Google Settles Class-Action Lawsuit For $23 Mln Over Sharing Of User Searches

Google has reached a $23 million settlement in a class-action lawsuit that alleges the company shared users’ search information with third-party websites without their consent.

While denying the claims of sharing information, Google agreed to the settlement, which does not imply admission of wrongdoing, according to the notice of proposed settlement.

Users who conducted searches on Google and clicked on search result links between October 26, 2006, and September 30, 2013, may be eligible to receive a portion of the settlement.

To be included as a settlement class member, individuals must have used Google Search and clicked on a search result link within the specified timeframe. Those who qualify must decide whether to participate by July 31.

The expected payment for approved claims is approximately $7.70 per person, based on current data. The settlement is subject to final approval, with the final approval hearing scheduled for October 12. Users who wish to object to the settlement can submit a written statement to the court explaining their disapproval by July 31 and may also request an opportunity to speak in court regarding the matter.

As a result of the lawsuit, Google will make changes to its frequently asked questions (FAQs) and key terms pages. These updates will provide clarity on the circumstances under which search queries are shared with third parties using referrer headers.

Adobe Inc. Q2 Profit Increases, beats estimates

Adobe Inc. (ADBE) reported earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $1.29 billion, or $2.82 per share. This compares with $1.18 billion, or $2.49 per share, in last year’s second quarter.

Excluding items, Adobe Inc. reported adjusted earnings of $1.79 billion or $3.91 per share for the period.

Analysts on average had expected the company to earn $3.79 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.8% to $4.82 billion from $4.39 billion last year.

Adobe Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.29 Bln. vs. $1.18 Bln. last year.
-EPS (Q2): $2.82 vs. $2.49 last year.
-Analyst Estimate: $3.79
-Revenue (Q2): $4.82 Bln vs. $4.39 Bln last year.

-Guidance:
Next quarter EPS guidance: $3.95 to $4.00
Next quarter revenue guidance: $4.83 to $4.87 Bln
Full year EPS guidance: $15.65 to $15.75
Full year revenue guidance: $19.25 to $19.35 Bln

European Economic News Preview: Italy Industrial Production Data Due

Industrial production from Italy is the only major statistical report due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway is scheduled to issue consumer price data for May. Consumer price inflation is forecast to slow to 6.2 percent from 6.4 percent in April.

In the meantime, Statistics Sweden releases household consumption and industrial output data.

At 3.00 am ET, industrial output figures are due from Austria.

At 4.00 am ET, Italy’s statistical office ISTAT releases industrial production data for April. Economists forecast industrial output to grow 0.1 percent on month, in contrast to the 0.6 percent decrease in March.

At 5.00 am ET, the Hellenic Statistical Authority is set to issue Greece inflation figures for May.

At 6.30 am ET, Russia’s central bank announces its interest rate decision. The bank is widely expected to hold its key interest rate at 7.50 percent.

Huish Recalls Oceanic SCUBA Diving Buoyancy Compensating Devices

Huish has recalled about 7,100 Oceanic SCUBA diving buoyancy compensating devices due to the risk of drowning.

According to the Consumer Product Safety Commission, the handle for the weight pockets in the Scuba Diving Buoyancy Compensating Device can break during use. If this happens, the user will not be able to dump weight pockets in an emergency to rise to the surface, posing a drowning hazard.

The company said it has received 73 reports of broken weight pocket handles. However, no injuries have been reported.

The recall involves SCUBA Diving Buoyancy Compensating Devices (BCD). The user wears the jacket-style BCD during a dive. The recalled BCDs look like a vest with an attachment point on the back for the tank, an upper airway assembly that consists of a corrugated rubber hose and an inflation mechanism that can be attached to a SCUBA regulator, and integrated weight pouches on either side that can be loaded with weights that can be dumped in an emergency.

The recalled devices include the following models: Oceanic OceanPro, Oceanic Excursion, and Oceanic Hera with serial numbers: 608262 through 695909, 1170357 through 1180342, 1200001 through 1200070 and 20031001 through 22082698.

The recalled products were sold at scuba dive equipment stores nationwide and online through third-party distributor and dealer websites from April 2019 through May 2023 for between $530 and $720.

Trek Recalls Promax Hydraulic Disc Brakes

Trek has recalled about 96,900 Promax hydraulic disc brakes sold on Trek bicycles due to the risk of a crash.

According to the Consumer Product Safety Commission, the brake hose can detach from the brake lever, posing a crash hazard.

The recall involves Trek bicycles with revision 1 of the Promax Solve DSK-925 and Promax F1 DSK-927 hydraulic disc brakes installed as original equipment on the bicycle models. The serial number is printed on a sticker underneath the frame of the bicycle. Additional details can be found on the CPSC website.

Trek said it has received 195 reports of brake hoses detaching from the brake lever in the United States. No injuries have been reported.

The company has asked its customers to immediately stop using the bicycles with the recalled brakes and contact their local authorized Trek dealer for a free inspection and repair.

The recalled bicycles were sold at Trek dealers nationwide and online at www.trekbikes.com from June 2021 through March 2023 for between $730 and $3,300.