Leading privacy watchdog groups lashed out at the US Federal Trade Commission (FTC) for siding with the advertising industry as part of a government initiative to update consumer-data protections.
The organizations — which include the Consumer Federation of America and the Electronic Frontier Foundation — on Monday told FTC Chairman Joe Simons in a letter that the agency relied on a “self-serving study” by the ad industry to warn against a policy in which consumers are opted out of online advertising by default.
“Instead of squarely defending the privacy rights of consumers it really capitulates to a pro-industry position using industry research,” said Jeff Chester, executive director of the Center for Digital Democracy, which joined the letter. “It removes what little credibility the FTC under Chairman Simons has.”
Photo: AFP
The FTC should be replaced as the agency responsible for protecting consumer privacy, Chester said.
“They’re incapable of standing up for the public and taking on these powerful interests,” he said. “We need a real watchdog, not a lapdog.”
Simons has vowed to make privacy and data security an enforcement priority and has called for legislation that would expand the agency’s authority.
Simons is leading the commission as it investigates Facebook Inc for possibly violating a privacy order imposed in 2011.
The FTC did not respond to a request for comment about the privacy groups’ criticism.
Early this month, the FTC submitted a comment to an arm of the US Department of Commerce as part of an initiative by US President Donald Trump’s administration to gather public input on ways to protect consumer privacy and data online.
The agency said giving consumers control over collection and use of their data online could be beneficial, but could also be costly to implement and might have “unintended consequences.”
“For example, if consumers were opted out of online advertisements by default [with the choice of opting in], the likely result would include the loss of advertising-funded online content,” the FTC said.
That comment drew the ire of the privacy watchdog groups because, they say, the FTC based it on a survey commissioned by the Digital Advertising Alliance, which is made up of advertising associations.
Participating companies include some of the world’s biggest companies, such as Amazon.com Inc, Alphabet Inc’s Google, General Motors Co and Walmart Inc.
“As federal privacy legislation is contemplated, the FTC should be a strong voice for advancing Americans’ privacy interests in a meaningful way, not parroting the advertising industry’s talking points,” said Susan Grant, director of consumer protection and privacy at the Consumer Federation of America.
A spokesman for the Digital Advertising Alliance declined to immediately comment.
MANAGING RISKS: Taiwan has secured LNG sufficient to cover 95 percent of electricity demand for next month, UBS said, describing the government’s approach as proactive UBS Group AG has raised its forecast for Taiwan’s economic growth this year to 8 percent, up from 6.9 percent previously, and said expansion could reach as high as 8.6 percent if external energy shocks are avoided. The upgrade reflects a stronger-than-expected first-quarter performance and sustained momentum in artificial intelligence (AI)-driven exports, which UBS said are providing a firm foundation for growth despite geopolitical and energy risks. Taiwan’s GDP expanded 13.69 percent year-on-year in the first quarter, the fastest growth since the second quarter of 1987, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on Thursday. On a seasonally
Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights. The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines are not waiting for a lack of supplies to react. “Travel alert: Airlines are cutting thousands of flights right now,” Travel Therapy host Karen Schaler said in an Instagram reel this past weekend.
Shares of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) have repeatedly hit new highs, but an equity analyst said the stock’s valuation remains within a reasonable range and any pullback would likely be technical. The contract chipmaker’s historical price-to-earnings (P/E) ratio has ranged between 20 and 30, Cathay Futures Consultant Co (國泰證期) analyst Tsai Ming-han (蔡明翰) told Central News Agency. With market consensus projecting that TSMC would post earnings per share of about NT$100 (US$3.17) this year, supported by strong global demand for artificial intelligence (AI) applications, and the stock currently trading at a P/E ratio of below 25, Tsai said the valuation
The list of Asian stocks that benefit from business partnership with Nvidia Corp is getting longer, as the region further integrates into the artificial intelligence (AI) chip giant’s business ecosystem. Just in the past week, South Korea’s LG Electronics Inc, Taiwan’s Nanya Technology Corp (南亞科技), as well as China’s Huizhou Desay SV Automotive Co (德賽西威) and Pateo Connect Technology Shanghai Corp (博泰車聯) have become the latest to rally on news of tie-ups, supply-chain participation or product collaboration with the US chip designer. Asian suppliers account for about 90 percent of Nvidia’s production costs, up from about 65 percent last year, data compiled