TikTok’s owner ByteDance agrees to settle $92M class-action lawsuit

According to a document filed in the U.S. District Court in Illinois, China’s ByteDance has agreed to settle a $92 million class-action lawsuit from U.S. TikTok users who had alleged data privacy concerns. ByteDance, TikToko’s owner, has agreed to the settlement after more than a year of litigation. “While we disagree with the assertions, rather…

Tesla to suspend production at California & NY factory to curb spread of Wuhan coronavirus

In a statement Tesla Inc said, starting from March 24 it will suspend production at its California vehicle factory so as to comply with local orders aimed at curbing the spread of coronavirus. Tesla’s New York factory will also temporarily suspend production, while operations at its Nevada plant will continue. “Despite taking all known health…

Facebook, Google has up to Nov. 2020 to comply to Australian competition rules

On Thursday, Australia made it lucidly clear to technology giants Facebook Inc and Google Inc that will have to agree and comply to Australia’s new rules, designed to ensure that they do not abuse their market power and damage competition, failing which the government will impose new controls on them. In a statement, Australian Prime…

European Union launches measures to protect its business interests in Iran

The measures proposed by the European Commission includes, blocking laws that ban EU firms to comply with U.S. sanctions law, not recognizing court ruling that enforce American penalties, start the legal process of working with Iran’s central bank and allowing EU banks to fund the projects of EU companies in Iran. On Friday, the European…