President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Facebook will pay upward of $40,000 to people who catch large data leaks.
The company announced a bounty program on Tuesday which would reward people who find cases of data abuse on its platforms. Payouts start at $500, and people can receive more than $40,000 for big discoveries. The data abuse program is the first of its kind in the industry.
"It will help us find the cases of data abuse not tied to security vulnerability. ... This will cover both hemispheres, and help surface more cases like Cambridge Analytica so we can know about it first and take action," Facebook's chief security officer, Alex Stamos, told CNBC.
Cases that are brought to Facebook's attention and submitted with evidence will be vetted by its bug and data abuse bounty team. The company will investigate the report and decide what action to take. Possible scenarios include shutting down the app, suing the data leaker or conducting an onsite audit of the company selling or buying unauthorized data.
The company currently has 10 people on the bug bounty team, but plans to hire more people and involve other teams in order to investigate substantiated claims.
To be eligible, the case must involve at least 10,000 Facebook users, show how data was abused (not just collected) and Facebook must not have been aware of that specific issue before. Companies that scrape data, anyone who uses malware to get people to install apps, social engineering projects and non-Facebook cases on its other platforms like Instagram are not eligible. It is open to expanding the program down the road.
"A door is always open if a whistleblower wants to say there's something sketchy here," Facebook's head of product security, Collin Greene, said to CNBC.
Facebook first announced its intention to launch a data abuse bounty program in late March in response to the Cambridge Analytica data leak scandal. The data analytics firm was able to use unauthorized data from a psychology quiz intended for academic purposes only to target potential voters during the 2016 U.S. presidential election. Cambridge Analytica and the creator of the app, Aleksandr Kogan, have denied the accusations.
The data abuse bounty program is based off its current bug bounty program, which pays people who find security flaws on its platforms. Faecbook pays out over $1 million on average a year in bug bounties, executives said.