Global Crossing sale set at 250 million to Asian investors
Global Crossing approved for sale to Hutchison Whampoa and Singapore Technologies for 250 million in cash plus 300 million cash and 200 million notes to creditors. Investors gain 61.5 percent control. lenders 6 percent and unsecured creditors 32.5 percent. Stockholders receive nothing.
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Microsoft Passport security checks extend two decades
The FTC requires Microsoft to undergo regular security audits for 20 years after determining the company deceived consumers about personal data protection. The action adds formal, measurable security obligations beyond public shaming and industry appeals.
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