November 14, 2022

OeKB CSD et Montran fournissent une plateforme d’émetteur CSD aux clients de OeKB CSD

OeKB fournira une véritable numérisation de bout en bout à ses segments de clientèle en Autriche via les solutions de nouvelle génération de Montran

VIENNE, 14 novembre 2022 /PRNewswire/ — OeKB CSD, le dépositaire central autrichien de titres, et Montran, l’un des principaux fournisseurs de logiciels pour le marché des capitaux, ont annoncé aujourd’hui la mise en œuvre réussie de la plateforme d’émetteur CSD de OeKB : une plateforme de gestion numérique des titres basée sur la solution de dépositaire central de titres (CSD) de Montran. Les deux sociétés ont célébré ce lancement réussi avec un événement de mise en service à Vienne.

Il s’agit d’une étape majeure dans la numérisation de l’infrastructure de conservation sur le marché autrichien des capitaux, rendue possible par la récente modification du règlement national sur les dépôts. Cette nouvelle plateforme permet l’émission numérique de titres et gère l’ensemble du cycle de vie des titres dans un système unique. Elle prend en charge l’intégration complète avec les systèmes des clients pour créer un processus transparent et sans papier. Les clients peuvent désormais bénéficier d’une numérisation de bout en bout avec un niveau accru de flexibilité, de rapidité et de commodité. OeKB CSD et Montran sont toutes deux convaincues que cela permettra une nouvelle dynamique pour le marché autrichien des capitaux et constituera une base solide pour la poursuite de la numérisation et de la croissance.

« Ce projet a été véritablement transformationnel, non seulement du point de vue technologique, car nous avons rationalisé considérablement et remplacé le dernier élément de « legacy » (héritage) de notre architecture informatique, mais il a également impliqué un grand changement organisationnel », a expliqué Laura Hauser, la directrice technique d’OeKB CSD. « Ce fut un excellent travail d’équipe et un effort exceptionnel pendant une période difficile. Nous sommes très reconnaissants à notre équipe, à notre partenaire de solution logicielle, Montran, dont l’équipe s’est avérée fiable avec une expertise exceptionnelle dans notre domaine, en tenant toutes ses promesses ».

Raegan Esca, le directeur général de Montran Europe, a déclaré : « La polyvalence de notre solution CSD nous a permis de fournir une plateforme d’émetteur robuste et efficace pour OeKB CSD. Nos fonctionnalités CSD ont permis la mise en œuvre d’une application moderne pour OeKB CSD afin d’offrir à ses clients une intégration de bout en bout pour la gestion du cycle de vie des titres. Les avantages de cette nouvelle plateforme seront visibles pour toutes les principales parties prenantes, y compris les émetteurs, les fournisseurs de services, les banques et les investisseurs. Nous sommes convaincus que cela deviendra une pierre angulaire pour stimuler l’innovation et la croissance sur le marché autrichien des capitaux. Nous sommes ravis de lancer la plateforme des émetteurs avec notre partenaire stratégique, OeKB CSD. Ensemble, nous sommes impatients de fournir les solutions d’avenir dont OeKB CSD et ses clients ont besoin. »

À propos du groupe OeKB

Les entreprises du groupe OeKB, avec leurs plus de 500 employés, fournissent des services essentiels et pertinents pour l’industrie d’exportation autrichienne, le marché des capitaux et l’industrie du tourisme, offrent des services pour le marché de l’énergie et font partie du financement du développement autrichien. Toutes ces activités ont un avantage économique évident, renforcent l’Autriche en tant que site économique et soutiennent l’économie autrichienne dans la concurrence mondiale. OeKB agit de manière neutre sur le plan concurrentiel, intersectorielle et durablement responsable.

À propos d’OeKB CSD

OeKB CSD Ltd., une filiale à 100 % d’OeKB AG, est le dépositaire central autrichien de titres, un fournisseur d’infrastructures critiques du marché des capitaux jouant un rôle central sur le marché des capitaux autrichien. OeKB CSD accepte des titres d’émetteurs qui lèvent des capitaux pour la garde et l’administration au nom des investisseurs, fournit des services de règlement de titres et traite l’ensemble des opérations sur titres pour les actifs détenus en dépôt.

À propos de Montran

Fondée en 1979, Montran est le principal fournisseur de solutions et de services d’infrastructure de paiement et de marché des capitaux pour de nombreuses institutions financières parmi les plus importantes au monde, leur permettant de garder une longueur d’avance dans le paysage de plus en plus difficile de l’industrie financière d’aujourd’hui. Ayant des installations et des opérations critiques dans plus de 80 pays, Montran est un leader mondial dans le domaine des technologies financières. Pour plus d’informations sur les produits et services de Montran, rendez-vous sur www.montran.com.

Logo – https://mma.prnewswire.com/media/1944450/OeKB_CSD.jpg

Logo – https://mma.prnewswire.com/media/1945237/Montran.jpg

November 14, 2022

Government of St Kitts and Nevis does NOT accept cryptocurrency as a form of payment for its Citizenship by Investment programme

Basseterre, Nov. 14, 2022 (GLOBE NEWSWIRE) — The government of St Kitts and Nevis, along with the Citizenship by Investment Unit of the country, have refuted claims that investors interested in gaining citizenship to the country can pay using cryptocurrencies such as Bitcoin.

The St Kitts and Nevis citizenship by investment programme is the oldest in the world, having been established in 1984 – it has been providing investors from across the globe with one of the quickest, easiest, and most affordable routes to second citizenship.

Underpinned by a robust multi-layered due diligence process undertaken by international security firms from the USA and the UK, investors need to go through a formal application process consisting of eight main steps, which include:

Step 1: Pre-approval by a verified St Kitts and Nevis government agent and preparation of the application
Step 2: Submission of the citizenship application
Step 3: Application processing by the Citizenship by Investment Unit and internal and external due diligence checks
Step 4: Approval in principle letter issued
Step 5: Contribution to either the Sustainable Growth Fund or pre-approved real estate
Step 6: Bank clearance of source of funds
Step 7: Certificate of Registration issued
Step 8: Citizen can apply for a St Kitts and Nevis passport

Throughout the whole process, an investor will engage with an approved government agent who will facilitate the application and any payments will be made via registered banks using fiat money – a government-issued currency that is not backed by a commodity such as gold. An example would be the United States Dollar, Euro or Chinese Yuan.

Investors cannot make payments to a government-approved agent or the Citizenship by Investment Unit by using cryptocurrencies directly. These would need to be liquidated into fiat currency first and an applicant would need to provide a supporting affidavit regarding their source of funds as part of the application process.

St Kitts and Nevis has not yet passed any legislation regarding cryptocurrency. The country is participating in the Eastern Caribbean Central Bank (ECCB) pilot program, which aims to study the utilisation of cryptocurrency as a fiat currency.

The program’s purpose is to provide a safe and secure digital financial system by utilising the advantages of blockchain and is designed to exemplify the viability and functionality of the ECCB’s ability to issue Digital Eastern Caribbean Dollars.

The ECCB is the fiscal authority for the Eastern Caribbean Currency Union (ECCU).

Speaking at the Electronic Cash Conference 2022, which was held on November 12 2022, Prime Minister of St Kitts and Nevis, Dr Terrance Drew, expressed that while Bitcoin Cash – another form of cryptocurrency – is used as a method of tender by some businesses in the country, due diligence checks are presently being prioritised by his government ahead of any major decision concerning that cryptocurrency’s official use.

Prime Minister Drew stated that the financial safety and security of citizens is a matter of high priority, and the government, with the guidance of the ECCB, is prepared to explore the possibility of Bitcoin Cash being introduced as legal tender in the local financial space.

The Prime Minister explained that once all the crucial financial safeguards were in place, Bitcoin Cash could become accepted legal tender in St Kitts and Nevis by March 2023.

Benefits of gaining second citizenship to St Kitts and Nevis

Citizenship by Investment is a legal process to grant individuals – and, in some cases, their families – dual citizenship in exchange for a financial contribution to the country’s economy. The initiative permits countries to channel generated funds into developing healthcare, education, infrastructure, and more.

Being a citizen of St Kitts and Nevis offers investors a myriad of benefits including family reunification, global mobility, enhanced security, and increased economic opportunities.

St Kitts and Nevis offers award-winning and internationally acclaimed education institutions like veterinary and medical universities, attracting global-minded professionals. People from all over the world come to St Kitts and Nevis, over a million a year to be exact, because of its booming tourism sector.

In recent years, the nation has seen growing numbers of American visitors. Around 1,000 US citizens currently reside on the islands. Now, with more work-from-home policies than ever, many see the Caribbean as the perfect destination to get away from the bustle of big cities while continuing to be connected when business calls.

In addition to citizenship and global mobility, St Kitts and Nevis offers its citizens who choose to become tax residents a wide variety of insurance services in a tax-friendly environment. For example, the country guarantees financial privacy by not making any information about offshore business owners and top managers public.

Portfolio diversification is the first step in dispersing your investments so that your exposure is not limited to just one type of asset. An investment in property in St Kitts and Nevis would allow you to diversify your investment portfolio and potentially make a return upon selling that your share in real estate after the end of the minimum hold period.

This will also ensure that you retain a certain amount of your wealth outside of your home country. In uncertain political and economic climates, knowing that a portion of your portfolio is free from the grips of a potentially corrupt government can give you tremendous peace of mind.

PR St Kitts and Nevis
Government of St. Kitts and Nevis
mildred.thabane@csglobalpartners.com

GlobeNewswire Distribution ID 8696223

November 14, 2022

Winners in the 19th Annual Stevie® Awards for Women in Business Announced

Women-Owned Businesses and Professionals Were Honored at an Awards Ceremony in Las Vegas

Winners named in 19th Stevie Awards for Women in Business program

Top female entrepreneurs, executives, and employees from around the world were named as Stevie Award winners at a ceremony in Las Vegas, NV U.S.A. on Friday, November 11.

FAIRFAX, Va., Nov. 14, 2022 (GLOBE NEWSWIRE) — Shining a spotlight on women executives, entrepreneurs, and organizations run by women, winners in the 2022 Stevie® Awards for Women in Business were announced on Friday, November 11.

The Stevie Awards for Women in Business is an international competition produced by the creators of the prestigious International Business Awards® and American Business Awards®. The Stevie is widely considered to be the world’s premier business award.

With nominated working women and their guests in attendance, the awards were announced during a gala event at Caesars Palace in Las Vegas, Nevada. The 2022 competition attracted nominations from 27 nations.

The presentations were broadcast live via Livestream.

More than 1,500 nominations from organizations and individuals around the world were submitted to the awards this year for consideration in categories including Entrepreneur of the Year, Executive of the Year, Most Innovative Company of the Year, and Startup of the Year, among others. More than 200 business professionals working in seven specialized judging committees determined the Gold, Silver, and Bronze Stevie Award winners.

Grand Stevie Award trophies were presented to five organizations that submitted the best body of entries to the competition, in their own names or in the names of one or more clients. Winners were determined by the number of Gold, Silver, and Bronze Stevie Awards won in the competition. The Grand Stevie Award winners are:

The Audacious Agency, Coombabah, QLD, Australia (#1)
IBM, Armonk, NY, U.S.A. (#2)
Megaphone, Melbourne, Australia (#3)
Melissa Sones Consulting, New York, NY U.S.A. (#4)
Global Press Institute, Washington D.C., U.S.A. (#5)

The 2022 Gold, Silver, and Bronze Stevie Award winners reflect a diverse group of large and small organizations from around the globe. Notable Gold Stevie Award winners in this year’s competition include:

Sandrine Pons, Regional Vice President, Head of Solutions Sales & Innovation, SAP, Paris, France, for Women Helping Women – Business
Ann Kaplan, Las Vegas, NV U.S.A, for Woman of the Year – Accounting and Finance
Susan McLaughlin, Senior Innovative Media and Creative Operations Manager, Vanguard, Malvern, PA U.S.A, for Woman of the Year – Advertising, Marketing & Public Relations
Fatima Sultan Al-Kuwari, Group Chief Human Resources Officer, Ooredoo, Qatar, for Female Executive of the Year – Business Products –More Than 2,500 Employees
Shama Hyder, CEO and Founder, Zen Media, Plano, TX U.S.A., for Most Innovative Woman of the Year – Social Media
Stephanie Wernick Barker, President, Mondo, New York, NY U.S.A, for Female Thought Leader of the Year – Business Services
Gehad Hamdy, Founder, Speak Up, Giza, Egypt, for Social Change Maker of the Year – Gender
Michelle John, Founding Director, PEGS, Shrewsbury, Shropshire, United Kingdom, for Woman of the Year – Government or Non-Profit
Kelley Higney, Founder & CEO, Bug Bite Thing, Port Lucie, FL U.S.A, for Best Female Entrepreneur – Consumer Products –11 to 2,500 Employees
Allison Grafton, President and Founder, Rockwood Custom Homes, Calgary, Alberta, Canada, for Best Female Entrepreneur in Canada

Organizations that won more than one Gold Stevie Award include Anheuser-Busch InBev, Babylist, Brandless, But Bite Thing, Caroline Kennedy Group, Everise, Flock DC, Global Press Institute, Halkbank, Harman International, LickYourPhone Media, Luma Brighter Learning, Megaphone, Primrose Schools, Rockwood Custom Homes, Rubi Laboratories, Sidus Space, and The Tambellini Group.

HCLTech, the global technology company delivering industry-leading capabilities centered around digital, engineering and cloud, powered by a broad portfolio of technology services and products, sponsored awards in four categories called HCLTech Women in Technology Awards. Among notable Stevie winners in those categories are:

Monica Williams, Senior Vice President – Digital Products and Content Distribution, NBCUniversal, for New Normal Digital Transformer
Karen Oerter, Director of Information Technology, Land O’Lakes, for New Normal Digital Transformer
Abby Knowles, Vice President Global Technology Solutions, Verizon, for Leading Through Uncertainty
Susan Doniz, CIO & SVP of Information Technology & Data Analytics, The Boeing Company, for Leading Through Uncertainty
Tia Ballard, Head of Cloud and Automation, Sempra, for Leadership in Next Gen Technology
Constance Metcalfe, Associate Vice President – Enterprise Infrastructure Transformation, Canadian Tire Corporation, for Excellence in Transforming Business

For a complete list of Stevie Award winners and more information, visit http://www.StevieAwards.com/Women.

The Stevie Awards staged the fifth edition of its Women|Future Conference virtually on November 8-10 in conjunction with the Stevie Awards for Women in Business. More than 250 women shared three days of programming highlighted by a keynote presentation by Rashmi Verma, head of D&I at Hugo Boss.

Entries for the 2023 (20th) edition of the awards will open in May. The 2023 awards ceremony will be held at the Marriott Marquis in New York, NY USA in November.

About the Stevie Awards

The Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards®, The International Business Awards®, the Middle East & North Africa Stevie Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 nominations each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Contact:
Maggie Miller
Maggie@StevieAwards.com
+1 (703) 547-8389

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9aca97a3-922e-46f1-b2cd-9dcf4a1efcb8

GlobeNewswire Distribution ID 8695848

November 14, 2022

MGA Establishes MGA Studios with $500 million in Cash and Assets; Acquires Pixel Zoo Animation

The move signals MGA’s strong commitment to growing its dominance in the rapidly evolving digital entertainment landscape by pursuing strategic gaming and tech acquisitions or partners

LOS ANGELES, Nov. 14, 2022 (GLOBE NEWSWIRE) — MGA Entertainment, Inc. (MGA), one of the world’s largest and fastest growing privately held toy and entertainment companies, announced today the formation of MGA Studios, an independent subsidiary of MGA, backed with more than a half billion dollars in cash and assets. This move underscores MGA’s continued commitment to a rapidly evolving digital entertainment landscape. In fact, more than 35 years ago, when it wasn’t usual in the toy industry to incorporate entertainment, MGA embraced it and changed the company name from Micro Games of America to MGA Entertainment, Inc.

“While continued innovation in the toy category remains a key driver for our business, we understand the world is changing and are fully committed to carrying our winning legacy into this new and evolving digital landscape,” said Isaac Larian, Founder and CEO, MGA Entertainment, Inc. “In addition to growing our large catalogue of television, movie and streaming content, through MGA Studios we aim to create smaller and safer mini universes for our children to grow and develop in a seamless digital and physical entertainment ecosystem.”

MGA Entertainment also announced today that Pixel Zoo Animation, one of the leading digital animation studios globally, is MGA Studios’ first acquisition. During the past several years, Pixel Zoo has pushed the limits of high-quality animation and content for children and families. Paul Gillett, Founder and CEO of Pixel Zoo, will continue in his role supporting MGA Studios’ growth into a dominant position globally.

“During the past few years, we have been extremely impressed by MGA’s brands, how they partner with their suppliers, as well as their creative and execution capabilities. Intellectual Property development has always been an important part of our studio and this opportunity allows our team to show the world what we can do,” said Gillett. “Working with MGA has been one of the most rewarding experiences we have had, so partnering with them is the next natural step for us. I am excited for our studio to be the first foundational building block of MGA Studios.”

MGA Studios will be charged with independently developing and growing a digital presence through acquisitions, partnerships, and in-house development of innovative content and original intellectual property (IP). MGA Studios will leverage MGA Entertainment’s existing and future IP including L.O.L. Surprise!, Little Tikes® Let’s Go Cozy Coupe®, Rainbow High, Bratz®, Baby Born®, Mermaze Mermaidz, Na! Na! Na! Surprise, and more, with great new content and brands coming soon.

“MGA Entertainment has demonstrated time and again our ability to create multiple blockbuster brands from the ground up. The purpose of MGA Studios will be to facilitate the expansion of these brands beyond the toy aisle and turn them into true transmedia franchises, including entertainment, gaming, and online experiences,” said MGA Studios President, Jason Larian. “We are committed to bringing new partners into the fold to help realize our vision and the Pixel Zoo acquisition is the first step of many on this journey.”

MGA Entertainment and Pixel Zoo have collaborated on many notable projects during the last several years including L.O.L. Surprise! The Movie, available on Netflix; L.O.L. Surprise! House of Surprises series, available on YouTube and Netflix; Rainbow High series, available on YouTube and Netflix; Mermaze Mermaidz series, available on YouTube; Let’s Go Cozy Coupe series, available on YouTube and Amazon; and more. Their latest project together, L.O.L. Surprise! Winter Fashion Show movie, premiered on Netflix this past October.

About MGA Entertainment

MGA Entertainment is one of the world’s fastest growing and largest privately held toy and entertainment companies. Headquartered in Chatsworth, Calif. and with offices globally, the company creates innovative, proprietary, and licensed consumer products and entertainment, including toys, games, dolls, apparel, consumer electronics, home décor, stationery, sporting goods, movies, and television series. The MGA family includes award-winning brands such as L.O.L. Surprise!, Little Tikes®, Rainbow High, Shadow High, Bratz®, MGA’s Miniverse, Na! Na! Na! Surprise, Mermaze Mermaidz Color Change, Micro Games of America, Baby Born® Surprise and Zapf Creation®. For more information, please visit us at www.mgae.com or check us out at LinkedIn or Twitter.

About MGA Studios

MGA Studios is an independent subsidiary of MGA Entertainment, Inc. and a Delaware C-corp. The company is focused on developing and growing a safe digital environment for children and families to come together and enjoy wholesome entertainment across digital and physical platforms. MGA Studios has rights to more than 7,000 trademarks, patents, and copyrighted works and has financial backing of MGA Entertainment, Inc. For more information, please visit www.MGAStudios.com

About Pixel Zoo

Pixel Zoo is a full-service animation studio that has focused on digital content in both short and long forms. Based in Brisbane, Australia, Pixel Zoo is at the cutting edge of animation, pushing the boundaries and developing new techniques that have continually kept them on top as the industry develops and changes around them. Lead by a team of creatives Pixel Zoo prides itself on delivering a product that speaks for itself.

###

NOTE TO EDITOR: Video clips and stills available of animated series and movie on request.

Attachments

Alan Hilowitz
MGA Entertainment, Inc.
+1.818.221.4431
news@mgae.com


GlobeNewswire Distribution ID 8695466

November 14, 2022November 15, 2022

Musk Touches on Twitter Criticism, Workload at G20 Forum

It’s not easy being Elon Musk. That was the message the new Twitter owner and billionaire head of Tesla and SpaceX had for younger people who might seek to emulate his entrepreneurial success.

“Be careful what you wish for,” Musk told a business forum in Bali on Monday when asked what an up-and-coming “Elon Musk of the East” should focus on.

“I’m not sure how many people would actually like to be me. They would like to be what they imagine being me, which is not the same,” he continued. “I mean, the amount that I torture myself, is the next level, frankly.”

Musk was speaking at the B-20 business forum ahead of a summit of the Group of 20 leading economies taking place on the Indonesian resort island. He joined the conference by video link weeks after completing his heavily scrutinized takeover of Twitter.

He had been expected to attend the event in person, but Indonesian government minister Luhut Binsar Pandjaitan, who’s responsible for coordinating preparations for the summit, said Musk could not attend because he’s preparing for a court case later in the week.

He’s got plenty else to keep himself busy.

“My workload has recently increased quite a lot,” he said with a chuckle in an apparent reference to the Twitter deal. “I mean, oh, man. I have too much work on my plate, that is for sure.”

The businessman appeared in a darkened room, saying there had been a power cut just before he connected.

His face, projected on a large screen over the summit hall, appeared to glow red as it was reflected in what he said was candlelight – a visage he noted was “so bizarre.”

While Musk was among the most anticipated speakers at the business forum, his remarks broke little new ground. Only the moderator was able to ask questions.

The Tesla chief executive said the electric carmaker would consider making a much cheaper model when asked about lower-cost options for developing countries like India and G-20 host Indonesia.

“We do think that making a much more affordable vehicle would make a lot of sense and we should do something,” he said.

Musk also reiterated a desire to significantly boost the amount and length of Twitter’s video offerings, and share revenue with people producing the content, though he didn’t provide specifics.

He bought Twitter for $44 billion last month and quickly dismissed the company’s board of directors and top executives.

He laid off much of the rest of the company’s full-time workforce by email on Nov. 4 and is now eliminating the jobs of outsourced contractors who are tasked with fighting misinformation and other harmful content.

Musk has vowed to ease restrictions on what users can say on the platform.

He’s reaped a heap of complaints — much on Twitter itself — and has tried to reassure companies that advertise on the platform and others that it won’t damage their brands by associating them with harmful content.

In his appearance Monday, Musk acknowledged the criticism.

“There’s no way to make everyone happy, that’s for sure,” he said.

Source: Voice of America

November 14, 2022November 15, 2022

40 States Settle Google Location-tracking Charges for $392 Million

Search giant Google has agreed to a $391.5 million settlement with 40 states to resolve an investigation into how the company tracked users’ locations, state attorneys general announced Monday.

The states’ investigation was sparked by a 2018 Associated Press story, which found that Google continued to track people’s location data even after they opted out of such tracking by disabling a feature the company called “location history.”

The attorneys general called the settlement a historic win for consumers, and the largest multistate settlement in U.S history dealing with privacy.

It comes at a time of mounting unease over privacy and surveillance by tech companies that has drawn growing outrage from politicians and scrutiny by regulators. The Supreme Court’s ruling in June ending the constitutional protections for abortion raised potential privacy concerns for women seeking the procedure or related information online.

“This $391.5 million settlement is a historic win for consumers in an era of increasing reliance on technology,” Connecticut Attorney General William Tong said in a statement. “Location data is among the most sensitive and valuable personal information Google collects, and there are so many reasons why a consumer may opt-out of tracking.”

Google, based in Mountain View, California, said it fixed the problems several years ago.

“Consistent with improvements we’ve made in recent years, we have settled this investigation, which was based on outdated product policies that we changed years ago,” company spokesperson Jose Castaneda said in a statement.

Location tracking can help tech companies sell digital ads to marketers looking to connect with consumers within their vicinity. It’s another tool in a data-gathering toolkit that generates more than $200 billion in annual ad revenue for Google, accounting for most of the profits pouring into the coffers of its corporate parent, Alphabet — which has a market value of $1.2 trillion.

In its 2018 story, the AP reported that many Google services on Android devices and iPhones store users’ location data even if they’ve used a privacy setting that says it will prevent Google from doing so. Computer-science researchers at Princeton confirmed these findings at the AP’s request.

Storing such data carries privacy risks and has been used by police to determine the location of suspects.

The AP reported that the privacy issue with location tracking affected some 2 billion users of devices that run Google’s Android operating software and hundreds of millions of worldwide iPhone users who rely on Google for maps or search.

The attorneys general who investigated Google said a key part of the company’s digital advertising business is location data, which they called the most sensitive and valuable personal data the company collects. Even a small amount of location data can reveal a person’s identity and routines, they said.

Google uses the location information to target consumers with ads by its customers, the state officials said.

The attorneys general said Google misled users about its location tracking practices since at least 2014, violating state consumer protection laws.

As part of the settlement, Google also agreed to make those practices more transparent to users. That includes showing them more information when they turn location account settings on and off and keeping a webpage that gives users information about the data Google collects.

The shadowy surveillance brought to light by the AP troubled even some Google engineers, who recognized the company might be confronting a massive legal headache after the story was published, according to internal documents that have subsequently surfaced in consumer-fraud lawsuits.

Arizona Attorney General Mark Brnovich filed the first state action against Google in May 2020, alleging that the company had defrauded its users by misleading them into believing they could keep their whereabouts private by turning off location tracking in the settings of their software.

Arizona settled its case with Google for $85 million last month, but by then attorneys general in several other states and the District of Columbia had also pounced on the company with their own lawsuits seeking to hold Google accountable for its alleged deception.

Source: Voice of America