Stocks making the biggest moves premarket: Facebook, Amazon, Gilead, Boeing, GE & more

Check out the companies making headlines before the bell:Facebook – Facebook is reportedly close to settling with the Federal Trade Commission by paying a $5 billion fine. ET and Jefferies analysts said the event will see Amazon add more Prime members despite a hike in its annual fee. Gilead Sciences – The drugmaker is investing $5.1 billion to increase its stake in Belgian-Dutch biotech firm Galapagos. Gilead will also expand its partnership with Galapagos, agreeing to develop and commercialize


Check out the companies making headlines before the bell:Facebook – Facebook is reportedly close to settling with the Federal Trade Commission by paying a $5 billion fine. ET and Jefferies analysts said the event will see Amazon add more Prime members despite a hike in its annual fee. Gilead Sciences – The drugmaker is investing $5.1 billion to increase its stake in Belgian-Dutch biotech firm Galapagos. Gilead will also expand its partnership with Galapagos, agreeing to develop and commercialize
Stocks making the biggest moves premarket: Facebook, Amazon, Gilead, Boeing, GE & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, amazon, stocks, biggest, making, neutral, billion, premarket, despite, valuation, buy, downgraded, moves, share, gilead, facebook, boeing, underperform, ge, market, gas


Stocks making the biggest moves premarket: Facebook, Amazon, Gilead, Boeing, GE & more

Check out the companies making headlines before the bell:

Facebook – Facebook is reportedly close to settling with the Federal Trade Commission by paying a $5 billion fine. The Federal Trade Commission has been conducting a probe of Facebook’s privacy practices.

Amazon.com – Amazon.com has kicked off its fifth annual “Prime Day,” which this year is extending to 48 hours. The event began at 3 a.m. ET and Jefferies analysts said the event will see Amazon add more Prime members despite a hike in its annual fee.

Gilead Sciences – The drugmaker is investing $5.1 billion to increase its stake in Belgian-Dutch biotech firm Galapagos. Gilead will also expand its partnership with Galapagos, agreeing to develop and commercialize its drugs over a 10 year period.

Boeing – Boeing’s 737 Max jet could remain grounded into 2020, according to government and industry officials who spoke to The Wall Street Journal. American Airlines extended its cancellations of flights involving the jet into early November, the fourth time it’s done so.

General Electric – The stock was downgraded to “neutral” from “buy” at UBS, which cites valuation, a decline in interest rates, and ongoing power market weakness.

Carrizo Oil & Gas – The oil and gas company will be acquired by Callon Petroleum in an all-stock transaction valued at $3.2 billion, or $13.12 per Carrizo share. That represents a 24% premium to Carrizo’s Friday closing price of $10.50.

Tiffany – Tiffany was downgraded to “neutral” from “buy” at Citi, based on concerns about near-term dynamics despite what Citi sees as good long-term moves by management at the luxury goods retailer.

Crocs – Crocs was upgraded to “overweight” from “neutral” at Piper Jaffray, based on the belief that the shoe maker has been seeing solid traffic.

Molson Coors – Bank of America/Merrill Lynch downgraded the beer brewer to “underperform” from “buy” and cut its price target for the stock to $50 per share from $70. The firm is concerned that Molson Coors will have to increase spending to stabilize market share for core brands and accelerate investments in premium segments.

International Speedway, Speedway Motorsports – Both stocks were both downgraded to “underperform” from “market perform” at Wells Fargo, which points to a lack of upside potential given takeover offers in play for both race car track operators. The report also notes that Nascar’s popularity is “maturing” and that aging infrastructure will require substantial investment.

Slack Technologies – Slack was rated “overweight” in new coverage at Barclays on revenue growth prospects, despite what it calls a “demanding” valuation for the enterprising message system provider.

Sealed Air – Sealed Air was downgraded to “underweight” from “sector weight” at KeyBanc, which points to wake volume trends for the industrial gas maker as well as the degree of balance sheet leverage.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, amazon, stocks, biggest, making, neutral, billion, premarket, despite, valuation, buy, downgraded, moves, share, gilead, facebook, boeing, underperform, ge, market, gas


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Mnuchin: US has ‘very serious concerns’ that Facebook’s Libra could be misused by terrorists

Treasury Secretary Steven Mnuchin has concerns about Facebook’s proposed cryptocurrency and its potential illicit use. In a press conference Monday, Mnuchin said Facebook’s planned digital currency “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.” “The president does have concerns as it relates to bitcoin and cryptocurrencies — those are legitimate concerns that we have been working on for a long period of time,” Mnuchin said. The tech g


Treasury Secretary Steven Mnuchin has concerns about Facebook’s proposed cryptocurrency and its potential illicit use. In a press conference Monday, Mnuchin said Facebook’s planned digital currency “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.” “The president does have concerns as it relates to bitcoin and cryptocurrencies — those are legitimate concerns that we have been working on for a long period of time,” Mnuchin said. The tech g
Mnuchin: US has ‘very serious concerns’ that Facebook’s Libra could be misused by terrorists Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: kate rooney
Keywords: news, cnbc, companies, libra, concerns, bitcoin, facebook, terrorists, illicit, serious, facebooks, treasury, digital, mnuchin, committee, misused


Mnuchin: US has 'very serious concerns' that Facebook's Libra could be misused by terrorists

Treasury Secretary Steven Mnuchin has concerns about Facebook’s proposed cryptocurrency and its potential illicit use.

In a press conference Monday, Mnuchin said Facebook’s planned digital currency “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”

“Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs and human trafficking,” Mnuchin said, adding that he is “not comfortable today” with Facebook’s launch.

“They have a lot of work to do,” he said.

The press conference comes days after President Donald Trump said in a tweet that he was “not a fan” of cryptocurrencies like bitcoin. He also suggested Facebook, which plans on launching the global cryptocurrency next year, would need a bank charter to do so. Bitcoin dropped sharply on Monday following the president’s criticism on Twitter. The world’s first and most valuable digital currency fell roughly 10% to a low of $9,872 to start the week.

“The president does have concerns as it relates to bitcoin and cryptocurrencies — those are legitimate concerns that we have been working on for a long period of time,” Mnuchin said.

In response to the Treasury secretary’s comments, Facebook told CNBC that “they anticipated critical feedback from regulators, central banks, lawmakers around the world.” The tech giant also said they announced Libra a year before its anticipated launch date, “so that we could have those conversations.”

Facebook’s David Marcus, head of Facebook’s Calibra digital wallet that will be used to store Libra, is scheduled to testify before the committee on Tuesday. The House Financial Services Committee will hold its own hearing focused on Libra on Wednesday. Marcus responded to questions from the U.S. Senate Banking Committee in a letter last week, saying the company needs governments, central banks and regulators involved to properly launch the digital asset and Facebook “can’t do this alone.”

WATCH: Facebook responds to Mnuchin’s criticism


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: kate rooney
Keywords: news, cnbc, companies, libra, concerns, bitcoin, facebook, terrorists, illicit, serious, facebooks, treasury, digital, mnuchin, committee, misused


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Facebook’s real goal with Libra is to become even more of a utility

In his prepared remarks, Marcus perfectly outlines the business model behind the social network’s upcoming Libra digital currency and its Calibra digital wallet. Our first goal is to create utility and adoption, enabling people around the world — especially the unbanked and underbanked —to take part in the financial ecosystem. Facebook CEO Mark Zuckerberg is obsessed with the idea of utility, a former Facebook employee who left the company in 2017 told CNBC. Marcus is set to testify before the S


In his prepared remarks, Marcus perfectly outlines the business model behind the social network’s upcoming Libra digital currency and its Calibra digital wallet. Our first goal is to create utility and adoption, enabling people around the world — especially the unbanked and underbanked —to take part in the financial ecosystem. Facebook CEO Mark Zuckerberg is obsessed with the idea of utility, a former Facebook employee who left the company in 2017 told CNBC. Marcus is set to testify before the S
Facebook’s real goal with Libra is to become even more of a utility Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: salvador rodriguez
Keywords: news, cnbc, companies, users, goal, marcus, company, services, libra, financial, facebook, facebooks, utility, real, digital, calibra


Facebook's real goal with Libra is to become even more of a utility

The Senate Banking Committee on Monday released the testimony of David Marcus, the head of Facebook’s cryptocurrency projects ahead of his testimony Tuesday.

In his prepared remarks, Marcus perfectly outlines the business model behind the social network’s upcoming Libra digital currency and its Calibra digital wallet.

“We do not expect Calibra to make money at the outset, and Calibra customers’ account and financial information will not be shared with Facebook, Inc., and as a result cannot be used for ad targeting. Our first goal is to create utility and adoption, enabling people around the world — especially the unbanked and underbanked —to take part in the financial ecosystem. “But we expect that the Calibra wallet will be immediately beneficial to Facebook more broadly because it will allow many of the 90 million small- and medium-sized businesses that use the Facebook platform to transact more directly with Facebook’s many users, which we hope will result in consumers and businesses using Facebook more. That increased usage is likely to yield greater advertising revenue for Facebook.”

The key word in Marcus’s remarks is “utility.”

Facebook CEO Mark Zuckerberg is obsessed with the idea of utility, a former Facebook employee who left the company in 2017 told CNBC. If Facebook is essential, then you simply cannot dispatch it from your life because it provides fundamental value.

For many people, Facebook already plays this role. The company’s social networks serve people as their address book, their events calendar, their messaging services and their photo albums. Facebook will further cement itself as a utility in its users’ lives if they begin to use it as their digital bank.

The rest of Marcus’s statements follow the classic Facebook game plan. By focusing on user adoption first, the company is prioritizing growth with the assumption that ad revenue will shortly follow.

Marcus said Facebook will not use people’s Calibra data to target ads to them, which is surely a relief for any users concerned about privacy. But the company doesn’t really need this data to sell more ads. If people exchange their money for Libra, the company expects they and businesses will increase their use of Facebook. That in turn will lead more companies to pay to promote their products and services within the Facebook ecosystem.

Facebook may be pivoting to privacy, but the company’s breadwinner will continue to be advertising.

Marcus is set to testify before the Senate Banking Committee on Tuesday and before the House Financial Services Committee on Wednesday.

WATCH: CNBC’s full interview with David Marcus, the head of Facebook’s digital wallet project


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: salvador rodriguez
Keywords: news, cnbc, companies, users, goal, marcus, company, services, libra, financial, facebook, facebooks, utility, real, digital, calibra


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Facebook Libra head says it will be subject to regulatory oversight and review

Facebook Libra head says it will be subject to regulatory oversight and review8 Hours AgoThe testimony of David Marcus, the head of Facebook’s digital wallet unit Calibra, was released. He addressed the direction of Facebook’s digital asset Libra. CNBC’s Ylan Mui reports.


Facebook Libra head says it will be subject to regulatory oversight and review8 Hours AgoThe testimony of David Marcus, the head of Facebook’s digital wallet unit Calibra, was released. He addressed the direction of Facebook’s digital asset Libra. CNBC’s Ylan Mui reports.
Facebook Libra head says it will be subject to regulatory oversight and review Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15
Keywords: news, cnbc, companies, regulatory, oversight, ylan, subject, review, testimony, wallet, libra, unit, facebook, facebooks, head, digital, review8


Facebook Libra head says it will be subject to regulatory oversight and review

Facebook Libra head says it will be subject to regulatory oversight and review

8 Hours Ago

The testimony of David Marcus, the head of Facebook’s digital wallet unit Calibra, was released. He addressed the direction of Facebook’s digital asset Libra. CNBC’s Ylan Mui reports.


Company: cnbc, Activity: cnbc, Date: 2019-07-15
Keywords: news, cnbc, companies, regulatory, oversight, ylan, subject, review, testimony, wallet, libra, unit, facebook, facebooks, head, digital, review8


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British government won’t try to stop Facebook’s new Libra digital coin, says UK finance minister

Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister. Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it. This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system. The social networ


Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister. Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it. This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system. The social networ
British government won’t try to stop Facebook’s new Libra digital coin, says UK finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: david reid
Keywords: news, cnbc, companies, finance, banking, libra, minister, world, stop, uk, coin, viewed, digital, currency, wont, facebooks, facebook, week, try


British government won't try to stop Facebook's new Libra digital coin, says UK finance minister

Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister.

Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it.

This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system.

The social network’s digital token is being launched as a solution for the number of people in the world currently operating without access to banking services. It is also viewed as a potential moneymaker for Facebook that would likely compete with the multibillion-dollar remittance market.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: david reid
Keywords: news, cnbc, companies, finance, banking, libra, minister, world, stop, uk, coin, viewed, digital, currency, wont, facebooks, facebook, week, try


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Facebook will never break through with Oculus, says one of the VR company’s co-founders

But one of the company’s six co-founders now doubts Oculus will ever break through. Jack McCauley told CNBC he doesn’t think there’s a real market for VR gaming. With Facebook positioning its Oculus devices primarily as gaming machines, McCauley doesn’t believe there’s much of a market for the device. “If we were gonna sell, we would’ve sold,” McCauley said in a phone interview on Wednesday. The Oculus Quest, which was released this May, has sold nearly 1.1 million units while the Oculus Rift ha


But one of the company’s six co-founders now doubts Oculus will ever break through. Jack McCauley told CNBC he doesn’t think there’s a real market for VR gaming. With Facebook positioning its Oculus devices primarily as gaming machines, McCauley doesn’t believe there’s much of a market for the device. “If we were gonna sell, we would’ve sold,” McCauley said in a phone interview on Wednesday. The Oculus Quest, which was released this May, has sold nearly 1.1 million units while the Oculus Rift ha
Facebook will never break through with Oculus, says one of the VR company’s co-founders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, mccauley, vr, million, doesnt, market, theres, break, sold, game, facebook, companys, oculus, units, cofounders


Facebook will never break through with Oculus, says one of the VR company's co-founders

Jack McCauley was one of the six Oculus co-founders, but he’s also one of its biggest bears, telling CNBC he doesn’t think there’s a market for virtual reality video gaming.

Five years after its $2 billion purchase of Oculus, Facebook is still pushing forward in its efforts to bring virtual reality to a mainstream audience.

But one of the company’s six co-founders now doubts Oculus will ever break through.

Jack McCauley told CNBC he doesn’t think there’s a real market for VR gaming. With Facebook positioning its Oculus devices primarily as gaming machines, McCauley doesn’t believe there’s much of a market for the device.

“If we were gonna sell, we would’ve sold,” McCauley said in a phone interview on Wednesday.

McCauley, who left Oculus in November 2015, said sales of the devices he worked on were modest. The original DK1, released in 2013 sold 70,000 units while the follow-up DK2 from 2014 sold 150,000, he recalled.

Sales have grown with newer devices, but Oculus has yet to have a hit.

The $199 Oculus Go has sold a little more than 2 million units since its release in May 2018, according to estimates provided by market research firm SuperData, a Nielsen company. The Oculus Quest, which was released this May, has sold nearly 1.1 million units while the Oculus Rift has sold 547,000 units since the start of 2018, according to SuperData.

For comparison, Sony sold 17.8 million PlayStation 4 units during its 2018 fiscal year while Nintendo sold nearly 17 million Switch units during its 2018 fiscal year. Microsoft doesn’t break out Xbox One unit sales.

In May, Facebook released two new headsets, the untethered $399 Oculus Quest and the computer-powered $399 Oculus Rift S. The tech company is also looking to buy up game studios and secure exclusive deals to beef up Oculus’s game library, according to a report this week by The Information.

But McCauley, who worked on the two developer versions of the Oculus and stayed through Facebook’s acquisition of the company in March 2014, said there are a lot of fundamental issues that remain unsolved with VR gaming.

Primarily, many people still get nauseated when they put on a VR headset, McCauley said. And many people prefer to play video games alongside their friends on a 2-D display, McCauley added.

“Video games have not evolved into a 3-D experience for a number of reasons,” he said. “I don’t know what kind of application it would be for VR that would keep players plugged in for six hours like they do with game consoles.”

McCauley speaks as a long-time veteran of the video game industry — he worked on “Guitar Hero” for Activision, the Xbox 360 for Microsoft and at Electronic Arts before co-founding Oculus.

“You put it on, and there’s a lot of ‘Wow!’ to it, but then what do you do with it?” McCauley said. “Even when I was there I thought people weren’t going to wear a headset and walk around with it in public.”

Facebook has enough money to keep investing in Oculus as it has for the past five years, but McCauley thinks that would be throwing good money after bad.

“I may be wrong, but I’ve been doing this a long time,” he said. “I’ve already done a lot of what people do mistake-wise. You have your gut, and it tells you if you’re right or wrong. And in this case I think I’m right.”

Since leaving in November 2015, McCauley has enjoyed a semi-retired life. He’s an innovator in residence at Berkeley’s Jacobs Institute of Design Innovation and he continues to build all sorts of devices, such as a gun capable of shooting down drones, at his own research and development facility.

Facebook declined to comment.

WATCH: CNBC interview with Oculus co-founder Palmer Luckey


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, mccauley, vr, million, doesnt, market, theres, break, sold, game, facebook, companys, oculus, units, cofounders


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Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra

U.S. President Donald Trump on Thursday said he’s “not a fan” of cryptocurrencies, and suggested that Facebook may need a banking charter if the company wants to launch the digital token Libra. In a series of Twitter posts, Trump said cryptocurrencies are not money and “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.” “If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all


U.S. President Donald Trump on Thursday said he’s “not a fan” of cryptocurrencies, and suggested that Facebook may need a banking charter if the company wants to launch the digital token Libra. In a series of Twitter posts, Trump said cryptocurrencies are not money and “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.” “If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all
Trump: I’m ‘not a fan’ of cryptocurrencies, and Facebook may need a banking charter for Libra Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: yen nee lee
Keywords: news, cnbc, companies, im, bitcoin, facebook, president, currency, libra, trump, twitter, need, charter, fan, bank, price, banking, cryptocurrencies, dollar


Trump: I'm 'not a fan' of cryptocurrencies, and Facebook may need a banking charter for Libra

President Donald Trump talks to reporters before boarding Air Force One to return to Washington from Morristown Municipal Airport in Morristown, New Jersey, July 7, 2019.

U.S. President Donald Trump on Thursday said he’s “not a fan” of cryptocurrencies, and suggested that Facebook may need a banking charter if the company wants to launch the digital token Libra.

In a series of Twitter posts, Trump said cryptocurrencies are not money and “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations,” said the president.

Trump is not the only one who has criticized Facebook’s plan to introduce Libra. Federal Reserve Chair Jerome Powell, French Finance Minister Bruno Le Maire and Bank of England Governor Mark Carney are among government leaders and central bank chiefs who have spoken up against Libra.

Facebook declined to comment on Trump’s twitter posts.

Trump echoed many critics of cryptocurrencies, questioning how bitcoin is valued and highlighting its price volatility. Many argue that those attributes count against the wider adoption of digital currencies.

Cryptocurrencies “are not money, and whose value is highly volatile and based on thin air,” said Trump.

In the last 24 hours alone, the price of bitcoin against the dollar saw movements that would spark worries if they were seen in any major national currency: It touched a high of $12,033.74 and a low of $11,142.79, according to industry data site CoinDesk.

The president said the “dependable and reliable” U.S. dollar should be the “only one real currency in the USA.”

“It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” said Trump.

Despite Trump’s criticisms, the price of bitcoin did not appear to move much immediately following his posts, according to CoinDesk data.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: yen nee lee
Keywords: news, cnbc, companies, im, bitcoin, facebook, president, currency, libra, trump, twitter, need, charter, fan, bank, price, banking, cryptocurrencies, dollar


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Facebook to be slapped with $5 billion fine for privacy lapses, say reports

The Federal Trade Commission approved an approximately $5 billion settlement with Facebook over the company’s 2018 Cambridge Analytica scandal, a person familiar with the matter told The Wall Street Journal. The fine represents the largest ever imposed by the FTC against a tech company. Previously, the agency’s largest fine against a tech company came in 2012 when Google agreed to pay a $22.5 million penalty due to its privacy practices. The fine would represent approximately 9% of Facebook’s 20


The Federal Trade Commission approved an approximately $5 billion settlement with Facebook over the company’s 2018 Cambridge Analytica scandal, a person familiar with the matter told The Wall Street Journal. The fine represents the largest ever imposed by the FTC against a tech company. Previously, the agency’s largest fine against a tech company came in 2012 when Google agreed to pay a $22.5 million penalty due to its privacy practices. The fine would represent approximately 9% of Facebook’s 20
Facebook to be slapped with $5 billion fine for privacy lapses, say reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, facebook, facebooks, 2018, slapped, house, settlement, ftc, lapses, privacy, reports, billion, mark, tech, largest, fine, say


Facebook to be slapped with $5 billion fine for privacy lapses, say reports

Facebook co-founder, Chairman and CEO Mark Zuckerberg testifies before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill April 11, 2018 in Washington, DC.

The Federal Trade Commission approved an approximately $5 billion settlement with Facebook over the company’s 2018 Cambridge Analytica scandal, a person familiar with the matter told The Wall Street Journal. Several other news outlets separately reported the approval.

The fine represents the largest ever imposed by the FTC against a tech company. Previously, the agency’s largest fine against a tech company came in 2012 when Google agreed to pay a $22.5 million penalty due to its privacy practices. The fine would represent approximately 9% of Facebook’s 2018 revenue.

The settlement drew criticism from a number of senators and Congress members, including Democratic Sen. Mark Warner.

“Given Facebook’s repeated privacy violations, it is clear that fundamental structural reforms are required,” Warner said in a statement on Friday. “With the FTC either unable or unwilling to put in place reasonable guardrails to ensure that user privacy and data are protected, it’s time for Congress to act.”


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, facebook, facebooks, 2018, slapped, house, settlement, ftc, lapses, privacy, reports, billion, mark, tech, largest, fine, say


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Facebook now shows you who uploaded and shared your information for other advertisers to target you

Facebook is updating the kinds of information users can see about why they’re viewing a certain ad. For the first time, Facebook users will be able to see what third-party data brokers and agencies are providing data to Facebook to target personalized ads. In the section, Facebook claims it matches that uploaded information to a person’s profile “without revealing your identity to the business, through a hashing process.” Facebook claims this ensures the company doesn’t see that information and


Facebook is updating the kinds of information users can see about why they’re viewing a certain ad. For the first time, Facebook users will be able to see what third-party data brokers and agencies are providing data to Facebook to target personalized ads. In the section, Facebook claims it matches that uploaded information to a person’s profile “without revealing your identity to the business, through a hashing process.” Facebook claims this ensures the company doesn’t see that information and
Facebook now shows you who uploaded and shared your information for other advertisers to target you Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: megan graham
Keywords: news, cnbc, companies, able, ad, list, facebook, users, businesses, shows, shared, uploaded, target, advertisers, information, data


Facebook now shows you who uploaded and shared your information for other advertisers to target you

Facebook is updating the kinds of information users can see about why they’re viewing a certain ad.

The changes to Facebook’s “Why am I seeing this ad?” experience, announced Thursday in a blog post, includes more specific information about why a user is being targeted by an ad with interests and categories. Users will now also be able to see more information about the businesses uploading lists of their information, and the advertisers using those lists to target ads.

The new features come as Facebook continues to grapple with its privacy practices and how it uses personal data to display ads. For the first time, Facebook users will be able to see what third-party data brokers and agencies are providing data to Facebook to target personalized ads.

Users will now be able to browse businesses that uploaded and shared a list with user information, including email addresses or phone numbers. In the section, Facebook claims it matches that uploaded information to a person’s profile “without revealing your identity to the business, through a hashing process.” Facebook claims this ensures the company doesn’t see that information and that a business can’t see the contact information of Facebook users.

For instance, those businesses sharing my information include Oracle Data Cloud, identity resolution company LiveRamp and media agency Starcom USA. In total, my information was uploaded by 74 businesses, according to Facebook.

Facebook also now shows the advertisers that are using that uploaded information to advertise to you. The list shows advertisers that uploaded a list from businesses and used that list to run at least one ad in the past seven days. On Thursday, that list included 57 advertisers, including HBO’s “Big Little Lies,” a car dealer in Chicago (where I used to live) and a lieutenant governor candidate in Mississippi. (I’ve never lived in Mississippi. I’ve actually never been to Mississippi).

Users will also show people reasons why they’re seeing an ad on Facebook. When users select “Why am I seeing this ad” in the dropdown menu of an ad, they’ll be able to see more detailed targeting information, like the interests or categories that matched them to a specific ad, as well as where that information came from if they had previously visited a website or liked a certain Facebook page.

On Facebook’s “Your ad preferences” page, users can browse this information, choose ad settings (like turning off ads based on data from outside advertisers and other companies) and hide certain ad topics.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: megan graham
Keywords: news, cnbc, companies, able, ad, list, facebook, users, businesses, shows, shared, uploaded, target, advertisers, information, data


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Facebook’s Libra cryptocurrency again comes under fire from global policymakers

The social network’s digital token, called Libra, continues to be faced with warnings from the international community, amid ongoing worries about its regulatory implications. But French officials aren’t the only ones casting doubt on Facebook’s Libra. Speaking after the launch of the central bank’s financial stability report, Carney said Libra could be faced with regulatory hurdles, adding to the chorus of global policymakers warning about Libra. Such regulatory warnings have led to questions o


The social network’s digital token, called Libra, continues to be faced with warnings from the international community, amid ongoing worries about its regulatory implications. But French officials aren’t the only ones casting doubt on Facebook’s Libra. Speaking after the launch of the central bank’s financial stability report, Carney said Libra could be faced with regulatory hurdles, adding to the chorus of global policymakers warning about Libra. Such regulatory warnings have led to questions o
Facebook’s Libra cryptocurrency again comes under fire from global policymakers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: ryan browne
Keywords: news, cnbc, companies, successful, regulatory, comes, libra, facebook, central, digital, policymakers, currency, carney, senate, global, facebooks, cryptocurrency


Facebook's Libra cryptocurrency again comes under fire from global policymakers

Facebook announced its cryptocurrency, called Libra. Chesnot | Getty Images News | Getty Images

Facebook’s planned cryptocurrency hasn’t even launched yet, but it’s been the talk of the town for politicians and central bankers worldwide. The social network’s digital token, called Libra, continues to be faced with warnings from the international community, amid ongoing worries about its regulatory implications. French Finance Minister Bruno Le Maire on Thursday reiterated that he was against the idea of Libra becoming a “sovereign currency” that gives it the chance to compete with government-backed currencies like the euro. “My determination to make sure that Facebook’s … Libra project does not become a sovereign currency that could compete with the currency of states is … absolute,” Le Maire said in a speech to the French Senate Thursday. “Because I will never accept that corporations could become private states.” Le Maire was addressing the Senate as France readies a contentious new tax aimed at making technology giants like Facebook, Google and Amazon pay their fair share. The Senate approved the levy Thursday morning, a move that will likely anger the U.S. But French officials aren’t the only ones casting doubt on Facebook’s Libra. Just a day earlier, Federal Reserve Chairman Jerome Powell called on the social network to halt plans for its digital token, worried regulators are lacking answers from the company on matters such as privacy and consumer protection.

“Libra raises serious concerns regarding privacy, money laundering, consumer protection, financial stability,” Powell said at a congressional committee Wednesday. America’s top central banker added the Fed has established a working group to look into the project.

‘It’s either successful or it isn’t’

Bank of England Governor Mark Carney once again warned against Libra. Speaking after the launch of the central bank’s financial stability report, Carney said Libra could be faced with regulatory hurdles, adding to the chorus of global policymakers warning about Libra. “It’s either successful or it isn’t,” Carney said Thursday. “If it’s successful it becomes systemic, because it would involve a very large number of users. If you’re a systemic payment system … you have to be on all the time, you can’t have teething issues, you can’t have people losing money out of their wallets.” The U.K. central bank chief said Facebook cannot “learn on the job,” adding: “It’s got to be rock solid right from the start, or it’s not going to start.” Carney has previously said that any such currency would “have to be subject to the highest standards of regulations,” although he has also said he’s keeping an open mind on Facebook’s crypto venture. The G-7 — which includes France, Britain and the U.S. — is forming a task force to assess the risks posed by digital currencies like Facebook’s to the financial system.

Such regulatory warnings have led to questions over whether Facebook will be able to roll out its digital currency on time. Libra is currently scheduled to launch next year, but some in the tech community think that timing may be too ambitious.

What is Libra?


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: ryan browne
Keywords: news, cnbc, companies, successful, regulatory, comes, libra, facebook, central, digital, policymakers, currency, carney, senate, global, facebooks, cryptocurrency


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