Cambridge Analytica, the data-mining firm embroiled in a scandal over its work for president Donald Trump’s 2016 campaign, said it’s shutting down all operations effective immediately.
The firm said on Wednesday that it has begun insolvency proceedings in the UK and is also filing for bankruptcy in the US, according to a statement on its website.
The company said it lost "virtually all" customers and suppliers after the New York Times, The Observer and other publications reported Cambridge Analytica improperly obtained information from tens of millions of Facebook users. The breach helped the company develop political ads and other techniques that underpinned its work on Trump’s campaign, according to the New York Times.
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Read more:
Facebook says there may be more data leaks
'Nasty' social media needs reining in, Sir Tim Berners-Lee tells UAE summit
Cambridge Analytica scandal: UK tells tech giants to simplify data policies for users
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It’s unclear what effect, if any, the ads, which were targeted to individual users’ 'psychographics', had on actual voting, but the method that an academic working with Cambridge Analytica used to gather the Facebook data touched off a debate about how much information Facebook shares with third parties, and how it can be potentially used to manipulate views. Cambridge Analytica has denied any wrongdoing.
"Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas," the company said in the statement. "It has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the company into administration."
The company said that despite its "precarious financial condition," it plans to meet all its obligations to employees.
Days after the initial stories emerged, Cambridge Analytica suspended CEO Alexander Nix as the bad news piled up. Mr Nix was caught on camera, as part of a four-month undercover operation by Channel 4 News, boasting about the firm’s willingness to use bribes, entrapment with sex workers and other tactics to undermine political candidates.
Mr Nix had earlier told Bloomberg News that it was involved in as many as 10 campaigns for prime minister and president every year, including in Asia, Africa, Europe and South America. For one campaign in Latvia, according to documents given to prospective clients, the British affiliate of Cambridge Analytica, known as SCL Group, spread misinformation that was designed to stoke tensions between Latvians and ethnic Russians, blaming Russians for unemployment and helping a nationalist candidate to victory.
The scandal has caused significant problems for Facebook as well, which estimates that as many as 87 million users may have been affected. The company spent weeks explaining, apologising and adding more privacy features to the service and faced both a #deleteFacebook campaign and lengthy congressional hearings for Chief Executive Officer Mark Zuckerberg. However, Facebook is so large and powerful that the outcry has so far had little impact on its business. The company last week reported quarterly revenue that topped analyst estimates.
More from Rashmee Roshan Lall
Ain Issa camp:
- Established in 2016
- Houses 13,309 people, 2,092 families, 62 per cent children
- Of the adult population, 49 per cent men, 51 per cent women (not including foreigners annexe)
- Most from Deir Ezzor and Raqqa
- 950 foreigners linked to ISIS and their families
- NGO Blumont runs camp management for the UN
- One of the nine official (UN recognised) camps in the region
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Honeymoonish
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Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Fringe@Four Line-up
October 1 - Phil Nichol (stand-up comedy)
October 29 - Mandy Knight (stand-up comedy)
November 5 - Sinatra Raw (Fringe theatre)
November 8 - Imah Dumagay & Sundeep Fernandes (stand-up comedy)
November 13 - Gordon Southern (stand-up comedy)
November 22 - In Loyal Company (Fringe theatre)
November 29 - Peter Searles (comedy / theatre)
December 5 - Sinatra’s Christmas Under The Stars (music / dinner show)
UAE currency: the story behind the money in your pockets
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
match info
Chelsea 2
Willian (13'), Ross Barkley (64')
Liverpool 0
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
HEADLINE HERE
- I would recommend writing out the text in the body
- And then copy into this box
- It can be as long as you link
- But I recommend you use the bullet point function (see red square)
- Or try to keep the word count down
- Be wary of other embeds lengthy fact boxes could crash into
- That's about it
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
SWEET%20TOOTH
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
