See Dave Burge….
Antitrust challenge to Facebook’s ‘superprofiling’ finally wraps in Germany — with Meta agreeing to data limits
https://techcrunch.com/2024/10/10/antitrust-challenge-to-facebooks-superprofiling-finally-wraps-in-germany-with-meta-agreeing-to-data-limits/
Jason Kint @jason_kint
Wow Facebook settled landmark German antitrust decision. TechCrunch: “…one — hopefully lasting — legacy for the FCO case is that it has helped change the conversation around competition and privacy by underscoring how an abuse of privacy can be horrible for competition, too.” /1
That last quote was from @riptari and I strongly agree. We’ve long flagged this 2019 decision to inspire EU and US FTC to investigate Facebook’s surveillance capitalism business through its data abuse from its market power and to look at remedies that silo this data. /2
e is the full report from Lomas at TechCrunch. This landmark decision has been written about in a number of major pubs over the years including NYT so maybe Facebook’s small win is no one is paying attention right now in the States. /3
https://twitter.com/jason_kint/status/1846146626173210884
zerohedge @zerohedge
Top Overnight News
China is starting to enforce a tax on overseas investment gains by the country’s wealthiest citizens, an initiative aimed at both driving gov’t revenue (to help pay for fiscal stimulus) and pursuing Xi’s “common prosperity” initiative. BBG
Xi isn’t looking to massively stimulate demand or ease his iron grip on the country’s economy but instead stave off a financial crisis by providing support to overindebted local governments and bolster the stock market (his shift on policy was more tactical than strategic). WSJ
Chinese banks are set to trim rates on 300 trillion yuan ($42.3 trillion) of deposits as soon as this week after the latest barrage of stimulus policies further squeeze their profitability. BBG
The International Energy Agency trimmed its forecast for this year’s oil-demand growth for the third month in a row, as a rapid slowdown in Chinese consumption weighs on the global outlook. WSJ
Global sovereign debt will hit $100T by the end of 2024, or ~93% of aggregate GDP, with the figure headed to 100% by 2030 as it warned governments will be forced to make difficult fiscal decisions. BBG
Israel has told Washington it will hit Iranian military targets, not oil or nuclear infrastructure, as Netanyahu looks to retaliate without escalating the situation. WaPo
The Swiss financial regulator has ordered UBS to bolster its emergency and recovery plans in light of the added risk it has taken on following its takeover of Credit Suisse last year. FT
Biden administration officials have discussed capping sales of advanced AI chips from Nvidia Corp. and other American companies on a country-specific basis, people familiar with the matter said, a move that would limit some nations’ artificial intelligence capabilities. BBG
Home builders are still offering mortgage rate buydowns to attract buyers, despite falling mortgage rates. The cost of buydowns is eating into home-builder profits, and they might need to turn to other strategies such as price reductions. Home-builder share prices have been rising, but the outlook is more challenging if more previously owned homes come on the market. WSJ
https://twitter.com/zerohedge/status/1846160365429661810
She forgot to marry him before following odas to start large conspiracy..
It'sNOT just Universal, but NBC/Universal.
Christopher F. Rufo ⚔️
@realchrisrufo
BREAKING: Kamala Harris's publisher, Chronicle Books, is in damage control mode. The company accidentally sent my team an internal communication indicating that VP Lauren Hoffman is requiring that all inquiries about Harris's plagiarism go through the higher ups.
https://twitter.com/realchrisrufo/status/1845960097287360657
Chronicle Books owned by Nion McEvoy, great-grandson of SF Chronicle founder. Bought during bust up of SF Chronicle assets in '99, undoubtedly for estate purposes.
Sure AP. Sure….
Exclusive-Israel's demining near Golan signals wider front against Hezbollah, sources say
Oct 15th, 08:29:02
By Suleiman Al-Khalidi and Maya Gebeily
AMMAN/BEIRUT (Reuters) - In a sign Israel may expand its ground operations against Hezbollah while bolstering its own defences, its troops have cleared landmines and established new barriers on the frontier between the Israeli-occupied Golan Heights and a demilitarised strip bordering Syria, security sources and analysts said.
The move suggests Israel may seek to strike Hezbollah for the first time from further east along Lebanon's border, at the same time creating a secure area from which it can freely reconnoitre the armed group and prevent infiltration, the sources said.
While demining activity has been reported, sources who spoke to Reuters - including a Syrian soldier stationed in south Syria, a Lebanese security official and a U.N. peacekeeping official - revealed additional unreported details that showed Israel was moving the fence separating the DMZ towards the Syrian side and digging more fortifications in the area.
https://app.piqsuite.com/reuters/exclusive-israels-demining-near-golan-signals-wider-front-against-hezbollah-sources-say-2024-10-15-13-28-53