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Facebook CEO didn't have all the answers for Congress

Facebook CEO didn't have all the answers for Congress

Technology
Facebook CEO Mark Zuckerberg often came across as one of the smartest people in the room as he jousted with U.S. lawmakers demanding to know how and why his company peers into the lives of its 2.2 billion users. But while some questions were elementary, others left Zuckerberg unable to offer clear explanations or specific answers. A series of tough inquiries about how much personal information Facebook vacuums up on and off its social network seemed particularly vexing for Zuckerberg, who couldn't quantify it. He was vague about whether Facebook was a monopoly and whether it would offer an ad-free option, as well as about how the company could offer the same level of privacy protection to users around the world. Zuckerberg squirmed when pressed about a 2011 agreement with the Federal Trad...
MPs want answers over $2tn Saudi Aramco float

MPs want answers over $2tn Saudi Aramco float

Business
The City watchdog is facing questions from MPs over its proposed rule changes that could lure the multi-trillion listing of oil giant Saudi Aramco to London.Tory MP Nicky Morgan and Labour MP Rachel Reeves, who chair the Treasury and business select commitees respectively, have written to the Financial Conduct Authority demanding it explain its proposals which would create a new category exempting state-controlled companies from certain rules that apply to other "premium" firms.Aramco is planning to list 5% of its shares. The FCA plan would allow state-controlled companies to side-step rules that would otherwise oblige them to float at least a 25% stake to gain a premium status.Image:The London Stock Exchange could host the float under the proposed rule changesWithout the rule change, it m...