Aramco Reportedly Approached Valvoline for a Takeover and Twitter Agrees to Paying $150 Million in Fines
Uniic Media Newsletter - Thursday - May 26, 2022
Twitter Agrees to pay $150 Million in Fines after U.S. Government Alleges Privacy Violations
Twitter has agreed to pay $150 Million in fines after the U.S. government sued the social media company yesterday, alleging that it misled consumers about how it protects their personal data.
According to the federal lawsuit, Twitter failed to tell its users for years that it used their contact information to help marketers target their advertising - in violation of a 2011 privacy settlement with the Federal Trade Commission.
"This practice affected more than 140 million Twitter users while boosting Twitter's primary source of revenue," FTC Chair Lina Khan said in a statement.
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Michigan Election Bureau says 2 leading Republican Candidates for Governor Filed Fraudulent Signatures
Michigan’s elections bureau said earlier this week that five Republican candidates for governor, including two leading contenders, failed to file enough valid nominating signatures and should not qualify for the August primary.
The bipartisan, four-member Board of State Canvassers will meet Thursday to consider the elections bureau’s findings of fraud across five gubernatorial campaigns. The Republican candidates, who are vying to face Democratic Gov. Gretchen Whitmer in November, could end up going to court if they do not make the ballot.
Turkey reportedly Discussing Legislation to Regulate the Crypto Market
Turkey is close to presenting draft legislation to regulate the Bitcoin market, especially businesses involved in the sector that operate in the country, Bloomberg reported yesterday.
Two Turkish officials familiar with the matter told the news outlet that President Recep Tayyip Erdogan’s governing AK Party is set to submit bills to parliament containing the new rules in the coming weeks. The bill is set to include measures for businesses providing cryptocurrency businesses to the public, such as exchanges.
Aramco reportedly Approached Valvoline about a Takeover
Saudi Aramco reportedly approached Valvoline about a takeover. Talks are in the early stages, but shares are up 15%+ following the news. The strategy could make strategic sense for Aramco as it looks to diversify its largely commodity-based business lines.