US lawmakers demand Facebook to come clean over Chinese data sharing

Facebook Inc faced criticism on Wednesday from Republican and Democratic US lawmakers who demanded that the social media company be more forthcoming about data it has shared with four Chinese firms. 

The bipartisan criticism reflected rising frustration in Congress about how Facebook protects the privacy of the more than 2 billion people who use its services worldwide. The leaders of the U.S. House of Representatives Energy and Commerce Committee accused Facebook Chief Executive Officer Mark Zuckerberg of failing to disclose the company’s agreements with the Chinese firms when he appeared before them in April and testified about Facebook’s sharing of users’ personal information with third parties.

Jack Ma urges Zuckerberg to 'fix' Facebook and to 'take it seriously'

Jack Ma, the billionaire co-founder of Chinese e-commerce giant Alibaba, urged Mark Zuckerberg to tackle the growing criticism aimed at Facebook Inc. by regulators and users around the world, and “really take it seriously.”

China’s richest man and chairman of Alibaba Group Holding Ltd. on Monday weighed in on the controversy, calling on his fellow internet pioneer to “fix” a social network that had grown explosively over the past decade and a half. Asked at the Boao Forum about the Facebook furor, the billionaire started dismissing questions but then couldn’t help opining on the crisis facing the U.S. company.

Facebook’s shares have tumbled since the company disclosed in March that it may have shared the personal data of tens of millions of users with Cambridge Analytica, a research firm that helped elect President Donald Trump. Enraged users launched a #deletefacebook campaign and regulators around the world are investigating its handling of sensitive personal information.

“It is the time to fix it. It is the time for the CEO to really take it seriously. I think the problems will be solved,” Ma told delegates to the annual conference on the sunny island of Hainan.

BJP calls Rahul tech illiterate; experts say NaMo app data leak dangerous

The Twitter war between the Congress and the BJP on the issue of data 'theft' escalated on Monday, with Congress President Rahul Gandhi dubbing Prime Minister Narendra Modi the "Big Boss who likes to spy on Indians" and the ruling party hitting back, saying even "Chhota Bheem" knows it is not snooping. Apart from the cartoon character, mythological characters from the epic 'Mahabharata' were also used by the two parties to take jibes at each other.

The BJP described Rahul Gandhi’s accusation of “data theft” against Prime Minister Narendra Modi as “a classic case of technological illiteracy” and said the Congress president was rattled after his plan to influence the next Lok Sabha election with the help of Cambridge Analytica was “exposed”. At a press conference, BJP spokesperson Sambit Patra lashed out at Gandhi, saying such a technological illiteracy had rarely been seen in Indian politics.Twitter was the battleground as the BJP also accused the Opposition Congress of data "theft", saying it had taken off its app after the allegations came out in the open. The Congress, however, claimed it had not done so. The site was "dysfunctional" and all memberships were done through the party's official website, it said

FedEx says cyber attack to hurt its fiscal 2018 results

Package delivery company FedEx Corp said its fiscal 2018 results would be hurt in part due to disruption of operations in its TNT Express unit following a cyber attack last month.

The Netherlands-based TNT Express is still experiencing widespread service delays following the attack, FedEx said in a regulatory filing on Monday.

FedEx said it was unable to estimate when services at the unit would be fully restored.

FedEx added that no data breach or data loss to third parties is known to have occurred as of July 17.

The company said it was evaluating the financial impact of the cyber attack, but it was likely to be "material".

Shares of FedEx fell as much as 2.7 per cent to $213.07 in early trading.

In June, a new cyber virus spread from Ukraine to wreak havoc around the globe, crippling thousands of computers.

FedEx said it has experienced loss of revenue due to decreased volumes at TNT Express, incremental costs from contingency plans and remediation of affected systems.

The company said it did not have an insurance in place that covered the impact from the cyber attack.
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