Hyundai Recalls Over 51,000 Vehicles in the U.S. Due to Fire Risk From Trailer Wiring Issue 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccines Portfolio 
DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile 
South Korea Central Bank Warns of Rising Financial Stability Risks Amid Won Volatility 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious 
Nike Stock Jumps After Apple CEO Tim Cook Buys $2.9M Worth of Shares 
Gold Price Breaks $4,500 as Safe-Haven Demand and Rate Cut Bets Fuel Rally 
Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions 
Asian Markets Rise as AI Rally Caps 2025, Gold and Silver Hit Record Highs 
Japan Plans $189 Billion Bond Issuance as Record Budget Signals Expansionary Fiscal Policy 
GLP-1 Weight Loss Pills Set to Reshape Food and Fast-Food Industry in 2025 
Taiwan Stock Market Ends Higher as Semiconductor and Energy Shares Lead Gains 
Facebook, Google, and Twitter reportedly warned Hong Kong that they will discontinue services if the government proceeds with its plans to implement new data protection laws. The three leading social media companies were said to have sent their message through a letter.
According to Reuters, the American tech giants are concerned over the proposed law that will hold tech firms liable for the malicious sharing of a person’s personal information online. The publication stated that this information was first revealed by The Wall Street Journal.
The proposed data laws in Hong Kong
It was reported that aside from Facebook, Google and Twitter, the letter was also signed by other companies. The group expressed their concerns that Hong Kong’s plans to address "doxing" through new laws could place their employees at risk of criminal investigations and even prosecutions over what the social media users post online.
It was explained that doxing is the term used for describing an act of disclosing peoples’ personal information that includes their real names, workplace, and home address online without their permission.
The law was proposed in May and filed at Hong Kong's Constitutional and Mainland Affairs Bureau. In the filing of amendments related to the region’s data protection regulations, it was stated that there is a need to tackle doxing, which has been prevalent during the protests that took place in 2019.
The letter from the companies was said to have been sent via the Asia Internet Coalition that is based in Singapore. The note was dated June 25, but it is not clear when it was forwarded to Hong Kong's Privacy Commissioner for Personal Data. Facebook, Google, Twitter, and others stated that the only way they could avoid sanctions is to stop investing or offering services in Hong Kong.
Why the group is opposing the doxing law
Fox Business reported that Jeff Paine, the Asia Internet Coalition's managing director, explained that the vague wording in the proposed law may harm the company and their staff as well due to possible criminal investigations. He added that the amendment may only create a "completely disproportionate and unnecessary response" when there is a complaint.
Moreover, they said that the new law could restrict free expression and turn even the most innocent moves of sharing information on the web into a criminal act. The Coalition is asking for the HK authorities to state the law clearly and explain the scope of possible violations related to the proposed amendment.
