Businesses May Face Fines of 2pct of Sales For Breach of New E.U. Privacy Law

The EU overhaul would also clamp down on data lapses such as Sony Corp.’s six-day delay in warning customers about a cyber attack that exposed more than 100 million customer accounts, the second-largest online data breach in U.S. history.Industry groups with members including Microsoft Corp. and Google Inc. have warned against overly strict data-privacy rules that may stifle innovation.