This Feb. 25, 2020, file photo, shows the icon for TikTok in New York. A Dutch consumer organization is launching a 1.5 billion euro ($1.8 billion) claim against TikTok over what it alleges is unlawful harvesting of personal data of users of the popular video sharing platform. The Consumentenbond and a foundation called Take Back Your Privacy demanded Thursday, June 24, 2021 that TikTok pay damages to 1.2-1.6 million Dutch children who use the app. (AP Photo/File)
THE HAGUE, Netherlands (AP) — The Netherlands' Data Protection Authority said Thursday it has fined TikTok 750,000 euros ($885,000) for not offering a privacy statement in Dutch, saying many children who use the popular video sharing app would be unable to understand the information.
The agency said that by not offering a Dutch-language privacy statement, “TikTok failed to provide an adequate explanation of how the app collects, processes and uses personal data.”
It said TikTok has some 3.5 million users in the Netherlands and that Dutch privacy law is “based on the principle that people must always be given a clear idea of what is being done with their personal data.”
The data protection authority said TikTok had “lodged an objection to the fine.”
It added that it made other changes to safeguard the privacy of minors in the past 18 months, including setting accounts of 13-to-15-year-olds to private by default and only allowing direct messaging for users 16 and over.
Last month, Dutch consumer group Consumentenbond said it was launching a 1.5 billion euro ($1.8 billion) claim against TikTok over what it alleges is unlawful harvesting of personal data from users.
The group and a foundation called Take Back Your Privacy demanded that TikTok pay damages to 1.2 million to 1.6 million Dutch children who use the app.7 Forever Stocks That Are Never Bad to Buy
Investors thought 2021 would be a less volatile year. That narrative has run into some problems. Sure, all the major indexes are up for the year. And that’s despite the NASDAQ’s gut-wrenching 10% drop in March.
But many investors don’t feel much like celebrating. In fact, many are concerned about the liquidity that continues to be pumped into the stock market. In 2020, the pandemic flooded the economy with $6 trillion dollars of stimulus.
However, in the last few months, the Federal Reserve has introduced another $6 trillion into the economy. We would have stopped counting, but the math is pretty easy. It’s $12.3 trillion that has flooded into the economy.
Eventually, this is going to end badly. But timing the market is an imperfect science particularly when many investors are enjoying the game.
Fortunately, there’s a way to safeguard your portfolio without abandoning equities. That has to do with investing in forever stocks.
Forever stocks aren’t magic beans. They don’t go up forever. But they are stocks that have stood the test of time. And investing in these stocks will keep your portfolio heading in the right direction.
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View the "7 Forever Stocks That Are Never Bad to Buy"