Facebook shareholders back proposal to remove Mark Zuckerberg as chairman : Bulletin: Business Today
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Facebook shareholders back proposal to remove Zuckerberg as chairman

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October 18, 2018

US says it could remove India from currency monitoring list

The US could remove India from its currency monitoring list of major trading partners, the Treasury Department has said, citing certain developments and steps being taken by New Delhi which address some of its major concerns. India for the first time was placed by the US in its currency monitoring list of countries with potentially questionable foreign exchange policies in April along with five other countries - China, Germany, Japan, South Korea and Switzerland. The Department of Treasury maintained the same monitoring list in its latest report released on Wednesday but said if India continues with the same practices as in the last six months, it would be removed from its next bi-annual report.

Facebook shareholders back proposal to remove Mark Zuckerberg as chairman

Four major U.S. public funds that hold shares in Facebook Inc on Wednesday proposed removing Chief Executive Officer Mark Zuckerberg as chairman following several high-profile scandals and said they hoped to gain backing from larger asset managers. State treasurers from Illinois, Rhode Island and Pennsylvania, and New York City Comptroller Scott Stringer, co-filed the proposal. They oversee money including pension funds and joined activist and original filer Trillium Asset Management. A similar shareholder proposal seeking an independent chair was defeated in 2017 at Facebook, where Zuckerberg's majority control makes outsider resolutions effectively symbolic.

PNB fraud: ED seizes over Rs 218 crore assets of Mehul Choksi, others

The Enforcement Directorate (ED) Wednesday seized assets worth over Rs 218 crore in the nearly Rs 13,000 crore loan fraud case probe, officials said. They said three provisional orders under the Prevention of Money Laundering Act (PMLA) were issued by the central investigative agency's zonal office in Mumbai for attachment of the properties in India and abroad. The beneficiaries of these assets put under attachment, they said, are absconding diamond jeweller Mehul Choksi, Mihir Bhansali, a close aide and US-based executive of main accused in the case Nirav Modi, and a company named A P Gems and Jewellery Park. The total value of the attached and seized assets is Rs 218.46 crore, they said.

Reliance Industries posts highest ever net profit of Rs 9,516 crore in Q2

Reliance Industries on Wednesday posted its highest ever net profit at Rs 9,516 crore in Q2 FY 19, up 17.35 per cent  (YoY). Mukesh Ambani-led oil-to-telecom conglomerate posted a 54.5 per cent rise in revenues to Rs 1,56,291 crore in the July-September quarter. Reliance Industries' telecom arm, Reliance Jio, reported standalone revenues of Rs 10,942 crore

Infosys posts best performance in 2 years on large deals, BFSI bounce-back

The second quarter results for Infosys were expected to be good and the company doesn't seem to have disappointed the analysts. Though there were many 'positive surprises' in the results, there were some 'negative surprises' too. But all in all, in comparison to the numbers over the past eight quarters or so, the results posted in Q2 are being seen as its best performance.

Facebook tentatively concludes spammers were behind recent data breach

Facebook Inc has tentatively concluded that spammers looking to make money, and not a nation-state, were behind the largest-ever data theft at the social media company, the Wall Street Journal reported on Wednesday. The people behind the attack were a group of Facebook and Instagram spammers that present themselves as a digital marketing company, and whose activities were previously known to Facebook's security team, the Journal reported. Last week, Facebook said that cyber attackers had stolen data from 29 million Facebook accounts using an automated program that moved from one friend to the next

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