Connect with us

Reuters

Facebook fires employee who protested inaction on Trump posts

Avatar

Published

on

SAN FRANCISCO (Reuters) – Facebook Inc fired an employee who had criticized Chief Executive Mark Zuckerberg’s decision not to take action against inflammatory posts by U.S. President Donald Trump this month, citing his tweet challenging a colleague’s silence on the issue.

FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration

Brandon Dail, a user interface engineer in Seattle, wrote on Twitter that he was dismissed for publicly scolding a colleague who had refused to include a statement of support for the Black Lives Matter movement on developer documents he was publishing.

Dail sent the tweet a day after joining dozens of employees, including the six other engineers on his team, in abandoning their desks and tweeting objections to Zuckerberg’s handling of Trump’s posts in a rare protest at the social media company.

“Intentionally not making a statement is already political,” Dail wrote in the tweet, sent on June 2. He said on Friday that he stood by what he wrote.

Facebook confirmed Dail’s characterization of his dismissal, but declined to provide additional information. The company said during the walkout that participating employees would not face retaliation.

Dail did not respond to a request for comment.

Trump’s posts which prompted the staff outcry included the racially charged phrase “when the looting starts, the shooting starts” in reference to demonstrations against racism and police brutality held after the May 25 killing of George Floyd, a black man who died in police custody in Minneapolis.

Twitter affixed a warning label to the same post, saying it glorified violence. Facebook opted to leave the post untouched.

Zuckerberg defended his decision at a tense all-hands meeting with employees that week. During the meeting, Dail tweeted that it was “crystal clear today that leadership refuses to stand with us.”

Dail again voiced objections this week after both Facebook and Twitter declined to take action against a Trump post that contained an unsubstantiated conspiracy theory about Martin Gugino, a 75-year-old protester who was critically injured by police in Buffalo, New York.

“Trump’s attack on Martin Gugino is despicable and a clear violation [of] Facebook’s anti-harassment rules. It’s again extremely disappointing that we (and Twitter) haven’t removed it,” he said.

Internal dissent is often encouraged at Silicon Valley tech giants, but the companies have been accused of penalizing workers who organise and air complaints publicly.

Alphabet’s Google fired at least five workplace activists late last year, while Amazon dismissed critics of its warehouse conditions during the coronavirus pandemic.

Both companies denied firing employees for speaking out.

Reporting by Katie Paul; additional reporting by Paresh Dave; Editing by Greg Mitchell, Will Dunham, Cynthia Osterman and Daniel Wallis

Source: http://feeds.reuters.com/~r/reuters/topNews/~3/kAhjDV-UROQ/facebook-fires-employee-who-protested-inaction-on-trump-posts-idUSKBN23J35Y

Private Equity

KKR passes $11bn for fourth flagship Asia fundraise, could raise $12.5bn – report

Avatar

Published

on

KKR has hauled in more than $11bn through the first close of its latest mammoth Asia private equity fund, putting it wel

Source: https://www.altassets.net/private-equity-news/by-region/asia-by-region/kkr-passes-11bn-for-fourth-flagship-asia-fundraise-could-raise-12-5bn-report.html

Continue Reading

Cyber Security

NY Charges First American Financial for Massive Data Leak

Avatar

Published

on

In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. had exposed approximately 885 million records related to mortgage deals going back to 2003. On Wednesday, regulators in New York announced that First American was the target of their first ever cybersecurity enforcement action in connection with the incident, charges that could bring steep financial penalties.

First American Financial Corp.

Santa Ana, Calif.-based First American [NYSE:FAF] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. It employs some 18,000 people and brought in $6.2 billion in 2019.

As first reported here last year, First American’s website exposed 16 years worth of digitized mortgage title insurance records — including bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and drivers license images.

The documents were available without authentication to anyone with a Web browser.

According to a filing (PDF) by the New York State Department of Financial Services (DFS), the weakness that exposed the documents was first introduced during an application software update in May 2014 and went undetected for years.

Worse still, the DFS found, the vulnerability was discovered in a penetration test First American conducted on its own in December 2018.

“Remarkably, Respondent instead allowed unfettered access to the personal and financial data of millions of its customers for six more months until the breach and its serious ramifications were widely publicized by a nationally recognized cybersecurity industry journalist,” the DFS explained in a statement on the charges.

A redacted screenshot of one of many millions of sensitive records exposed by First American’s Web site.

Reuters reports that the penalties could be significant for First American: The DFS considers each instance of exposed personal information a separate violation, and the company faces penalties of up to $1,000 per violation.

In a written statement, First American said it strongly disagrees with the DFS’s findings, and that its own investigation determined only a “very limited number” of consumers — and none from New York — had personal data accessed without permission.

In August 2019, the company said a third-party investigation into the exposure identified just 32 consumers whose non-public personal information likely was accessed without authorization.

When KrebsOnSecurity asked last year how long it maintained access logs or how far back in time that review went, First American declined to be more specific, saying only that its logs covered a period that was typical for a company of its size and nature.

But in Wednesday’s filing, the DFS said First American was unable to determine whether records were accessed prior to Jun 2018.

“Respondent’s forensic investigation relied on a review of web logs retained from June 2018 onward,” the DFS found. “Respondent’s own analysis demonstrated that during this 11-month period, more than 350,000 documents were accessed without authorization by automated ‘bots’ or ‘scraper’ programs designed to collect information on the Internet.

The records exposed by First American would have been a virtual gold mine for phishers and scammers involved in so-called Business Email Compromise (BEC) scams, which often impersonate real estate agents, closing agencies, title and escrow firms in a bid to trick property buyers into wiring funds to fraudsters. According to the FBI, BEC scams are the most costly form of cybercrime today.

First American’s stock price fell more than 6 percent the day after news of their data leak was published here. In the days that followed, the DFS and U.S. Securities and Exchange Commission each announced they were investigating the company.

First American released its first quarter 2020 earnings today. A hearing on the charges alleged by the DFS is slated for Oct. 26.



Tags: First American Financial Corp., New York State Department of Financial Services, Reuters

Source: https://krebsonsecurity.com/2020/07/ny-charges-first-american-financial-for-massive-data-leak/

Continue Reading

Blockchain

Coinbase Reportedly Eyeing Stock Exchange Listing in Latest Power Move

Avatar

Published

on

U.S. crypto exchange Coinbase might be going public if reports from inside sources are to be believed.

The San Francisco-based company has undergone a significant evolution since its inception eight years ago but remains one of the major players in the cryptocurrency exchange scene.

In recent times, the platform has been riddled with controversy over issues around token listings, privacy violations, and government agency affiliations.

Coinbase Going Public?

According to Reuters, inside sources at Coinbase say the exchange is exploring the possibility of a stock exchange listing. The platform could pursue the move later in the year. Or at the start of 2021.

There’s no official confirmation yet as Coinbase has not notified the U.S. Securities and Exchange Commission (SEC). However, anonymous sources told Reuters that Coinbase is working on modalities behind the scene, including arrangements with law firms and investment bankers.

A U.S. stock exchange listing could further catapult Coinbase’s valuation in what would be the latest in a string of power moves by the giant exchange. Back in October 2018, the platform raised $300M in a Series E funding round, which took the company’s valuation to $8 billion.

Unconfirmed reports suggest Coinbase might opt for a direct listing instead of an initial public offering (IPO). If confirmed, the move will eliminate the need for potentially expensive underwriters and lockup agreements that come with the dilution of shares in an IPO.

Coinbase’s reported IPO plans reveal an emerging theme for major crypto businesses. From mining firms to cryptocurrency hedge funds, public listings appear to be the next logical step in the evolution of big virtual currency companies, especially against the backdrop of increased institutional investment.

Mining giants like Bitmain and Canaan pursued IPO plans in the past, with the latter scrapping its underwhelming share sale back in late 2019. The Canaan IPO, too, only raised $90M out of a $400M projection. Meanwhile, Bitmain has had to endure a couple of its own false starts.

At the start of 2020, the Grayscale Bitcoin

BUY NOW Trust (GBTC) also obtained SEC approval to act as a reporting company.

From Crypto Exchange to Digital Asset Business

Apart from its exchange services, Coinbase now hosts other business elements like custody and commerce. The latter tool allows businesses to easily accept crypto payments. It already has over 8,000 merchant customers. In May, Coinbase announced plans to acquire Tagomi, a crypto brokerage firm.

The move signaled further intentions to pivot towards institutional players. The exchange reportedly holds over 1 million BTC. Coinbase has radically shifted its strategy over the last few years. Initially sticking to a limited token listing regime, the exchange now has a more liberal policy towards altcoins.

The platform lists 27 different assets and in mid-June, it announced plans to consider 18 more tokens.

coinbase libra

Some of these listings resulted in parabolic price spikes which just as quickly disappeared. Critics have consequently handed down some heavy comments regarding its new listing policy, particularly for tokens associated with the Digital Currency Group (DCG).

Despite their relatively small market cap, these ‘coins’ found their way to the Coinbase trading catalog prompting critics to label the listing as rather questionable. On separate occasions, #DeleteCoinbase and #BoycottCoinbase were trending on Twitter.

The company’s acquisition of controversial analytics firm Neutrino also sparked outrage in the crypto community owing to Neutrino’s association with government-sanctioned spyware programs.



Do you want to Be In Crypto?Join our Telegram Trading Group for FREE Trading Signals,a FREE Trading Course for Beginners and Advanced Tradersand a lot of fun! Images courtesy of Shutterstock, TradingView and Twitter.

Disclaimer. Read MoreRead Less

As a leading organization in blockchain and fintech news, BeInCrypto always makes every effort to adhere to a strict set of editorial policies and practice the highest level of journalistic standards. That being said, we always encourage and urge readers to conduct their own research in relation to any claims made in this article.
This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions. The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments — including but not limited to any that appear in the contents of this article.

Source: https://beincrypto.com/coinbase-reportedly-eyeing-stock-exchange-listing-in-latest-power-move/

Continue Reading
Energy2 hours ago

nexAir acquires Atlanta-based medical gas supplier

Energy2 hours ago

Sight Machine Puts the True Smart Factory in Reach With Automated Optimization of Manufacturing

Energy2 hours ago

QMC Responds to Announcement of Canadian Electric Vehicle Production

Energy2 hours ago

United States $10.63 Million Cast LDPE (Low density Polyethylene) Disposable Gloves Market to 2025: Outbreak of COVID-19 to have a Positive Impact on the Market

Cannabis3 hours ago

7 Amazing Things to Know About Cannabis for an Amazing Love Life

AR/VR3 hours ago

HTC Vive’s XR Suite for Remote Collaboration Goes Live

Energy5 hours ago

Intelligent Power Module Market revenue to cross USD 2.5 Bn by 2026: Global Market Insights, Inc.

Energy6 hours ago

FP Markets amplía su oferta de valores CFD en productos, metales e indices

Energy6 hours ago

Xinhua Silk Road: Green transformation vital for coal coking dev. and B&R energy cooperation

Energy6 hours ago

Laureat Nagrody Nobla w dziedzinie chemii oraz międzynarodowi eksperci wezmą udział w organizowanym przez CBMM wydarzeniu poświęconym produktom akumulatorowym

Energy6 hours ago

El evento de baterías organizado por CBMM reúne al premio Nobel en Química y a expertos internacionales

Ecommerce14 hours ago

VTEX and Loop Integration Fuel Project N95’s Mission to Protect…

Ecommerce14 hours ago

BrandSpark Study Reveals the Most Trusted Service, E-Commerce,…

Ecommerce14 hours ago

Manifattura Valcismon Reaches Peak Performance with Centric PLM™

Ecommerce14 hours ago

Plotch Ecommerce ERP Announces Successful Onboarding of…

Ecommerce14 hours ago

Productsup Launches ‘Productsup Academy’ to Offer Online Training and…

Covid1915 hours ago

Air Travel High: TSA Screens 1 Million For First Time Since March

Energy16 hours ago

CleanEquity® Monaco 2020 – Apresentando Empresas e Novas Colaborações

Energy16 hours ago

Steel Dynamics Reports Third Quarter 2020 Results

Energy17 hours ago

New Placer Dome Gold Corp to Webcast Live at VirtualInvestorConferences.com October 20th

Energy17 hours ago

EnLink Midstream Declares Third Quarter 2020 Distribution

Covid1917 hours ago

U.S. Borders With Canada And Mexico Will Stay Closed Another Month

Energy17 hours ago

Algonquin Completes ESSAL Acquisition

Energy19 hours ago

Global Force Sensors Markets to 2025: Improvement of Medical Devices with Force Sensor Technology will Drive the Market

Energy19 hours ago

Black Mamba Rod Lift and Oil Baron Supply Join Forces, Increasing Run-Times, Preventing Tubing Wear and Cavitation in Progressive Cavity Wells.

Energy19 hours ago

Waterproofing Systems Market by Type, Application, and Region – Global Forecast to 2025

Energy19 hours ago

$824 Million Worldwide Mobile Substation Industry to 2027 – Impact of COVID-19 on the Market

Energy20 hours ago

Georgia Power launches new careers website for students as part of Careers in Energy Week

Cleantech21 hours ago

GM Unveils Factory ZERO

Covid1921 hours ago

UNICEF To Stockpile Over Half A Billion Syringes For Future COVID-19 Vaccine

Cleantech21 hours ago

Volvo Trucks Receives Grants to Deploy VNR Electric Trucks in Southern California

Covid1922 hours ago

South Korea Eases Coronavirus Restrictions, Touts ‘Exceptional’ Success

Crowdfunding22 hours ago

Rnwl: The First Over-the-Top Insurance Platform

Energy22 hours ago

Freeport-McMoRan’s Steve Higgins Elected as Chairman of the Board of the International Copper Association

Energy23 hours ago

Nufarm and CROP.ZONE Announce Cooperation to Bring Alternative Weed Control to Major European Markets

Energy23 hours ago

Global Belt and Chain Drives Market, 2020-2024: Growth Opportunities in Collaboration & Use of Newer Materials Enabling Broader Capabilities

Energy23 hours ago

New Report Shows Critical Impact of Oil and Gas Industry in Los Angeles County

Big Data23 hours ago

Best Apps to Check Internet Speed

France
Esports23 hours ago

Python joins Heretics

Energy23 hours ago

Ultra Safe Nuclear Technologies Delivers Advanced Nuclear Thermal Propulsion Design To NASA

Trending