Jason Hsu, CIO of Rayliant Global Advisors, joins Yahoo Finance Live to discuss cryptocurrency, inflation pressures, and outlook on the market.
The hot crypto market "actually does resemble a casino" to investors, Gundlach told Yahoo Finance.
Facebook Inc (NASDAQ: FB) lost a lawsuit over an initial order from the Irish Data Protection Commission’s threatening of the transfers of users’ data across the Atlantic, Bloomberg reports. The finalization of the order could lead to the suspension of the transfer of E.U. users’ personal information to Facebook’s U.S. servers, the Wall Street Journal reports. Facebook has time till mid-September to file its response. The dispute was triggered partly by the E.U.’s Court of Justice’s elimination of the EU-approved trans-Atlantic transfer tool, a Privacy Shield over citizens’ data safety concerns following U.S. shipment. The Irish authority also disallowed Facebook from using an alternative tool, known as standard contractual clauses for satisfying privacy rules following U.S. data shipment. Privacy campaigner Max Schrems has been complaining to the Irish watchdog against the safety of Facebook’s data transfers. The ruling will impact Facebook along with its users and other businesses, stated the social media company. Facebook acknowledged compliance with the European rules and appropriate data safeguards. The data transfer argument dates back to 2013 when former contractor Edward Snowden exposed the U.S. National Security Agency spying activities. The E.U. reinforced strict data protection rules with the 2018 General Data Protection Regulation. Price action: FB shares traded higher by 3.66% at $316.4 on the last check Friday. See more from BenzingaClick here for options trades from BenzingaJudge In Federal Antitrust Case Against Facebook Delays Discovery Process: ReutersGermany's Privacy Watchdog Prohibits Facebook From Collecting WhatsApp User Data For 3 Months: Bloomberg© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.