Tag: Brands

Amazon discloses record-shattering $887M GDPR fine.

Amazon on Friday disclosed it has received notice of a €746 million (U.S. $887 million) fine in Luxembourg under the General Data Protection Regulation (GDPR) for unlawful processing of personal data.

The fine, which has yet to be confirmed by the Luxembourg National Commission for Data Protection (CNPD), would completely shift the enforcement landscape of the EU’s landmark privacy law. The total is more than double the combined amount of the 741 penalties handed out under the GDPR to date, according to Privacy Affairs, and nearly 15 times larger than the €50 million penalty Google was hit with in France in 2019 that has stood as the record since.

“Maintaining the security of our customers’ information and their trust are top priorities,” the spokesperson said. “There has been no data breach, and no customer data has been exposed to any third party. These facts are undisputed. We strongly disagree with the CNPD’s ruling, and we intend to appeal. The decision relating to how we show customers relevant advertising relies on subjective and untested interpretations of European privacy law, and the proposed fine is entirely out of proportion with even that interpretation.”

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In the filing, Amazon—whose European headquarters are based in Luxembourg—said it was notified of the fine by CNPD on July 16. The decision by the regulator further calls on Amazon to revise its data privacy practices.

The Wall Street Journal in June reported the Luxembourg data protection authority was preparing to fine Amazon more than $425 million over the way it collects personal data and uses it for marketing purposes. It is unclear what might have caused the fine to double. The Luxembourg DPA “does not comment on specific cases.”

The GDPR has the potential to fine companies up to 4 percent of their global revenues, which would be well into the billions for a firm like Amazon.

Popular Chinese app WeChat suspends new registrations

In a social media post, Tencent-owned WeChat, known as Weixin in China, said the suspension was related to an upgrade of security technology “according to relevant laws and regulations”

Tech giant Tencent Holdings’ WeChat, China’s most popular messaging app, said it was suspending registration of new users in mainland China until early August as it was undergoing a technical upgrade.

The development comes amid a widening crackdown by Chinese regulators on technology and private tutoring companies.

In a social media post, WeChat, known as Weixin in China, said the suspension was related to an upgrade of security technology “according to relevant laws and regulations”.

“During this time, registration of new Weixin personal and official accounts has been temporarily suspended. Registration services will be restored after the upgrade is complete, which is expected in early August,” it said.

It did not elaborate on either the upgrade or what the laws or regulations were.

Tencent’s stocks in Hong Kong went down by nearly 9% on Tuesday, its worst day in a decade, reports said.

Recently, cab-hailing giant Didi suspended registration of new users after several departments of the Chinese government launched an investigation into alleged misuse of private data.

Earlier, ecommerce giant Alibaba faced investigations for alleged monopolistic behaviour.
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WeChat is the latest in that fast-growing list.

The app says it has around 1.2 billion users worldwide with the majority of users on the Chinese mainland.

Hundreds of millions of people in China use the app to message friends, make payments, book taxis, and share highlights of their lives under a category of update called “moments”.

Since its launch about a decade ago, the app has come to occupy a central place in the social media lives of Chinese citizens not only in China, but among the diaspora in the world.

Its use became even more widespread through the launch of mini-programmes that allow users to carry out a wide range of functions such as paying utility bills.

In January this year, reports said WeChat’s brand value increased 25% to $67.9 billion.

Beijing-based tech consultant Zhou Zhanggui told Reuters that investors were over-reacting to the “rectification” of Chinese tech companies.

“The suspension of new user registrations on WeChat has no substantial impact on Tencent in the short term,” Zhou said

Branson Vs. Musk Vs. Bezos: Billionaire Space Race Heats Up

Branson Vs. Musk Vs. Bezos: Billionaire Space Race Heats Up As Virgin Galactic Is Cleared For Passengers.

Virgin Galactic, the space tourism venture of billionaire Sir Richard Branson, surged more than 20% Friday after the company said it received the license it needs to fly passengers into space, upping pressure on its rivals in the emerging space tourism sector and setting the stage for a standoff this summer as billionaires Jeff Bezos, Branson and Elon Musk all push to edge ahead.

Virgin Galactic’s stock was up around 20% on Friday morning following its announcement the Federal Aviation Administration had granted it a license to carry customers to space.

With it, Branson, who launched Galactic in 2004, can finally make good on his promises that commercial spaceflight is just around the corner, which he has been making for the better part of two decades.

Galactic is planning its first fully crewed flight this summer, which could see Branson beat Amazon’s Jeff Bezos into space.

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Bezos, through his own aerospace company Blue Origin, is scheduled to be part of a crewed flight to the edge of space on July 20.

Branson’s efforts to open up commercial space travel have been turbulent, facing repeated setbacks as he repeatedly proclaimed it was just round the corner and comes on the heels of a successful test flight in May. A sizable fraction of his fortune is now derived from his stake in Galactic. The long-awaited green light comes at a crucial time in the dash to open up space to civilians, as Galactic competes with ventures from Musk’s SpaceX and Bezos, both also at advanced stages.

Galactic has not announced the date for its next flight, though it is believed this will be before Bezos’ in July. Bezos, in turn, jumped in front of Musk’s SpaceX, which plans an all-civilian mission at the end of 2021 (SpaceX has already launched several NASA-trained crews to the International Space Station). All will mark milestones in the race to open up space

600. That’s how many people have reportedly already made reservations with Virgin Galactic, which will take off from a site in New Mexico. Tickets cost $250,000 each.

QUIERO MAS MODERN MEDITERRANEAN RESTAURANT IN HONGKONG

Restaurateur Rajeev Bhasin started his career in the hospitality industry with the Taj group of hotels in the 80’s. In 1991 opportunity brought him to Hongkong and started working as a manager in a reputed Indian restaurant “Gaylord”. After that Rajeev was unstoppable opening almost a dozen dining and entertainment concept restaurants – everything from an Australian steakhouse , oceanside brasserie, fine-dining Italian Cucina…to a casual Vietnamese Café. There literally seemed no limit to Rajeev’s talent and determination.

In 2012 Rajeev started his own company and opened three of his own highly successful restaurants across Hong Kong . “Tamarind”, a delightful pan-Asian diner blending the flavours of ‘Sianam’ – Thai & Vietnamese “Namo” – avant Thai high-dining at its finest and “Gunpowder” where freshly prepared Indian dishes are served with a sexy, modern twist .
Rajeev explains his inspiration – “The Covid pandemic has made me look ahead to work towards satisfying the changing demands of Hong Kong diners, and especially the millennials who are used to frequently travelling to the world’s top destinations for food, wine and adventure , but due to the pandemic are restricted and unable to experience new cultures and cuisines. An all-time favourite has always been Spanish cuisine, but tastes and demands are elevating and we’re looking to create a Modern Mediterranean cuisine (“Mod-Med”) that will feature the Spanish culinary basics but with touches of foodie influences from across the Mediterranean coast – France, Italy, Greece and perhaps even North Africa .
Rajeev’s newest venue “Quiero Mas” (“I want more”) has cobalt blue and warm-wood hued interiors by the uber-creative Hernan Zanghellini .Diners will enter the penthouse-level main Dining Room through a warm and inviting cocktail lounge where they can select from the regional wine and champagne carte, Spanish G&T concoctions and one of ‘Barca’s best’ brews on-tap and or perhaps even a Grappa aperitif and a complimentary pintxo at the bar before dinner.

The team is headed by Artisan-Chef, Barcelona native Alex Fargas, who’s been in Hong Kong for over a decade wowing the palettes of both the locals and expatriates alike with his award-winning contemporary Spanish concepts . Chef Alex will be bringing to Quiero Más a new, imaginative, wide-canvas, Mod-Med menu featuring the very best of the culinary traditions of the “Western Sea” coast-to-coast, blended to a fresh and contemporary style.
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One level up is the sky-lounge rooftop bar for a nightcap (or more!), soaking in the cool breezes and stunning City views blended with background vibes of the resident DJ.
For Rajeev , “Quiero Más is an opportunity to shine a positive light amongst the hardships of the past year and the team and I are looking forward to sharing all the creativity and inspiration of these fantastic cultures . It’ll be a unique two levels party place with great Spanish food and an exotic menu of wine and cocktails. Let the party begin at Quiero Más !

Website : www.silveroak.com.hk

TikTok: Now Collecting ‘Faceprints’ and ‘Voiceprints.’

Recently, TikTok made a change to its U.S. privacy policy, allowing the company to “automatically” collect new types of biometric data, including what it describes as “faceprints” and “voiceprints.” TikTok’s unclear intent, the permanence of the biometric data and potential future uses for it have caused concern among experts who say users’ security and privacy could be at risk.

On June 2, TikTok updated the “Information we collect automatically” portion of its privacy policy to include a new section called “Image and Audio Information,” giving itself permission to gather certain physical and behavioral characteristics from its users’ content. The increasingly popular video sharing app may now collect biometric information such as “faceprints and voiceprints,” but the update doesn’t define these terms or what the company plans to do with the data.

“Generally speaking, these policy changes are very concerning,” Douglas Cuthbertson, a partner in Lieff Cabraser’s Privacy & Cybersecurity practice group, tells TIME. “The changes are vague in a lot of ways. TikTok does not explain what it will do with this biometric information, how and when it will seek consent before taking it, and what it means by ‘faceprints and voiceprints,’ which aren’t defined.”

To put TikTok’s popularity—and the amount of information it has access to—in perspective, it has 689 million global active users and ranks as the seventh most used social network in the world as of January 2021. In the U.S. alone, over 100 million Americans use TikTok every month while 50 million are on the app every day, according to figures shared by the company in August 2020. TikTok did not immediately respond to TIME’s request for comment.

Alessandro Acquisti, a professor of information technology and public policy at Carnegie Mellon University, notes that biometrics, and especially facial biometrics, are unique and permanent identifiers. He says that TikTok’s “faceprints” could potentially be used to re-identify an individual across a variety of scenarios. Since the information isn’t critical to the functioning of the app and the phrasing of the update is vague, Acquisti says it’s difficult to determine TikTok’s precise intent.

“Biometrics’ range of potential uses is vast: from benign, such as secure access to the app—think about how [Apple’s] iOS uses facial recognition for authentication—to chilling, such as mass re-identification and surveillance,” he says.

The provisions for how TikTok can use the data collected under the privacy policy’s “Image and Audio Information” section are broad.

“We may collect information about the images and audio that are a part of your User Content, such as identifying the objects and scenery that appear, the existence and location within an image of face and body features and attributes, the nature of the audio, and the text of the words spoken in your User Content,” the new section reads. “We may collect this information to enable special video effects, for content moderation, for demographic classification, for content and ad recommendations, and for other non-personally-identifying operations.”

It’s the last use on this list, “other non-personally-identifying operations,” that Cuthbertson says he takes particular issue with.

“It’s disingenuous to say these are ‘non personally-identifying’ operations,” he says, pointing out that a person’s unique “faceprint” or “voiceprint” could inherently be used to identify someone. “That’s not the way the mobile data ecosystem works anymore. You don’t need someone’s social security number to figure out who they are and how to monetize them.”

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Users should also take note of the open-ended nature of the uses listed in this section, says Derek Riley, the director of the Milwaukee School of Engineering’s computer science program. “If you want to have funny face filters that engage users, gathering this kind of information is necessary. But there are a lot of other potentially alarming things that can be done with it too,” he tells TIME. “Capturing that information means TikTok could use it within their application, or they could turn and share it with another actor, government or company.”

While TikTok’s privacy policy states that it “does not sell personal information to third parties,” it also says it may share the information it collects for “business purposes.”

“It’s one thing if TikTok can discreetly say, we’re taking this narrow band of information, here’s our description of the information so that you, as a user, really understand what we mean and here’s this very narrow way we’re going to use it,” Cuthbertson says. “Instead we have vague definitions of what the data even is and TikTok itself is vague about how and why they need to use it.”

The fact that TikTok is owned by the Chinese company Bytedance may also play a role in how people view this policy update, Riley says. While President Joe Biden signed an executive order on June 9 revoking former President Donald Trump’s attempts to ban TikTok in the U.S., some still view the app as a potential national security threat. TikTok has said it doesn’t share data with the Chinese government and wouldn’t do so if asked.

TikTok has also previously faced legal action over privacy-related issues. In February, the company agreed to pay $92 million to settle a class-action lawsuit alleging that it violated Illinois’ Biometric Information Privacy Act, the federal Video Privacy Protection Act, and other consumer and privacy protection laws by collecting users’ personal data, including data harvested by facial recognition technology, without consent and sharing the data with third-parties, some of which were based in China.

Now, the updated policy states that TikTok will seek user permission for this type of data collection “where required by law,” but doesn’t specify whether it’s referring to state law, federal law or both.

While there’s no federal U.S. law regulating the collection and use of biometric data, some states began passing their own laws more than a decade ago. Illinois led the way in 2008, with Texas, Washington, California, New York and Virginia all enacting their own biometric privacy protections in the years since. But it’s this legal gray area that demonstrates the need for more stringent standards, Cuthbertson says.

“Is it state law? Is it federal law? Even if it’s every applicable law, it’s still highly problematic,” he says. “That they will do what’s required by law as defined under the vague term ‘U.S. laws’ really highlights the need for more robust privacy laws and regulations that govern the collection of biometric information.”

Ultimately, maintaining awareness of what you’re consenting to by using the app is crucial, Riley says, especially when it comes to the app’s younger users. “It’s really important for individuals like teachers and parents to be able to inform younger individuals who see TikTok as a fun way to engage with their friends of the implications of this type of data collection,” he says. “It has a web of tangential outcomes that could turn out to be really problematic.”

Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Bezos Reclaims “World’s Richest” Title

Jeff Bezos Reclaims The Richest Person Title After 2-Weeks At Being The Second Richest.

Two weeks after losing the title of the richest person in the world to LVMH chief Bernard Arnault, Amazon’s Jeff Bezos reclaimed the No. 1 spot on Thursday according to Forbes.

Amazon shares closed more than 2% higher, boosting Bezos’ net worth by $3.5 billion, while shares in Arnault’s luxury conglomerate LVMH slumped by nearly 1%, slashing $1.4 billion from his fortune.

Bezos’ net worth now stands at $193.5 billion, Forbes estimates, compared to Arnault’s $192.9 billion. It’s been a rollercoaster few weeks for the two titans, who have been trading the top spot back and forth.

On May 24 and 25, Arnault briefly passed Bezos before the markets opened in New York and Amazon shares rose, giving the Amazon founder the upper hand.

Then, on May 27, Arnault took the lead and held it for two weeks. Earlier this year, Bezos was locked in a two-week fight for the top spot with a different mogul: Tesla and SpaceX boss Elon Musk.

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Most of Bezos’ net worth is tied up in his Amazon shares he owns about 10% of the e-commerce giant in addition to an estimated $19 billion worth of cash and investments, $500 million in real estate, plus aerospace company Blue Origin and the Washington Post.

On Monday, Bezos announced that he would be on board Blue Origin’s first crewed space flight on July 20, accompanied by his younger brother Mark and a third seat reserved for the winner of an online auction scheduled to end on June 22.

As the richest person on Earth and soon one of the few billionaires to ever be in space Bezos has seen enormous gains in his personal wealth over the past two years.

Since the depths of the Covid induced market crash in March 2020, Bezos has gotten $80.5 billion richer. Arnault has gained a staggering $116.9 billion over that time period, while Musk has added $128.7 billion to his fortune.

Bezos briefly reached a record net worth of $200 billion twice in the past year, first in August 2020 and then again in late April.

British Fashion Brand Timbuktu Comes Under Fire For Trademarking “Yoruba

Timbuktu Global trademarked the word “Yoruba” in 2015

A British fashion brand has come under criticism on social media for trademarking “Yoruba,” the name of an ethnic group in West Africa

Timbuktu, an outdoor clothing brand based in northern England, filed to trademark the word “Yoruba” in 2015, records from the UK’s Intellectual Property Office show.

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Although the registration sparked anger on Sunday when Gbemisola Isimi, the founder of CultureTree, an African cultural center in London, wrote that she had attempted to trademark “Yoruba Stars” and claimed she faced a opposition from Timbuktu due to its similarity to the phrase the company had registered.

In the United Kingdom, a proposed trademark can be challenged if it conflicts or bears similarity to one that was previously approved.

The Yoruba people are an ethnic group that inhabits western Africa, mainly the countries of Nigeria, Benin, and Togo. The Yoruba constitute around 35 million people in Africa. The vast majority of the Yoruba population is from Nigeria, where the Yoruba make up 15.5% of the country’s population, making them one of the largest ethnic groups in Africa.

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