Afternoon Coffee: Pandit leaves Citigroup; Amazon's Advertising; Google's Privacy Practices
Pandit has left Citigroup
Pandit Steps Down as Chief of Citigroup –
Citigroup’s board said on Tuesday that Vikram S. Pandit had stepped down as chief executive, effective immediately, and would be succeeded by the head of the bank’s European and Middle Eastern division, Michael L. Corbat. His resignation comes after long-simmering tensions with the bank’s board. In particular, the board’s chairman, Michael E. O’Neill, had been increasingly critical of Mr. Pandit’s management, according to several people close to the bank…
Will Amazon become the next advertising giant?
Amazon’s Next Big Business Is Selling You –
Facebook knows who your friends are. Google knows what you’re interested in finding on the internet. Amazon knows what you’ve bought, and has a pretty good idea of what you might want to buy next. If you were an advertiser, which company’s data sounds most valuable to you? If you had a product you wanted to sell, which of those things would you most want to know?…
Shape up or ship out.
EU Privacy Watchdogs Blast Google’s Data Protection — PARIS–Privacy watchdogs from 27 European Union countries said Google Inc.’s privacy practices don’t comply with Europe-wide data-protection rules and called on the Internet giant to give users more control over personal data culled from its search engine and other services. In a report released Tuesday, the government agencies said that Google should offer more detailed information about what it does with users’ personal data, specify how long it keeps their data and create simpler tools to allow users to opt out of having information from various Google services, such as maps and YouTube, combined for purposes such as targeted advertising…
Coca-Cola’s idea of a sugar boost
Coca-Cola’s Profit up Even as Sales Disappoint –
The Coca-Cola Co. has a formula for growth in the volatile economic climate: sell more of its drinks in emerging markets and evolve its stable of products at home, where concerns over sugary drinks are intensifying. The world’s biggest beverage maker, which makes Sprite, Fanta and Dasani water, said the strategy helped it sell more of its drinks in every region during the third quarter, with global sales volume up 4 percent. But the Atlanta-based company was nevertheless hit by unfavorable currency exchange rates as well as pressures to keep price hikes in check, particularly in economically hard-hit regions in Asia and Europe…
– Brianna Tonner
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