TUESDAY, 25 JUL 2017

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
GloriaJeans_266x90px
IMH LTD

Lakkotrypis: Cyprus' Best Answer to Turkish Provocations is to Continue with Energy Plans

Anastasiades to Receive UN Envoy in Cyprus

IMH LTD
MTN_07/07-10/04_468x60px

INTERNATIONAL

brought to you by CIPA

Facebook Fined €110M over WhatsApp Deal

Facebook Fined €110M over WhatsApp Deal

European Union antitrust regulators fined Facebook 110 million euros ($122 million) on May 18 for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014, Reuters reports.

Calling it a "proportionate and deterrent fine", the European Commission, which acts as the EU's competition watchdog, said Facebook had said it could not automatically match user accounts on its namesake platform and WhatsApp but two years later launched a service that did exactly that.

"The Commission has found that, contrary to Facebook's statements in the 2014 merger review process, the technical possibility of automatically matching Facebook and WhatsApp users' identities already existed in 2014, and that Facebook staff were aware of such a possibility," the Commission said.

Facebook said in a statement the errors made in its 2014 filings were not intentional and that the Commission had confirmed they had not affected the outcome of the merger review.

"Today's announcement brings this matter to a close," Facebook said.

The fine would not reverse the Commission's decision to clear the purchase of WhatsApp and was unrelated to separate investigations into data protection issues, it added.

The Commission could have fined Facebook up to 1 percent of its turnover - which would have been $276 million based on 2016 results - but said that Facebook had cooperated with the proceedings and acknowledged its infringement.

According to Reuters, the EU sanction comes after Facebook received a separate 150,000-euro fine on Tuesday by a French data watchdog for failing to prevent its users' data being accessed by advertisers.

Last week the Italian antitrust authorities levied a 3 million-euro fine on WhatsApp for allegedly obliging users to agree to share their personal data with Facebook.

MORE ON INTERNATIONAL

Eurostat: Government Deficit Down To 0.9% of GDP in the Euro Area in Q1 2017

In the first quarter of 2017, the seasonally adjusted general government deficit to GDP ...

How Is The European Union Progressing Towards Its Europe 2020 Targets?

The Europe 2020 strategy, adopted by the European Council in June 2010, is the European ...

McCormick to Buy Reckitt for $4.2 Billion

McCormick & Co Inc said it would buy the food business of British consumer goods ...

FROM AROUND GOLDNEWS

   

Cyprus and Turkey among Cheapest Holiday Destinations in Europe

The Post Office Family Holiday Report is based on a ‘beach barometer’ – a look at 12 different seaside extras that families are likely ...
   

Paphos Experience the Best Summer Season

Hotels in Paphos say they are experiencing the busiest tourist season ever, and for the first six months of the year, visitor numbers have broken all previous ...
   

New Law for Payment of Tax Arrears by Instalments Comes Into Effect

The Process of Adjustment of Tax Arrears Law 2017 establishes a procedure for settling tax arrears by monthly instalments. It covers  all nationally ...
   

Leptos Adonis Beach Villas in Paphos

“Adonis Beach Villas”, is an exclusive modern and luxury beachfront development, by Leptos Estates. It is located just a short drive from Paphos ...
   

Anastasiades to Receive UN Envoy in Cyprus

UN Secretary General’s Special Advisor on Cyprus Espen Barth Eide will be received today, June 24, by Cyprus President Nicos Anastasiades, the first ...
   

Anastasiades Announces New €70M Projects for Larnaca

President Anastasiades has announced a series of new projects for the Larnaca District with the estimated value amounting to 70.5 million euro. The ...
   

Lakkotrypis: Cyprus' Best Answer to Turkish Provocations is to Continue with Energy Plans

The best answer that the Republic of Cyprus can provide for Turkey’s provocations is to continue and complete its energy plans, stated Energy Minister ...
   

Cyprus MPs to Attend World Hellenic Interparliamentary Union Meeting in Athens

Members of the House of Representatives have departed for Athens to take part in the 11th General Assembly of the World Hellenic Interparliamentary Union ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

PwC_10/07-30/07_300x250px
Gold_Issue_300x250px

IMH LTD