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Tag: watchdog

Musk mocks US financial watchdog after settlement

Musk mocks US financial watchdog after settlement

Technology
Elon Musk has hit out at the US financial regulator just days after they reached a deal on fraud charges against him. The Tesla boss agreed to pay a fine of $ 20m (£15m) to the Securities and Exchange Commission regarding a tweet he had written boasting that he had funding to take his firm private.The SEC had alleged that Musk did not have the estimated $ 25-50bn needed to make that deal happen.After initially refusing an offer to settle the case, Mr Musk backed down, agreeing that he and his company would each pay a $ 20m fine, he would step down as Tesla's chairman (but remain chief executive), and that he would allow oversight of his communications about company news.But in a tweet late on Thursday, Mr Musk described the SEC as the "Shortseller Enrichment Commission...
North Korea has not stopped nuclear activities: UN watchdog

North Korea has not stopped nuclear activities: UN watchdog

World
North Korea’s nuclear activities have not stopped over the past year and it continues to develop its nuclear program, the UN’s nuclear watchdog said in a new report. The "continuation and further development" of the program are "cause for grave concern," the International Atomic Energy Agency said in its report, released Monday, which covered developments since August 2017 and found that the North had carried out "clear violations of relevant U.N. Security Council Resolutions." The report, issued by IAEA Director General Yukiya Amano, noted that the agency faced challenges in what it could actually verify. "As the Agency remains unable to carry out verification activities in the DPRK, its knowledge of the DPRK’s nuclear programme is limited and, as further nuclea...
Recycled packaging 'may end up in landfill', warns watchdog

Recycled packaging 'may end up in landfill', warns watchdog

Science
You try to be virtuous, wiping the curdling yoghurt off a plastic pot, then putting it in the recycling bin. Perhaps you envisage the pot eventually re-incarnated as a frisbee or maybe even a plastic bench.But don’t rest easy. Your pot might get burned or buried in landfill, and you’d never know.The National Audit Office (NAO) says over half of the packaging reported as recycled is actually being sent abroad to be processed. As a result, it says, the government has little idea of whether the recyclables are getting turned into new products, buried in landfill or burned. While an illusion of success has been created by the UK’s system for recycling packaging, the NAO says, the reality may be quite different.Its r...
Facebook faces £500,000 fine from UK data watchdog

Facebook faces £500,000 fine from UK data watchdog

Technology
Media playback is unsupported on your device The UK's data protection watchdog intends to fine Facebook £500,000 for data breaches - the maximum allowed.The Information Commissioner's Office said Facebook had failed to ensure another company - Cambridge Analytica - had deleted users' data.The ICO will also bring a criminal action against Cambridge Analytica's defunct parent company SCL Elections. And it has raised concerns about political parties buying personal information from "data brokers".Specifically it named one company used by the Labour Party, Emma's Diary, which gives medical advice and free baby-themed products to parents.Facebook said it would respond to the report "soon".The ICO also said another company - Aggregate IQ - whi...
Watchdog takes aim at hotel booking sites

Watchdog takes aim at hotel booking sites

Business
Hotel booking sites must review the way they rank and display rooms, the UK's competition watchdog has said.Some sites may be making misleading claims about discounts, the Competition and Markets Authority said.It is also examining whether sites are giving a false impression of room availability and "rushing" customers into booking decisions.The CMA did not name which companies it has been investigating, but leading sites include Expedia and Booking.com.The extent to which a hotel's ranking may be influenced by the size of the commission it pays was another issue highlighted by the CMA.'Trust'The CMA, which launched its investigation into online booking sites in October, says it has sent warning letters to "a range of sites", demanding they review their p...