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The Federal Trade Commission (FTC) on Monday said that it is officially investigating Facebook.
The FTC publicly confirmed the investigation after several news outlets reported on the probe last week, citing unnamed sources. Facebook stock was down as much as 5% following news of the FTC probe.
Elsewhere in tech news:
- Dropbox had a blockbuster IPO and is now worth $US13 billion – now the exec who led its growth explains what comes next
- Snap quietly acquired a British VR and gaming software startup called PlayCanvas
- RBC: There’s one thing Apple needs to do to save the iPhone
- MORGAN STANLEY: Here’s how Microsoft can reach a $US1 trillion market cap
- Silicon Valley’s MeToo moment is changing the venture capital industry – but many wonder if it will last
- Elon Musk’s new Tesla pay package could make him $US55.8 billion – and it’s a case study in what’s wrong with executive compensation
In finance news, we got the inside story on Goldman Sachs’ plan to move dealmaking beyond Wall Street and Silicon Valley. And the average Wall Street bonus soared to nearly $US185,000 last year.
And in markets news:
- One overlooked market catalyst is spiking to the highest since 2007 – and it could be the saving grace for stocks
- Stocks just plunged through a key technical level that JPMorgan says could open the flood gates for more selling
- BANK OF AMERICA: Here are 4 reasons the escalating trade war is just the “tip of the iceberg”
- US stocks risk losing an advantage they have held over the world since the financial crisis, Bank of America says