Wednesday, August 28, 2019

PEs exit Micromax via buyback, valuation crashes 93% in 4 years

PE players are selling 6.9% in the company for Rs 93.65 crore to the promoters, whose holding will increase to more than 85%, Micromax said in its latest regulatory filings. https://ift.tt/2MIxofE https://ift.tt/eA8V8J

Bigger bite: Apple to sell directly in India through online first

The webstore is likely to come up over the next 3-5 months as it involves duplicating its global online store template for the Indian market, said the executives who are aware of Apple’s plans. https://ift.tt/2Znzjg7 https://ift.tt/eA8V8J

Federal grand jury indicts Paige Thompson on two counts related to the Capital One data breach

The Department of Justice said today that a federal grand jury has indicted software engineer Paige Thompson on two counts related to the Capital One data breach that affected over 100 million customers. The charges in the indictment carry penalties of up to 25 years in prison. Thompson will be arraigned in U.S. District Court in Seattle on Sept. 5.

Thompson allegedly created created software that allowed her to see which customers of a cloud computing company (the indictment does not name the company, but it has been identified as Amazon Web Services) had misconfigured their firewalls and accessed data from Capital One and more than other 30 companies.

Much of the information in today’s indictment was already included in the FBI’s criminal complaint filed in July. In the indictment, however, the Department of Justice includes the new allegation that Thompson used the cloud servers she allegedly breached for cryptojacking. Though Thompson had previously made references to cryptojacking, or stealing someone else’s processing power to mine cryptocurrencies, in Slack messages reported by Forbes, today’s indictment does not contain new evidence about why the Department of Justice is making those claims.

Research has found that cryptojacking may be on the rise, in part because many organizations do not have adequate security measures in place.

In its statement, the Department of Justice said it has identified some of the victims of the data breach, including a state agency and a public research university located outside Washington state and a telecommunications conglomerate outside of the U.S. The indictment did not name the victims, but security firm CyberInt has said that Vodafone, Ford, Michigan State University and the Ohio Department of Transportation may all be victims of the data breach, which also included 106 credit card applications and files copied from a cloud server by Thompson.

Galaxy Note 10 Plus vs iPhone XS Max: How cameras of two of the world's most-powerful phones compare

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ETtech Top 5: No ecomm data in proposed privacy bill, Micromax valuation crash & more

A closer look at today's biggest tech and startup news and why they matter. https://ift.tt/32gmgdD https://ift.tt/eA8V8J

Amazon India gross sales to hit $32B in 4 years: Report

Among the international markets of Brazil, Mexico, Turkey and Australia, India would have the highest contribution to Amazon’s online sales. It is the largest factor among the ‘big five’ countries mentioned in the note. https://ift.tt/2HttuCP https://ift.tt/eA8V8J

Global retailers to gain from easier single-brand FDI rules

While the present policy mandates that a single-brand retail company that has more than 51% FDI in India has to source 30% locally of the total value of goods sold in the country, the changed norms will allow it to include exports as well. https://ift.tt/2ZxCj99 https://ift.tt/eA8V8J

Jambos Picks raises $23M seed for its AI-based sports bet recommendations service that offers refunds to subscribers if recommendations are not profitable (Kieran McQuilkin/American Inno)

Kieran McQuilkin / American Inno:
Jambos Picks raises $23M seed for its AI-based sports bet recommendations service that offers refunds to subscribers if recommendations are not profitable  —  A big name, a risky market and a bold guarantee.  Ex-MLB pitcher Michael Schwimer has the makings of a fascinating D.C. startup on his hands.



Indictment of the Capital One hacker alleges that she used exploited servers of Capital One and those of over 30 other companies to mine cryptocurrency (James Thorne/GeekWire)

James Thorne / GeekWire:
Indictment of the Capital One hacker alleges that she used exploited servers of Capital One and those of over 30 other companies to mine cryptocurrency  —  A federal grand jury indicted Paige Thompson, a former Amazon engineer, on multiple counts of wire fraud and computer fraud on allegations …



MeitY against ecomm data in Privacy Bill

MeitY’s response to DPIIT will also clarify the point that the PDP Bill will only address privacy and security issues related to personal data and not information in the public domain. https://ift.tt/32gizVj https://ift.tt/eA8V8J

Redmi Note 8 Series, Redmi TV, RedmiBook 14 Refresh Set to Launch Today

Xiaomi is all set to launch its Redmi Note 8 series, Redmi TV, and refreshed RedmiBook 14 laptop today in China. https://ift.tt/2Zxbqyb

Alphabet’s legal chief, David Drummond, comes under the spotlight following new allegations about his personal conduct

Alphabet Chief Legal Officer David Drummond is at the center of a media firestorm, following a new Medium post authored by a former Google employee who was engaged in a years-long relationship with Drummond more than 10 years ago.

Though the extramarital affair was originally reported on last fall by the New York Times in the broader context of Google’s permissive workplace culture, the former employee, Jennifer Blakely, says in a new and far more detailed account of their relationship that Drummond was a serial philanderer, leaving his wife for Blakely, then leaving Blakely and the son that he fathered with her for another now-former Google employee.

She adds that Drummond also had “an affair with his ‘personal assistant’ who he moved into one of his new homes.”

We reached out to Google, asking for comment either from the company or Drummond, and have yet to hear back.

It’s an enormously unflattering portrait and it comes at a delicate time for Google, which found itself at the center of the #metoo movement last year, after the Times revealed that another former executive, Andy Rubin, had been awarded a handsome exit package following a sexual misconduct claim that the company reportedly found credible.

In addition to accusing Drummond of neglecting her, Blakely also accuses him of being an absentee parent to the child who she suggests they tried for years to have, writing that “[m]onths or years would go by where he wouldn’t see [their son] or respond to my calls or texts with updates and pictures of him or even ask how he was doing, let alone how he might help out, knowing full well I was alone and in desperate need.”

Elsewhere in her post, Blakely says that following a custody battle over the boy that she won when he was four-and-a-half-years old, “David began providing ample child support.”

According to several sources familiar with the situation, it’s more nuanced than Blakely describes and it was not a particularly happy union, though these same individuals acknowledge that much of her account is true. Drummond, who was Google’s general counsel back in 2001 when they met, was married when he began an affair with Blakeley, who’d been hired into Google’s legal department as a senior contracts manager. Though Google merely discouraged managers from having affairs with subordinates at the time (it wasn’t against the company’s code of conduct), when Drummond finally told the company in 2007 that Blakeley was pregnant with his child, she was moved into a role in the company’s sales department, far from the company’s legal department.

Blakely writes she had “zero experience in sales” and that it was a hard transition to make: “I did my best to keep up but I was floundering and became depressed at work.”

She left the company roughly one year later, in 2008. She says she and Drummond and their son were living together by that time, adding that seven months later, he broke up with her via text, saying he was “never coming back” to their shared home.

“And he didn’t,” she writes.

Drummond’s star has continued to rise at Google, where he has now spent 17 years and currently serves as its senior vice president of corporate development, as well as the chief legal officer for Google’s parent company, Alphabet.

Google has made numerous changes in the face of criticisms that male executives at the company have not faced consequences in the past for sexual misconduct at work — criticisms that boiled into anger, then walk-outs by tens of thousands of Google employees.

Among them: Google no longer force employees to settle disputes with the company in private arbitration, including in cases of sexual harassment or assault; employees can now lodge complaints relating to harassment and other misconduct via a dedicated website; an and they can bring colleagues to support them to meetings related to investigations.

Still, Google has never commented specifically on Blakely’s allegations and it will be curious to see if this newest salvo forces its hand.

The affair, and others at the company, don’t seem to have forced dramatic changes to its official code of contact, in any case.

According to a section titled: “Friends and Relatives; Co-Worker Relationships,” it cautions employees  that “romantic relationships between co-workers can, depending on the work roles and respective positions of the co-workers involved, create an actual or apparent conflict of interest. If a romantic relationship does create an actual or apparent conflict, it may require changes to work arrangements or even the termination of employment of either or both individuals involved. Consult Google’s Employee Handbook for additional guidance on this issue.”

BJD MP Pinaki Misra questions TikTok on exclusive contracts

Misra had earlier called for stringent regulation of these platforms in the parliament https://ift.tt/2ZkZRid https://ift.tt/eA8V8J

Tuesday, August 27, 2019

Redmi Note 8 Pro Full Specifications Leaked Ahead of Tomorrow's Launch

The table suggests that the Redmi Note 8 Pro will come with Android 9 Pie, Helio G90T SoC, up to 128GB storage, 4,500mAh battery, and weighs 199 grams. https://ift.tt/2L2lGuh

Oppo Set to Make India a Global Export Hub

Oppo that is currently producing close to 50 million units and aims to double the capacity to 100 million units by 2020 will make India a global export hub, Sumit Walia, Vice President, Product and... https://ift.tt/2L8s9m8

A profile of US District Court judge Amit P. Mehta, who is presiding over the US v. Google case, which could set a precedent for other US tech antitrust cases (Steve Lohr/New York Times)

Steve Lohr / New York Times : A profile of US District Court judge Amit P. Mehta, who is presiding over the US v. Google case, which coul...