German private-sector watchdog accuses Zalando of false advertising

A German private-sector competition watchdog has filed for an injunction against online fashion retailer Zalando, it said on Thursday, accusing the group of false advertising. The Centre for Protection against Unfair Competition said in a statement that Zalando had in its online shop misrepresented how many pieces of certain items of clothing were still available, creating the impression that customers needed to act fast to buy them.

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Internet firms must store usage data for one year: UK surveillance bill

Internet companies will have to store customer usage data for up to a year according to a new bill the British government will present to parliament on Wednesday, local newspapers reported. Britain's Investigatory Powers Bill, a renewed attempt to give security agencies powers to track online communications, will also tackle criticism from privacy campaigners by including assurances that any access of so-called Internet connection records would need judicial authorization, the Guardian said.

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British police make fourth arrest in TalkTalk cyber attack

British police have made a fourth arrest in connection with a cyber attack on telecoms company TalkTalk (TALK.L) in which the company said bank details of more than 20,000 customers were hacked. A 16-year-old boy from Norwich in eastern England was in custody and his address was being searched, London police said in a statement on Tuesday. TalkTalk shocked customers last month when the broadband, TV, mobile and fixed-line service provider said it had been hacked, potentially putting the private details of its 4 million customers into the hands of criminals

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China will work with U.S. on hacking, defend its interests: official

By Michael Martina BEIJING (Reuters) – China opposes Internet attacks and wants to work with the United States in cyberspace but will defend its interests, a senior Chinese official said on Thursday, after U.S. President Barack Obama warned of a forceful response to hacking

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EU, U.S. clinch data-sharing deal for security, terrorism cases: document

By Julia Fioretti BRUSSELS (Reuters) – The European Union and the United States have clinched a deal protecting personal data shared for law enforcement purposes such as terrorism investigations, according to a document seen by Reuters. The two sides have been negotiating for four years over the so-called “umbrella agreement” that would protect personal data exchanged between police and judicial authorities in the course of investigations, as well as between companies and law enforcement authorities.

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Mozilla says hackers stole information from Bugzilla

(Reuters) – Mozilla, creator of the popular Firefox web browser, said hackers had stolen security-sensitive information from Bugzilla, its bug tracker, and used it to “attack” Firefox users. The account that the hackers broke into was shut down shortly after the company discovered it had been compromised, the company said in a blog post. (http://mzl.la/1N7L9fC) (Reporting by Devika Krishna Kumar in Bengaluru; Editing by Maju Samuel)

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Google overhaul ‘shareholder friendly’ but details scarce

Google Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose. Analysts and investors have long sought more granular detail on Google's capital spending and cash flow, as well as the financial performance of YouTube and Android. Google said on Monday it would split into two reporting companies under a new holding company called Alphabet.

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Tech costs beat regulation, cyber as worries for financial services execs

IT costs came second only to macroeconomic concerns such as the impact of quantitative easing, according to the survey by global risk adviser Willis of senior executives at 150 banks, insurers, reinsurers, asset managers, hedge funds and financial technology companies worldwide. “There is a rise of new entrants that are using new technology,” said Mary O'Connor, global head of Willis' financial institutions group. “Banks know they need to respond to that.” Banks and insurers have been seen as slow in responding to new technology, leaving the door open for newcomers to steal market share.

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Deutsche Bank to launch three tech startup labs in 2015: source

By Thomas Atkins and Andreas Kröner FRANKFURT (Reuters) – Deutsche Bank aims to launch three technology innovation labs in Berlin, London and Silicon Valley this year designed to accelerate development of so-called “fintech” companies which could aid the banking sector and its clients. Germany’s largest lender, grappling with an overhaul of its own technology infrastructure, aims to get the three operations up and running by the end of the year, a source with knowledge of the matter told Reuters.

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