(Adds details on security lapse and background in paragraphs 2-4)
Oct 10 (Reuters) – The U.S. securities regulator is investigating how Twitter managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year, Bloomberg News reported.
The agency has been scrutinizing whether the former top executives failed to adequately disclose those privacy issues to shareholders or put in place proper controls, according to the report, which cited people familiar with the matter.
At the time, the company was being led by Jack Dorsey with Ned Segal as CFO and Parag Agrawal as the chief technology officer.
A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, Bloomberg News said.
The company and the SEC did not immediately respond to Reuters requests for comment.
Musk renamed the social media platform as X following the acquisition. (Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber and Shounak Dasgupta)
Utah became the latest state Tuesday to file a lawsuit against TikTok, alleging the company is “baiting” children into addictive and unhealthy social media habits. TikTok lures children into hours of social media use, misrepresents the app’s safety and deceptively portrays itself as independent of its Chinese parent company, ByteDance, Utah claims in the lawsuit. Arkansas and Indiana have filed similar lawsuits while the U.S. Supreme Court prepares to decide whether state attempts to regulate social media platforms such as Facebook, X and TikTok violate the Constitution.
The SEC is reportedly looking into how Twitter (now X) a security issue in 2018 that led to users' personal information being exposed. The agency is looking into whether executives at the time managed the situation appropriately.
Argentina’s firebrand populist presidential candidate Javier Milei, the front-runner to win the election later this month, is coming under fire from his rivals who blame him for a sharp depreciation of the local currency in the parallel market. Milei has continued to tout his controversial plan for dollarization of the South American country’s economy. With a little less than two weeks to go before the Oct. 22 presidential election, the Argentine peso has sharply depreciated over the past week.
Trump's FCC killed network neutrality, giving internet firms free rein to strong-arm consumers — even first responders. Thankfully, Biden's FCC wants to revive it.
Google, Amazon and Cloudflare have all recently been victims of attacks just weeks just weeks after casino operators MGM Resorts (MGM) and Caesars Entertainment (CZR) were targeted.
WASHINGTON (Reuters) -Internet companies Google, Amazon and Cloudflare say they have weathered the internet's largest-known denial of service attack and are sounding the alarm over a new technique they warn could easily cause widespread disruption. Alphabet Inc-owned Google said in a blog post published Tuesday that its cloud services had parried an avalanche of rogue traffic more than seven times the size of the previous record-breaking attack thwarted last year. Internet protection company Cloudflare Inc said the attack was "three times larger than any previous attack we've observed."
BRUSSELS (Reuters) -EU industry chief Thierry Breton on Thursday took TikTok to task over the spread of disinformation on its platform following Hamas' attack on Israel after similar reprimands to X and Meta, marking the first test of his landmark online content rules. The Frenchman gave TikTok CEO Shou Zi Chew 24 hours to step up efforts to remove illegal and harmful content from the short video app in order to comply with the Digital Services Act (DSA).
Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google and Discord Inc have been hosting an exclusive chat for avid users of Bard, Google's AI-powered chatbot. This platform has become a ground for open discussions among Google's product managers, designers, and engineers, evaluating Bard's performance and questioning the value derived from the substantial resources allocated to its development. Also Read: Google, Nvidia Collaborate On AI Expansion In Strategic Play Against Microsoft Senior product
Public cloud-computing has been slow to take hold at financial-services firms, but AI is pushing some to move faster in revamping their corporate technology.
PwC Australia's chief executive apologised profusely to senators on Thursday for the leak of confidential tax documents, as he was grilled about the involvement of overseas partners in plans to win work from U.S. technology giants and other companies. "I will apologise as many times as I need to to the Australian people," CEO Kevin Burrowes said in his first appearance at a parliamentary inquiry. Police are still investigating the breaches, which forced out the former CEO, led to the fire sale of its lucrative government consulting business for A$1 and entangled clients Google, Uber and Meta.
Emerging uses for the Ethereum network in gaming and tokenization should help drive a 5X in ether's price over the next three years, said the bank.
Former Alameda Research CEO Caroline Ellison retook the stand on Wednesday after testifying that her former boss and boyfriend, Sam Bankman-Fried, had directed many of FTX’s now-public missteps.
Digital World Acquisition Corp (DWAC), the blank-check acquisition company that plans to merge with former U.S. President Donald Trump's social media firm, said on Thursday it would return to investors $533 million raised for a cash infusion in the deal, after some already backtracked on another $467 million of commitments. The development is the nail in the coffin of the $1 billion investment that DWAC had raised for the merger with Trump Media & Technology Group (TMTG), which runs the Truth Social platform. It raises further doubts about whether the former U.S. president will go ahead with the deal, now that TMTG no longer stands to receive $1 billion if and when it closes.
When stock markets are in flux, it’s time to dig a little deeper to find the right investments. Investors will look for all sorts of signs, based on the earnings forecasts or charts – but one of the clearest signs of all is put up by corporate insiders. These are the company officers who are charged with ensuring profits and returns. They are answerable to Boards of Directors and to shareholders, who expect them to build a company that supports a solid share value. These insiders, the C-suite re
This past week has been a doozy. We’ve got the usual headwinds piling up, with sticky inflation, a 1-in-3 chance for another Fed interest rate hike this year, and rising bond rates putting pressure on stocks. And if that wasn’t enough, the geopolitical situation has heated up, with a major war in the Middle East as Israel goes to war in retaliation for Hamas’ latest atrocities. But there are opportunities in the market, and investors should not lose hope, despite the headwinds. The strategists a
Three in four companies officially prefer skills to degrees.
Thursday's inflation report kept the narrative for a Fed pause in November in tact but underlying details increased the likelihood the Fed could raise rates again in December.
The government on Thursday announced how much checks will rise next year for the roughly 67 million Social Security recipients.
When Bill and Melinda Gates shared the news of their separation in April 2021, it caught many off guard. They had spent 27 years together, and their collective efforts in the tech and charity sectors made them prominent figures in global news. The situation was complicated by the absence of a prenuptial agreement, despite the couple's combined wealth estimated at $130 billion. Given the magnitude, the selection of their legal representation became a point of interest. Bill Gates once stood as th
ON Semiconductor, Dillard's, Valero Energy, Upbound and AGNC Investment are part of the Zacks Screen of the Week article.