News That Matters

Tag: breach

Ex-Nissan Chairman Carlos Ghosen indicted for breach of trust

Ex-Nissan Chairman Carlos Ghosen indicted for breach of trust

World
Jan. 11 (UPI) -- Former Nissan Motors Co. Chairman Carlos Ghosn was indicted on new financial charges Friday in a Tokyo court. Ghosn, 64, was charged with aggravated breach of trust for allegedly transferring $ 17 million in personal investment losses to Nissan in 2008 as well understating his compensation by $ 37 million for three years through March 2018, the Nikkei Asian Review reported. Last month, he was indicted for underreporting his pay by around $ 46 million between 2010 and 2015. Ghosn has been in jail since his arrest on Nov. 19 at Tokyo's Haneda airport. Nissan dismissed Ghosn as chairman shortly after his arrest, but he remains chairman and CEO of Renault, which is the largest shareholder and partner of Nissan. The French company has assigned his duties to other executives. ...
Rana Kapoor hold companies get Rs 700 crore to avoid covenant breach

Rana Kapoor hold companies get Rs 700 crore to avoid covenant breach

Finance
MUMBAI: Yes Capital and Morgan Credits, the holding companies for Yes Bank co-founder Rana Kapoor family, stumped up at least about Rs. 700 crores in cash collateral in recent days to Franklin Templeton Mutual Fund and Reliance Mutual Fund to avoid breach of covenants in Non-Convertible Debentures, said two people familiar with the matter. The Rs. 630 crore bonds held in about five schemes of Franklin Templeton Mutual Fund was about to break or already broke the minimum 3 times the cover stipulated in the transaction agreement that led to the top-up of collateral, said those people who did not want to be identified. Covenants suggest that the value of Yes Bank shares be at least Rs. 1,890 crores, according to transaction summary provided by Templeton. The value of 7.56 crore shares as a se...
Facebook documents seized by MPs investigating privacy breach

Facebook documents seized by MPs investigating privacy breach

Technology
A cache of Facebook documents has been seized by MPs investigating the Cambridge Analytica data scandal.Rarely used parliamentary powers were used to demand that the boss of a US software firm hand over the details.The Observer, which first reported the story, said the documents included data about Facebook's privacy controls. MP Damian Collins later told the BBC that he believed the documents were "highly relevant" to his inquiry. Facebook has demanded their return.Escorted to ParliamentThe documents were intercepted when an executive of US tech firm Six4Three was on a trip to London.In a highly unusual move the House of Commons serjeant-at-arms was sent to the businessman's hotel and he was given a final warning and a two-hour deadline to comply with th...
Irish regulator opens Facebook data breach investigation

Irish regulator opens Facebook data breach investigation

Technology
Ireland's data regulator has launched an investigation of Facebook over a recent data breach that allowed hackers access to 50 million accounts. The probe could potentially cost Facebook more than $ 1.6 billion in fines. The Irish Data Protection Commission said Wednesday that it will look into whether the U.S. social media company complied with European regulations that went into effect earlier this year covering data protection. It's the latest headache for Facebook in Europe, where authorities are turning up the heat on dominant tech firms over data protection. Last month, European Union consumer protection chief Vera Jourova said that she was growing impatient with Facebook for being too slow in clarifying the fine print in its terms of service covering what happens to user data and ...
Facebook security breach: Up to 50m accounts attacked

Facebook security breach: Up to 50m accounts attacked

Technology
Facebook says almost 50 million of its users were left exposed by a security flaw. The company said attackers were able to exploit a vulnerability in a feature known as “View As” to gain control of people's accounts. The breach was discovered on Tuesday, Facebook said, and it has informed police. Users that had potentially been affected were prompted to re-log-in on Friday. Tech Tent: Facebook's family feud Facebook hate speech glitch investigated by firm The flaw has been fixed, wrote the firm’s vice-president of product management, Guy Rosen, adding all affected accounts had been reset, as well as another 40 million "as a precautionary step".Facebook - which saw its share price drop more than 3% on Friday - has more than two billion a...