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Facebook now says data breach affected 29 million users

CALIFORNIA: Cyber attackers stole data from 29 million Facebook accounts using an automated program that moved from one friend to the next, Facebook Inc announced on Friday, as the social media company said its largest-ever data theft hit fewer than the 50 million profiles it initially reported. The company said it would message affected users over the coming days to tell them what type of information had been accessed in the attack. The breach has left users more vulnerable to targeted phishing attacks and could…

China’s ZTE posts 1.1 billion first-half loss on impact from US supplier ban

HONG KONG: ZTE reported a first-half net loss of 7.8 billion yuan ($1.1 billion) on Thursday, weighed down by a ban on US firms selling parts to the Chinese telecom equipment maker that forced it to cease operations for three months. The result compared with the 7 billion to 9 billion yuan net loss estimate disclosed last month, and the 2.3 billion yuan profit booked in the same period a year earlier. Operating revenue in the first half fell 27.0 percent to 39.4 billion yuan. In June, the network equipment and…

Australia investigates impact of Google and Facebook on media

SYDNEY: Australia’s competition regulator said on Monday it would investigate whether U.S. online giants Facebook and Alphabet Inc’s Google has disrupted the news media market to the detriment of publishers and consumers. Like their rivals globally, Australia’s traditional media companies have been squeezed by online rivals, as advertising dollars have followed eyeballs to digital distributors such as Google, Facebook and Netflix Inc. The government ordered the probe as part of wider media reforms, amid growing concern…

Obama admits underestimating impact of Russian hacking

WASHINGTON: President Barack Obama admitted Sunday that he "underestimated" the impact misinformation and hacking could have on democracies, a remark that follows an intelligence report on Russian meddling in the US presidential vote. In a pre-taped interview on ABC's "This Week," Obama denied underestimating Russian President Vladimir Putin, who US intelligence agencies say ordered a campaign of hacking, leaking and media manipulation aimed at undermining the presidential campaign of the Democratic candidate Hillary…