Facebook has been in talks with banks about accessing users’ financial data and integrating it into its platform, according to a new report from The Wall Street Journal on Monday.
The report sparked immediate outrage from critics and privacy activists, who fear the Silicon Valley tech firm is attempting to gobble up ever-more information, mere months after an unprecedented crisis over how it handled user data in the Cambridge Analytica scandal.
But Wall Street has taken a very different view, and Facebook’s stock popped more than 3% on the news, with investors seemingly viewing it as another money-making opportunity for the company.
To read more about Facebook’s talks with major banks, click here.
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The Justice Department argued Monday that a trial judge ignored “fundamental principles of economics and common sense” when he allowed AT&T’s acquisition of Time Warner Inc., reports the Wall Street Journal. The government’s arguments came in a brief filed in federal appeals court, where the Justice Department continues to challenge the more than $US80 billion cash-and-stock deal-even after the companies completed the transaction in June upon winning a six-week trial.
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