Chinese Regulators Reprimand Starbucks And Shake Shack Over Privacy Breach: Report

Regulators in the Chinese financial hub Shanghai has reportedly summoned companies like Starbucks Corp SBUX and Shake Shack Inc SHAK for privacy breach.

The cyberspace regulator of Shanghai city said the companies were called out for collecting personal information excessively, reported Reuters.

The firms were urged to act in way to ensure personal information protection of consumers and guard their interests and rights.

The report noted that out of the three companies that were asked to mend the ways, Shake Shack and another have made basic improvement to address the concerned issues.

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Starbucks is said to have been making changes to meet the regulators’ criteria.

Price Action: SBUX shares are trading higher by 0.03% at $101.30 in premarket on the last check Wednesday. SHAK shares closed higher by 4.02% at $73.99 on Tuesday.

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