Alphabet Inc Class A (NASDAQ:GOOGL): Australia Investigatin…


Alphabet Inc (NASDAQ:GOOGL) is under investigation in Australia over allegations on its data collection practices. The probe stems from information relayed by tech company Oracle, but the company contends that there’s nothing to see here. 

CNBC has the news on Google’s troubles in the land Down Under.

Google is under investigation in Australia following claims that it collects data from millions of Android smartphones users, who unwittingly pay their telecom service providers for gigabytes consumed during the harvesting, regulators said on Tuesday.

Responding to the latest privacy concerns surrounding Google, a spokesman for the U.S. based search engine operator said the company has users’ permission to collect data.

Australia was already reviewing the impact that Google and Facebook have on the advertising market, and allegations made by Oracle popped up in the report. That’s prompted a review of what’s going on by both the Australian Competition and Consumer Commission (ACCC) and the country’s Privacy Commissioner. Geesche Jacobsen, a competition regulator spokeswoman, offered up some insight into the probe.

“The ACCC met with Oracle and is considering information it has provided about Google services,” Jacobsen said. “We are exploring how much consumers know about the use of location data and are working closely with the Privacy Commissioner.”

Alphabet Inc Class A shares were trading at $1,068.01 per share on Friday morning, down $13.25 (-1.23%). Year-to-date, GOOGL has gained 1.39%, versus a 2.23% rise in the benchmark S&P 500 index during the same period.

GOOGL currently has a StockNews.com POWR Rating of B (Buy), and is ranked #16 of 51 stocks in the Internet category.


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