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By Byron Kaye SYDNEY (Reuters) -An Australian court ordered Facebook owner Meta Platforms to pay fines totalling A$20 million ($14 million) for collecting user data through a smartphone application purporting to protect privacy without disclosing its actions. Australia’s Federal Court also ordered Meta, through its subsidiaries Facebook Israel and the now-discontinued app, Onavo, to pay A$400,000 in legal costs to the Australian Competition and Consumer Commission, which brought the civil […]

By Byron Kaye SYDNEY (Reuters) -An Australian court ordered Facebook owner Meta Platforms to pay fines totalling A$20 million ($14 million) for collecting user data through a smartphone application purporting to protect privacy without disclosing its actions. Australia’s Federal Court also ordered Meta, through its subsidiaries Facebook Israel and the now-discontinued app, Onavo, to pay A$400,000 in legal costs to the Australian Competition and Consumer Commission, which brought the civil […]

By Byron Kaye SYDNEY (Reuters) -An Australian court ordered Facebook owner Meta Platforms to pay fines totalling A$20 million ($14 million) for collecting user data through a smartphone application purporting to protect privacy without disclosing its actions. Australia’s Federal Court also ordered Meta, through its subsidiaries Facebook Israel and the now-discontinued app, Onavo, to pay A$400,000 in legal costs to the Australian Competition and Consumer Commission, which brought the civil […]

By Byron Kaye SYDNEY (Reuters) -An Australian court ordered Facebook owner Meta Platforms to pay fines totalling A$20 million ($14 million) for collecting user data through a smartphone application purporting to protect privacy without disclosing its actions. Australia’s Federal Court also ordered Meta, through its subsidiaries Facebook Israel and the now-discontinued app, Onavo, to pay A$400,000 in legal costs to the Australian Competition and Consumer Commission, which brought the civil […]

By Marc Jones LONDON (Reuters) – The most comprehensive survey of the global investment industry on central bank digital currencies to date has shown both limited support and a lack of understanding of how a digital dollar, euro, yen or pound would work. The survey carried out by the CFA Institute, a worldwide association for bankers, investors and finance chiefs, found that only 42% of the more than 4,150 respondents […]

By Joyce Lee and Heekyong Yang SEOUL (Reuters) -South Korea’s SK Hynix on Wednesday posted a worse-than-expected quarterly operating loss on weak memory chip pricing and demand, but said the market was beginning to recover from a deep downturn. In particular, memory chip demand from corporate buyers and gaming personal computers is expected to increase in the second half of the year versus the first, the world’s second-biggest memory chip […]

By Phil Stewart WASHINGTON (Reuters) – A U.S. federal judge on Tuesday voided a 2017 court-martial conviction against Bowe Bergdahl, an Army sergeant who walked off his post in 2009 only to be captured by the Taliban and spend five years as their prisoner. Bergdahl’s conviction in 2017 left him with a dishonorable discharge, reduction in rank to the lowest enlisted pay grade and an effective fine of $10,000. Tuesday’s […]

(Reuters) – The U.S. Federal Trade Commission (FTC) is finalizing its long-awaited antitrust lawsuit against Amazon in a move that could ultimately break up parts of the company, Politico reported on Tuesday. The wide-ranging lawsuit is expected as soon as August and will likely challenge a host of Amazon’s business practices, the report said, citing people with knowledge of the matter. The complaint could focus on challenges to Amazon Prime, […]

By Akash Sriram and Stephen Nellis (Reuters) – Artificial intelligence is expected to pay off big for tech giants including Microsoft and Alphabet someday. But expect deeper investments before gains trickle to the bottom line, the companies said on Tuesday. Microsoft said costs rose sharply as it built new data centers to support AI and that capital expenditures will continue to rise as it buys chips from the likes of […]