Facebook Under Pressure Over Data And Privacy Issues

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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.

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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.


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