Business mogul Kevin O’Leary wants to invest in a US refinery, says fossil fuels will stick around
April 13, 2023
After violating the European Union’s General Data Protection Regulations (GDPR), Amazon was fined $887 million.
The data privacy laws, enacted three years ago, include a ban on targeting advertising, which the EU claims Amazon’s Europe Core continued despite the policy. In its legal filing with the US Securities and Exchange Commission, the Luxembourg National Commission for Data Protection (CNPD) said, “Amazon’s processing of personal data did not comply with the EU General Data Protection Regulation. The decision imposes a fine of €746 million and corresponding practice revisions.”
To date, Amazon’s fine is the largest imposed by the EU commission. The filing continued, “An increasing number of jurisdictions are considering or have adopted laws or administrative practices that impose new tax measures, including revenue-based taxes, targeting online commerce and the remote selling of goods and services.”
Amazon’s fine relates to the EU’s taxes on online advertising and marketplace service revenues. America may implement similar data privacy policies, in June House Democrats introduced five new bills meant to chip away at the power of big tech companies, targeting a variety of practices that antitrust advocates say are stifling competition.
These measures are the House Judiciary Committee’s historic, 16-month long investigation into the business tactics of companies like Apple, Amazon, Facebook, and Google.
ARTICLE: ANTOINETTE AHO
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: BUSINESS INSIDER