The 5 billion dollar fine would be the largest the US Federal Trade Commission has levied on a technology
13 July, 2019, 10:26
US officials approved a record $5 billion privacysettlement with Facebook Inc.to resolve the Cambridge Analytica data scandal, people said, prompting an immediate outcry from lawmakers and privacy advocates who said it didn't go far enough.
According to the Journal, three Republican commissioners cast their vote for the fine and two Democratic commissioners voted against it, making the FTC ruling likely a partisan decision.
Even though the fine is larger by a factor of 100 than the next-largest FTC penalty for privacy violation, it's also less than a tenth of Facebook's 2018 revenue and a fraction of its $600 billion valuation. Facebook shares climbed 1%, though the amount is more than the company expected.
The settlement still needs to be finalized by the Justice Department's Civil Division and a final announcement could come as early as next week, the source said.
The long-expected punishment, which Facebook is well prepared for, is unlikely to make a dent in the social media giant's deep pockets.
Federer, Williams Looking to Add Records at Wimbledon He said his performance against Nadal in a match that "lived up to the hype" gave him confidence for the final. Federer won his record eighth Wimbledon title in 2017, but lost to Djokovic in the final in both 2014 and 2015.
Amazon to launch new high-quality Echo speaker Amazon typically unveils a handful of devices at its September event, and it's possible we could see either device there. The company also launches individual (generally less-anticipated) products throughout the year.
"It's also clear that we're going to need Congress and the state attorneys general to take the mantle of any future antitrust investigation of Facebook because Trump's FTC appointees are not up to the task", Miller added. A Justice Department spokeswoman declined to comment on the Facebook matter.
The regulator sought to establish whether the disclosures violated a 2012 agreement in which Facebook promised to better protect its users' privacy.
Although details of the settlement with the U.S. Federal Trade Commission weren't announced, the fine is steep but far from devastating for Facebook.
Even a record $5 billion penalty won't be too damaging a dent for Facebook, which made a profit of $22 billion previous year on $56 billion in total revenue, or a profit margin of 45%.
The $5 billion figure may be a record-breaker, but it represents less than Facebook reported in net profit ($5.43 billion) for the first quarter of 2019 alone.
If the reports of the deal are true, and if the settlement is accepted by both sides and approved, Facebook will have to cough up $5bn, which is at the upper end of what the Silicon Valley web giant was expecting.
A flurry of seismic activity in Snohomish County has people on edge after two earthquakes, magnitudes 4.6 and 3.5, shook the area. The state Department of Transportation said the agency would be inspecting bridges , but had no reports of damage.
But he added: "It would be selfish for me to stay in this position and continue talking about a case that's 12 years old". Trump said Acosta had called him to convey his decision and the choice to step down had been Acosta's.
Even after the involvement of the agency, critics remain skeptical towards the security of crypto exchanges. The currency exchange operator initially detected a ripple transaction error at around 10:12 p.m.
The disruption began about 2:46 p.m Eastern Time, according to DownDetector .com, a site that monitors outages on social media. At the time of this article, people worldwide are having trouble accessing their Twitter accounts.
There will also supposedly be both LTE and Wi-Fi models, with the former having a 340mAh battery and the latter a 237mAh cell. The device pictured here is probably the LTE version, as there is a microphone hole visible near the power button.
Drugmaker Merck & Co. dropped 4.5 percent while UnitedHealth climbed 5.5 percent and CVS Health gained 4.7 percent. So as far as drug price rebates go, there will be no change because of this White House reversal.
Analysts at Citi said Ford licensing Volkswagen's MEB platform is a "transformational" step for both companies. They suggest they will share development of a fully electric vehicle that will come to market by 2023.
Hopper is dead, Eleven has lost her powers, and the gang has pretty much split up now that Will and Eleven are gone. There's no word on when Stranger Things 4 will arrive. " Stranger Things 3 " is now streaming on Netflix.
Meteorologists warned that torrential rains - as much as 2 feet (60 cm) in some places - are likely to unleash severe flooding. However, in some areas, the storm could bring as much as 25 inches of rain, officials warned.
A video has surfaced through which one might simply acknowledge Rocky hitting the 2 males. To make matters worse, Rocky says he was denied an opportunity to speak with a U.S.
Google Just Launched A New Social Networking App
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Drivers showered with cash on Georgia highway
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Hawaii wildfire forces evacuations, cuts power in Maui
The agency reported moving crates and kennels of animals to its evacuation site at Maui High School, Perry added. No injuries or damage to structures were reported, but some farm equipment had burned, HawaiiNewsNow reported.
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Roger Federer vs. Rafael Nadal
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Liverpool boss Klopp excited by 19 year-old
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