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Business

WeChat has confirmed what has been rumoured all along i.e. it gives all user information to the Chinese government.

The popular app in a privacy statement is now informing the users that virtually all the private user information will be disclosed to the authorities.

WeChat, owned by the Chinese firm Tencent, is a messaging app similar to the WhatsApp. With over 662 million users, the app, besides being the dominant messaging app in China, it is one of the largest in the world.

The app is also infamous for its links with the Chinese regime.

A 2016 survey by Amnesty International ranked it lowest among popular messaging apps with regard to privacy protection of its users.

The information that nearly all the private data in the app is accessible to the Chinese regime became evident when the users tried to avail the latest update. moneycontrol.com
Quiz image
Did you know that the office is one of the prime breeding grounds for germs and the spread of bacteria? See if your office is as clean as you think it is… .
In a huge blow to Uber in the UK London’s transport regulator has rejected its application to renew its license to operate in the city.

In a statement today TfL said it has concluded that Uber is “not fit and proper to hold a private hire operator licence”.

“TfL’s regulation of London’s taxi and private hire trades is designed to ensure passenger safety. 

Private hire operators must meet rigorous regulations, and demonstrate to TfL that they do so, in order to operate.  

TfL must also be satisfied that an operator is fit and proper to hold a licence,” it said. techcrunch.com
Upstate New York-based coffee brand Death Wish Coffee has recalled all of its Nitro Cold Brew canned coffees due to a slight risk of the toxin that can cause botulism.

Tests performed by Cornell labs showed a slight risk of the toxin Clostridium botulinum, which causes botulism.

According to the Centers for Disease Control and Prevention, botulism attacks the nerves and can cause muscle weakness and difficulty breathing, which can lead to death.

According to founder Mike Brown, testing showed no degradation in the quality or shelf stability of the cans, and no illnesses were reported.

Death Wish Coffee is available at Price Chopper/Market 32, Healthy Living Market & Cafe and independent retailers.

The cold brews have been pulled from store shelves, and customers who have purchased it are urged to either dispose of it or return it to the store with proof of purchase for a full refund. syracuse.com
Three marketers who say they purchased video ads on Facebook have sued the social networking service for allegedly providing incorrect metrics about the length of time that users spent watching video ads.

The marketers allege in a potential class-action that Facebook "induced" advertisers to purchase video ads -- and to pay higher rates for them -- by overstating the time that people spent watching video ads.

The complaint stems from recent revelations that Facebook inflated the average time spent viewing ad clips by 60% to 80%.

Facebook said in September that its mistaken calculations didn't affect billing.

But the marketers contend that the incorrect metrics made video ads appear more valuable than was the case.

"By misrepresenting the average time its millions of consumers spent watching posted advertising videos, Facebook induced advertisers, like Plaintiffs, to continue to purchase video advertisements based on the belief that the advertisements were more successful than they actually were," marketers Tom Letizia, Mark Fierro and Greg Agustin allege in a class-action complaint filed late last week in U.S. District Court for the Northern District of California. mediapost.com
The company partnering on President Trump’s new golf course in Dubai awarded a multimillion-dollar contract to a firm owned by the Chinese government — violating Trump’s promise to avoid foreign government transactions while he’s in office.

Trump’s partner, DAMAC, gave a $32 million contract to the Middle East subsidy of the China State Construction Engineering Corporation to help build part of the upcoming Trump World Golf Club in Dubai.

DAMAC and the Chinese company both announced the deal in press releases earlier this year, with barely any mention of Trump. 

McClatchyDC first reported the connection to the President’s company.

It is unclear when the deal was struck, but both companies announced the agreement after Trump took office.

The course is scheduled to open in 2018. msn.com
Volkswagen updated its plans for electric cars with a complete overhaul of its investment strategy.

After announcing an initial investment of $10 billion in EVs earlier this year, which was still smaller than the German automaker’s investments in gas-powered cars, they now promise to spend up to 70 billion euros (~$84 billion USD) in order to bring 300 electric vehicle models to market by 2030.

More interestingly, most of the investment 50 billion euros (~$60 billion) will be in battery production in order to support their electric car ambitions for the next decade.

A slide that leaked from a VW presentation about its upcoming electric vehicles showed that they have 4 new models coming under the VW brand within the next few years, but also several more under Audi, Porsche, and the automaker’s other brands.

While it’s still more talk than action, this move is significant because it would mean that the board has approved an investment schedule for electric vehicles and an investment of this size should get things going. electrek.co
US banking regulators ordered Pakistan's Habib Bank to shutter its New York office after nearly 40 years, for repeatedly failing to heed concerns over possible terrorist financing and money laundering, officials said Thursday.

Habib, Pakistan's largest private bank, neglected to watch for compliance problems and red flags on transactions that potentially could have promoted terrorism, money laundering or other illicit ends, New York banking officials said.

The state's Department of Financial Services, which regulates foreign banks, also slapped a $225 million fine on the bank, although that is much smaller than the $629.6 million penalty initially proposed.

Habib has operated in the United States since 1978, and in 2006 was ordered to tighten its oversight of potentially illegal transactions but failed to comply.

New York regulators said Habib facilitated billions of dollars of transactions with Saudi private bank, Al Rajhi Bank, which reportedly has links to al Qaeda, and failed to do enough to ensure that the funds were not laundered or used for terrorism.

"DFS will not tolerate inadequate risk and compliance functions that open the door to the financing of terrorist activities that pose a grave threat to the people of this State and the financial system as a whole," DFS Superintendent Maria Vullo said in a news release. indiatimes.com