A software developer illegally collected more than 1.1 billion pieces of user information from Chinese e-commerce giant Alibaba, the Wall Street Journal reported, citing a Chinese court verdict. The developer, surnamed Lu, used web-crawling software he designed on Alibaba’s Taobao marketplace and gathered data such as user IDs and mobile phone numbers for eight months until Alibaba noticed the...
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The Briefing Markets Economy
Snap Sends Shiver Through Ad Stocks
Uh oh. Snap’s warning this afternoon that its second-quarter revenue and profits will be below what it projected just a few weeks ago, thanks to a faster than expected deterioration in macroeconomic conditions, is an ominous signal for the ad market. Snap had outperformed many of its digital ad peers, most obviously Meta Platform, Twitter and Pinterest, in revenue growth in recent quarters. If...
Zoom Shares Jump After Strong Earnings Report, Forecast
Klarna to Cut 10% of Global Workforce
Mark Zuckerberg Sued by D.C. Attorney General Over Cambridge Analytica Scandal
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