Recode Daily: Target settles its massive security breach; Uber settles with drivers it forgot to pay

Target will pay $18.5 million to settle its massive 2013 security breach, which compromised the payment data of more than 40 million customers. [The Wall Street Journal]

Uber underpaid tens of thousands of New York City drivers for more than two years, and is refunding them the difference plus interest, which may cost more than $45 million. Meanwhile, the company’s general counsel for its Europe, Middle East and Africa operations stepped down just as Uber was hit with a regulatory blow in Europe that will force it to comply with taxi industry safety laws. [Johana Bhuiyan / Recode]

SoftBank has amassed a $4 billion stake in Nvidia. That means it owns 4.9 percent of the chipmaker, which means it doesn’t have to formally disclose the investment. [Ian King / Bloomberg]

Google will use transaction data from billions of credit and debit cards to show that online ads spur consumers to buy items in physical stores. The search giant also said that it plans to monetize Google Assistant— its answer to Apple’s Siri and Amazon’s Alexa — with a combination of ads and e-commerce transactions. [The Washington Post]

President Trump’s White House delivered a final budget proposal that slashes billions from federal science, health and research programs. And the Republican Party is pushing to relax the FCC’s hard-won robocalling rules, which would allow marketers — and politicians — to auto-dial consumers’ cellphones and leave voicemail messages. [Tony Romm / Recode]

Jimmy Fallon, Conan O’Brien and James Corden are among the TV talent coming to Snapchat Shows, part of Snap’s content play to reimagine TV for the mobile generation. [Andrew Wallenstein / Variety]

LeEco, the Chinese consumer electronics company that made grand announcements about its U.S. plans last fall, is laying off 75 percent of its U.S. workforce To be honest, this one seemed weird from the start. [Roger Cheng / CNET]

With the Code Conference less than a week away, the final group of speakers has been announced: Internet pioneer Steve Case, Twitter COO Anthony Noto and political maverick Evan McMullin will take their turns on the red chairs, along with New York Times executive editor Dean Baquet, philanthropist investor Laurene Powell Jobs and Hillary Rodham Clinton. [Peter Kafka / Recode]

Top stories from Recode

Before Facebook, Mark Zuckerberg built a chat network called ZuckNet.

He was dethroned by AOL, but Zuckerberg has been building products longer than we thought.

Why it matters that patent trolls won’t be able to force their cases in Texas.

In 1999, 14 patent cases were filed in the Eastern District of Texas. By 2015, that number grew to more than 2,500.

The future of the modern car is actually digital.

The technological and business model for autos is slowly but surely moving toward a software-and-services-focused approach.

This is cool

Reading is fundamental

[Trigger warning for Trump: This story contains references to reading, books, libraries and drag queens.] A New York branch library has started a Drag Queen Story Hour, with six-foot-plus Harmonica Sunbeam and other vivid entertainers reading aloud to pre-schoolers. Asked the main difference between story hour and an evening drag show, Ms. Sunbeam said jokingly, “I’m sober.” [Una LaMarche / The New York Times]

This article originally appeared on Recode.net.

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