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Google fined $60 million for misleading Australians about location data collection

Google has agreed to pay a $60 million fine to an Australian competition watchdog over a longrunning lawsuit alleging it misled users into collecting

Google has agreed to pay a $60 million fine to an Australian competition watchdog over a longrunning lawsuit alleging it misled users into collecting personal location data. Last April, a federal court ruled that Google violated consumer protection law by misleading some local users that it did not collect personal location information through mobile devices running the Android operating system. If the users location history was set to off, it was clear that Google was still collecting and accessing location data when Internet and app activity was on and one of the apps was in use. The company was also found to have violated two other consumer laws related to misleading claims and misleading claims about the performance characteristics of the service. Read More..

B2B Tech News | 2 years ago        

The companys ecommerce operation expanded in Q2 as Jumias shares increased

African ecommerce giant Jumia announced its secondquarter earnings today. The companys performance indicators showed doubledigit yearoveryear growth i

African ecommerce giant Jumia announced its secondquarter earnings today. The companys performance indicators showed doubledigit yearoveryear growth in active users, orders, GMV, and revenue. Its shares climbed more than 15% in early trading after the results were released. Jumias adjusted EBITDA losses grew last quarter compared to the yearago period up 37.4% and Q1 2022. In the first half of the year, this figure was $112.5 million. The company plans to cut spending and reduce its adjusted EBTDA loss to between $87 million and $107 million in the second half of 2022. If achieved, Jumia will be able to meet its expectation of losing not more than $220 million this year. Jumias marketplace KPIs detailed some upbeat news for the company. In terms of category trends, everyday categories accounted for 66% of the companys GMV compared to 34% for phones and electronics Read More..

B2B Tech News | 2 years ago        

Latin America now receives GSBNs Cargo Release

COSCO SHIPPING Lines, OOCL, and global port operator Hutchison Ports are among the companies involved in the rollout of Cargo Release. Due to their pr

COSCO SHIPPING Lines, OOCL, and global port operator Hutchison Ports are among the companies involved in the rollout of Cargo Release. Due to their proximity to North and Latin American markets, Mexico and Panama are strategically important ports for global trade.GSBN is an independent, nonprofit technology consortium developing a blockchainenabled operating system designed to redefine global business. We are pleased to see Commodity Release spread its wings around the world after its initial success in China a year ago, said Zhang Xi, general manager of COSCO Shipping Lines Latin America/Africa business. the first hour. Read More..

B2B Tech News | 2 years ago        

Magnis Energy Technologies begins commercial production at its lithiumion battery plant in New York

Magnis Energy Technologies Limited ASX MNS, OTCQX MNSEF has entered commercial production at its New York iM3NY lithiumion battery plant in Endicott,

Magnis Energy Technologies Limited ASX MNS, OTCQX MNSEF has entered commercial production at its New York iM3NY lithiumion battery plant in Endicott, New York. The company is currently expanding its production capacity to meet the enormous demand for lithiumion batteries in North America. Measuring an annual production rate of 1.8 GWh of battery cells, production is expected to increase to 15,000 cells per day by next month. iM3NY, North Americas only green lithiumion battery factory, has begun commercial production. Before sale, Magnis Energy will test the first weeks of manufacture to ensure quality, with first revenues expected at the end of September. By 2030, the company plans to increase the annual capacity of the power plant to 38 GWh. Read More..

B2B Tech News | 2 years ago        

Google opposes Facebookbacked proposal to set up selfregulatory organization in India

The proposal is supported by Facebook and Twitter, but Google has serious reservations about creating a selfregulatory body to allow Indias social med

The proposal is supported by Facebook and Twitter, but Google has serious reservations about creating a selfregulatory body to allow Indias social media industry to hear user complaints, a source familiar with the discussion told Reuters. India said in June it proposed appointing a government committee to hear user complaints about content arbitration decisions, but said it was open to the idea of ​​selfregulatory bodies if the industry was willing to do so. Twitter faced backlash after it blocked the accounts of politicians and other influential Indians for policy violations.Twitter also severed ties with the Indian government last year after it refused to fully comply with an order to delete accounts it suspected of spreading misinformation. Western tech giants have been feuding with the Indian government for years, arguing that tighter regulations will hurt their businesses and investment plans. Read More..

B2B Tech News | 2 years ago        

Kenyan B2B ecommerce platform Marketforce is cutting around 9% of its staff as part of a restructuring strategy

A Kenyan B2B retail and endtoend distribution platform has laid off some of its workforce. The layoffs are part of a restructuring strategy in one of

A Kenyan B2B retail and endtoend distribution platform has laid off some of its workforce. The layoffs are part of a restructuring strategy in one of Kenyas five markets. CEO Tesh Mbaabu confirmed the news on a call with TechCrunch, adding that the company let go of 54 people. Marketforce had more than 600 employees before the event so about 9% of its overall workforce was affected. CEO Julius Mbaabu said some roles will be made redundant and new ones will emerge, but the rest of the markets will not be affected. RejaReja is an assetlight merchant super app and marketplace that informal traders can use to source goods directly from manufacturers and distributors and make an order digitally. Read More..

B2B Tech News | 2 years ago        

European shares were mixed after Asian markets fell on a technical decline

European share markets were mixed on Tuesday after gains in most Asian markets despite weakness in technology shares, including Japans SoftBank. Fight

European share markets were mixed on Tuesday after gains in most Asian markets despite weakness in technology shares, including Japans SoftBank. Fighting in Ukraine and attacks on Europes biggest nuclear plant are other factors hanging over markets. Analysts monitoring Asian markets said regional tensions remain a risk because of the flareup between China and Taiwan. Any major developments on the China/Taiwan front could impact overall risk demand. China confirmed it would extend military drills around Taiwan, and the military will conduct regular exercises on the eastern side of the Taiwan Strait. Also of concern are the rising cases of COVID19 in China, Japan, and some other Asian nations, and their potential impact on supply chains. Read More..

B2B Tech News | 2 years ago        

NG.CASH raises $10 million to empower financially independent youth in Brazil

Brazilian fintech firm NG.CASH has announced that it has raised a $10 million seed round led by Andreessen Horowitz a16z and Monashes. Other participa

Brazilian fintech firm NG.CASH has announced that it has raised a $10 million seed round led by Andreessen Horowitz a16z and Monashes. Other participants in the round include 17Sigma and Ualá, Rappi, Mobile, and Brex. The founders entered. Fintech offers a digital wallet app for instant payments, mobile topups, money transfers, and discount shopping. A prepaid card works like a credit card for online purchases. Today, the startups sources of income are card interchange fees, and ticket and product fees. It already has 900,000 users, and its target audience is Brazilians between the ages of 10 and 24. The startups CEO, Mario Augusto Sá, launched Neagle, a popular YouTube channel among young Brazilians, Ten years ago. Therefore, NG.CASHs customer acquisition costs are low because Sá can already reach a large number of young people. According to Sá, this audience is asking for an NFT product and NG.CASH plans to market this product as a longterm stablecoin. This is because many young Read More..

B2B Tech News | 2 years ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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