Business

Facebook has filed a federal lawsuit against oneAudience, a New Jersey marketing company, for illegally accessing users' personal information through a malicious software development kit. The company allegedly exploited the "login with Facebook" feature and collected data from multiple internet platforms without proper authorization.

Tech giant Apple receives special approval to open its first Indian store by 2021, ending a decade of selling through third-party retailers. CEO Tim Cook highlights India's unique market potential and demographic opportunity, with plans to launch both physical and online stores in the country.

Walt Disney Company's shares fell 2.1% in premarket trading following Bob Iger's unexpected CEO replacement with Bob Chapek. Analysts question Chapek's content experience, highlighting his background in parks and distribution rather than storytelling, which is central to Disney's core business model.

As the COVID-19 outbreak disrupts business operations, major Singaporean companies like CapitaLand and Temasek Holdings are implementing hiring freezes and salary cuts. Senior management is taking pay reductions to show solidarity and manage economic uncertainty during the pandemic.

The Philippine stock market experienced its deepest fall since 2016 due to coronavirus impact, with the PSE Index dropping 4.3% and major companies like Jollibee seeing significant stock declines. China's economic shutdown has contributed to market volatility.

Moderna Inc. has rapidly developed an experimental coronavirus vaccine, mRNA-1273, and submitted it to NIAID for Phase 1 clinical trials. The initial test will involve up to 25 healthy adults to assess immune response. Despite the promising start, experts estimate the full testing and approval process could take up to a year.

Walt Disney Co. announced Bob Iger's departure as CEO after 15 years, with longtime company insider Bob Chapek taking the helm. Iger, who transformed Disney through major acquisitions like Star Wars and Marvel, will remain executive chairman until December 2021, overseeing creative direction during the transition.

Equinor has abandoned plans to drill in the Great Australian Bight after determining the project was not financially competitive. The Norwegian oil giant was previously granted environmental approval for exploratory drilling at 2.5 kilometers depth along South Australia's coastline but chose to focus on more promising opportunities.

South Korea faces economic challenges as coronavirus cases surge from 31 to 833. The government has raised the virus alert to its highest level and is implementing strict quarantine measures. The outbreak threatens the country's trade-dependent economy, with impacts on domestic consumption and exports.

Japanese automaker Honda will halt production in its Laguna, Philippines plant by March, resulting in approximately 387 job losses. The company plans to maintain sales and after-sales services through its regional network, citing efficient resource allocation as the primary reason for the closure.