Facebook Photo-Scanning Suit Becomes Multibillion-Dollar Threat

Facebook Photo-Scanning Suit Becomes Multibillion-Dollar Threat

The last thing Facebook Inc. needs is another privacy headache — and it now has a big one. A federal judge ruled Monday that millions of the social network's users can proceed as a group with claims that its photo-scanning technology violated an Illinois law by gathering and storing biometric data
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Coinbase Buys Crypto Payments Firm, Gets First Technology Chief

Coinbase Inc. purchased Earn.com, a business that allows users to get paid in digital currency when they respond to emails and complete certain tasks. Earn.com co-founder and Chief Executive Officer Balaji Srinivasan, who was previously general partner at Andreessen Horowitz, will join Coinbase as
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Banking heir Matthew Mellon dies in rehab facility

Banking heir and cryptocurrency bigwig Matthew Mellon has died, a representative for his family said in a statement. Mellon, an early backer of global settlement network Ripple, was the ex-husband of Jimmy Choo guru Tamara Mellon and of designer Nicole Hanley, his second wife.
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Crowdfunding platform DiversyFund plans $50M investment in multifamily, commercial real estate

According to the company, it has already identified several initial investments for the fund, including a 58-unit multifamily housing project with 5,000 square feet of commercial space in San Diego's Hillcrest neighborhood and a 3-unit student rental property located near the University of San Diego.
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Google Occupies an Odd Role in Enforcing Privacy Laws. A Businessman's Landmark 'Right To Be …

Google lost a landmark, “right to be forgotten” case at the end of last week, with the High Court in London ruling that it had to delist from its search results articles relating to a businessman's past crimes. But the ruling does not put Google in a bad light, as such. Rather, it highlights that the company,
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Here's one of the most horrifying stats we've heard yet in the banking royal commission

Three-quarters of financial advice in Australia doesn't comply with the in the “best interest” of customers test, according to numbers compiled by the corporate watchdog ASIC. And the figures gets worse for setting up self-managed super funds, with 9 out 10 advisers not considering the best interests of
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Equilend opening new office in Dublin

The securities finance service provider already has offices in New York, London, Hong Kong and Toronto. Laurence Marshall, COO and head of EquiLend Europe, said: “EquiLend has chosen Ireland, subject to regulatory approval, to be the location for its new EU office, to ensure continued access to
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Building blocks for a housing recovery

There is a wearying familiarity to much of the current discussion around house prices and availability. … While the economy may have recovered, we are still living with the consequences of the financial crash and it is in our currently dysfunctional housing market where the post-crash effects are being felt
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The ECB wants Deutsche Bank to work out how much it would cost to quit investment banking

FRANKFURT (Reuters) – Deutsche Bank has been asked by European Central Bank supervisors to calculate the potential costs of winding down its investment banking operations, a source told Reuters on Sunday. Germany's biggest lender has been calculating the financial effects of a potential move to
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Shizuoka Bank conducts AI tests to enhance corporate lending services

Japan's financial services industry continues to be at the forefront of adoption of artificial intelligence (AI) solutions. Earlier today, Shizuoka Bank Ltd (TYO:8355) announced that it will conduct an experiment using AI technology in an effort to enhance its corporate lending services. The experiment will run
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LG Fortune 2 Lands On Cricket Wireless

LG has launched a new budget smartphone on Cricket Wireless, the LG Fortune 2. The handset will be available with the carrier for just $99.99. The handset comes with a 5 inch display with a HD resolution of 1280 x 720 pixels and it features a quad core processor clocked at 1.4GHz. The device has
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Manchester Money launches into regulated lending with new director

“Manchester has all the attributes and qualities you would expect from a major metropolitan city and I can think of no better team than Chris and Adele to help grow the brand”. London Money has appointed Chris Barker as director of Manchester Money – its new, directly authorised regional partnership.
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SEC opens probe into Guggenheim over real estate transactions

At issue for the SEC's enforcement division are three Los Angeles-based real estate transactions and a 2016 loan made by ABS Capital, which is owned by two Guggenheim alums, to BCBG Max Azria Group, The Wall Street Journal first reported, citing sources. The regulators are seeking documents
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Average homeowner earns enough by today to pay 2018 mortgage

“Ishaan Malhi, chief executive of online mortgage broker Trussle, says: “Mortgage Freedom Day is a great reminder of just how crucial it is to think about your mortgage. Some homeowners will probably be alarmed to find out how much of their working life is spent earning enough to pay for their home.”.
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IDS Adds Hybrid eClosing Capabilities to Its Mortgage Doc Prep Platform

SALT LAKE CITY, Utah, April 16, 2018 (SEND2PRESS NEWSWIRE) — Mortgage document preparation vendor International Document Services, Inc. (IDS), announced that its clients now have the capabilities to conduct hybrid electronic mortgage closings through its flagship mortgage document
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Ephesoft Unveils Mortgage Smart Document Capture Platform

Ephesoft, developer of supervised machine learning-based document capture and analytics solutions, has announced availability of Ephesoft Transact for Mortgage. The new solution is a cloud-based modular platform pre-trained to recognize and classify more than 600 mortgage document types,
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New York's Commercial Property Market Comes Storming Back

Google's $2.4 billion purchase of the Chelsea Market building, one of the highest-priced office sales in the city's history, helped those numbers. But other large deals also closed, such as the $700 million acquisition of the 3.25-acre St. John's Terminal site by Oxford Properties Group and Canada Pension
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Tsipras Fights on All Fronts as Greece Is Back in the Spotlight

Consider what Greek Prime Minister Alexis Tsipras is up against. As Greece prepares to free itself from an eight-year European bailout, its 43 year-old premier is confronting challenges at home and abroad. On the domestic front: preparations for post-bailout economic life and the first general election
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International investors dominate Glasgow office market during record year

International investors ploughed £300m into Glasgow's office market in 2017, significantly outgunning domestic buyers during the city's busiest 12 months for office investment since the financial crash, according to property consultancy JLL. A total of £461 million was spent across 23 office deals in 2017,
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Home renovations lending at three-year low as investors slow, caution grows

Lending for home renovations dropped to its lowest level in three years in February as investors spent less on properties, affordability increased and concerns about growing debt levels likely acted as a further brake. Credit for housing alterations and additions dropped nearly 11 per cent to $337 million
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