Wildly popular videoconferencing service Zoom acquires Keybase, a start-up with encryption expertise, following “Zoombombing” issues (uninvited members joining a meeting).
JCPenney (“JCP”), a cornerstone retailer in US shopping malls, has joined a myriad of American brick-and-mortar chains to file for bankruptcy, following years of debt overload which had been worsened by the coronavirus pandemic.
Many have hailed data as the new oil. In half a century the internet has rapidly invaded the lives of its 4.33bn users which has created a new widespread commodity: data. According to the World Economic Forum, the planet produces 2.5 quintillion bytes of it every day. As the capacity of data analytics software has advanced, so has the profitability of collecting large quantities of data. For example, personal data (information not limited to: your health records, banking providers and products, location, beliefs and personal preferences) is worth a lot to advertisers who can use it to specifically target a desired audience. Deriving value from data has helped to create powerful world tech leaders. Some of the most valuable companies in the world (by market value) are tech companies like Alphabet (Google’s parent company), Amazon and Facebook, collectively referred to as GAFAM companies. These companies’ business models are, at least in part, driven by the monetisation of data, which they collect and sell to various buyers.
McDonald’s has entered negotiations with the landlords of some of its UK sites. The fast-food chain, whose global sales surpassed $100bn in 2019, is seeking support from its landlords as it looks to reopen some of its stores after closing due to the Coronavirus pandemic.
Amjad Rihan, an ex-Ernst & Young (EY) partner and whistleblower, sued the firm for an alleged cover-up on gold smuggling for suspected money laundering purposes in an audit report for Kaloti Jewellery International (Kaloti), the United Arab Emirates’ largest gold refiner in 2013.