THE NEWS WRAP: Facebook moves to reassure users about privacy policy

In an attempt to address user concerns about how Facebook handles their data, the social media giant has shortened its privacy policy by two-thirds and has introduced an interactive tutorial called privacy basics, to help explain its policy.

In addition, Facebook is letting users opt out of certain advertisements across all devices.

Facebook chief privacy officer Erin Egan says the company hopes the updates help improve its users’ experience.

“Protecting people’s information and providing meaningful privacy controls are at the core of everything we do, and we believe today’s announcement is an important step,” she says.

“We look forward to hearing people’s feedback and continuing to build the trust people have in Facebook.”

Microsoft acquires Israeli cloud security startup

Microsoft has announced that it has acquired Aorato, which it describes as an innovator in enterprise security.

The startup’s technology uses machine learning to detect suspicious activity on a company’s network. Microsoft did not disclose the terms of the deal, but sources told TechCrunch that it was in the region of $200 million.

Microsoft corporate vice president, cloud and enterprise marketing Takeshi Numoto says the company made the acquisition to give customers a new level of protection against threats.

“With Aorato we will accelerate our ability to give customers powerful identity and access solutions that span on-premises and the cloud, which is central to our overall hybrid cloud strategy.”

Larry Page Fortune’s Businessperson of the Year

Google co-founder and CEO Larry Page has been selected as Fortune’s Business Person of the Year. The publication describes Page as the world’s most ambitious CEO, someone who is always encouraging his workers to aim higher.

Overnight

The Dow Jones Industrial Average is up 40.59 to 17,652.79. The Australian dollar is currently trading at US87 cents.

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