Facebook Pushes for Data Portability Legislation Ahead of FTC Hearing

FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration
FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration
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Facebook Pushes for Data Portability Legislation Ahead of FTC Hearing

FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration
FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration

Facebook Inc on Friday pushed for legislation that makes it easier for users to transfer photos and videos to a rival tech platform, in comments it sent to the Federal Trade Commission ahead of a hearing on the topic on Sept. 22.

Data portability has become a key part of the antitrust debate in the US and Europe.

In April, Facebook allowed users in the US and Canada to transfer photos and videos to Alphabet-owned Google Photos for the first time - a move that is likely to help the company respond to US regulators and lawmakers, who are investigating its competitive practices and allegations it has stifled competition.

“The FTC often issues reports following these workshops ... I think their recommendations should include dedicated portability legislation,” Bijan Madhani, privacy and public policy manager at Facebook told Reuters.

Facebook supports a portability bill already doing the rounds in Congress called the Access Act from Democratic Senators Richard Blumenthal and Mark Warner, and Republican senator Josh Hawley. It would require large tech platforms to let their users easily move their data to other services.

The bill is a good first step, Madhani said. Facebook has engaged with the lawmakers on it and will continue working with them, he added.

Facebook is also seeking regulatory guidance, in the form of an independent body or regulator, in answering policy questions and helping them address liability issues tied to portability, Madhani said.

The social media platform is also pressing for more clarity on what kinds of data should be portable and who is responsible for protecting such information as it moves to different services, he noted.



Apple Shares Fall as Tariff Costs to Add More Agony

FILE PHOTO: Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, US, August 1, 2018. REUTERS/Lucas Jackson/File Photo
FILE PHOTO: Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, US, August 1, 2018. REUTERS/Lucas Jackson/File Photo
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Apple Shares Fall as Tariff Costs to Add More Agony

FILE PHOTO: Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, US, August 1, 2018. REUTERS/Lucas Jackson/File Photo
FILE PHOTO: Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, US, August 1, 2018. REUTERS/Lucas Jackson/File Photo

Apple shares fell nearly 3% on Friday after the iPhone maker trimmed its share buyback program and CEO Tim Cook warned of additional tariff-related costs of about $900 million this quarter amid a raging Sino-US trade war.
The Cupertino, California-based company that makes over 90% of its products in China said it plans to shift production of iPhones to India to minimize the impact of President Donald Trump's trade war.
"It looks like Apple is progressing faster than expected with its move to shift production of US phones into the region (India)," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
Analysts at Wedbush echoed this view, referring to India as Apple's "life raft supply chain" as the company navigates through tariff turbulence.
Cook outlined how Apple has started to build up a stockpile of products so that the majority of its devices sold in the US this quarter will not come from China.
“Tim Cook did his best to reassure investors on last night’s earnings call, but many likely came away still wanting more clarity about what lies beyond June," Matt said, adding that the $900 million hit to profit turned out to be smaller than many had feared.
Apple, which has been grappling with increased competition in key market China from rivals like Huawei due to slower rollouts of AI features, was already in troubled waters before the tariffs hit.
"The question for investors is what can replace China for Apple? This is not an easy question to answer and could threaten the long-term trajectory of Apple’s growth plan," said Kathleen Brooks, research director at XTB.
Despite electronics being exempted from US.President Donald Trump's slew of import tariffs so far, Washington has signaled that some levies could be imposed in the coming weeks.
Big Tech peers Alphabet, Microsoft and Meta Platforms beat quarterly estimates aided by artificial intelligence, while Amazon.com's cloud revenue growth fell short of revenue expectations.
These results were in stark contrast to dour forecasts from consumer electronics companies that are more exposed to tightening consumer budgets - chipmakers Qualcomm, Samsung Electronics, and Intel.
Apple shares lost about 15% so far this year. That compares with a 2.3% fall in Meta, and a nearly 1% rise in Microsoft.
Apple's 12-month forward price-to-earnings ratio is 27.63, compared with Microsoft's 28.64 and Meta's 21.48.