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Facebook fined for privacy violations

The Italian Privacy Authority fined Facebook for one million euros for the case of Cambridge Analytica which revealed the theft of personal data and the violation of the privacy of social network users.

This sanction is only the beginning, the Italian authority warned, which was based on the old Privacy Code, and remains available since last January with which the authorities had banned Facebook from continuing to use the data of Italian users of this network.

However, “new and stricter sanctions could be applied, in light of the rules of the General Data Protection Regulation,” effective since May 2018, said the president of the Guarantor Authority for the Protection of Personal Data.

The Cambridge Analytica company, based in London, that through an application of a psychological test had access to the data of more than 50 million users would have used them to try to influence the 2016 U.S. presidential elections, according to research.

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After agreement with Mexico, EU invites China to resume negotiations

Donald Trump closed one door, but he still has others open. The president of the United States claimed victory after Washington and Mexico agreed on measures to curb the flow of Central American migrants to the United States.

Trump overturned plans to impose 5% tariffs on all Mexican imports and, in a separate part of the G20 financial leaders summit, his treasury secretary, Steven Mnuchin, told reporters he urged China to follow suit and resume trade negotiations.

Mnuchin said he plans to meet privately with the head of the Central Bank of China, Yi Gang. During the G20 summit later in the day, the two shared friendly comments, but there was no new indication that Beijing is ready to engage in the technological and commercial dispute it has with Washington.

Mnuchin said he did not have a direct message to give to Yi, who participated in the 11 rounds of talks that have been held so far to try to resolve the commercial and technological dispute between the two largest economies in the world.

At the moment there are no new contacts planned either in Washington or in Beijing before Trump and his Chinese counterpart, Xi Jinping, meet in Osaka at the G20 summit on June 28-29, the US official added.

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Investing in renewable energy will bring great advantages: Joaquín Leal

Although details are being finalized for the second long-term auction, with the approval of the National Development Plan, the clean energy expert of the Massachusetts Clean Energy Center, Joaquín Leal Jiménez, supports the initiative to give tax benefits for investing in renewable energy.

This initiative deals with several articles, which provide investors, SMEs and individuals with some benefits in terms of deductions and elimination of VAT such as solar panels.

“One of the main goals of excluding VAT for solar panels is that small and medium-sized companies can implement this type of source for their business.”

Another important point of this initiative is the extension of the period of use of the special deduction in income for investments of five to 15 years in power generation with non-conventional renewable sources.

The expert, Joaquín Leal, said that the use of renewable energy such as solar panels, helps fight climate change and the cost of it is more accessible.

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Mexico also withdraws tariffs on some EU products

The Government of Mexico announced the elimination of tariffs on certain products from the United States as a measure of reciprocity for the elimination of the tax on steel and aluminum.

The measure is implemented after the agreement reached between Mexico and the United States last Friday, when the quotas of 25% to steel and 10% to aluminum were withdrawn.

The Ministry of Economy (SE) pointed out that the progress was possible due to the firm stance maintained by its owner, Graciela Márquez Colín, of not accepting quotas as a solution and that the only acceptable option for Mexico was the elimination of the measure.

He pointed out that the retaliation strategy put in place for certain American products, including agricultural products, was decisive for decision-makers to pressure the Trump administration to eliminate measure 232 on steel and aluminum from our country.

In June 2018, levies of between 15 and 25% were imposed on steel products and some agricultural goods, such as legs and shoulders of pork, apples, blueberries, cheeses, potatoes, and whiskey from the United States.

The SE reiterated that this dependency always remained opposed to considering a solution via quotas, recognizing the potential distortions of a managed trade and its conviction that free trade will continue to strengthen the competitiveness and prosperity of North America.

Finally, the agency added that it will work with the Office of the Commercial Representative of the neighboring northern country for the implementation of the agreement reached last Friday, in order to guarantee the competitiveness of the Mexican steel and aluminum sectors and promoting the creation of a competitive market in North America.

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Focused on the trade war, the US and China will tax these products

Focused on trade and tariff warfare, the Governments of China and the United States announced the list of products of their economic exchange that will be taxed within the framework of actions and reactions that hit the stock exchanges and currencies of all the world.

The measure taken by the US would reach tariffs of 300 billion dollars in laptops, saw blades, turbine parts, tuna and garlic. President Donald Trump threatened the Asian Giant with incorporating 25% punitive tax on all Chinese products exported to the American Union .

China is not afraid

In retaliation, China announced on Monday tariffs ranging from 5 to 25% in many US products that would reach $60 billion, causing a collapse in Wall Street. The Ministry of Finance of China commented on batteries , spinach and coffee as the main products being affected.

Donald Trump reported that during the fourteenth meeting of the Group of 20 (G-20) he will meet privately with his Chinese counterpart Xi Jinping to address this and other pending issues on the agenda. The appointment of this international summit is June 28 and 29 in the city of Osaka, Japan.