2019-08-12 07:30:00 Mon ET
technology antitrust competition bilateral trade free trade fair trade trade agreement trade surplus trade deficit multilateralism neoliberalism world trade organization regulation public utility current account compliance
Facebook reaches a $5 billion settlement with the Federal Trade Commission over Cambridge Analytica user privacy violations. The Federal Trade Commission (FTC) probes into prevalent user privacy practices across the social media ecosystem of Facebook, Messenger, Instagram, and WhatsApp etc. FTC commissioners break along party lines, 3-to-2, as the GOP majority votes line up to support the $5 billion settlement (whereas Democratic commissioners object this pact). This punitive fine is the single largest one against a tech titan by FTC to date, but some progressive lawmakers remain furious primarily due to the key controversial inadequacy of FTC curtailing future data leaks and breaches of the same sort of Cambridge Analytica.
The Cambridge Analytica data debacle may have compromised the personal data for about 87 million Facebook users. FTC requires Facebook to establish a new independent Privacy Committee of directors on the current corporate board. This committee would oversee all necessary audit functions to ensure strict compliance with key FTC consumer privacy rules and best practices. With 53% majority control rights, Facebook CEO Mark Zuckerberg may inadvertently be able to influence the nomination and appointment of independent directors on the Privacy Committee. This core settlement can cause ripple effects on the broader corporate governance structure.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2018-06-04 08:38:00 Monday ET
Microsoft acquires GitHub, a software development platform that has been widely shared-and-used by more than 28 million programmers worldwide. GitHub's
2019-02-15 11:33:00 Friday ET
President Trump is open to extending the March 2019 deadline for raising tariffs on Chinese imports if both sides are close to mutual agreement. These bilat
2017-12-03 08:37:00 Sunday ET
Sean Parker, Napster founder and a former investor in Facebook, has become a "conscientious objector" on Facebook. Parker says Facebook explo
2019-08-16 17:37:00 Friday ET
Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data. The European Commission probes into whether Amazon uses key third-par
2017-11-29 07:42:00 Wednesday ET
The octogenarian billionaire and activist investor Carl Icahn mulls over steps to shake up the board of SandRidge Energy after the oil-and-gas company adopt
2018-01-05 07:37:00 Friday ET
Warren Buffett cleverly points out that American children will not only be better off than their parents, but the former will also enjoy higher living stand