Facebook Under Pressure Over Data And Privacy Issues

Enlarge this image

Leading Democrats in the U.S. Senate also called on Zuckerberg to testify. Sen. British members of Parliament are summoning Zuckerberg too.

Investors are taking the matter seriously.

A figurine is seen in front of the Facebook logo in this illustration taken on March 20. Almost $50 billion of market value was wiped out in two days.

According to Politico, the Trump camp is now trying to distance itself from the company following revelations that it misused millions of Facebook users' information, plus incriminating undercover recordings which show the executives boasting of their ability to manipulate elections and even blackmail political opponents.

Prasad alleged that Congress party had links with Cambridge Analytica.

There's even a swell of search interest in "how to delete your Facebook account", although experts doubt Facebook will actually lose many users as a result.

In the wake of the damning stories, there may be multiple government investigations into Facebook's privacy practices.

Officials in the USA states of MA and NY announced they were sending a "demand letter" to Facebook for the facts of the case. It said it had no indication of a formal investigation.

Sell-Side Sees Upside & Positive Growth in Starbucks Corporation (NASDAQ:SBUX)
Total volume is the number of shares or deals that point towards the overall activity of a security or market for a given period. Earnings per Share (EPS) are the part of a company's profit allocated to respectively outstanding share of common stock.

Nix was suspended by the company shortly before the video was broadcast.

However, given his academic status, Kogan's apparent decision to transfer Facebook data for commercial ends in violation of the social network's policies could yet have explosive consequences, not least because researchers might find it more hard to get Facebook - and its users - to agree to hand over the data for research alone. It then used this data to predict voting behavior. This feature revolves around the social part of Facebook - it's the tech which means you might be flagged as a fellow reader of a certain book, a brand devotee, or someone who also plays a game.

Facebook, like any big company, would rather avoid government regulation.

"What matters for this stock, at this time, are the headlines", wrote analysts at Macquarie Capital. Cambridge Analytica should have deleted the outside developer's data, but it didn't.

The uproar over Cambridge Analytica, the data firm that consulted on Trump's campaign, has sparked new questions about how Zuckerberg could allow his network to be abused again for political ends. That breached Facebook's rules.

Facebook says most of this data is already available in your account and activity log, but it also includes information on ads you have clicked on and the IP addresses you've used. But a former contractor, Christopher Wylie, disputes that. In footage released Monday, Nix said the company could "send some girls" around to a rival candidate's house, suggesting that girls from Ukraine are lovely and effective in this role. "I must emphatically state that Cambridge Analytica does not condone or engage in entrapment, bribes or so-called "honeytraps", and nor does it use untrue material for any purposes". They are also examining Facebook's response to the unauthorized use of its data. The election was reportedly the subject of many irregularities.

Cambridge Analytica said it does not engage in bribery or entrapment and said the Channel 4 News report was a misrepresentation of how the company conducts its business. "Nix's recent comments secretly recorded by Channel 4 and other allegations do not represent the values or operations of the firm and his suspension reflects the seriousness with which we view this violation", the company said. It says he then violated its policies by passing the data to Cambridge Analytica.

Related:

  • Cristiano Ronaldo tax evasion: 3.8m settlement offer rejected

    Cristiano Ronaldo tax evasion: 3.8m settlement offer rejected

    He added: "We also have to understand that Ronaldo has brands, there's an industry, China is the biggest country in the world". Even at an advanced age, he may well be able to pick up a much higher salary in the CSL than he would by remaining in Europe.
    General Mills Gets Crushed by Q3 Results, Guidance

    General Mills Gets Crushed by Q3 Results, Guidance

    Credit Suisse Group reissued a "hold" rating and issued a $55.00 target price on shares of General Mills in a report on Tuesday. The stock is now moving below its 20-Day Simple Moving Average of -3.6% with a 50-Day Simple Moving Average of -9.79 percent.
    Man United star: Mourinho has won everywhere he's been

    Man United star: Mourinho has won everywhere he's been

    And Neville claims Mourinho is using Shaw as a scapegoat to hide United's failings this time campaign. As an attacking full-back, the boy had so much going for him.
  • Saudi Arabia's crown prince meets Trump

    Saudi Arabia's crown prince meets Trump

    During yesterday's dinner with Jared Kushner, the president's son-in-law and senior adviser; Jason D. And the relationship is probably the strongest it's ever been.
    Buhari writes German Chancellor, Merkel on her re-election

    Buhari writes German Chancellor, Merkel on her re-election

    German Chancellor Angela Merkel paid a one-day visit to Warsaw on Monday for talks with the Polish prime minister and president. Mr Varadkar was speaking following a meeting with Germany's Chancellor Angela Merkel in Berlin on Tuesday.
    YES! YES! Daniel Bryan Medically Cleared To Return To In-Ring Action

    YES! YES! Daniel Bryan Medically Cleared To Return To In-Ring Action

    SmackDown Live comes hot out of the gate in its first hour by featuring some of the best performers the show has to offer. Much like her previous attempt, she thought Charlotte was down, but this time she actually handed the ref the briefcase.
  • What Is Automatic Data Processing Inc's (NASDAQ:ADP) Share Price Doing?

    Bonarti Michael A had sold 28,930 shares worth $3.53M on Tuesday, January 23. 118 funds opened positions while 525 raised stakes. Maryland-based Price T Rowe Assocs Inc Md has invested 0.01% in Hercules Capital, Inc. (NYSE:NYCB) for 339,389 shares.
    YouTube Reportedly Increasing Ads Before Music Videos to Encourage Paid Subscriptions

    YouTube Reportedly Increasing Ads Before Music Videos to Encourage Paid Subscriptions

    It's one thing to subtly "force" your customers into the new service, but it's a whole different story if you say it out loud. He said: "Once we do that, trust me, all that noise will be gone and articles people write about that noise will be gone".

    TSLA) — Tesla Inc (NASDAQ

    It has outperformed by 27.73% the S&P500. 149.96 million shares or 1.10% less from 151.63 million shares in 2017Q2 were reported. The VanEck Vectors Semiconductor ETF (SMH), which tracks semiconductor stocks, fell 1.4 percent after reaching an all-time high.
  • Trading Statistics of United Technologies Corporation (UTX)

    Inc. now owns 1,080 shares of the conglomerate's stock valued at $125,000 after buying an additional 953 shares during the period. Amer Natl Registered Invest Advisor Inc has 0.44% invested in United Technologies Corporation (NYSE: UTX ) for 7,555 shares.
    Modern Warfare 2 Remastered Pre-Order Date Reportedly Leaked by Amazon Employee

    Modern Warfare 2 Remastered Pre-Order Date Reportedly Leaked by Amazon Employee

    Having the price cut nearly in half for the MW2 Remastered would support that the game is not the full game remastered . The speculation on whether Activision will release a remastered version of Modern Warfare 2 is reaching fever pitch .
    Jamie Redknapp claims Jose Mourinho no longer trusts Man United star

    Jamie Redknapp claims Jose Mourinho no longer trusts Man United star

    Pogba has been linked with a potential exit at the end of the 2017-18 season after falling out of favour under Mourinho. Asked if Shaw can fight his way back into Mourinho's plans, Young said: "Yes, of course".

Comments

Latest news

Sam Darnold Throws for NFL Personnel at USC Pro Day
Darnold completed 303 of 480 passes for 4,143 yards, with 26 touchdowns and 13 interceptions, last season. While there is no clear consensus, many have Darnold leading the pack.

North Korea denuclearisation not on the agenda in Helsinki talks, Finland says
YLE reported that the organizer of the meeting was Kim Joon Hyung, professor at the Handong Global University in South Korea. The visiting delegations include six members from each country.

Western Gas Partners (WES) Stock Rating Reaffirmed by UBS
Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. It is negative, as 42 investors sold PRGO shares while 143 reduced holdings. 73 funds opened positions while 295 raised stakes.

Ndamukong Suh, Raiders cancel scheduled visit
Suh seems to have narrowed his decision down to the Los Angeles Rams , New Orleans Saints and Tennessee Titans . Without Suh, the Raiders still have options in free agency if they want to look into them.

Reid Umstattd vs Davison "Love On The Brain" The Voice 2018 Battles
After Clarkson opted to keep Jamelia, Boston was sent packing when none of the other coaches gave her a second chance. The two singers went to battle on "Head Over Boots" by Jon Pardi , a 2015 No. 1 hit with a definite old-school feel.

McConnell strongly defends Mueller, criticizes Trump for calling Putin
On "This Week", he said Mueller has avoided leaks and uncovered facts that laid the groundwork for more than a dozen indictments. Mueller, however, is a longtime Republican and was appointed by another Republican, deputy attorney general Rod Rosenstein.

Sean Miller says he is not a candidate for Pittsburgh job
Miller, who is from Western Pennsylvania, played at Pitt from 1987-92. "I wish them well in their search for a new coach". Arizona basketball coach Sean Miller has refuted reports out of Pittsburgh that he is interested in the vacancy at Pitt.

White Nationalist And Holocaust Denier Arthur Jones Wins Illinois GOP Congressional Primary
Jones will face incumbent Democratic Congressman Daniel Lipinski, a social conservative, who narrowly won renomination on Tuesday. Jones is a former member of the American Nazi Party and has been active in the white supremacist movement for years.

NBC seals exclusive IndyCar broadcast deal for 2019
The 103rd Running of the Indianapolis 500 , set for Sunday, May 26, 2019, will be the first ever on NBC . All races will reportedly be streamed lived to subscribers on NBCSports.com and the NBC Sports app.

Briefing papers told Pres. Trump not to congratulate Putin on win
The White House had earlier indicated that no call with Putin was planned, as the Russian leader played down talk of a rift. The leaders also paid "special attention" to 'working out the issue of holding a possible meeting at the highest level'.

Ranking the remaining teams in the Midwest Region — March Madness
He told me before every jump I have to tell myself that I am the sh*t and believe it and take every jump like it was my last one. Duke will be presented with the challenge of scoring on the Syracuse zone. "She's been just as invested as the head coach".

KB Toys aims to fill the void of Toys 'R' Us
That could pose headwinds, too, for the revival of KB Toys, once the second-to-last remaining national chain of toy stores. News of a potential revival of KB Toys comes as Toys "R" Us prepares for a liquidation.

Houston Rockets end Portland Trail Blazers 13-game win streak, 115-111
However, just like the Rockets could not stop Aminu, the Trail Blazers did not have an answer for Harden. Two free throws from Paul made the deficit four and the 13-game win streak officially came to a close.

Abington Heights boys tennis team aims to repeat league, district success
Barkan edged out a familiar rival in Pomona-Pitzer's Nick Vucovich (senior) to win the 800-meter, with a time of 1:56.26. On the men's side, Bartlett pointed out Brody Barkan (junior) as one of the day's standout performers.

San Francisco Becomes First US Major City To Ban Sale Of Fur
Furriers and retailers that have fur in their inventory will be permitted to sell the remainder of their goods until January 2020. Retailers in the city's fashionable Union Square district expressed frustrated response after Tuesday's vote. "I will not win".

Other news