforms and search engines were labelled as very large online platforms (VLOP) as they have more than 45 million users. The VLOP designation requires companies to do more to tackle illegal online content. "If the VLOP designation were to be applied to Amazon and not to other large retailers across the EU, Amazon would be unfairly singled out and forced to meet onerous administrative obligations that don’t benefit EU consumers," an Amazon spokesperson said. "Amazon doesn’t fit this description of a 'Very Large Online Platform’ under the DSA and therefore should not be designated as such," the spokesperson said.
Persons: Foo Yun Chee, Sharon Singleton Organizations: Union, Big Tech, European Commission, Digital Services, EU, Amazon, DSA, Thomson Locations: BRUSSELS, Luxembourg, U.S
Amazon is fighting its inclusion in the European Union's list of companies that are subject to landmark online content rules, marking the first U.S. challenge to the proposed legislation. Fellow U.S. tech giants Google , Meta and Apple are also subject to the rules. Amazon disputed it being labeled a VLOP under the act, saying the designation applies to companies with advertising as their primary revenue and that distribute speech and information. "If the VLOP designation were to be applied to Amazon and not to other large retailers across the EU, Amazon would be unfairly singled out and forced to meet onerous administrative obligations that don't benefit EU consumers." Last month, German online fashion and lifestyle retailer Zalando filed a suit contesting its designation as a VLOP, arguing retail constitutes the majority of its business.
Persons: Zalando Organizations: EU's Digital Services, U.S, Google, Apple, Amazon, EU, European Commission, DSA Locations: U.S
STOCKHOLM, June 29 (Reuters) - H&M (HMb.ST) plans to sell more third-party brands online and in stores, CEO Helena Helmersson said on Thursday, as one of the world's top fashion retailers ramps up its effort to take on e-commerce rivals. Its marketplace strategy, launched last year, is aimed at challenging online rivals like Zalando, ASOS, and fast-fashion giant Shein as competition intensifies. Inditex-owned (ITX.MC) Zara features other brands only for exclusive collaborations, such as with South Korean label Ader Error and British shoemaker Clarks. "This has been really well received by customers who also complement the H&M assortment with other brands," Helmersson said. "Inditex's thinking is focused on its own brands, own stores and own online," said Lowery.
Persons: Helena Helmersson, M's, Zara, Clarks, Helmersson, Geoff Lowery, Inditex's Zara, Lowery, Marie, Helen Reid, Josephine Mason, Emma Rumney Organizations: Adidas, South, Marie Mannes, Thomson Locations: STOCKHOLM, Cos, Swedish, Monki, Hong Kong, Stockholm, London
BRUSSELS, June 27 (Reuters) - Zalando (ZALG.DE), Europe's biggest online fashion retailer, on Tuesday sued the European Commission for putting it in the same category as Alphabet's (GOOGL.O) Google and Meta Platforms (META.O) regarding new and tough EU online content rules. Under rules known as the Digital Services Act (DSA) which came into force last year, Zalando was labelled a very large online platform (VLOP) because it has more than 45 million users. EU industry chief Thierry Breton in April labelled 19 online platforms and search engines including five Alphabet subsidiaries, two Meta units, two Microsoft (MSFT.O) businesses, Twitter, Alibaba's (9988.HK) AliExpress and Zalando as VLOPs. "The European Commission misinterpreted our user numbers and failed to acknowledge our mainly retail business model. The number of European visitors who connect with our Partners is far below the DSA's threshold to be considered as a VLOP," Zalando CEO Robert Gentz said in a statement.
Persons: Zalando, Thierry Breton, Germany's Zalando, Robert Gentz, Breton, Gentz, Foo Yun, Christina Fincher Organizations: Tuesday, European Commission, Google, Digital Services, Microsoft, Twitter, HK, Justice, European Union, Commission, Partners, Thomson Locations: BRUSSELS, Luxembourg
Since joining investment management firm in 2000, Allen's worked his way up the corporate ladder, taking the helm as portfolio manager of the T. Rowe Price Science & Technology (PRSCX) fund in 2009. In the wake of the latest artificial intelligence boom that's driven up last year's beaten-up technology stocks, it's skyrocketed nearly 38% in 2023. Longer-term, the fund, with a 0.84% expense ratio, offers 10- and 15-year trailing returns of more than 16% and about 13%, respectively. This year, Allen has benefited from a spectacular run-up in technology stocks, fueled by a mania for all things tied to artificial intelligence. "It's really important to learn over time when things go well and especially when things don't go well," Allen said.
Persons: Ken Allen, Rowe Price, Allen's, Allen, Salesforce, it's, Morningstar, I've Organizations: Colby College, Rowe Price Science & Technology, PRSCX, Apple, Netflix, Nvidia, Devices, Microsoft, Zalando, Amazon, Meta, Accenture, Mastercard, Texas, Texas Instruments Locations: Maine, Baltimore, Salesforce, Zalando, buybacks
Mattel Experiments With ChatGPT in Cybersecurity
  + stars: | 2023-06-08 | by ( Catherine Stupp | ) www.wsj.com   time to read: +3 min
Toy maker Mattel is experimenting with generative-artificial-intelligence tools including ChatGPT to help its cybersecurity teams, but the company’s head of cybersecurity said the risk of inaccurate results from the new technology is too great to deploy it broadly. But many results from queries to the AI tools are incorrect, even if they appear convincing, he said. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. All Mattel employees using ChatGPT are receiving training on how to use generative AI tools securely, he said. German e-commerce giant Zalando plans to offer a shopping assistant using ChatGPT.
Persons: cybersecurity, Tom Le, ” Le, OpenAI, Mattel’s Le, Ilia Kolochenko, , Goldman Sachs, Le, Catherine Stupp Organizations: Mattel, Training, Employees, JPMorgan, Verizon, Commonwealth Bank of Australia
These European companies cut jobs this year
  + stars: | 2023-05-16 | by ( ) www.reuters.com   time to read: +4 min
TECH* ERICSSON (ERICb.ST): the telecom equipment maker will lay off 8,500 employees globally as part of its plan to cut costs, a memo seen by Reuters said. * NOKIA (NOKIA.HE): the Finnish telecom equipment maker said on May 3 it plans to cut up to 208 jobs in Finland. * PHILIPS (PHG.AS): the Dutch medical equipment maker on Jan. 30 said it would cut 6,000 jobs to counter falling sales and after a massive recall of its respiratory machines. * SAP (SAPG.DE): the German software company said on Jan. 26 it planned to shed 3,000 jobs, 2.5% of its global workforce, to cut costs and focus on its cloud business. * EVONIK (EVKn.DE): the German specialty chemicals producer said on April 3 it would cut 200 jobs as part of restructuring of its pet food unit.
EU singles out 19 tech giants for online content rules
  + stars: | 2023-04-25 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +2 min
The 19 companies include Alphabet's Google Maps, Google Play, Google Search, Google Shopping and YouTube, Meta's Facebook and Instagram, Amazon's (AMZN.O) Marketplace and Apple's App Store. The others are Microsoft's two units Linkedin and Bing, booking.com (BKNG.O), Pinterest (PINS.N), Snap Inc's (SNAP.N) Snapchat, TikTok, Twitter, Wikipedia, Zalando (ZALG.DE) and Alibaba's (9988.HK) AliExpress. "We consider these 19 online platforms and search engines have become systematically relevant and have special responsibilities to make the internet safer," Breton told reporters. Breton singled out Facebook's content moderation system for criticism because of its role in building opinions on key issues. So I look forward to an invitation to Bytedance's headquarters to understand better the origin of Tiktok," Breton said.
The European Commission, the executive arm of the EU, in late 2020 presented new legislation on how regulators should keep a closer eye on tech giants. Under this Digital Services Act (DSA), which was implemented four months ago, regulators are able to police content to reduce harmful comments and set rules for the use of artificial intelligence. European regulators have previously warned Elon Musk, CEO of Twitter, that his firm faces significant amounts of work to comply with the new rulebook. He added in a statement Tuesday: "The countdown is starting for 19 very large online platforms and search engines to fully comply with the special obligations that the Digital Services Act imposes on them." "The Digital Services Act is comprehensive and will be a challenge for online intermediaries to get their head around, with the largest players facing the biggest impact.
Retailers to tackle sustainability at key conference
  + stars: | 2023-04-24 | by ( ) www.reuters.com   time to read: +3 min
They will discuss the challenges facing their businesses as inflation causes consumers in Europe and elsewhere to reduce spending. The European Commission is drawing up new rules on textile waste that will make companies responsible for managing the waste their products create. Decathlon, the world's biggest sporting goods retailer, sells repair services, spare parts and tools for people to repair their own bicycles, tents, and kayaks. Retailers are working with local authorities ahead of an EU law that will require member states to separately collect textile waste by Jan. 1, 2025. Firms including Decathlon, Mango, Inditex, and IKEA recently created an association in Spain for the management of textile waste.
Today, all eyes will be on central bank chairman Jerome Powell as he begins two days of hearings on Capitol Hill. Chairman of the Federal Reserve nominee Jerome Powell testifies during his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee November 28, 2017 on Capitol Hill in Washington, DC. Fed policy aside, the stock market has marched higher to start the year, with the S&P 500 gaining about 6% over the last nine weeks. US stock futures rise early Tuesday, as investors await the two-day testimony of Fed Chair Jerome Powell. The bear market rally isn't over yet as stocks just survived a crucial test.
Online fashion retailer Zalando to cut hundreds of jobs
  + stars: | 2023-02-21 | by ( ) www.reuters.com   time to read: +2 min
BERLIN, Feb 21 (Reuters) - German online fashion retailer Zalando (ZALG.DE) is to cut hundreds of jobs across the company, citing over-expansion in some areas and a more difficult economic environment since the coronavirus pandemic. Zalando said the pandemic had boosted business in 2020 and 2021, but these tailwinds had faded since 2022 and the macroeconomic environment had become more challenging. Zalando, which has a workforce of some 17,000, did not give precise details on which areas would be affected by the cuts. The planned job cuts were first reported by the Financial Times, which said the online retailer's workforce would shrink by up to 5%. The company is due to report full-year earnings next month.
German VC Planet A has just closed its first 160 million euros (around $172 million) fund. Planet A, a European venture capital firm, has just closed its inaugural 160 million euros (around $172 million) fund to back startups doing just that. Founded in 2020, Planet A is looking for market-ready tech startups with significant impact potential in climate change mitigation, waste reduction, resource savings, and biodiversity protection. The early-stage investor will write checks of between 500,000 euros to 3 million euros to startups in Europe, the UK, and Israel. The Planet A team intended to raise 100 million euros, Detzner said, so the fund was oversubscribed.
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But other influencers, when they find themselves flooded with gifted products, turn to reselling them online. One particular brand Campbell worked with in the past would even vet influencers by checking if they were reselling gifted products on third-party websites before partnering with them. Brands and audiences may lose trust in influencers who resellFor many brands, seeing an influencer reselling a gifted product is a definite red flag. Influencers who consider reselling gifted products should also be careful about their taxes, said Qianna Smith Bruneteau, founder of the American Influencer Council. Reselling is most common in niches like fashionThe practice of reselling gifted products on second-hand websites like Depop or Poshmark is most common in the fashion space, industry insiders say.
But other influencers, when they find themselves flooded with gifted products, turn to reselling them online. One particular brand Campbell worked with in the past would even vet influencers by checking if they were reselling gifted products on third-party websites before partnering with them. Brands and audiences may lose trust in influencers who resellFor many brands, seeing an influencer reselling a gifted product is a definite red flag. Influencers who consider reselling gifted products should also be careful about their taxes, said Qianna Smith Bruneteau, founder of the American Influencer Council. Reselling is most common in niches like fashionThe practice of reselling gifted products on second-hand websites like Depop or Poshmark is most common in the fashion space, industry insiders say.
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