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Facebook parent company Meta was hit with a record $1.3 billion fine on Monday by the European Union, which demanded the social media giant stop transferring user data to the United States. 

The European Data Protection Board (EDPB) found that Meta had made a “very serious” infringement concerning transfers “that are systematic, repetitive and continuous,” EDPB Chair Andrea Jelinek said in a statement  announcing the fine. 

“Facebook has millions of users in Europe, so the volume of personal data transferred is massive. The unprecedented fine is a strong signal to organisations that serious infringements have far-reaching consequences,” Jelinek said.  As Ukraine aid dries up, next package remains on back burner Greece’s conservatives win big in election

The $1.2 billion euro fine, issued by the Irish Data Protection Authority to Meta Platform Ireland Unlimited after an inquiry into Facebook, is the largest General Data Protection Regulation fine ever, according to the EDPB. 

“This decision is flawed, unjustified and sets a dangerous precedent for the countless other companies transferring data between the EU and U.S.,” Nick Clegg, Meta’s president of global and affairs, and Chief Legal Officer Jennifer Newstead said in a statement.

Meta said there is no immediate disruption to its services in Europe and said it plans to appeal the ruling and fine.

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Sports

D-backs activate OF Carroll from injured list

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D-backs activate OF Carroll from injured list

PHOENIX — – The Arizona Diamondbacks activated outfielder Corbin Carroll from the 10-day injured list before Saturday’s game against the Kansas City Royals.

Carroll, sidelined since June 18 with a chip fracture in his left wrist, returned to his customary leadoff spot and was starting in right field against the Royals. He was injured when he was hit by a pitch thrown by Toronto’s Justin Bruhl.

Carroll said before Saturday’s game that his wrist felt better the last couple of days and he played in a minor league game on Friday in the Arizona Complex League to test it out.

The 2023 National League Rookie of the Year has 20 home runs, a major league leading nine triples and a .255 batting average this season. To make room for Carroll on the roster, the Diamondbacks optioned utilityman Tim Tawa to Triple-A Reno.

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Politics

Crypto’s path to legitimacy runs through the CARF regulation

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Crypto’s path to legitimacy runs through the CARF regulation

Crypto’s path to legitimacy runs through the CARF regulation

The CARF regulation, which brings crypto under global tax reporting standards akin to traditional finance, marks a crucial turning point.

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Politics

Tokenized equity still in regulatory grey zone — Attorneys

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Tokenized equity still in regulatory grey zone — Attorneys

Tokenized equity still in regulatory grey zone — Attorneys

The nascent real-world tokenized assets track prices but do not provide investors the same legal rights as holding the underlying instruments.

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