South Bend Mayor Pete Buttigieg has come under criticism from rival Elizabeth Warren, who charges that Buttigieg is too cozy with Facebook. Buttigieg’s aides confirmed that his campaign hired two digital analytics staff recommended by Facebook CEO Mark Zuckerberg.
A state-level antitrust investigation into the social network now has the backing of a bipartisan group of 47 attorneys general.
The focus will be on Facebook’s plan to create a digital currency and its role in housing. The company agreed in a legal settlement in March to overhaul its ad-targeting systems to prevent discrimination in housing, credit and employment ads.
Two bipartisan groups of state attorneys general are launching separate antitrust investigations into Facebook and Google, adding to regulatory scrutiny of two of the world’s largest and most ubiquitous tech companies.
The fine is the largest the Federal Trade Commission has levied on a tech company, though it won’t make much of a dent for a company that had nearly $56 billion in revenue last year.
Members of both parties demanded to know why a company with massive market power and a track record of scandals should be trusted with such a far-reaching project, given the potential for fraud, abuse and criminal activity.
Facebook has said it’s eyeing next year for the launch of Libra, which has drawn the ire of skeptical lawmakers, Federal Reserve Chairman Jerome Powell and President Donald Trump.
Facebook is getting a taste of the regulatory pushback it will face as it creates a new digital currency with corporate partners.
The social media giant said it has found that 40 percent of Americans live in places where there weren't enough local news stories to support its new service.
The outage is yet another publicity problem for a company already dealing with privacy issues and regulatory probes.
Candidates running at all levels of government have turned to cheaper and potentially more effective social media ads to reach voters.
Twitter’s drop of 18.5 percent Friday morning comes one day after Facebook lost 19 percent of its value.
CEO Mark Zuckerberg’s fortune tumbled Wednesday as Facebook shares fell 20 percent in after-hours trading.
The problem, which Facebook said it has fixed, is the latest privacy scandal for the world's largest social media company.
After two days of congressional testimony, what seemed clear was how little Congress seems to know about Facebook, much less what to do about it.
Under fire Tuesday for the worst privacy debacle in his company’s history, CEO Mark Zuckerberg apologized several times for Facebook failures and batted away often-aggressive questioning from lawmakers.
Facebook is facing its worst privacy scandal in years following allegations that Cambridge Analytica used ill-gotten data from millions of users through an app to try to influence elections.
Facebook shares declined in morning trading, falling 5.5 percent, to $163.08 each. That follows a drop of 6.8 percent Monday that was the company’s largest since March 2014.
The social network is under fire after newspapers reported that former Trump campaign consultant Cambridge Analytica used data, including user likes, inappropriately obtained from roughly 50 million Facebook users to try to influence elections.