Facebook Inc. (FB), Google Inc. (GOOG) Face Tighter EU

Page 1 of 2

Facebook Inc. (NASDAQ:FB) and Google Inc. (NASDAQ:GOOG) are two major tech companies that have not only gathered billions of dollars of revenue around the world, have also compiled impressive databases of personal information on millions (or in the case of Facebook, a billion) people. But if a report from Reuters is verified in the coming weeks, these two as well as other companies which compile personal data may likely see tighter regulations and restrictions on how and the extent that personal information is gathered in European Union-member countries.

Facebook Inc (FB), JetBlue Airways Corporation (JBLU)

Lawmakers in the EU are considering ways to give Internet users more control over their personal information and how much they give out in order to access Web sites. Reuters reports that the primary focus for legislators is to restrict the ability of companies like Facebook Inc. (NASDAQ:FB) and Google Inc. (NASDAQ:GOOG) to sell personal data of users – including Web-browsing habits and preferences – to third-party advertisers without the explicit consent of the users.

“Users must be informed about what happens with their data,” said Jan Philipp Albrecht, a European Parliament member from Germany. “And they must be able to consciously agree to data processing – or reject it.”

Understandably, Facebook Inc. (NASDAQ:FB) and Google Inc. (NASDAQ:GOOG)  have been aggressively lobbying against the proposed reforms, since those companies have profited from the targeted advertising that has developed from their platforms. But other industries which depend on data compilation – like health services – are also countering the proposals.

Albrecht is due to announce a plan to provide users of search engines and social-media Web sites more control of how much of their personal information can be compiled and sold to third-party marketers and advertisers. However, it likely will take months before the whole EU Parliament and the 27 member nations to come to an agreement on what the reforms will look like.

What does Facebook or Google have to say about this, officially?

Page 1 of 2

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!