Daily News Podcast: Jack Ma tells Mark Zuckerberg to fix Facebook : Bulletin: Business Today
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Daily News Podcast: Jack Ma tells Mark Zuckerberg to fix Facebook

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April 10, 2018

Alibaba's Jack Ma tells Mark Zuckerberg to fix Facebook
Jack Ma, founder of Chinese e-commerce giant Alibaba, on Monday urged Facebook Inc to resolve its data privacy problems, a day before the social media giant's founder, Mark Zuckerberg, was due to appear at US congressional hearings. "Right, it's like a social network, it's got two billion people using it! So all of the problems they did not realise came up! It is the time we fix it," he said.

PNB fraud: Gokulnath Shetty confesses he issued all LoUs
Former PNB deputy manager Gokulnath Shetty has confessed before the ED that he issued the first LoU to Nirav Modi in 2010 and that since then all LoUs worth Rs 13,700 crore were issued by him. However, he blamed Rajesh Jindal, who was GM of PNB's Brady House branch between August 2009 and May 2011, for directing the fraud, and prime accused Nirav Modi and his partner Mehul Chokshi for blackmailing him from 2010 to 2017, confirmed ED sources.

China says Hong Kong free to accept India's request to Nirav Modi
In what could be a huge relief for Indian agencies tasked with tracking down fugitive diamantaire Nirav Modi, China has said that Hong Kong, which is a Special Administrative Region (SAR) within China, can consider India's request to arrest the PNB fraud accused based on local laws and mutual judicial assistance agreements between Hong Kong and India.

In surprise move, Axis Bank CEO to step down by end of 2018
Axis Bank Ltd said on Monday that its long-time Chief Executive Shikha Sharma will step down at the end of 2018, days after the Reserve Bank of India was reported to have expressed concerns about the lender giving her a three-year extension. India's banking sector has been facing increased scrutiny amid record-high bad loan levels within the banking system, the discovery of a $2 billion scam at state-run Punjab National Bank and a slew of other issues.

Maharashtra government raises concern over low e-way bill generation
The states are leaving no stones unturned when it comes to compliance of the inter-state e-way bill, which came into force from 1 April. The Maharashtra State Tax department has issued a circular hinting that some transporters in the state might be transporting goods without e-way bill and therefore has asked the transporters to comply with the e-way bill provisions.

Facebook to tell users if their data was shared
Under fire globally for allowing the data breach, social media giant Facebook has started alerting the 87 million users, including 562,455 in India, whose data may have been compromised as the UK-based Cambridge Analytica pilfered them through an app. The US-based company will send a detailed message at the top of users' news feed, offering information on apps they use and the information they have shared with those apps. It will also tell people if their information may have been improperly shared with Cambridge Analytica.
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