Facebook slapped with historic $5 billion fine over privacy violations

Washington: In a historic judgment, the US Federal Trade Commission (FTC) on Wednesday slapped a massive $5 billion fine on Facebook over users’ privacy violations in the Cambridge Analytica scandal, along with the US Securities and Exchange Commission (SEC) directing the social networking platform to pay $100 million penalty for making misleading disclosures regarding the […]

Steel magnate Lakshmi Mittal’s brother held in Bosnia for suspected fraud

SARAJEVO: Indian industrialist Pramod Mittal, the younger brother of steel magnate Lakshmi Mittal, was arrested Wednesday in Bosnia for suspected fraud and “abuse of power”, a prosecutor said. The case is related to the running of a coking plant in the northeastern town of Lukavac, which Pramod Mittal has co-managed since 2003. It has a […]

Du expects to see revenues drop in second half

Dubai: Telecom operator du said on Wednesday it expected its revenues to continue to decline in the second half of 2019, having already dropped by 5.3 per cent year-on-year in the first half of this year. Osman Sultan, chief executive officer of Emirates Integrated Telecommunications Company (also known as du), said the company is facing […]

EU targets $39b in US goods

London: The European Union raised the stakes in its trade conflict with the US, almost doubling to €35 billion (Dh143.24 billion, $39 billion) the amount of US goods it would hit with retaliatory tariffs should President Donald Trump follow through on a threat to impose duties on EU cars and auto parts. European Trade Commissioner […]

LinkedIn to migrate workload to Microsoft Azure

San Francisco: LinkedIn, which has over 645 million members and 20 million jobs to trade for, is finally moving its entire workload to Microsoft Azure Cloud platform. Microsoft announced its $26.2 billion acquisition of LinkedIn in June 2016 and closed the deal in the same year in December. “With the incredible member and business growth […]