World markets mixed, US futures up … Britain fines Facebook … Cathay Pacific personal data breach
BANGKOK (AP) – Stock prices have been mixed today in early European trading as markets settle somewhat after steep declines in Asia and the U.S. spurred by worries over trade and the U.S. economy. In early trading Britain’s FTSE 100 lost 0.3 percent while Germany’s DAX added 0.1 percent and the CAC 40 in France climbed 0.7 percent. Japan’s Nikkei 225 index swooned 3.7 percent. Hong Kong’s Hang Seng index ended 1 percent lower. Futures for the Dow and the S&P 500 are higher, suggesting a likely revival of buying sentiment.
LONDON (AP) – Britain’s Information Commissioner has slapped Facebook with a fine of 500,000 pounds ($644,000) – the maximum possible – for its behavior in the Cambridge Analytica scandal. The ICO’s investigation found that between 2007 and 2014, Facebook processed the personal information of users unfairly by giving app developers access to their information without informed consent.
HONG KONG (AP) – Hong Kong-based Cathay Pacific Airways says it’s discovered unauthorized access to the personal data of 9.4 million passengers but has no evidence the leaked information has been misused. The airline says the breach was discovered during “ongoing security processes.” Hong Kong’s privacy commissioner says his office will begin a compliance check of the airline and he urges customers to change their passwords and enable “two-factor authentication.”
HELSINKI (AP) – Telecom networks provider Nokia has reported lower third-quarter earnings and says it will start a new cost-cutting plan as it waits for demand for the new 5G systems to pick up. The Finnish company says its net profit for the July-September period stood at 309 million euros ($352 million), down from 516 million euros a year earlier. Sales were nearly flat at 5.5 billion euros.
BRATISLAVA, Slovakia (AP) – Jaguar Land Rover is opening a new its first plant in continental Europe. The $1.6 billion plant will be in Slovakia. Land Rover initially plans to produce 150,000 vehicles a year. The Slovak government is giving the carmaker investment subsidies of up to 130 million euros ($148 million). Slovakia is a regional car-making powerhouse. Germany’s Volkswagen, France’s PSA Peugeot Citroen and South Korea’s Kia Motors Corp. all have a major plant in the country.