Twitter Cannot Hide from EU Rules after Exit from Code, Breton Says

FILED - 26 April 2022, Bavaria, Kempten: The logo of Twitter is seen on the display of a laptop. Photo: Karl-Josef Hildenbrand/Deutsche Presse-Agentur GmbH/dpa
FILED - 26 April 2022, Bavaria, Kempten: The logo of Twitter is seen on the display of a laptop. Photo: Karl-Josef Hildenbrand/Deutsche Presse-Agentur GmbH/dpa
TT
20

Twitter Cannot Hide from EU Rules after Exit from Code, Breton Says

FILED - 26 April 2022, Bavaria, Kempten: The logo of Twitter is seen on the display of a laptop. Photo: Karl-Josef Hildenbrand/Deutsche Presse-Agentur GmbH/dpa
FILED - 26 April 2022, Bavaria, Kempten: The logo of Twitter is seen on the display of a laptop. Photo: Karl-Josef Hildenbrand/Deutsche Presse-Agentur GmbH/dpa

Twitter cannot run away from its obligations even after quitting a voluntary EU code of practice to tackle disinformation, EU industry chief Thierry Breton warned the company late on Friday.

Companies which signed up to the code are required to provide regular progress reports with data on how much advertising revenue they had averted from disinformation actors.

They also have to provide information on the number or value of political advertisements accepted or rejected and instances of manipulative behaviors detected.

"Twitter leaves EU voluntary code of practice against disinformation. But obligations remain. You can run but you can't hide," Breton said in a tweet.

"Beyond voluntary commitments, fighting disinformation will be legal obligation under DSA as of August 25. Our teams will be ready for enforcement,” Reuters quoted him as saying.

Since Twitter was acquired by billionaire Elon Musk for $44 billion last October, the company has cut thousands of jobs and made numerous changes.

The Digital Services Act (DSA) obliges Twitter, Google, Meta Platforms Inc, Microsoft Corp, Alibaba's AliExpress and five other large online platforms to do more to tackle illegal online content.

Companies face fines of as much as 6% of their global turnover for violations.

Twitter, which no longer has a public relations department, responded to an emailed request for comment with a poop emoji.



Samsung Expects a 56% Drop in Q2 Operating Profit, Far Short of Estimates

The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)
The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)
TT
20

Samsung Expects a 56% Drop in Q2 Operating Profit, Far Short of Estimates

The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)
The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, on July 4, 2016. (Reuters)

Samsung Electronics on Tuesday projected a 56% drop in second-quarter operating profit from a year earlier, missing analysts' estimates by far.

Its chip business struggled with weak sales of artificial intelligence chips, dogged by delays in the supply of its latest chips to Nvidia and continued losses in its contract chip manufacturing business, analysts said.

The world's largest memory chipmaker estimated an operating profit of 4.6 trillion won for the April-June period, versus a 6.2 trillion won LSEG SmartEstimate.

That would compare with 10.4 trillion won in the same period a year earlier and 6.7 trillion won in the preceding quarter.

Revenue would likely fall 0.1% to 74 trillion won from a year earlier, the filing showed.

Samsung is expected to release detailed results, including a breakdown of earnings for each of its businesses, in late July.