Fri Oct 24, 2014 5:46pm EDT Tweet Share this Email Print A Hewlett-Packard logo is seen at the company’s Executive Briefing Center in Palo Alto, California January 16, 2013. Credit: Reuters/Stephen Lam Related News U.S. TV startup Roku to confidentially file for IPO: WSJ 4:39pm EDT RPT-Market Chatter- Corporate finance press digest – Oct 24 1:50am EDT Market Chatter- Corporate finance press digest – Oct 23 Wed, Oct 22 2014 Private capital gets more bang in China as economic reforms step up Wed, Oct 22 2014 Delphi Automotive looking to sell thermal unit for $1 billion: Bloomberg Wed, Oct 22 2014 Analysis & Opinion HP shareholder wants scrutiny of Wachtell role in controversial settlement Review: The worst of both Mao and markets (Reuters) – Hewlett-Packard Co ( HPQ.N ) has begun sounding out private-equity firms in China to buy its corporate-networking business in the country, the Wall Street Journal reported, citing people familiar with the situation. HP is expected to sell at least 51 percent of the business, H3C Technologies Co, which could be worth roughly $5 billion in a full sale, the business daily said. HP declined to comment on the report. The buyer likely needs to be based in China if the deal is to win Chinese government approval, the newspaper reported. Another Chinese technology company could also buy H3C, a major supplier of corporate data-networking gear in the country, although it is more likely to be sold to a private equity group, the Journal said, without naming any of the potential buyers. U.S. technology companies such as Cisco Systems Inc ( CSCO.O ), IBM Corp ( IBM.N ) and Microsoft Corp ( MSFT.O ) are facing challenges in China due to a backlash after revelations about U.S. government surveillance programs. HP, which wants to continue using H3C’s low-cost manufacturing, may retain a sizable minority stake in the business in any deal, the Journal said. (Reporting By Sudarshan Varadhan in Bangalore; Editing by Savio D’Souza ) Tweet this Link this Share this Digg this Email Print Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data
Facebook’s late Friday disclosure that a data analytics company with ties to the Trump campaign improperly obtained — and then failed to destroy — the private data of 50 million users is generating more unwanted attention from politicians, some of whom were already beating the drums of regulation in the company’s direction. On Saturday morning, Facebook dove into the semantics of its disclosure, arguing against wording in the New York Times story the company was attempting to get out in front of that referred to the incident as a breach. Most of this happened on the Twitter account of Facebook chief security officer Alex Stamos before Stamos took down his tweets and the gist of the conversation made its way into an update to Facebook’s official post . “People knowingly provided their information, no systems were infiltrated, and no passwords or sensitive pieces of information were stolen or hacked,” the added language argued. I have deleted my Tweets on Cambridge Analytica, not because they were factually incorrect but because I should have done a better job weighing in. — Alex Stamos (@alexstamos) March 17, 2018 While the language is up for debate, lawmakers don’t appear to be looking kindly on Facebook’s arguably legitimate effort to sidestep data breach notification laws that, were this a proper hack, could have required the company to disclose that it lost track of the data of 50 million users, only 270,000 of which consented to data sharing to the third party app involved. (In April of 2015, Facebook changed its policy, shutting down the API that shared friends data with third-party Facebook apps that they did not consent to sharing in the first place.) While most lawmakers and politicians haven’t crafted formal statements yet (expect a landslide of those on Monday), a few are weighing in. Minnesota Senator Amy Klobuchar calling for Facebook’s chief executive — and not just its counsel — to appear before the Senate Judiciary committee. Facebook breach: This is a major breach that must be investigated. It’s clear these platforms can’t police themselves.