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Instagram, YouTube, TikTok Twitter Target of EU Crypto Advertising Complaint

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Meta Platforms’ Instagram, Alphabet (NASDAQ: GOOGL)’s YouTube, TikTok, and Twitter could face regulatory action after European consumer group BEUC complained to the European Commission and consumer authorities that the online platforms allegedly facilitate the misleading promotion of crypto assets. U.S. regulators suing crypto platforms Coinable (NASDAQ: COIN) and Bianca, along with last year’s collapse of FTX, have sparked concerns over consumer protection related to crypto assets such as bitcoin and ether. The European Union last month adopted the world’s first comprehensive set of rules for crypto asset regulation (Mica). BEUC in its complaint filed on Thursday said the proliferation of misleading advertisements of crypto assets on social media platforms is an unfair commercial practice as it exposes consumers to serious harm such as the loss of significant amounts of money. It said this was happening through advertising and influencers. It urged the Consumer Protection Cooperation Network to require online platforms to adopt stricter advertising policies on crypto and take measures to prevent influencers from misleading consumers. The Network should subsequently inform the European Commission about the effectiveness of these measures, BEUC said in its joint complaint with nine of its members. The group called on European consumer authorities to cooperate with European Supervisory Authorities for financial services to ensure the platforms adapt their advertising policies to prevent the misleading promotion of crypto “Crypto will be regulated soon with the new Market in Crypto Assets Regulation but this legislation does not apply to the social media companies benefiting from the advertising of crypto at the expense of consumers,” BEUC Director General Monique Goyens said in a statement. “This is why we are turning to the authorities in charge of protecting consumers to ensure Instagram, YouTube, TikTok and Twitter fulfil their duty to protect consumers against crypto scams and false promises,” she said. Consumer groups in Denmark, France, Greece, Italy, Lithuania, Portugal, Slovakia and Spain also signed up to the complaint.

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The Success Story Behind Google’s

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Google Success Story:

“You always hear the phrase, money doesn’t buy you happiness. But I always in the back of my mind figured a lot of money will buy you a little bit of happiness. But it’s not really true.”

Google is a multinational corporation based in America that offers services relating to the Internet. Online advertising, cloud computing, search, and software services are some of Google’s main offerings. Two Stanford University Ph.D. candidates named Larry Page and Sergey Brin created Google in 1996. Its main office is located in California’s Mountain View. Within four years after its 1997 start, Google has become a global search engine.

In its early years, thousands of individuals and businesses used the Google search engine to obtain information. Today, millions of people utilize it. This is a significant success for the search engine.

Google – an Innovative Way of Advertising

Google introduced Adwords, an effective ad network, in the early 2000s. It enables marketers to place online advertisements next to organic search results. In addition, Google offers an easy-to-use mapping tool, Gmail for file and message sending, the video and image sharing website Google Plus, and the Android mobile operating system. Most people refer to the Google search engine as Google or Google Web Search. Currently, Google stands as the largest and most widely used web search engine globally.

User-friendly Services

The majority of Google’s services are provided without charge, thus users or clients don’t have to pay for them. Google makes the most money through their AdWords Services. Selling various business services and the enterprise versions of their well-known products, which many businesses use as alternatives to Microsoft Office tools, provide them with additional significant revenue. When a user searches for information, the Google Search algorithm communicates with web servers to retrieve information from its databases, including data and images, and then displays the results.

Google Services

Google offers a variety of goods and services, including Google Translate, which allows users to search for words, synonyms, weather, and time zones. It also offers maps that include lists of movie theaters, airports, trains, hospitals, study centers, and sports facilities.

With its search strategy, Google created a novel technique known as PageRank, which calculates a website’s page rank based on the total number of high-quality links it has. Search engine optimization refers to the process of getting a website to appear on Google’s first page. The purpose of this technology is to increase website traffic.

The most crucial tool for examining the structure of websites among other things is the Google Webmaster Tool. By examining the website, Google offers a free service that assists website owners in getting their site to appear on the first page of search results.

Mobile Apps Makes Life Easier

Google Search is a useful tool for mobile users to find apps. Google offers a variety of mobile applications for iOS, Android, Windows Phone, and Blackberry devices, among them Gmail. Google is currently working on the Android mobile operating system. Google created Google Now, an intelligent personal assistant. Users of iOS and Android smartphones can access it. It answers user inquiries and carries out actions by forwarding requests to a collection of online services using a natural language user interface.

In terms of revenue, Google is currently among the biggest global companies in the world. Gmail, Blogger, Google+, Books, Buzz, Google Code, Google App Engine, Google Maps, and Google Sets are a few of the most well-known Google services that are beneficial to users.

In conclusion, Google’s journey from a small search engine to a global tech giant is remarkable. Offering user-friendly services like Google Translate and Maps for free has made it essential in our lives. Its innovative search strategy and tools like Google Webmaster empower businesses and users alike. In mobile, apps like Gmail and Google Now simplify tasks. Google’s commitment to innovation and user satisfaction cements its position as a leading global company.

 

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China’s JD.com To Open Grocery Stores By Merging 7Fresh, Other Units

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Chinese e-commerce giant JD (NASDAQ: JD).com plans to open retail grocery stores through the merger of its 7Fresh supermarket unit with other business lines such as its group-buying arm Pippin, a company spokesperson said on Monday. Beyond opening actual stores, the new division will explore innovative retail models, the spokesperson told Reuters, confirming reports in local media. Yan Xiaoping, who was previously responsible for the online e-commerce platform’s international division, will take charge of the business and report to Xu Ran, CEO of JD.com, the spokesperson added. This latest development comes after JD.com laid out an ambitious 20-year blueprint earlier this month to build seven enterprises that will be valued at more than 100 billion yuan ($13.83 billion) each.
The company faces an increasingly competitive landscape, with Chinese consumers able to choose from a growing range of platforms including JD’s main rival Alibaba (NYSE: BABA) Group, PDD Holdings’ Pinduoduo (NASDAQ: PDD) and Byte Dance’s Doujin, the Chinese equivalent of Tikor. JD.com created 7Fresh in 2017 after Alibaba introduced Freshippo, a premium physical grocery store. Alibaba said last month that it plans to kick off an IPO process for Freshippo soon as part of the company’s restructuring. In 2017, JD spun off its logistics unit into a standalone unit. It also plans to spin off its property and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion each, Reuters reported in March.

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Explainer-What is Hong Kong’s New Dual HKD/RMB Share Counter?

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The Hong Kong stock exchange will start offering yuan-denominated Chinese stocks from Monday in what it calls a dual counter, a scheme that is seen as part of China’s efforts to increase the yuan’s use overseas. The exchange will initially target the offerings at investors holding offshore yuan. Ultimately, the Hong Kong Exchanges & Clearing (HKEX) aims to enable mainland investors to trade yuan stocks listed in Hong Kong using their onshore yuan. Here’s a look at how the yuan-denominated stock trading works, and the CNH’s role. HOW DOES THE DUAL STOCKS COUNTER WORK? The HKEX’s Dual Counter Model allows investors in Hong Kong to trade stocks concurrently in both Hong Kong dollar and the yuan. A total of 24 companies will start offering yuan counters at the scheme’s launch. The HKEX has said all shares of the same securities in the two trading counters will be fully interchangeable between counters. They will be designated as the HKD-RMB Dual Counter Securities. The yuan counter will be listed separately under a different, 5-digit stock code that begins with “8”; while the Hong Kong dollar counter will follow a 5-digit number starting with a “0” The HKEX is also rolling out a market-maker program so that any price differences between the two counters because of the yuan’s moves can be reduced. IS IT THE FIRST TIME THAT YUAN-DENOMINATED STOCKS WILL BE TRADED ON THE HKEX? No. There was a dual-currency trading precedent, when Hopewell Highway Infrastructure offered such an option of yuan shares in 2012 to investors, long after its Hong Kong shares first debuted in 2003. But the yuan counter failed to gain traction due to the significant price gap between the two trading counters. WHICH INVESTORS WILL TRADE ON THE DUAL COUNTER? The first batch of investors could be holders of offshore yuan deposits in Hong Kong, which totaled 833 billion yuan ($117 billion) at the end of April, as they look for potentially higher returns in the stock market. Yuan holders in China’s trading partner countries, such as Russia, Pakistan and the Middle East, could also be potential investors. The HKEX is working with Chinese regulators to allow mainland investors to eventually participate via the Stock Connect investment channel that connects the Hong Kong, Shanghai, and Shenzhen stock exchanges. Mainland investors currently trading Hong Kong stocks through the southbound leg of the Stock Connect face an exchange rate risk, to hedge which they have to pay a 2% margin to their brokers when they submit their trade orders. Also, investors are told the exact yuan amount they have to pay or receive only at the end of each trade day. The yuan counter will mean investors will be paying the yuan price for stocks quoted in real time during trading hours. TELL ME MORE ABOUT THE OFFSHORE YUAN, OR CNH
CNH stands for offshore yuan, launched in 2003 as an experiment in creating a distinct, offshore market for yuan.
The onshore yuan is only partially convertible as China’s capital account remains largely closed. Schemes such as the Stock Connect and CNH are part of China’s efforts to gradually open up its capital market to foreigners.
The onshore yuan is largely fungible with CNH and, under normal market conditions, their exchange rates tend to move together. The onshore yuan is more managed by authorities, with the spot rate allowed to trade within a 2% range around the official daily fixing set by China’s central bank. The CNH is driven mainly by demand and supply.

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