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Data sharing with Facebook lands WhatsApp in trouble The cross platform messaging service WhatsApp, is in hot waters after its decision to share user data with parent Facebook, met with criticisms form the privacy groups.These groups have decided to take the matters in their own hand and have decided to lodge a complaint against the messaging giant. The privacy group called the Electronic Privacy Information Center (EPIC) is of the view that that Facebook and WhatsApp have violated the user privacy commitment promised back in 2014, reported Hot Hardware.The group is planning to file a complaint for allegedly violating the Federal Trade Commission (FTC) act.In a letter to FTC, EPIC states: “WhatsApp's privacy policy clearly states, among other things, that users' information will not be used for advertising purposes or sold to a third party for commercial or marketing use without the users' consent. Facebook's purchase of WhatsApp would not nullify these promises and WhatsApp and Facebook would ...

Business & Finance - Industries & Sectors

China oil giant Sinopec net profit dives over 20pc SHANGHAI: Chinese oil giant Sinopec, Asia's biggest refiner, saw its first half net profits drop 21.6 percent, it said, hit by low oil prices.The company made 19.92 billion yuan ($2.98 billion) in the January to June period, compared with 25.42 billion yuan in the same period last year, according to a statement to the Hong Kong stock exchange, where it is listed."In the first half of 2016, international crude prices recorded a sharp decline from ...

Business & Finance - Industries & Sectors

China to rein in aggressive acquisitions by insurers BEIJING: China's insurance regulator will limit the funding avenues for insurers to take stakes in other companies, in an effort to crack down on aggressive acquisitions, financial news outlet Caixin reported on Saturday, citing anonymous industry sources. The China Insurance Regulatory Commission (CIRC) will require insurers to report any large stakes they hold in other companies and apply for permission before undertaking any significant market activity which may lead to a take-over of a listed ...

Business & Finance - Industries & Sectors

ENI shuts production, evacuates staff from Arctic oil platform due to power loss OSLO: Oil firm ENi had to shut down production late on Friday at its Goliat platform in the Barents Sea off Norway and partially evacuate staff from the facility due to a power loss, the firm said on Saturday. "The Goliat FPSO lost all power from shore ... and the production was stopped. In accordance with standard procedure, the decision was made to send non-essential personnel to shore," ENI said in a statement."When the power ...

Business & Finance - Industries & Sectors

Facebook makes trending news feature more automated SAN FRANCISCO: Facebook said Friday it is further automating its "trending" stories feature, a move that will scale back human input to prevent personal bias from influencing which stories get highlighted.The social media giant will rely more heavily on an algorithm to operate the feature -- which lists what news or events are hot topics -- no longer requiring people to write descriptions, according to a Facebook blog post.The feature prompted controversy earlier this year, ...

Business & Finance - Industries & Sectors

VW avoids cutting staff hours in supplier dispute BERLIN: Volkswagen, ramping up output after more than a week of disruptions, said it has avoided trimming the hours of most of the 28,000 workers affected by suppliers retaining parts.Production of cars, gearboxes, emissions systems and engines in Volkswagen's (VW) German home market has been curtailed by two suppliers refusing to deliver seat covers and cast iron parts after VW cancelled a contract without notice. Since Tuesday, when VW and the suppliers resolved the conflict, ...

Business & Finance - Industries & Sectors

WhatsApp to pass on user’s personal information to Facebook The messaging firm WhatsApp is bringing major changes to its privacy policy, as it will now share its user’s data with the parent company, Facebook.The move was announced by the messaging giant in a blog post. “Today, we’re updating WhatsApp’s terms and privacy policy for the first time in four years,” it stated in the blog.“[B]y coordinating more with Facebook, we’ll be able to do things like track basic metrics about how often people use ...