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Facebook’s share price dropped close to 8% Monday, most likely thanks to the news that the political-research firm Cambridge Analytica used its site to harvest 50 million user profiles illegitimately.
The Guardian and The New York Times reported on Saturday that Cambridge Analytica had accessed data from 50 million Facebook users during the 2016 US presidential campaign without their permission. It used that information for highly targeted political ads on Facebook. Here’s the latest:
- Facebook’s value drops $US30 billion after an enormous data breach
- Facebook’s massive data breach is “opening a can of worms”
- Facebook’s woes are playing right into the hands of one investor group
- Everyone is talking about Cambridge Analytica, the Trump-linked data firm that harvested 50 million Facebook profiles – here’s what’s going on
- “The iPhone X didn’t sell well during the holiday season”: Apple suppliers talk about the company’s struggling sales
- GOLDMAN SACHS: A ‘surprising twist’ is playing out in the stock market right now – here’s how to capitalise on it
And in markets news:
- One of the most secretive trading firms on Wall Street has been trading bitcoin
- GOLDMAN SACHS: A “surprising twist” is playing out in the stock market right now – here’s how to capitalise on it
- Wall Street is watching one key level in the bond market
- Wall Street’s “wall of money” is at odds with the struggling market – but one expert says not to worry
- BANK OF AMERICA: A small group of oil traders could come out of hibernation to catch the rest of the market off-guard
- The Fed is stuck in a trap of its own making
Lastly, the 24-year-old billionaire heiress to the Dell fortune left social media after exposing her family to security risks.