Day: June 2, 2020

Twitter names ex Google CFO Pichette as chair, Kordestani to stay on

(Reuters) – Twitter Inc TWTR.O on Tuesday appointed Patrick Pichette, a former chief financial officer at Google, as the social network’s board chairman, marking the first time in Twitter’s history that an outsider will preside over the group.

FILE PHOTO: A 3D-printed logo for Twitter is seen in this picture illustration made in Zenica, Bosnia and Herzegovina on January 26, 2016. REUTERS/Dado Ruvic/File Photo

Pichette, who had been Twitter’s lead independent director since the end of 2018, will replace Omid Kordestani in leading the directors as chairman. Kordestani supervised the board and had more day to day involvement with the company as executive chairman for nearly five years.

Kordestani will stay on as a director, serving on the 11-member board alongside three new directors.

The move comes three months after Elliott Management, the $40 billion hedge fund, had sought to oust CEO Jack Dorsey, pushed for improved corporate governance and

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Google faces $5 billion lawsuit in U.S. for tracking ‘private’ internet use

(Reuters) – Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by pervasively tracking their internet use through browsers set in “private” mode.

FILE PHOTO: A 3D printed Google logo is seen in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

The lawsuit seeks at least $5 billion, accusing the Alphabet Inc (GOOGL.O) unit of collecting information about what people view online and where they do their browsing, despite using what Google calls Incognito mode.

Google had no immediate comment.

The complaint said Google surreptitiously collects data through Google Analytics, Google Ad Manager and other applications and website plug-ins, including smartphone apps, regardless of whether users click on Google-supported ads.

This helps the Mountain View, California-based company learn details about users’ friends, hobbies, favorite foods, shopping habits, and even the “most intimate

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Exclusive: China-owned Playtika hires banks for $1 billion U.S. IPO – sources

(Reuters) – Playtika Ltd, a mobile gaming company owned by a Chinese investor group, has hired investment banks to prepare for a U.S. initial public offering (IPO) that could raise around $1 billion, people familiar with the matter said on Tuesday.

Playtika’s preparations illustrate how some Chinese-owned companies continue to pursue U.S. listings, despite heightened scrutiny of their auditing standards by U.S. politicians and investors. Last month, the U.S. Senate passed a bill which, if enacted into law, would make U.S.-listed companies subject to inspection by the Public Company Accounting Oversight Board.

Playtika’s IPO would come amid a surge in demand for mobile gaming, as more consumers stay at home amid the COVID-19 pandemic.

Playtika has hired Morgan Stanley and other banks to underwrite the IPO and is aiming to go public either later this year or early in 2021, the sources said, cautioning that the timing, valuation and deal

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Europe’s Gaia-X cloud computing platform takes shape

BERLIN (Reuters) – A proposed European cloud computing platform that seeks to break the continent’s reliance on Silicon Valley will take shape in the coming weeks when a group of 22 French and German companies set up a legal entity to run it.

The entity managing the Gaia-X platform will be registered as a company under Belgian law and will function as a non-profit, according to a status update on the project seen by Reuters.

Berlin and Paris are championing Gaia-X as a counterweight to the U.S. cloud computing providers – AWS, Microsoft Azure and Alphabet’s Google – that dominate the business of handling computing tasks on remote servers.

The two largest economies in the European Union have cast the issue of where data is hosted and processed as a matter both of sovereignty and security. A launch for Gaia-X is targeted for early 2021.

Among firms involved in developing

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