Technology

Report Shows How Loophole in Privacy Law Makes Opting Out of Facebook Data Sharing Difficult; Global Opt Out Law Needed, Consumer Watchdog Says

Published

2 years ago

July 31, 2024

LOS ANGELES, July 31, 2024 /PRNewswire/ — A new report from Consumer Watchdog shows how thousands of companies share your data with Facebook, including financial companies and health care providers, and how a loophole in California’s premier privacy law makes opting out difficult and time consuming.

The report details how the big three web browsers do not offer a global opt out signal to make companies halt the sale and sharing of personal information easy, but pending legislation in California will make the global opt out signal mandatory.

“In order to exercise your rights and tell a business to stop sharing or selling your data, you need to have the time and sanity to visit thousands of websites,” said Justin Kloczko, tech and privacy advocate for Consumer Watchdog. “This is an access issue, and we need better tools. The legislature must pass Assembly Bill 3048 (Lowenthal) and the governor should sign it.”

Read the report, “No Opt Out,” here.

Watch a consumer alert on the issue here.

The same tech companies that collect lots of data also own the most popular web browsers—Google Chrome, Apple Safari, and Microsoft Edge—but they don’t let us tell all businesses our privacy choices because it’s not in their financial interest to do so, said the nonprofit advocacy group.

Although businesses must accept a global opt out under the California Consumer Privacy Act (CCPA), most browsers don’t offer such a signal unless a plug-in is installed. Even then, not all browsers accept it.

Using Facebook as an example, Kloczko tried to take control of his data, but discovered how time-consuming and confusing opting out can be. He learned Facebook knows about over 2,500 companies that he’s visited online, including his credit card company and health insurer, since opening his account nearly 20 years ago. The list also contains major data brokers like Experian and Live Ramp that he didn’t interact with directly.

“Data brokers keep a low profile but traffic in our most personal details. They know what we eat, watch, read, and purchase,” said Kloczko.

And despite deactivating his Facebook account for a year, meaning his account was not visible to other accounts, the sharing between Facebook and companies Kloczko visited continued, said the nonprofit. According to the data, Facebook and advertisers still knew about 671 businesses Kloczko interacted with online, including his health insurer, credit card company, and bank.

“If I want to put a stop to this data sharing, I must navigate a confusing, seemingly endless labyrinth of privacy options obscured in legalese,” said Kloczko. “It’s a tedious undertaking that fatigues people from exercising their options.”

Separately, it’s not even clear that Facebook is complying with the CCPA because even though Facebook says it does not share or sell your data, advertisers still pay for access to it.

Recent polling says that while most Californians are concerned about the sharing and selling of personal information, they lack understanding of their privacy rights.

The good news is there is pending state legislation to strengthen rights, as well as laws being implemented right now that will make exercising privacy rights easier for Californians, said the nonprofit.

If passed and signed by the governor, AB 3048 will make California the first state in the country to allow users to opt out in one step by requiring browsers to offer a global opt-out preference signal that opts out of the sale/sharing of personal information and its use for targeted advertising.

And in 2026, Californians will be able to tell data brokers, who collect data from other parties, to delete all personal information in one step, thanks to an amendment to the CCPA called the Delete Act, or Senate Bill 362 (Becker). Currently under the law, data brokers are required to enter a state registry and disclose if they collect information on geolocation, minors, and health data.

The average person using the Internet spends almost seven hours a day in front of a screen. That’s roughly 17 years spent checking the Internet. We check our phones on average of 144 times a day. This generates a lot of data. People are surveilled as they book doctor appointments, shop for food, and dial suicide hotlines. Our every search, scroll and tap is monetized as part of a personal data industry that is worth billions of dollars. Each person has about 3,000 data points. And based on that data algorithms and artificial intelligence are deciding jobs, health care, finances, down to the very way we receive information.

“There has never been a greater need for a universal opt-out,” said Kloczko. “By casting a privacy net over businesses, Californians will be better equipped to protect their personal information and fight discrimination.”

View original content to download multimedia:https://www.prnewswire.com/news-releases/report-shows-how-loophole-in-privacy-law-makes-opting-out-of-facebook-data-sharing-difficult-global-opt-out-law-needed-consumer-watchdog-says-302211349.html

SOURCE Consumer Watchdog

Technology

Bloomberg Introduces Spread-to-Benchmark Quoting for EUR and GBP Portfolio Trading Baskets

Published

16 hours ago

June 2, 2026

LONDON, June 2, 2026 /PRNewswire/ — Bloomberg today announced the launch of Spread-to-Benchmark quoting and trading for Euro (EUR) and Sterling (GBP) denominated portfolio trades through its Portfolio Trading Basket Builder (PTBB). The new functionality expands the range of quoting protocols available for European credit portfolio trading and reflects growing client demand for spread-based execution workflows, alongside increased dealer support for the convention across EUR and GBP markets.

Spread-to-Benchmark quoting is a well-established protocol for USD credit portfolio trades and is used by market participants to evaluate and execute portfolio trades. By extending this workflow to EUR and GBP portfolio trades, Bloomberg enables clients and dealers to transact using a familiar spread-based methodology across additional credit markets.

The introduction of Spread-to-Benchmark quoting for EUR and GBP baskets reflects increased client interest in evaluating portfolio trades through a spread-based lens and the growing adoption of spread-based execution workflows in European credit markets. The workflow provides market participants with an additional framework for assessing the relationship between credit spread risk and underlying government bond yields when pricing and executing portfolio trades.

Additional Workflow Flexibility 
The workflow complements Bloomberg’s existing portfolio trading capabilities, which support the full range of market-standard quoting conventions, including Price, Yield, Spread-to-Benchmark and Spread based workflows that reference Bloomberg’s evaluated pricing service (BVAL). This gives clients flexibility to compare and execute portfolio trades using the quoting methodology that best aligns with their investment objectives, execution preferences and internal risk management processes.

“European credit clients continue to look for execution workflows that reflect how they evaluate risk and monitor portfolio trading outcomes,” said Harry Street, Global Head of Credit and Equities Trading Product at Bloomberg. “By expanding dealer support for Spread-to-Benchmark quoting for EUR and GBP baskets, Bloomberg is broadening the range of workflow options available to clients trading European credit portfolios.”

“Portfolio trading workflows in fixed income continue to become more sophisticated as institutional investors look for ways to evaluate execution quality in changing market conditions,” said Kevin McPartland, Head of Market Structure & Technology Research at Crisil Coalition Greenwich. “Spread-based quoting helps market participants more clearly distinguish between the impacts of credit spread and underlying rates movements when determining how best to execute a portfolio trade.”

Bloomberg’s Electronic Markets solutions are used by leading financial institutions to trade efficiently in over 175 markets around the world. More than 9,000 client firms use Bloomberg Electronic Markets to access industry-leading depth and breadth of liquidity across asset classes from over 800 dealers globally. Bloomberg Electronic Markets provides market participants with comprehensive solutions across the trading lifecycle, including robust price transparency, analytics, automation and execution, powered by Bloomberg’s high-quality, multi-asset class data and tools.

About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

View original content to download multimedia:https://www.prnewswire.com/news-releases/bloomberg-introduces-spread-to-benchmark-quoting-for-eur-and-gbp-portfolio-trading-baskets-302787922.html

SOURCE Bloomberg L.P.

Technology

Dr. Sunho Kang, a senior battery-technology executive with leadership experience at major global battery and EV manufacturers, joins TeraWatt Technology as Head of Product and Technology

Published

16 hours ago

June 2, 2026

SAN FRANCISCO, June 2, 2026 /PRNewswire/ — TeraWatt Technology Inc. (Headquartered in California, USA) is pleased to announce that Dr. Sunho Kang has joined the company as Head of Product and Technology.

Dr. Kang is a globally recognized battery-technology executive with more than 25 years of leadership experience spanning the United States, Asia, and Europe, and a distinguished track record of advancing innovations from laboratory research through gigafactory-scale production. He has held senior executive positions at world-leading organizations including Samsung SDI, Apple, and Volkswagen Group of America, and brings deep expertise in lithium-ion battery materials, cell engineering, and product industrialization across a broad range of applications, including electric vehicles and energy storage systems.

At TeraWatt, Dr. Kang will lead global product development and the commercialization of TeraWatt’s battery technology platform, aiming to accelerate the delivery of TeraWatt’s competitive products as well as the technology and commercialization roadmap including manufacturing scale-up.

Dr. Kang commented:

“I am thrilled to join TeraWatt Technology as Head of Product and Technology. TeraWatt’s innovative battery platform presents a tremendous opportunity to push the boundaries of lithium-ion technology, and I look forward to working with the team to accelerate product development and commercialization to deliver meaningful impact.”

TeraWatt Technology founder CEO Ken Ogata, Ph.D. commented:

“We are thrilled to welcome Dr. Kang as our Head of Product and Technology. His deep expertise in battery materials, cell engineering, and productization will be instrumental in accelerating TeraWatt’s product roadmap and technology leadership. Together with Dr. Kang, we will continue to drive our mission forward.”

About TeraWatt Technology Inc.
TeraWatt Technology Inc. is a California-based company that produces lightweight, high-power, and safe next-generation lithium-ion batteries.

Company Overview
Name: TeraWatt Technology Inc.
Representative: Co-founder and CEO Ken Ogata
Headquarters: 28 Geary St, Suite 650, San Francisco, CA 94108, United States
Founded: January 2020
Established: December 2019
URL: https://www.terawatt-technology.com/

View original content:https://www.prnewswire.com/news-releases/dr-sunho-kang-a-senior-battery-technology-executive-with-leadership-experience-at-major-global-battery-and-ev-manufacturers-joins-terawatt-technology-as-head-of-product-and-technology-302786854.html

SOURCE TeraWatt Technology Inc.

Technology

Tencent Cloud and Soniox Announce Strategic Partnership: Combining Advanced Speech-to-Text (STT) Technology with Global Real-Time Infrastructure

Published

16 hours ago

June 2, 2026

HONG KONG, June 2, 2026 /PRNewswire/ — Tencent Cloud, the cloud business of global technology company Tencent, today announced a strategic partnership with Soniox, a San Francisco-based speech AI company that specializes in developing high-accuracy, low-latency speech AI solutions. The collaboration integrates Soniox’s speech-to-text (STT) technology with Tencent Cloud’s Real-Time Communication (TRTC) enterprise-grade global infrastructure, enabling enterprises to build and deploy multilingual voice AI applications across 200+ countries and regions.

Elevating Enterprise Voice AI at a Global Scale

In enterprise voice AI deployments, latency directly affects user experience and application reliability. The integration of Soniox’s high-accuracy, low-latency STT with TRTC’s global transmission infrastructure reduces latency across the entire pipeline, creating a comprehensive end-to-end solution for enterprises deploying conversational AI applications worldwide.

Soniox is the voice platform for every language. Unlike legacy speech AI, which was built primarily for English-speakers, Soniox delivers native-speaker accuracy across 60+ languages. Its technology can handle mid-sentence language switching — a user can switch between English and Chinese in a single utterance, and Soniox will capture every word with complete accuracy. All of this works through a single API that works for both speech-to-text and text-to-speech.

By integrating TRTC, the partnership leverages an enterprise-grade real-time communication backbone featuring more than 3,200 global nodes, sub-300 ms worldwide latency, and advanced capabilities such as AI noise suppression and weak-network resilience. These capabilities enable conversational AI applications to operate reliably across diverse network environments, including regions such as Southeast Asia and Africa.

With the roll out of this partnership, developers can integrate the Soniox STT API directly within the Tencent Cloud console. Whether targeting English-speaking markets or supporting languages such as Arabic, Hindi, and Malay, enterprises can build global voice applications — including intelligent customer service, voice assistants, real-time translation, and meeting transcription — to address the demands of expansion into emerging markets and multilingual scenarios.

Wison Xie, Head of Product at Tencent RTC, stated: “Tencent RTC has always been committed to providing reliable real-time communication infrastructure for global enterprises. Our partnership with Soniox brings together our strengths in enterprise-grade audio transmission and Soniox’s advanced speech recognition technology. Together, we are making it easier for businesses to deploy accurate, low-latency voice AI applications across any language and any market.”

Klemen Simonic, CEO at Soniox Inc., stated “At Soniox, our mission is to help businesses understand every word, in any language, with native speaker accuracy and exceptional speed. Partnering with Tencent Cloud combines our speech AI with world-class real-time infrastructure, enabling enterprises to build voice AI experiences that scale globally with low latency and reliability.”

About Tencent Cloud:

Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.

About Tencent RTC:

Tencent RTC provides real-time communication solutions, including audio/video calling, live streaming, and in-game voice. With enterprise-grade security, AI-powered enhancements, and a global network of over 3,200 nodes, Tencent RTC powers mission-critical communication for customers worldwide.

About Soniox:

Soniox is a next-generation voice AI company bringing about the end of English-first speech AI. Most people on the planet did not grow up speaking English and often mix languages mid-sentence; and yet legacy speech AI was built for just English. Soniox is different: native-speaker accuracy across 60+ languages, true mid-sentence language switching, and flawless alphanumeric recognition that legacy providers still can’t match. For developers building global apps, Soniox is the only option. Try it for yourself at soniox.com.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tencent-cloud-and-soniox-announce-strategic-partnership-combining-advanced-speech-to-text-stt-technology-with-global-real-time-infrastructure-302786832.html

SOURCE Tencent Cloud