Qld personalised number plates

Facebook should be forced to ­require advertisers to pass identity checks, a coalition of the world’s biggest brands has demanded amid rising concern over fraud and misinformation. The World Federation of Advertisers (WFA), which represents thousands of companies including top spenders such as Unilever, Vodafone and Volkswagen, has said forthcoming European laws should require social media networks to verify all advertisers. It is the latest case of big brands putting pressure on social media companies to clean up their services following a row over hate speech earlier this year and revelations that Facebook was ­providing faulty data about how ­effective adverts had been. In a submission to a European Union consultation on its forthcoming Digital Services Act, a new set of rules to ­govern the internet, the WFA said large companies that publish or carry online advertising should follow laws modelled on the “know your customer” rules that regulate banking. Illicit adverts … [Read more...] about Facebook should verify all advertisers to crack down on fraud, top brands demand

The day after the UK voted to quit the European Union (EU), Baroness Martha Lane-Fox’s reaction was like much of the rest of the tech sector’s. “I was very upset,” she says. “It made me feel… uncomfortable.” As an industry, technology overwhelmingly opposed Brexit. At the time of the vote in 2016, around 90pc of those in the sector came out against leaving the European Union. Three years later, it’s time to move on, says the lastminute.com founder. While politicians have been wrangling over clauses, exit dates and transitional arrangements, behind the scenes the technology sector has been coming to grips with life outside the EU. And now, whilst many entrepreneurs in the space may not have voted for Brexit, they are starting to recognise the opportunities the historic break presents. “It’s a chance for us to reset the regulations,” Rob Kniaz, a partner at venture capital firm Hoxton Ventures explains. A chance, he says, to find the “sensible middle ground” … [Read more...] about How UK innovation can blossom post-Brexit by stripping away EU red tape

Tech giants could face billion-dollar fines in Europe if they fail to abide by new Brussels rules geared to reduce their market dominance. The Digital Services Act, which is due to be presented by the EU's Thierry Breton and Margrethe Vestager on Tuesday, is set to lay out new rules for companies deemed "gatekeepers", a designation expected to be given to tech giants such as Google, Facebook and Amazon, and covering companies which hold a significant positions in digital markets. The EU is rumoured to be planning to impose fines of up to 10pc of companies' annual revenues if they breach the rules, which will require them to stop doing things such as ranking their own services higher on search engines or competing unfairly against those using their sites using data gleaned from other services. According to Bloomberg, which has seen a draft version of the regulation, businesses which “systemically infringe” rules could be forced to sell parts of their operations. An unconfirmed … [Read more...] about Tech giants could face billion-dollar fines from Brussels in expected rule-change

The executive order that Donald Trump signed against social media companies last week is unlikely to directly do much damage. The decree, prepared in a fit of anger after Twitter fact-checked two of the President’s tweets, seeks to remove a legal shield enjoyed by social media companies if they suppress content “in bad faith”. Although it may carry some political value, it clashes with how US courts have interpreted the law and is unlikely to stand up to any legal challenge. Most internet lawyers say it is not worth the paper it is written on. Despite this, Trump’s order, however rough, is potentially a turning point for something . The golden age for internet companies, in which they were largely unaccountable for the material that users hosted on their services, is coming to an end. The modern web – outside the US as much as in it – has been built on a 1996 law that is often misunderstood but has had immense consequences. Section 230 of the Communications Decency Act, … [Read more...] about 24-year-old law that built the internet is under threat

Nvidia’s chief executive Jensen Huang knew he had to make Britain an offering. For weeks, market chatter had been swirling that his Silicon Valley chip giant was preparing to take over Cambridge's Arm, one of Britain's top tech companies. Before a deal had even been announced, it had raised eyebrows from a group as diverse as Arm’s co-founder Hermann Hauser , Ed Miliband , and the Government itself, which said at the weekend it was prepared to scrutinise any sale. In 2016, when Arm was taken off the London Stock Exchange by Japan’s SoftBank , which bought it for £24bn, the deal came out of nowhere, arising almost too quickly to generate opposition. It was weeks after the Brexit vote and the subsequent slump in the pound, and Theresa May’s government was keen to be seen as welcoming foreign investment. Four years later the situation is different. The sort of microchip technology that Arm develops is seen as a key plank of national security policy. Donald Trump has … [Read more...] about Nvidia chief pledges to make Britain an AI leader with $40bn Arm deal

It was 2015, and high-flying Scottish banker Jane Fraser had a public relations problem. The executive had just been put in charge of Latin American operations for Citigroup, America's third-biggest bank, and was facing a sexist backlash in the Mexican press as a female foreigner. Some bosses might have tried to out-machismo the country's testosterone-charged business elite - but instead Ms Fraser decided to embrace her feminine side. "My husband took me out, he said 'We're going to buy an elegant red dress, slightly higher heels than you're used to, and a new haircut, and you're going to stride on the stage," she said later in a CNN podcast. "He knew that if I could stride out there and be quite comfortable in who I am, and confident around that and transmitting something that was, 'I am who I am,' that that would be a benefit." That self-awareness has now paid off. The 53-year-old has just been named the next chief executive of Citi , the world's largest credit-card issuer … [Read more...] about Who is Jane Fraser? The Scottish banker who has just become the first female boss of Wall Street

Bosses have lashed out at a government plan to impose fines and bans on directors for inaccuracies in their companies’ accounts, claiming it will add an unwanted burden to strained firms and deter qualified candidates from joining boards. Business Secretary Kwasi Kwarteng is preparing to publish long-awaited proposals to clean up the audit industry and improve the quality of company accounts following scandals at the likes of Carillion and Patisserie Valerie . A swathe of prominent business figures questioned whether the changes would place an unreasonable burden on directors and protect auditors from being held accountable. Sir Martin Sorrell, founder of advertising firm S4 Capital, said it did not make sense to “strangle initiative” at companies trying to survive the pandemic. Charlie Mullins, chairman and founder of Pimlico Plumbers, said: “What’s the point of having auditors to sign off accounts if they’re going to make directors do porridge or pay huge fines when … [Read more...] about Bosses hit out at plans to fine and ban directors for accounting errors

Consumers could be "manipulated" into choosing products by unregulated online shopping algorithms, the competitions watchdog said as it launched a probe into potentially misleading practices. The Competition and Markets Authority (CMA) said it is concerned that consumers could be manipulated in their shopping choices or end up paying too much for products either by “deliberate or unintended” use of algorithms. It said that these algorithms could be used to personalise services and create search results that “can be manipulated to reduce choice or artificially change consumers’ perceptions”. This could be by using “nudges” on a website, such as the placement of the “buy” button, or could even go as far as “personalised pricing”, the CMA said. The effect of algorithms can be difficult for shoppers to detect, the regulator warned, although it did say that they also bring benefits by showing consumers search results they are more likely to be interested in. Kate Brand, director … [Read more...] about Online shoppers could be ‘manipulated’ to choose different products by algorithms

Britain cannot spend its way to prosperity, the Business Secretary has warned amid a growing Tory debate over state spending in the run-up to the Budget in March. Kwasi Kwarteng, promoted to the Cabinet earlier this month, signalled that a squeeze on public spending is coming with the Government deficit, fuelled by Covid handouts, forecast to exceed £400 billion this month. Rishi Sunak, the Chancellor, is keen to rein in public spending and start setting out future tax rises in the Budget. But Tory backbenchers and several senior Government ministers are pushing for further public spending increases and believe this is the way to boost the economy in the wake of the pandemic. Speaking to The Telegraph , Mr Kwarteng insisted that a booming private sector was the way in which Britain will recover after the virus crisis. He said: "Let me be very clear – without a thriving private sector, we will not be able to afford good public services. Great public services rely on a … [Read more...] about Britain can’t spend way to prosperity after Covid, Kwasi Kwarteng warns

Furious couples and disappointed holidaymakers demanding refunds for cancelled weddings and getaways have driven a wave of complaints to the competition watchdog during the coronavirus pandemic. More than 60,000 consumers have complained to the Competition and Markets Authority (CMA) about firms treating them unfairly during the pandemic, the watchdog said. The majority of complaints since mid-April related to cancellations and refunds as customers struggle to recover cash for cancelled flights, holidays and weddings. Holidays and airlines accounted for 27,000 of the 60,000 issues reported to the watchdog between March 10 and May 17 as travel companies knocked by a liquidity crisis battled to hang on to cash - despite many having a legal obligation to hand out refunds. The CMA launched its Covid-19 taskforce in March to prevent firms from using the crisis to exploit consumers. Earlier this week it asked the Government to pass emergency laws to help it tackle … [Read more...] about 60,000 coronavirus complaints to competition watchdog