Ericsson Will Take A $1.2B Hit On Decline Of ST-Ericsson Chip JV; Confirms It Won’t Buy STMicro’s Stake
Earlier this week European Commissioner Neelie Kroes spoke in platitudes about how the EU would be putting more effort into kick-starting the region's hardware industry -- to create the 'Airbus of chips.' Her words seem particularly ironic (and possibly more empty) today, as the world's largest telecoms company, Ericsson, admitted it would have to take a writedown of $1.2 billion (8 billion Swedish crowns) related to the decline of its European chip JV ST-Ericsson, as it tries to figure out what to do next with the loss-making business.
Facebook Turns Off Facial Recognition In The EU, Gets The All-Clear On Several Points From Ireland’s Data Protection Commissioner On Its Review
The ongoing investigation into Facebook's transparency on user data and privacy by Ireland's Data Protection Commissioner has come to a positive conclusion for the social network. The DPC, whose decisions had wider-ranging implications for all of Facebook's business in Europe, had made several recommendations earlier in the year to bring Facebook's policies in line with that of data protection regulations in the region. And it has now officially announced that "the great majority of the recommendations have been fully implemented to the satisfaction of this Office." Key to Facebook's success is that it is turning off its facial recognition features, also known as "Tag Suggest": This feature has already been turned off for new users in the EU, the DPC notes, "and templates for existing users will be deleted by 15 October."