Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
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.
