European union

The European Union has seen imports of liquid natural gas from Russia rise to record levels this year, sending billions to Moscow while waxing poetic about their support of Ukraine. Though shipments of natural gas sent via pipelines from Russia to Europe have fallen sharply since the full-scale invasion of Ukraine in February, Europe has ironically turned to Russian liquefied natural gas (LNG), a chilled form of the gas that can be shipped in sea tankers, to make up the difference. According to research conducted by the energy market analysis firm ICIS for the German business newspaper Handelsblatt found that imports of LNG from Russia rose by 21 per cent over pre-war levels to the EU states and Great Britain. The analysis found that between January and November of this year, the EU plus the UK paid Moscow nearly 27 billion euros ($28.4/£23.5 billion) in exchange for the record flows of liquid natural gas. The European money spent on Russian LNG alone, is just under the … [Read more...] about Europe Imports Record Levels of Russian Liquid Natural Gas

Meta-owned platforms Facebook and Instagram shouldn't be able to hide behind terms of service in requiring users to agree to targeted ads based on their online activity when using the apps, privacy regulators in the European Union reportedly ruled on Monday. The ruling hasn't been disclosed publicly, but The Wall Street Journal reported that it calls on Ireland's Data Protection Commission, which regulates Meta in the EU, to issue public orders reflecting the decision and levy fines. The Journal cited unnamed people familiar with the regulators' decision. Meta can appeal the ruling, but if upheld, the decision could deal a significant blow to the tech giant's lucrative advertising business, the Journal said. With less data to rely on for advertising, personalized ads across Facebook and Instagram would be far less effective. "This is not the final decision and it is too early to speculate," Meta told CNET in an email. A company spokesperson said the EU's existing and … [Read more...] about Meta’s Targeted Ad Model Could Face EU Restrictions

Meta has already been coping with a slump in ad revenue this year, and now a decision from European Union privacy regulators threatens to reduce Meta’s ad revenue even more next year. According to Reuters , a person familiar with the matter said that the European Data Protection Board ruled Monday that Meta cannot continue targeting ads based on its own users’ online activity—like the Instagram reels they've viewed or Facebook profiles they've clicked. If the EU data privacy watchdog gets its way, Meta could face “hefty fines,” Reuters reported, for continuing to rely on its terms of service to gain user consent for running personalized ads. But this decision has not yet been publicly disclosed, The Wall Street Journal reported , and it won’t be finalized until Ireland’s Data Protection Commission (DPC) issues public orders. That could take a month, and at any point, Meta could appeal either decision. Reportedly, neither board can comment yet on their decisions. Meta told … [Read more...] about Meta needs explicit user consent to run personalized ads, EU watchdog rules

Microsoft 's acquisition of Activision Blizzard has been under scrutiny in multiple markets with direct competitor Sony being the "loudest objector" of the deal. The Japanese company has argued that if the purchase goes through Activision's cash cow Call of Duty franchise will become an Xbox exclusive. However, the Windows-maker has rejected these claims saying the games will be available on PlayStation as well. In the latest development, the company's top executive has revealed that Microsoft has offered Sony a 10-year contract to make each new “Call of Duty” release available on PlayStation. He also notes how this offer is consumer-friendly and will help innovation. Currently, the deal is under scrutiny in the US by the Federal Trade Commission (FTC), Competition and Markets Authority in the UK and antitrust regulators in the European Union (EU). Brad Smith, vice chairman and president of Microsoft, wrote in an article in The Wall Street Journal … [Read more...] about microsoft: Explained: Why FTC ‘killing’ Microsoft’s biggest gaming deal may be a huge mistake