Facebook's New Privacy Checks

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Hi I'm Nick Trzcinski join me every trading day on numbers by Barron's at two minute morning briefing that helps you navigate the market you can add numbers by Barron's to to your flash briefing on your Alexa device or subscribe wherever you listen to podcasts <music>. This is tech news briefing. I'm Tanya Bustos reporting from the newsroom in New York and as reported on the podcast previously facebook will pay a five billion billion dollar fine after the Federal Trade Commission founded deceived users and manage their personal data with improper care now. Let's talk about what the new settlement really means for our precious precious user data. That's after these headlines Capital. One financial the fifth largest U._S. Credit Credit Card Issuer said this week that a hacker accessed the personal information of approximately one hundred six million card customers and applicants. This is one of the largest ever data breaches of a big bank. The bulk of the exposed data involves information submitted by customers and small businesses in their applications for capital one credit cards. The breach compromised approximately one hundred forty thousand social security numbers and eighty thousand bank account numbers. The bank said no credit card numbers or log in credentials had been exposed and that its internal investigation is ongoing. The incident is expected to cost the bank approximately one hundred million to one hundred fifty million dollars two of the largest food delivery companies in Europe have struck and eleven point one billion dollar merger deal joining forces to battle the legs of Uber and Amazon in a fast growing growing service Dutch food delivered takeaway has agreed to an all share transaction with london-listed just eat subject to final approval. The company said that combined they had three hundred sixty million dollars last year worth about eight point one billion dollars analysts say food delivery companies aiming to compete globally can gain an edge wjr by tying up with rivals case in point earlier this year Amazon led a five hundred seventy five million dollar funding round for deliver ru which helped fund the U._K.. Companies meals delivery every battle with uber and now calling balls and strikes robot umpires baseball's future has arrived in the Biases and inconsistencies of mere humans the Journal says that for now Major League baseball plans to observe how well the automated strike zone does before determining what what happens next noting it will most certainly moved to the minor leagues before going to the Big Leagues Coming Up. How safe do you like your facebook user data find out if the F._T._C. A._B._C.'s doing enough breaking down the hall New Order. To protect your privacy hi I'm Nick Trzcinski join me every trading day on numbers by Barron's <unk> at two minute morning briefing that helps you navigate the market you can add numbers by Barron's to your flash briefing on your Alexa device or subscribe wherever you listen to podcasts facebook has come under fire recently. It must pay five billion dollars in fines after the F._T._C. founded improperly managed managed Caesar data we learn of new stricter oversight and the bottom line is the F._T._C. says these new measures protect consumers. Let's break it down and look at how first off we begin with third party APPS. They'll have a harder time getting their hands on your data. The Wall Street Journal's Spencer mcnaughton explains further the settlement will force facebook facebook to increase its management of third party developers facebook must now terminate developer access to user information if that developer can't justify their need for that data. Also now you need to actively consent for access to facial recognition data the F._t._C. writes that the company must delete any existing facial recognition data <hes> within ninety days of the order unless the company obtains users affirmative consent to use it on templates in the future moving on facebook cannot use your phone number or to beef up its AD sales anymore any given number in the guise of enhanced security may not be shared with advertisers or other third parties and the authorities they will now abi quickly notified the order also mandates that facebook increase transparency when data five hundred or more users has been compromised facebook has to deliver notice within thirty days days the company's discovery of the incidents alongside a description of steps taken to remediate the issue and the F._T._C. maintains. This is just the beginning commissioner. Noah Joshua Phillips oops has more is not the purpose of this investigation to vindicate every concern that the world has about facebook. We have big national conversations going talk about the company and others like right now. Those are important conversations. They're going to continue the story. Continues at wsj.com had there for the latest that does it for this edition of tech news briefing from the newsroom in New York. I'm Tanya Bustos. Thanks for listening.

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