Twitter fights with misinformation
The Twitter social network has been facing years of accusations of helping to spread disinformation. The company is making better progress and will finally allow it to report misleading tweets. Twitter users in some countries, including the U.S., will soon be able to report tweets to the social media platform about misinformation. Testing of the new feature was available to small groups of users in the United States, South Korea, and Australia. It will be possible to report using the formula “it is misleading” and it will now be displayed as an option, where everyone will be able to report a misinformation tweet.
Tough regulations in China
More regulations for virtual giants are coming in China. The State Administration for Market Regulation is issuing new draft rules to stop unfair competition on the Internet. SAMR will introduce a range of bans, including how companies can use personal information, want to prevent the elimination of bad product reviews, and much more. China’s Ministry of Industry and Information Technology wants to regulate online companies, especially practices that “disrupt market order, harm consumer rights or compromise data security.” Beijing has already fined Alibaba, and that is far from over.
Alibaba’s performance over 5 years. (Source: Investing.com)
Google is fined by Russia
A court in Moscow imposed five fines on the Internet company worth a total of 14 million rubles. Russia, like other countries, is beginning to impose regulations on online giants. In this case, the reason was the publication of prohibited content on web platforms. The country is also trying to force the company to open branches directly in Russia and is imposing fines on the platform for not removing illegal content according to them. Google is not very popular because it has blocked some YouTube accounts which contain Kremlin patriotic propaganda.
OPEC + reportedly rejects the US call
China provided new data and oil prices fell. The data point to potential damage to demand due to the spread of the delta coronavirus variant. Oil has stalled above previous lows after Reuters reported that OPEC +, despite US pressure, did not see the need to release more oil in the coming months than planned. Last week, the Biden administration called on OPEC to increase production to ease rising gasoline prices. Too high prices can be a problem for the recovery of the global economy.
Watch this week:
On Thursday, will be published Initial Jobless Claims in U.S, that measures the number of individuals who filed for unemployment insurance for the first time during the past week.
On Friday, will be released in the U.K. Core Retail Sales which counts the change in the total value of inflation-adjusted sales at the retail level.