Facebook’s EU regulator says it ‘remains to be seen’ if Mark Zuckerberg is serious about privacy

The Irish regulator conducting nearly one dozen investigations into Facebook isn’t convinced by Mark Zuckerberg’s privacy push. In a CNBC interview Wednesday, Ireland’s Data Protection Commissioner Helen Dixon said “it’s all going to remain to be seen” whether Facebook and CEO Mark Zuckerberg are serious about a shift toward privacy and security on the platform. In the meantime, Dixon said Ireland’s Data Protection Commission (DPC) will continue its investigations into Facebook and other U.S. te


The Irish regulator conducting nearly one dozen investigations into Facebook isn’t convinced by Mark Zuckerberg’s privacy push. In a CNBC interview Wednesday, Ireland’s Data Protection Commissioner Helen Dixon said “it’s all going to remain to be seen” whether Facebook and CEO Mark Zuckerberg are serious about a shift toward privacy and security on the platform. In the meantime, Dixon said Ireland’s Data Protection Commission (DPC) will continue its investigations into Facebook and other U.S. te
Facebook’s EU regulator says it ‘remains to be seen’ if Mark Zuckerberg is serious about privacy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: elizabeth schulze
Keywords: news, cnbc, companies, dixon, mark, facebook, eu, irelands, facebooks, investigations, serious, privacy, zuckerberg, protection, giants, seen, data, remains, regulator


Facebook's EU regulator says it 'remains to be seen' if Mark Zuckerberg is serious about privacy

The Irish regulator conducting nearly one dozen investigations into Facebook isn’t convinced by Mark Zuckerberg’s privacy push.

The internet giant’s stock fell Wednesday after a report in the Wall Street Journal suggested the Facebook boss has previously been aware of potential issues with privacy, arising from the firm’s business practices.

In a CNBC interview Wednesday, Ireland’s Data Protection Commissioner Helen Dixon said “it’s all going to remain to be seen” whether Facebook and CEO Mark Zuckerberg are serious about a shift toward privacy and security on the platform.

In the meantime, Dixon said Ireland’s Data Protection Commission (DPC) will continue its investigations into Facebook and other U.S. tech giants as they face increased scrutiny by regulators around the world.

“There will certainly be some of the investigations into Facebook that will reach a conclusion in the coming months,” Dixon told CNBC. She added she has met and spoke with “a number of the senior executives at Facebook.”


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: elizabeth schulze
Keywords: news, cnbc, companies, dixon, mark, facebook, eu, irelands, facebooks, investigations, serious, privacy, zuckerberg, protection, giants, seen, data, remains, regulator


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Uber’s European rival Bolt launches in London

Uber’s European rival Bolt is now taking it on in the streets of London. The Estonian ride-hailing company formerly known as Taxify announced its launch in the U.K.’s capital city Tuesday. It joins a growing list of start-ups trying to take market share from Uber in the London metropolitan area. Villig, who founded the company in 2013, said more than 20,000 drivers have already signed up with Bolt ahead of Tuesday’s launch. There were an estimated 87,900 private hire vehicles licensed in London


Uber’s European rival Bolt is now taking it on in the streets of London. The Estonian ride-hailing company formerly known as Taxify announced its launch in the U.K.’s capital city Tuesday. It joins a growing list of start-ups trying to take market share from Uber in the London metropolitan area. Villig, who founded the company in 2013, said more than 20,000 drivers have already signed up with Bolt ahead of Tuesday’s launch. There were an estimated 87,900 private hire vehicles licensed in London
Uber’s European rival Bolt launches in London Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, launch, european, bolt, villig, ridehailing, uber, vehicles, company, london, ubers, uks, rival, launches


Uber's European rival Bolt launches in London

Uber’s European rival Bolt is now taking it on in the streets of London.

The Estonian ride-hailing company formerly known as Taxify announced its launch in the U.K.’s capital city Tuesday. It joins a growing list of start-ups trying to take market share from Uber in the London metropolitan area.

“We see this as quite a monumental thing for both the company and the ride-hailing industry as a whole,” Bolt CEO Markus Villig told CNBC in an interview. “London is one of the biggest, most profitable markets for Uber globally and one where it didn’t have a serious competitor.”

Villig, who founded the company in 2013, said more than 20,000 drivers have already signed up with Bolt ahead of Tuesday’s launch. There were an estimated 87,900 private hire vehicles licensed in London as of March 2018, according to the Department for Transport.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: elizabeth schulze
Keywords: news, cnbc, companies, launch, european, bolt, villig, ridehailing, uber, vehicles, company, london, ubers, uks, rival, launches


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

If you want to know what a US tech crackdown may look like, check out what Europe did

European Competition Commissioner Margrethe Vestager speaks during a news conference at the EU Commission headquarters in Brussels, April 15, 2015. As U.S. regulators and lawmakers step up their efforts to reign in big tech companies, Europe offers some valuable lessons. Here’s how Google, Facebook, Amazon and Apple have fared among EU regulators so far. The European Commission first went after Google in 2017 with a $2.7 billion fine for abusing its dominance as a search engine. The European Com


European Competition Commissioner Margrethe Vestager speaks during a news conference at the EU Commission headquarters in Brussels, April 15, 2015. As U.S. regulators and lawmakers step up their efforts to reign in big tech companies, Europe offers some valuable lessons. Here’s how Google, Facebook, Amazon and Apple have fared among EU regulators so far. The European Commission first went after Google in 2017 with a $2.7 billion fine for abusing its dominance as a search engine. The European Com
If you want to know what a US tech crackdown may look like, check out what Europe did Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, antitrust, look, europe, commission, data, practices, check, facebook, competition, know, tech, european, crackdown, eu, google


If you want to know what a US tech crackdown may look like, check out what Europe did

European Competition Commissioner Margrethe Vestager speaks during a news conference at the EU Commission headquarters in Brussels, April 15, 2015. Francois Lenoir | Reuters

Europe has made its name as the top cop of tech regulation. The European Commission, the executive arm of the European Union, has imposed a combined $9.5 billion in antitrust fines against Google since 2017, and its boss hints Amazon and Apple might be next in line. Facebook, meanwhile, has been subject to probes from competition and data protection authorities across the EU since the region’s strict new set of privacy rules called the General Data Protection Regulation (GDPR) went into effect last year. As U.S. regulators and lawmakers step up their efforts to reign in big tech companies, Europe offers some valuable lessons. “You’ve seen a lot of proxy wars go on here because of the nature of the fact that we’ve got one Europe-wide regulator for antitrust, and the laws are clear, and that regulator definitely has teeth,” Mark MacGann, Uber’s former head of public policy in Europe and founder of venture capital and advisory firm Moonshot Ventures, told CNBC in an interview.

When it comes to enforcement, the European Commission has opted for fines and mandates for tech companies to their change in business practices, rather than arguing to break them up, said John Cassels, a partner who specializes in competition law at European firm Fieldfisher, in an interview. This tactic could put Europe’s approach at odds with some U.S. lawmakers touting strong rhetoric about dismantling big tech companies. The EU’s fines have done little to dent any tech companies’ profits. “The Commission looked like it was going to go as far as some sort of break-up but actually it’s sort of shied away from that recently,” Cassels said. Here’s how Google, Facebook, Amazon and Apple have fared among EU regulators so far.

Google

Alphabet subsidiary Google has faced the toughest antitrust action. In March, the European Commission levied a $1.7 billion fine on the tech giant for abusing its dominance in the online advertising market, citing “illegal” practices of restricting competitors’ ads in search results. Google said this week it is appealing.

The fine marked the third consecutive year of antitrust rulings on Google from the EU. In 2018, the regulator charged Google with a record $5.1 billion fine for anti-competitive practices on its Android devices, saying the company had forced device makers to pre-install its own apps. Analysts at Evercore ISI wrote in note last week they expect the U.S. Department of Justice could take cues from this specific case, which forced Google to offer browser and search-app alternatives on Android devices. “We believe this could be an area where US investigators take a much closer look then previously, given the now far greater importance of the mobile ecosystem vs 2011,” the Evercore analysts wrote. The European Commission first went after Google in 2017 with a $2.7 billion fine for abusing its dominance as a search engine. The EU accused Google of favoring its own comparison shopping service over competitors’ in search results.

Legal experts said the 2017 findings, which were released after a nearly seven-year investigation, could also serve as a guide for antitrust action in the U.S. when it comes to Google’s search practices. But they also cautioned it’s easier to prove market dominance under EU legal standards than in the U.S. “In the U.S. the thresholds are higher and the FTC and DOJ are sort of put to the test by courts,” Fieldfisher’s Cassels said.

Facebook

Facebook’s EU headquarters is in Ireland, and the social media giant is facing several inquiries from the Data Protection Commission there. The complaints range from Facebook failing to provide access to personal data to how the company targets ads on its platform. “You’re going to see a lot of decisions over the coming months by national regulators in Europe especially in Ireland,” MacGann said.

Experts also point to the findings of a three-year long investigation of Facebook by Germany’s antitrust watchdog, which could serve as a guide for a possible FTC investigation because it tackles both data collection and monopoly concerns. In February, the German regulator found Facebook had abused its market dominance in the way it collects, merges and uses user data across its platforms, including WhatsApp and Instagram. It ordered the company to stop merging data on separate apps without users’ deliberate consent. Facebook appealed the order.

Amazon

Germany’s antitrust watchdog is also investigating Amazon. At stake is whether the retail giant prevents fair competition in its online marketplace in the country. The regulator cited “numerous complaints” it had received from sellers about Amazon’s business practices. Amazon’s role in e-commerce has prompted recent probes by national competition authorities in Austria and Italy, too. In the case of Italy, regulators singled out Amazon’s practices in both online retailing and logistics. Amazon has said it is fully cooperating with authorities. Meanwhile Margrethe Vestager, the head of competition policy in Europe, told CNBC in April the EU’s investigation of Amazon is in an “advanced” stage. The European Commission is examining whether Amazon is taking advantage of merchants’ data.

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. Subscribe: By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

Apple


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, antitrust, look, europe, commission, data, practices, check, facebook, competition, know, tech, european, crackdown, eu, google


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

We don’t believe US on Huawei, but we’re still working with other firms, says Russian mobile giant

Russia’s top mobile operator MTS defended its decision to allow China’s Huawei to build out its 5G networks but will continue to work with other firms, the company’s CEO said Friday. The statement directly contracts warnings from U.S. officials that Huawei’s 5G software and equipment poses a national security threat. Kornya added MTS is also working with Sweden’s Ericsson and Finland’s Nokia on 5G technology saying “all three major vendors are represented in our network.” Huawei is the world’s l


Russia’s top mobile operator MTS defended its decision to allow China’s Huawei to build out its 5G networks but will continue to work with other firms, the company’s CEO said Friday. The statement directly contracts warnings from U.S. officials that Huawei’s 5G software and equipment poses a national security threat. Kornya added MTS is also working with Sweden’s Ericsson and Finland’s Nokia on 5G technology saying “all three major vendors are represented in our network.” Huawei is the world’s l
We don’t believe US on Huawei, but we’re still working with other firms, says Russian mobile giant Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, equipment, qualified, firms, 5g, dont, believe, russias, mts, huawei, vendors, kornya, giant, networks, mobile, nokia, working, russian


We don't believe US on Huawei, but we're still working with other firms, says Russian mobile giant

Russia’s top mobile operator MTS defended its decision to allow China’s Huawei to build out its 5G networks but will continue to work with other firms, the company’s CEO said Friday.

In an interview with CNBC’s Geoff Cutmore at the St Petersburg International Economic Forum (SPIEF), MTS CEO Alexey Kornya said Huawei is “fully qualified” to provide infrastructure for Russia’s next-generation wireless networks. The statement directly contracts warnings from U.S. officials that Huawei’s 5G software and equipment poses a national security threat.

“Every country has its own right and capabilities to identify whether that or different types of the equipment represent certain concerns,” Kornya said. “In this sense Huawei is fully qualified to be in our networks.”

Kornya added MTS is also working with Sweden’s Ericsson and Finland’s Nokia on 5G technology saying “all three major vendors are represented in our network.” Huawei is the world’s largest provider of telecommunications equipment, followed by Nokia and Ericsson, according to research firm Dell’Oro Group.

“In business thinking you always balance between vendors and you don’t want to fall into dependency from one vendor,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, equipment, qualified, firms, 5g, dont, believe, russias, mts, huawei, vendors, kornya, giant, networks, mobile, nokia, working, russian


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Google appeals $1.7 billion EU antitrust fine over ‘illegal’ advertising practices

European Union Competition Commissioner Margrethe Vestager gives a joint press at the EU headquarters in Brussels on July 18, 2018. -Google has appealed a $1.7 billion fine from the European Commission for stifling competition in the online advertising industry, the company said Wednesday. In March, the executive arm of the European Union slapped Google with its third antitrust fine, this time for abusing its dominance in the online advertising market through its AdSense business. The EU said Go


European Union Competition Commissioner Margrethe Vestager gives a joint press at the EU headquarters in Brussels on July 18, 2018. -Google has appealed a $1.7 billion fine from the European Commission for stifling competition in the online advertising industry, the company said Wednesday. In March, the executive arm of the European Union slapped Google with its third antitrust fine, this time for abusing its dominance in the online advertising market through its AdSense business. The EU said Go
Google appeals $1.7 billion EU antitrust fine over ‘illegal’ advertising practices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: elizabeth schulze
Keywords: news, cnbc, companies, practices, eu, court, fine, advertising, competition, google, union, commission, european, antitrust, billion, appeals, online, 17, illegal


Google appeals $1.7 billion EU antitrust fine over 'illegal' advertising practices

European Union Competition Commissioner Margrethe Vestager gives a joint press at the EU headquarters in Brussels on July 18, 2018. –

Google has appealed a $1.7 billion fine from the European Commission for stifling competition in the online advertising industry, the company said Wednesday.

In March, the executive arm of the European Union slapped Google with its third antitrust fine, this time for abusing its dominance in the online advertising market through its AdSense business. The EU said Google’s practice of restricting online search advertisements from competitors was “illegal” under the bloc’s antitrust rules.

The Telegraph first reported that Google had filed an appeal for the latest fine in the General Court of the European Union in Brussels on Tuesday. Google confirmed the action in an email to CNBC Wednesday.

A European Commission spokesperson told CNBC: “The Commission will defend its decision in Court.”


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: elizabeth schulze
Keywords: news, cnbc, companies, practices, eu, court, fine, advertising, competition, google, union, commission, european, antitrust, billion, appeals, online, 17, illegal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tencent’s biggest shareholder says Chinese tech has been a ‘bloodbath’ — but the future looks bright

Tencent’s biggest shareholder is bullish on Chinese tech stocks despite the trade war between the U.S. and China. Naspers, a South African internet and media company, owns a 31% stake in Chinese tech giant Tencent. In an interview at the Money20/20 Europe conference on Monday, Naspers CEO Bob van Dijk said tech stocks in China, including Tencent, have fallen victim to the trade war between the world’s two biggest economies. “The China tech stock scene has been a bloodbath in the last few months,


Tencent’s biggest shareholder is bullish on Chinese tech stocks despite the trade war between the U.S. and China. Naspers, a South African internet and media company, owns a 31% stake in Chinese tech giant Tencent. In an interview at the Money20/20 Europe conference on Monday, Naspers CEO Bob van Dijk said tech stocks in China, including Tencent, have fallen victim to the trade war between the world’s two biggest economies. “The China tech stock scene has been a bloodbath in the last few months,
Tencent’s biggest shareholder says Chinese tech has been a ‘bloodbath’ — but the future looks bright Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: elizabeth schulze
Keywords: news, cnbc, companies, chinese, bright, tech, tencent, stocks, biggest, trade, china, war, future, good, think, tencents, bloodbath, shareholder, looks


Tencent's biggest shareholder says Chinese tech has been a 'bloodbath' — but the future looks bright

Tencent’s biggest shareholder is bullish on Chinese tech stocks despite the trade war between the U.S. and China.

Naspers, a South African internet and media company, owns a 31% stake in Chinese tech giant Tencent. In an interview at the Money20/20 Europe conference on Monday, Naspers CEO Bob van Dijk said tech stocks in China, including Tencent, have fallen victim to the trade war between the world’s two biggest economies.

But, he added, the fundamentals of China’s economy remain “very, very strong.”

“The China tech stock scene has been a bloodbath in the last few months,” he said. “I think it has everything to do with trade tensions and that affects everybody. It’s not good, it’s not good for anybody, but in the end if you take a 10-year view, which is what we typically do, the market is there, the innovation is there, so I think the long-term future is bright.”


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: elizabeth schulze
Keywords: news, cnbc, companies, chinese, bright, tech, tencent, stocks, biggest, trade, china, war, future, good, think, tencents, bloodbath, shareholder, looks


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Alipay has tripled its merchants in Europe amid ‘booming’ Chinese tourism market

Alipay is making big inroads in Europe as Chinese tourists flock to the region, according to the leader of the Chinese firm’s European division. Roland Palmer, head of Europe for Alipay, told CNBC on Tuesday the company has tripled the number of European merchants accepting its online and mobile payment platform to “tens of thousands” in the past year. “We’re talking about tens of thousands of merchants who are really excited about the opportunity that Alipay provides them to tap into those weal


Alipay is making big inroads in Europe as Chinese tourists flock to the region, according to the leader of the Chinese firm’s European division. Roland Palmer, head of Europe for Alipay, told CNBC on Tuesday the company has tripled the number of European merchants accepting its online and mobile payment platform to “tens of thousands” in the past year. “We’re talking about tens of thousands of merchants who are really excited about the opportunity that Alipay provides them to tap into those weal
Alipay has tripled its merchants in Europe amid ‘booming’ Chinese tourism market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: elizabeth schulze
Keywords: news, cnbc, companies, chinese, thousands, booming, palmer, market, merchants, tourism, alipay, tens, tripled, amid, world, europe, european, yearwere


Alipay has tripled its merchants in Europe amid 'booming' Chinese tourism market

Alipay is making big inroads in Europe as Chinese tourists flock to the region, according to the leader of the Chinese firm’s European division.

Roland Palmer, head of Europe for Alipay, told CNBC on Tuesday the company has tripled the number of European merchants accepting its online and mobile payment platform to “tens of thousands” in the past year.

“We’re talking about tens of thousands of merchants who are really excited about the opportunity that Alipay provides them to tap into those wealthy and middle class consumers who are traveling to see the world and want to buy great brands from Europe,” Palmer said in an interview from the Money20/20 Europe conference in Amsterdam.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: elizabeth schulze
Keywords: news, cnbc, companies, chinese, thousands, booming, palmer, market, merchants, tourism, alipay, tens, tripled, amid, world, europe, european, yearwere


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The hot trend in smartphones? Not buying a new one

Samsung , the world’s largest smartphone maker by shipment volume, earlier this year introduced the Galaxy Fold — a nearly $2,000 foldable smartphone that ran into early issues, which delayed its commercial release . Chinese phone maker Huawei, for its part, also announced a foldable phone that will cost around $2,600 . “Phones are supposed to be for calling, for texting and for being connected with the world,” a user in London said about her expectations for smartphones. When mobile phones firs


Samsung , the world’s largest smartphone maker by shipment volume, earlier this year introduced the Galaxy Fold — a nearly $2,000 foldable smartphone that ran into early issues, which delayed its commercial release . Chinese phone maker Huawei, for its part, also announced a foldable phone that will cost around $2,600 . “Phones are supposed to be for calling, for texting and for being connected with the world,” a user in London said about her expectations for smartphones. When mobile phones firs
The hot trend in smartphones? Not buying a new one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: saheli roy choudhury arjun kharpal elizabeth schul, saheli roy choudhury, arjun kharpal, elizabeth schulze
Keywords: news, cnbc, companies, phone, phones, 5g, smartphone, london, internet, mobile, buying, hot, smartphones, trend, user, world, foldable


The hot trend in smartphones? Not buying a new one

Samsung , the world’s largest smartphone maker by shipment volume, earlier this year introduced the Galaxy Fold — a nearly $2,000 foldable smartphone that ran into early issues, which delayed its commercial release . Chinese phone maker Huawei, for its part, also announced a foldable phone that will cost around $2,600 .

But those flashy new features may not be enough to sway people to trade in their old phones immediately, as long as they’re in good condition.

The smartphone industry has a two-part plan to tackle a global slowdown in sales: sell a pricey new type of mobile device that is able to transform into a tablet, and promote phones that can support super high-speed mobile internet standard 5G.

CNBC’s “Beyond The Valley ” caught up with people on the streets of London, Singapore and Guangzhou, China to ask what they thought of foldable smartphones and the responses were not positive:

“It looks very strange,” according to a smartphone user in Guangzhou.

“It’s super bulky,” said a user in Singapore.

“Phones are supposed to be for calling, for texting and for being connected with the world,” a user in London said about her expectations for smartphones. “I don’t think that I really need to pay that much to have this because I can pay a lot less and still be satisfied.”

Market research firm International Data Corporation said that smartphone shipment volumes for the first quarter of 2019 fell 6.6% on-year after a 4.9% year-over-year decline in the fourth quarter of 2018.

Ben Wood, chief of research at CCS Insight, explained that all smartphone makers face “one over-arching problem” at the moment — their devices look pretty much the same and they have similar functionality. When mobile phones first came out, there was tremendous innovation both in hardware and software, but that’s not now the case, according to Wood.

“The marginal gains over the different generation of products started to slow down,” he added.

Smartphone makers are also betting on super-fast internet as an incentive to get more people to switch their existing devices for new ones that can support the so-called 5G mobile internet.

South Korea’s three mobile carriers as well as Verizon in the U.S. commercially launched their 5G services last month while other countries like China and Japan are racing to launch their own versions of the nascent technology. Still, widespread adoption of 5G will take time since most of the infrastructure around the world is still being built.

But there’s some enthusiasm among potential customers of 5G phones.

A user in Guangzhou said he would buy a 5G phone because it is “trendy” but it also has a “better internet system” that would let him do more, including video streaming.

“It just makes everything easier for us, like social media, streaming Netflix and stuff,” another user in London said.


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: saheli roy choudhury arjun kharpal elizabeth schul, saheli roy choudhury, arjun kharpal, elizabeth schulze
Keywords: news, cnbc, companies, phone, phones, 5g, smartphone, london, internet, mobile, buying, hot, smartphones, trend, user, world, foldable


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

$5 billion fine is a ‘bargain’ for Facebook, top US senators say

Facebook founder and CEO Mark Zuckerberg arrives to testify following a break during a Senate Commerce, Science and Transportation Committee and Senate Judiciary Committee joint hearing about Facebook on Capitol Hill in Washington, DC. Facebook’s expected settlement of between $3 billion to $5 billion with the Federal Trade Commission (FTC) is a “bargain” that does not go far enough in holding the social media company accountable, two top U.S. senators said in a letter Monday. ), both members of


Facebook founder and CEO Mark Zuckerberg arrives to testify following a break during a Senate Commerce, Science and Transportation Committee and Senate Judiciary Committee joint hearing about Facebook on Capitol Hill in Washington, DC. Facebook’s expected settlement of between $3 billion to $5 billion with the Federal Trade Commission (FTC) is a “bargain” that does not go far enough in holding the social media company accountable, two top U.S. senators said in a letter Monday. ), both members of
$5 billion fine is a ‘bargain’ for Facebook, top US senators say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, accountable, committee, letter, bargain, senators, billion, say, senate, fine, judiciary, ftc, company, facebook


$5 billion fine is a 'bargain' for Facebook, top US senators say

Facebook founder and CEO Mark Zuckerberg arrives to testify following a break during a Senate Commerce, Science and Transportation Committee and Senate Judiciary Committee joint hearing about Facebook on Capitol Hill in Washington, DC.

Facebook’s expected settlement of between $3 billion to $5 billion with the Federal Trade Commission (FTC) is a “bargain” that does not go far enough in holding the social media company accountable, two top U.S. senators said in a letter Monday.

Sen. Richard Blumenthal (D-Conn.) and Sen. Josh Hawley (R-Mo.), both members of the Senate Judiciary Committee, criticized the FTC’s investigation of Facebook, saying it’s time for the agency to learn from “a history of broken and under-enforced consent orders.” The bipartisan letter puts additional pressure on the regulator as it weighs steps to punish Facebook for mishandling users’ personal information.

“The public is rightly asking whether Facebook is too big to be held accountable,” the senators wrote. “The FTC must set a resounding precedent that is heard by Facebook and any other tech company that disregards the law in a rapacious quest for growth.”


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, accountable, committee, letter, bargain, senators, billion, say, senate, fine, judiciary, ftc, company, facebook


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Investor group demands changes to Uber’s board ahead of IPO

Investor group CtW demanded changes to Uber’s board of directors ahead of the ride-hailing company’s anticipated IPO, saying on Wednesday its governance “falls short of best practices.” In a letter addressed to Uber Chairman Ronald Sugar, CtW called for the removal of former Merrill Lynch executive John Thain from Uber’s board, citing his “reputation of poor business judgement on financial matters.” The group also said Uber’s board members, including its chairman, should reduce their outside com


Investor group CtW demanded changes to Uber’s board of directors ahead of the ride-hailing company’s anticipated IPO, saying on Wednesday its governance “falls short of best practices.” In a letter addressed to Uber Chairman Ronald Sugar, CtW called for the removal of former Merrill Lynch executive John Thain from Uber’s board, citing his “reputation of poor business judgement on financial matters.” The group also said Uber’s board members, including its chairman, should reduce their outside com
Investor group demands changes to Uber’s board ahead of IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: elizabeth schulze
Keywords: news, cnbc, companies, thain, ctw, ipo, group, changes, uber, board, merrill, demands, lynch, letter, ubers, investor, ahead


Investor group demands changes to Uber's board ahead of IPO

Investor group CtW demanded changes to Uber’s board of directors ahead of the ride-hailing company’s anticipated IPO, saying on Wednesday its governance “falls short of best practices.”

In a letter addressed to Uber Chairman Ronald Sugar, CtW called for the removal of former Merrill Lynch executive John Thain from Uber’s board, citing his “reputation of poor business judgement on financial matters.” The group also said Uber’s board members, including its chairman, should reduce their outside commitments ahead of the firm’s expected IPO on the New York Stock Exchange in coming weeks.

CtW is a union-affiliated pension fund adviser with more than $250 billion in assets under management. The group has previously scrutinized the board practices of companies like Tesla and said in the letter its funds intend to become “substantial” Uber shareholders.

The group was highly critical of Thain, who leads Uber’s Audit Committee. CtW referenced the former Merrill Lynch chief executive’s “close relationship” with Uber CFO Nelson Chai, who worked under Thain at NYSE, Merrill Lynch and CIT Group.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: elizabeth schulze
Keywords: news, cnbc, companies, thain, ctw, ipo, group, changes, uber, board, merrill, demands, lynch, letter, ubers, investor, ahead


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post