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New Facebook Stock Class to Keep Zuckerberg in Driver's Seat
April 29, 2016
Facebook on Wednesday announced its board of directors is proposing a new class of shares that will allow its founder to pursue a number of different initiatives while maintaining long-term control over the company. The news came on the heels of a blockbuster first quarter earnings report. The plan calls for Facebook to offer non-voting Class C capital stock, which will allow CEO Mark Zuckerberg to pursue his long-term vision.
Getty Images Takes Google Grievances to EU
April 29, 2016
Getty Images on Wednesday filed a competition law complaint against Google with the European Commission. The company last year filed an "interested third party" submission in support of the EC's investigation into Google's anticompetitive business practices. Getty's complaint, in essence, is that Google Images facilitates piracy of high-res copyrighted content.
Yahoo Expands Board to Appease Contentious Investor
April 28, 2016
Yahoo on Wednesday announced that it has reached a deal with Starboard Value to add four independent directors, thus avoiding a proxy fight with a key investor that has been seeking radical changes at the company. Under the agreement, Starboard CEO Jeff Smith will join Yahoo as an independent director and will be a member of the company's Strategic Review Committee.
Wall Street Pummels Apple After Weak Q2 Earnings Report
April 28, 2016
Apple shares were trading at around $95 as of mid-day Thursday in the wake of the company's disappointing Q2 earnings report. That was even lower than Wednesday's opening price, which was down more than $8 from Tuesday's $104.35 at market close. The company's second-quarter performance was dismal. The iPhone recorded its first drop in sales -- to 51.2 million units, down from 61.2 million in the year-ago quarter.
FBI Says Its Hands Are Tied on Revealing iPhone Crack Details
April 28, 2016
The FBI on Wednesday confirmed its decision not to inform Apple of how it hacked into the encrypted iPhone used in last December's San Bernardino terrorist attack. The bureau was investigating the possibility that deceased shooters Syed Farook, who used the iPhone, and his wife may have had links to other terrorist plots. It also was searching for evidence tying the two to ISIS.
Nokia Buys Into Digital Health
April 28, 2016
Nokia on Tuesday announced plans to purchase Withings for $192 million in cash as part of its move into the healthcare devices arena. The deal is expected to close in early Q3, and Withings will become part of the Nokia Technologies business. "We have said consistently that digital health was an area of strategic interest to Nokia," CEO Rajeev Suri said.
IT Execs Join Federal Cybersecurity Panel
April 28, 2016
Key components of the Obama administration's multipronged cybersecurity initiative keep falling into place. One of the most recent developments was the formation of a federal Commission on Enhancing National Cybersecurity. Another was the formal introduction in Congress of the administration's information technology investment plan, which is heavily tilted toward cybersecurity protection.
Tech, Auto Honchos Join Forces to Push Self-Driving Cars
April 27, 2016
Some major players in both the new and old economies on Tuesday announced an alliance to pave the way for self-driving cars in America. Ford, Google, Lyft, Uber and Volvo raised the curtain on their Self-Driving Coalition for Safer Streets, which will work with lawmakers, regulators and the public to raise awareness of the safety and societal benefits of self-driving vehicles.
Regulators Impose Caveats on Charter TWC Merger Approval
April 27, 2016
Federal regulators on Monday approved Charter Communications' $78 billion merger with Time Warner Cable and its $10.4 billion acquisition of Bright House Networks, but with a number of tough conditions. The Justice Department filed a settlement agreement to block the new company from enforcing any deal that makes it harder for online video distributors to get video content from programmers.
Google's 'Area 120' Incubator Aims to Keep Innovation In-House
April 26, 2016
Google has been working on an incubator that would let employees pitch business plans and work full time on approved projects while remaining on its payroll, according to news reports published this week. The incubator, to be called "Area 120," will be led by Don Harrison, VP of corporate development, and Bradley Horowitz, VP of streams, photos and sharing.
Apple's Q2 Report Expected to Be Light on Good News
April 26, 2016
Apple shares closed at $105.08 Monday -- down 60 cents -- as the market steeled itself for what's expected to be a gloomy quarterly earnings call on Tuesday. Apple will underperform the smartphone industry and become the only global top-five brand to see shipments decline in 2016, predicted Ming-Chi Kuo, a KGI Securities analyst who previously has made several accurate calls on the company.
BMW, Daimler Steer Clear of Apple Car Project
April 25, 2016
BMW and Daimler have broken off talks about forming a partnership with Apple to develop an electric car, according to news reports published last week. Discussions stalled over issues that included which company would take the lead on the project and which would have ownership of the data. Apple apparently sought to develop a vehicle that would be integrated closely with its cloud-based software.
Apple's Books, Movies Fall Victim to Chinese Crackdown
April 25, 2016
The Chinese government ordered Apple to shut down its iBooks and iTunes Movies services in the country, according to news reports published last week. China's State Administration of Press, Publication, Radio, Film and Television reportedly called for the closure. The government in February announced a policy banning all foreign media from publishing in China without direct approval.
Unicorn Herd Threatens Silicon Valley, Warns VC
April 23, 2016
The age of Unicorn investing has led to alarming overvaluations of startups that could result in an afterparty roll call not seen since 1999, Silicon Valley VC Bill Gurley warned Thursday. Gurley, a general partner at Benchmark, raised a red flag over the large number of tech startups valued at more than $1 billion, and suggested that the rise of Unicorn fundraising has put the financial health of the industry at risk.
Volkswagen Agrees to Fix or Buy Back Dirty Diesel Cars
April 22, 2016
Volkswagen has reached an agreement to repair or replace about 500,000 diesel cars in the U.S., according to court documents released Thursday. The cars were equipped with software designed to deceive emissions tests. Under the agreement, announced Thursday in U.S. District Court in San Francisco, Volkswagen will pay back an undetermined amount of money to owners of the affected vehicles.
Intel Pivots From PCs to Cloud
April 22, 2016
Intel this week announced that it would slash 12,000 jobs as part of a restructuring plan to focus more on cloud-based computing and the Internet of Things and less on PCs. The cuts, which will involve about 11 percent of Intel's global workforce, will be achieved through voluntary retirements and layoffs, the consolidation of job sites, and a re-evaluation of existing and planned programs.
EFF Sues DoJ Over Secret Data Decryption Requests
April 22, 2016
The EFF has filed suit against the Justice Department seeking to learn whether the federal government secretly ordered technology companies to decrypt the private communications of their customers. Such orders could place millions of customers in harm's way, the complaint says. The suit seeks the release of records originally requested last fall under the Freedom of Information Act.
Insurance Industry Buzzes Over Data Breach Ruling
April 21, 2016
If the rash of data breaches in recent months has done anything for businesses, it's raised their awareness of cyber liability insurance. The market for cyber liability insurance is expected to increase dramatically as businesses become more aware that their current policies don't adequately cover cyber-risks, according to the National Association of Insurance Commissioners.
Apple to Lawmakers: We'll Help but No Backdoors
April 21, 2016
Apple's top legal official on Tuesday appeared before the U.S. House Energy and Commerce Committee and reiterated the company's willingness to help law enforcement on active cases and cooperate on long-term solutions, despite its contentious legal battle with the FBI over the encrypted iPhone used in the San Bernardino terrorist attack. Apple works daily with law enforcement on a number of cases.
Apple Snags Hotshot Engineer, Former Tesla VP, for Project Titan
April 20, 2016
Apple has hired Chris Porritt, Tesla Motors' former vice president of vehicle engineering, to work on special projects, according to news reports published Tuesday. Porritt, who left Tesla last year, is expected to take charge of Apple's electric car initiative, Project Titan. He reportedly was given the purposefully vague title of "special projects group PD administrator."
EU Levels Antitrust Charges Against Abusive Android
April 20, 2016
The European Commission has charged that Google breached EU antitrust rules by seeking to maintain and expand the dominance of its Android operating system. "A competitive mobile Internet sector is increasingly important for consumers and businesses in Europe," said the EC's antitrust chief, Margrethe Vestager. "We believe that Google's behavior denies consumers a wider choice of mobile apps."
White House Call for Set-Top Competition Strikes Nerves
April 20, 2016
The Obama administration last week called on the Federal Communications Commission to open the cable TV set-top box market to competition. Doing so would let companies create innovative, high-quality and low-cost products, the White House said. "American families will have options to own a device for much less money that will integrate everything they want," wrote Jason Furman and Jeffrey Zients.
Journalist Gets 2-Years in Prison for Aiding Anonymous Prank
April 19, 2016
A U.S. District Court judge last week sentenced Matthew Keys to two years in prison after he was found guilty of conspiring with the hacker group Anonymous to break into the Los Angeles Times' website and modify a news story. Keys had been site administrator for KTXL Fox 40, which was owned by Tribune, the same company that owned the Times.
SCOTUS Turns Its Back on Google Books Challenge
April 19, 2016
The Supreme Court has declined to hear a petition to review a lower court decision allowing Google to scan and publish excerpts of copyright-protected books without seeking permission from the authors or paying them. The petition, filed at the end of last year, was the latest move in the Guild's decade-long war with Google, which has said that its searchable digital books database is fair use.
Verizon Strikers Highlight Lost Jobs, Broken Promises
April 15, 2016
An army of 39,000 workers this week went on strike against Verizon in one of the biggest labor actions in the U.S. in several years. Fast food workers have joined in a show of support, and both Democratic candidates for president have entered the fray. Thousands of wireline workers from Massachusetts to Virginia walked off the job at 6 a.m. Wednesday morning.
Chatbots Drive Shopify's Kit CRM Deal
April 15, 2016
Shopify on Wednesday announced that it has agreed to purchase Kit CRM, whose Kit chatbot automatically sends out marketing text messages for online stores. It also lets businesses run targeted ads on Facebook and Instagram, make recommendations based on store activities, post on social media and use functionality provided by other social media apps, Shopify CMO Craig Miller said.
Microsoft Sues DoJ Over Spying Gag Orders
April 15, 2016
Microsoft on Thursday filed suit against the U.S. Department of Justice challenging the gag orders that accompany requests to access customers' private emails and other data. The orders prevent the company from notifying affected customers about the government's demands. The case is the fourth public lawsuit it has filed against the Justice Department in three years.
E2E Encryption Could Make WhatsApp a Spam Magnet
April 15, 2016
Facebook's WhatsApp last week announced it would roll out end-to-end encryption for its users, but the move could make the service more attractive to spammers. While encryption can safeguard information from data thieves, it also can block data protectors. The policy "will not stop the growth of spam on the platform and could make the problem worse," AdaptiveMobile's Simeon Coney said.
FBI Paid Hackers to Defeat Security of Shooter's iPhone
April 14, 2016
The FBI paid hackers to break onto the iPhone of the San Bernardino, California, shooter, according to a news report published Tuesday. The bureau obtained the services of gray hats, insiders said, and apparently did not get help from Cellebrite, as earlier reports had suggested. Gray hats are hackers who sell flaws to governments or companies that make surveillance tools.
ESPN Adds Drone Racing to Its Summer Schedule
April 14, 2016
The International Drone Racing Association and ESPN on Wednesday announced a multiyear international media distribution deal. Under the partnership, the network will showcase the 2016 U.S. National Drone Racing Championships, which will be held on Governors Island in New York City this summer. The national championships and the 2016 World Drone Racing Championships will be streamed live on ESPN3.
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What best reflects your opinion on online privacy?
We need new laws to curb government spying.
It's dead -- Google, Facebook and others killed it.
Personalized advertising is the worst -- it's creepy.
It's achievable through encryption and other tech.
It's an overblown issue -- I have nothing to hide.