Facebook scandal: customer data apparently also passed on to Apple, Microsoft & Co.

facebook

There are again allegations against Facebook, which could set the debate on data security on fire again: Many other technology companies should have access to user data.

Facebook , on its way to becoming the dominant social network – even before Facebook apps were available – apparently concluded special agreements with up to 60 device manufacturers, a report by the New York Times revealed. The partnerships now raise concerns about the security of customer data.

Cooperation in order to increase reach?

Since 2007, the re-exposed social network is said to have allowed access to Facebook data by handset manufacturers. The agreements with technology companies such as Samsung , Apple , BlackBerry , Microsoftand Co. should – according to the “New York Times” – Facebook users have made it possible to use popular features such as news and the “Like” button on their devices, even before an app for the social network could be installed.

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Turbulent Facebook Annual General Meeting after data scandal

facebook annual meeting 2018The aftermath of the Facebook data scandal has led to a more turbulent general meeting of the world’s largest online network this year.

A woman had to leave the hall because she demanded in interjections, founder and boss Mark Zuckerberg to refuse re-election to the Board.
Another shareholder called for the elimination of the more-voting shares that would secure Zuckerberg’s control of the company. With the current power situation threatens Facebook , to become an “entrepreneurial dictatorship”, he warned on Thursday.

There was also direct criticism of the outflow of information from millions of Facebook users to Cambridge Analytica, which had triggered the current data scandal. A representative of investor NorthStar Asset Management said it violated human rights. She argued that the data scandal had only become possible because the CEO could put together a board of directors to his liking. Boards of directors in US companies have even more far-reaching powers than the German supervisory boards and also determine the strategy in addition to the usual control functions.

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US labor market in May slightly stronger than expected

us job marketEmployment in the US recovered slightly more than expected in May, while the unemployment rate fell unexpectedly and hourly wages increased more than expected.

According to the Ministry of Labor, 223,000 additional jobs were created outside agriculture. The economists interviewed by Dow Jones Newswires had expected a job growth of 190,000.

The figures for the two previous months were also cumulatively revised upwards by 15,000 jobs: The ministry reported a job increase of 159,000 for April (provisionally: 164,000) and an increase of 155,000 (135,000) for March.

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Euro price falls after strong US data – francs are also down

Euro-USD_1

The euro’s price fell against the US dollar on Friday, as did the Swiss franc. Better than expected economic data from the USA pushed the euro’s course in the afternoon business down to a daily low of 1.1617 US dollars. In comparison, the euro was recently traded slightly higher in New York at $ 1.1663. The European Central Bank (ECB) had set the reference rate at 1.1669 (Thursday: 1.1699) dollars.

For the franc, the dollar climbed above the threshold of 0.99 at times. Currently he is still around at 0.9889 francs. The euro has meanwhile set above 1.15 and costs 1.1534 francs.

In May, the number of employees in the United States had surged surprisingly high. The unemployment rate fell to its lowest level since the beginning of the millennium. “Partylaune on the job market,” commented expert Christiane von Berg of the BayernLB the data.

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EU wants to respond to US punitive tariffs – worried about escalation

us euro trade warThe US-imposed punitive tariffs on steel and aluminum put the EU in the grip of pressure and raise concerns about a trade war with other products. There are fears that the government of US President Donald Trump, following a retaliatory move from Brussels, will impose higher taxes on additional sectors such as the export-oriented German auto industry. Observers urge prudence: As long as it is all about steel, Europe is comparatively little affected.

US tariffs on imports of steel (25 percent) and aluminum (10 percent) from the EU came into force on Friday morning. Mexico and Canada – the largest steel supplier in the USA – are also among them. All three trading partners of Washington consider this unjustified. The Federal Government assesses the new tariffs as unlawful.

The EU filed suit on Friday against US special tariffs at the World Trade Organization (WTO). “The European Union must clearly represent its interests,” said Foreign Affairs Commissioner Federica Mogherini in Brussels. The request for consultations in the context of a dispute settlement procedure was received, it was said at the WTO in Geneva. In addition, the EU wants to impose additional tariffs on a number of US imports.

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Richemont acquires British watch platform Watchfinder

richemont

The luxury goods company Richemont buys the British watch platform Watchfinder.co.uk.

Founded in 2002, the company buys and sells used premium watches online as well as in seven boutiques. Richemont does not comment on the price of the transaction . However, the acquisition will not exert any “material” influence on the operating result for the financial year 2018/19, Richemont affirms.

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Who are Jeff Bezos’ role models?

amazon-jeff-bezosHe is now the richest person in the world, has a billion-dollar business and is a role model for many young entrepreneurs. But who has Jeff Bezos copied the success?

As part of a panel, the Amazon chief commented on this topic at the Southern Methodist University and named a number of well-known personalities. Continue reading “Who are Jeff Bezos’ role models?”

The Tesla share should not be worth more than a donut, according to an expert

tesla model 3

In the ranks of those who kill the carmaker Tesla dead, mixes a new voice: Chris Macintosh railed against the Tesla share and against Tesla boss Elon Musk. In particular, he focuses on the alleged hero status that Musk enjoys among his followers.

The number of Tesla supporters is large. But the recent adversities, production problems with the hopeful model 3, repeatedly postponed corporate goals and numerous departures from strategically important positions meanwhile provide for uncertainty among Tesla shareholders. Over the past six months, the Tesla share has lost more than 12 percent on the US stock exchange, even though the price has stabilized somewhat since its lows in early April. But the signs are increasing that even among Tesla’s most faithful followers patience is finally.

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Italian stocks lose tailwind after Populist out

italy populistThe initial tailwind for the Italian stock market through the surprise ending for the Euro-critical five-star movement and the rightwing Lega party was quickly lost on Monday morning.

After initial price gains of 2% on the FTSE MIB, the Italian leading index was only just over 0.09% higher at 22 417.98 points.

In view of the rashes in the market, the two populist forces were referred to a failure of the formation of a government for the time being. Their joint candidate for the Prime Minister, Giuseppe Conte, had returned on Sunday after just four days, the government contract to President Sergio Mattarella. The reason for this was mainly the dispute over the planned appointment of a designated Euro and Germany critic to the Minister of Finance.

Initially, relief started to spread on the market after the conflict potential with the EU resulting from the coalition plans on the capital markets had recently caused uncertainty. However, investors’ euphoria quickly faded as the perception that the government-building process remains a potential source of anxiety in the context of expected new elections persisted.

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Apple misses promising trend and loses a lot of money

aplpe music

The biggest and most promising trend in the software industry seems banal at first sight: the subscription. Neglecting the trend, however, there is a lot of money to lose – the tech giant Apple.

Apple is already successfully building its subscription structure with products such as Apple Music or iCloud and has thus achieved 53 percent growth in the service sector over the last two years. For comparison, the iPhone sales increased in the same period by only 16 percent. Nevertheless, the group has not yet jumped on the subscription train and thereby loses billions of dollars.

With the launch of Apple Music three years ago, the tech giant took another step in the right direction. As a counter model to the previous purchase of individual songs and entire albums on iTunes, the new subscription structure – endless streaming for a small monthly contribution. Apple also offers the additional iCloud storage space for a monthly amount of up to $ 10.

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