Zuckerberg attacks US surveillance
Mark Zuckerberg, Facebook founder and chief executive, has strongly criticised the US government for dragging its heels on plans to reform its mass surveillance programme. In a post on the social network, Zuckerberg said he had called President Barack Obama to express his “frustration” over the damage the government is creating for “all of our future”. “Unfortunately, it seems like it will take a very long time for true full reform,” he said. Facebook has been part of a coalition of US tech companies, such as Google and Yahoo, which have expressed outrage at revelations that the National Security Agency accessed their services without permission.
Alibaba poised to opt for US listing
Alibaba is “95 per cent certain” to choose New York over Hong Kong for its initial public offering, expected to be one of the largest in history, according to people close to the process. The company is no longer “even engaged” with the Hong Kong exchange. A third person familiar with the situation said: “I can categorically tell you that Alibaba will not list in Hong Kong.”
McDonald’s faces lawsuits over pay
McDonald’s faces class-action lawsuits in three US states by employees who accuse the fast-food company and its franchisees of systematic wage theft. The suits were filed in Michigan, California and New York and announced on Thursday by the employees’ lawyers.
Liberty Global in Daisy takeover talks
Daisy Group has held talks with Virgin Mediaowner Liberty Global over a potential takeover deal worth at least £500m. Informal talks with Liberty Global and Virgin Media executives have taken place in recent months but it remains unclear whether the cable company will launch a formal bid.
Singapore to regulate bitcoin trades
Singapore will begin regulating virtual currency dealers such as bitcoin exchanges and vending machines, in order to address concerns they could be used for illegal activities. Dealers will have to report any suspicious transactions to authorities.
The Daily Telegraph
Fed looked into forex but failed to act
The Federal Reserve started looking into currency exchange rates in September 2012 before any other regulator sounded the alarm over their potential manipulation, but did not launch a formal probe until more than a year later.
Caring tees up £244m shopping spree
Richard Caring, one of London’s most successful restaurateurs, is set to embark on a West End shopping spree after amassing almost £250m through the sale of two of his non-core assets. Caring has sold his 25 per cent stake in North London’s famous Camden Stables Market in a deal that will make him around £100m.
THE WALL STREET JOURNAL
Amazon raises Prime to $99 a year
Amazon which has spent billions to grow into a retail and content-distribution force, is pushing some of those costs to its most loyal customers. Amazon announced a price increase for its US Amazon Prime service, lifting the annual fee to $99 (£60) from $79.
Sotheby’s rejects board candidates
Sotheby’s said yesterday its board rejected three director candidates nominated by activist investor Third Point and instead put forth two names of its own. Third Point last month nominated its chief executive in a push to change Sotheby’s operations strategy.