Dec 23 (Reuters) – Facebook owner Meta Platforms Inc (META.O) has agreed to pay $725 million to resolve a class-action lawsuit accusing the social media giant of allowing third parties, including Cambridge Analytica, to access users’ personal information.
The proposed settlement, which was disclosed in a court filing late on Thursday, would resolve a long-running lawsuit prompted by revelations in 2018 that Facebook had allowed the British political consulting firm Cambridge Analytica to access data of as many as 87 million users.
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Tencent Chief Blasts Managers In Fiery Townhall – Sources
HONG KONG, Dec 23 (Reuters) – The founder of Chinese tech giant Tencent Holdings Ltd (0700.HK) told employees many “corruption” issues had been discovered within the company and mismanagement was draining its vitality, according to two employees familiar with the matter.
In a rare show of frustration, Pony Ma said at a year-end meeting with staff on Dec. 15 that internal reviews this year had exposed unspecified corruption within Asia’s biggest social media and gaming company, the sources said.
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Japan’s Consumer Inflation Hits Fresh 40-Year High, Eyes On BOJ Policy
TOKYO, Dec 23 (Reuters) – Japan’s core consumer inflation hit a fresh four-decade high as companies continued to pass on rising costs to households, data showed, a sign price hikes were broadening and could keep the central bank under pressure to whittle down massive stimulus.
Months before Tuesday’s surprise tweak to its yield control policy, Bank of Japan (BOJ) policymakers had discussed the potential market impact of a future exit from ultra-low interest rates, minutes of their October meeting showed on Friday.
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Oil Rises $1 On Russian Supply Worries; U.S. Storm Impact In Focus
SINGAPORE, Dec 23 (Reuters) – Oil prices rose more than $1 on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season.
Brent crude was up by 73 cents, or 0.9%, to $81.71 a barrel by 0715 GMT, while U.S. West Texas Intermediate (WTI) crude was at $78.40 a barrel, up 91 cents, or 1.2% higher.
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Toshiba’s Preferred Bidder Finalising $10.6 Bln Financing For Buyout – Sources
TOKYO, Dec 23 (Reuters) – The preferred bidder for Toshiba Corp (6502.T) is finalising 1.4 trillion yen ($10.6 billion) in financing from Japanese lenders to fund its acquisition, according to two sources, a deal that would see one of the country’s best known conglomerates taken private.
Private equity firm Japan Industrial Partners (JIP) is expected to secure commitments from banks by the end of this month, said the sources with knowledge of the matter who declined to be identified because the talks are not public.
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