Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

(FB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Exclusive: Google users in UK to lose EU data protection - sources

share with twitter share with LinkedIn share with facebook
share via e-mail
02/19/2020 | 04:29pm EDT
FILE PHOTO: The Google internet homepage is displayed on a product at a store in London

Google is planning to move its British users' accounts out of the control of European Union privacy regulators, placing them under U.S. jurisdiction instead, sources said.

The shift, prompted by Britain's exit from the EU, will leave the sensitive personal information of tens of millions with less protection and within easier reach of British law enforcement.

The change was described to Reuters by three people familiar with its plans. Google intends to require its British users to acknowledge new terms of service including the new jurisdiction.

Ireland, where Google and other U.S. tech companies have their European headquarters, is staying in the EU, which has one of the world's most aggressive data protection rules, the General Data Protection Regulation.

Google has decided to move its British users out of Irish jurisdiction because it is unclear whether Britain will follow GDPR or adopt other rules that could affect the handling of user data, the people said.

If British Google users have their data kept in Ireland, it would be more difficult for British authorities to recover it in criminal investigations.

The recent Cloud Act in the United States, however, is expected to make it easier for British authorities to obtain data from U.S. companies. Britain and the United States are also on track to negotiate a broader trade agreement.

Beyond that, the United States has among the weakest privacy protections of any major economy, with no broad law despite years of advocacy by consumer protection groups.

A Google spokesman declined to comment ahead of a public announcement.

An employee familiar with the planned move said that British privacy rules, which at least for now track GDPR, would continue to apply to that government's requests for data from Google's U.S. headquarters.

Google has amassed one of the largest stores of information about people on the planet, using the data to tailor services and sell advertising.

Google could also have had British accounts answer to a British subsidiary, but has opted not to, the people said.

Lea Kissner, Google's former lead for global privacy technology, said she would have been surprised if the company had kept British accounts controlled in an EU country with the United Kingdom no longer a member.

"There's a bunch of noise about the U.K. government possibly trading away enough data protection to lose adequacy under GDPR, at which point having them in Google Ireland's scope sounds super-messy," Kissner said.

"Never discount the desire of tech companies not be caught in between two different governments."

In coming months, other U.S. tech companies will have to make similar choices, according to people involved in internal discussions elsewhere.

Facebook, which has a similar set-up to Google, did not immediately respond to requests for comment.

By Joseph Menn

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FACEBOOK
04/05Some ETFs to Turn to in Any Panic -- Journal Report
DJ
04/05FACEBOOK : Road to Redemption Runs Straight Down Main Street -- Update
DJ
04/05FACEBOOK : Road to Redemption Runs Straight Down Main Street
DJ
04/03GLOBAL MARKETS LIVE: Tesla meets expectations
04/03ALPHABET : Google data shines light on whether coronavirus lockdowns worldwide a..
RE
04/02EU justice chief urges U.S. tech giants to halt virus clickbaits
RE
04/02FACEBOOK : March 2020 Coordinated Inauthentic Behavior Report
PU
04/02FACEBOOK : launches desktop version for Messenger as video calls surge
RE
04/02DON'T GET BOMBED : How to Host Zoom Meetings, -2-
DJ
04/02DON'T GET BOMBED : How to Host Zoom Meetings, Hangouts, Houseparty and More
DJ
More news
Financials (USD)
Sales 2020 81 265 M
EBIT 2020 28 696 M
Net income 2020 23 861 M
Finance 2020 64 537 M
Yield 2020 -
P/E ratio 2020 19,4x
P/E ratio 2021 15,7x
EV / Sales2020 4,75x
EV / Sales2021 3,75x
Capitalization 451 B
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Average target price 228,13  $
Last Close Price 158,19  $
Spread / Highest target 89,6%
Spread / Average Target 44,2%
Spread / Lowest Target -24,1%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
FACEBOOK-24.88%475 455
TWITTER-27.96%19 178
MATCH GROUP, INC.-22.42%18 673
LINE CORPORATION-0.19%11 609
SINA CORPORATION-17.81%2 215
NEW WORK SE-35.34%1 211