Apple Inc (AAPL) & Facebook Inc (FB): $320 Mln Settlement and New Privacy Settings

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Usually, Apple Inc (NASDAQ:AAPL) and Facebook Inc (NASDAQ:FB) are two some of the most popular companies that make the headlines pretty often following various announcements that might interest their clients. Of late, Facebook, the operator of the world’s largest Internet networking platform, has reported some changes related to its users’ privacy, and Apple Inc (NASDAQ:AAPL) went on everyone’s radars together with some other tech giants. In this article we will look in more detail at these two pieces of news.

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Recently, four tech giants among which are Apple Inc (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL) have agreed to settle a lawsuit with their employees, which have resulted in companies paying around $320 million, Reuters reports. Workes from the tech sector filed a lawsuit against their employeers who allegedly agreed not to hire each other’s workers in order to keep the salaries lower.  It is not known how much each of the about four tech companies that also include Cisco Systems Inc (NASDAQ:CSCO) and Adobe Systems Incorporated (NASDAQ:ADBE) would pay. However, what is clear is that while Apple Inc (NASDAQ:AAPL) will certainly bleed some cash, even though the initial lawsuit involved a much higher amount, a whooping $3.0 billion.

In another piece, Facebook Inc (NASDAQ:FB) reported about changing privacy settings for its users, which will have an impact on how we share stuff from now on. Earlier, when someone wanted to share a post, it became available for the public, while now, by default, the post will be available only for people on the users’ friends lists. However, users still will be able to change this setting and share their pictures or ideas with the entire world.

Eric Chemi of Bloomberg, stated that Facebook Inc (NASDAQ:FB) is finally “catching up 10 years later.” He also refers to a Pew Research survey, according to which, among the top reasons why users didn’t like Facebook was the fact that some information was shared with people who weren’t supposed to see that stuff.

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