Facebook has agreed to pay US$5 billion ($6.8 billion) in a settlement with the US government. The US Federal Trade Commission says the penalty is “the largest ever imposed on any company for violating consumers’ privacy and almost 20 times greater than the largest privacy or data security penalty ever imposed worldwide”.
SINGAPORE (July 29): “Generally speaking, you have resilience in the services sector and in the construction sector. At the same time, this outlook is getting worse and worse. And it’s getting worse and worse in manufacturing, especially. And it’s getting worse and worse in those countries where manufacturing is very important.” — Mario Draghi, president of the European Central Bank, on the economic outlook, at a July 25 press conference.
Record penalty for violation of user privacy
