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Yahoo to introduce 'Do Not Track' tool globally by early summer

The Yahoo! offices are pictured in Santa Monica, California.Reuters

Yahoo said Thursday that it will implement a "Do Not Track" mechanism across its global network by early summer amid growing concerns about online privacy.

The Wall Street Journal reported Monday that the US Federal Trade Commission issued a strong call for commercial-data collectors to adopt better privacy practices and called for Congress to pass comprehensive privacy legislation.

The agency also called on US commercial data collectors to implement a Do Not Track button in web browsers by the end of the year or face legislation from Congress forcing the issue.

Yahoo said Thursday that its Do Not Track system has been in development since last year and is in accordance with the Digital Advertising Alliance's principles.

The internet company said the site-wide mechanism will provide a simple step for consumers to express their ad-targeting preferences.

Yahoo reported in January that its fourth-quarter earnings fell 5.3 percent on a bigger tax provision, while its operating income improved thanks to lower operating and revenue costs despite a 13 percent drop in total revenue.

Shares closed Wednesday at $15.32 and were inactive premarket. The stock is down five percent so far this year.