Procter & Gamble will no longer be acquiring women’s personal care brand Billie.
The planned acquisition, which was announced back in 2020, was stopped in its tracks after the United States Federal Trade Commission filed a complaint in December, according to a report in Reuters.
“We were disappointed by the FTC’s decision and maintain there was exciting potential in combining Billie with P&G to better serve more consumers around the world. However, after due consideration, we have mutually agreed that it is in both companies’ best interests not to engage in a prolonged legal challenge, but instead to terminate our agreement and refocus our resources on other business priorities,” the companies said in a joint statement.
P&G, Billie bid adieu to previously planned acquisition
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Facebook Inc (NASDAQ: FB) has been sued by an Australian consumer watchdog over collecting user data without permission, Reuters reported Tuesday.
What Happened: Australia’s Competition and Consumer Commission (ACCC) wants Facebook to pay an unspecified penalty for promoting a virtual private network (VPN) to users as a means to protect data, while it used the information to select targets for commercial acquisitions, according to Reuters.
The lawsuit comes after the United States Federal Trade Commission accused the Mark Zuckerberg-led company of using consumer data including from its WhatsApp and Instagram apps to cherry-pick takeover candidates.
ACCC Chairman Rod Sims said while there is a link to what FTC claims, the U.S. agency is focused on the competition aspect while they were “looking at the consumer.”
December 16, 2020
The United States Federal Trade Commission (FTC) has directed nine tech companies, including tech giants Facebook, Google and Amazon, to disclose how they collect, use and present personal information, along with their advertising and user engagement practices. In an order dated December 14, the FTC also asked for information on how these practices affect children and teenagers.
The companies required to provide this information are Amazon, ByteDance (which owns TikTok), Discord, Facebook, Reddit, Snap (owner of Snapchat), Twitter, WhatsApp (owned by Facebook) and YouTube (owned by Google). These companies have been given 45 days to respond to the order.
The FTC’s order comes just days after it, along with a group of 48 states, filed lawsuits against Facebook, accusing it of maintaining a monopoly in the personal social media market. Both lawsuits charged Facebook of excessive collection of user data. The FTC had proposed hiving off WhatsApp and Instagram as se
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The US Federal Trade Commission yesterday ordered Amazon, Facebook, Twitter, YouTube and other internet giants to submit troves of information about their data collection, ad practices and user engagement. – AFP pic, December 15, 2020.
THE United States Federal Trade Commission yesterday sent orders to Amazon, Facebook, Twitter, YouTube and other internet giants demanding troves of information about their data collection, ad practices and user engagement.
The orders endorsed by four of the five FTC commissions were sent under the authority of a federal act that lets the agency conduct studies for legislators to have on hand when crafting relevant laws.
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