203.76 -0.15 (-0.07%)
After hours: 6:33PM EDT
|Bid||203.82 x 800|
|Ask||203.89 x 1300|
|Day's Range||201.82 - 205.33|
|52 Week Range||123.02 - 218.62|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||30.26|
|Earnings Date||Jul 24, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||222.75|
The Dashboard Act would require companies with over 100 million users to disclose the value of their data and would allow users to request the deletion of the data that companies collect on them. Chris Miglino, CEO of SRAX explains that his company is doing what The Dashboard Act plans to do right now.
In a Twitter post, Toff shared that he'll be leading Facebook's New Product Experimentation (NPE) Team. Revealed last week, the NPE Team will focus on "entirely new experiences for building community," and the high-profile hire could be promising. Toff left Vine in 2016 (about one year before it shut down for good) to join Google.
Facebook's Calibra head will testify this week on Capitol Hill. Yahoo Finance's Zack Guzman & Brian Cheung, along with Morning Brew CEO Alex Lieberman discuss with Blockchain Association Director of External Affairs Kristin Smith.
Facebook's head of Calibra tells lawmakers the company will work with regulators, policymakers "to get this right."
Facebook, Alibaba, Hilton, Sony and Procter & Gamble are the companies to watch.
Regulators at the FTC have slapped Facebook with a record fine, but some lawmakers are criticizing the nearly $5 billion penalty as a drop in the bucket. CNET editor-at-large Ian Sherr joins CBSN with more.
Before Congress grills Facebook about Libra, Democratic lawmakers draft legislation to "keep big tech out of finance."
Big tech will be in the spotlight this week as Facebook, Amazon, Apple and Google face lawmakers in multiple hearings
U.S. House of Representatives Intelligence Committee Chairman Adam Schiff on Monday pressed major social media companies on how they plan to handle the threat of deepfake images and videos on their platforms ahead of the 2020 elections. The Democratic congressman wrote letters to the chief executives of Facebook Inc, Twitter Inc and Google, which owns YouTube, asking about the companies' formal policies on deepfakes and their research into technologies to detect the doctored content. Facebook spokesman Andy Stone confirmed the company had received the letter and said it would respond to Schiff accordingly.
Twitter (TWTR) stock gained around 2.2% through Monday. The social media company's stock continues to post positive gains leading up to its earnings report on July 26. YTD, TWTR is up over 34%.
Abigail Disney said distressed workers told her about “foraging for food in other people’s garbage.”
Executives from Alphabet Inc., Amazon.com Inc., Apple Inc., and Facebook Inc. should brace for tough questions around antitrust as federal probes gain steam.
(Bloomberg) -- Facebook Inc. faced its latest Washington crisis Monday, with Treasury Secretary Steven Mnuchin joining a parade of policy makers and politicians who’ve bashed its proposed cryptocurrency, demonstrating the hurdles the company must overcome to ever make the token a reality.Speaking from the White House, Mnuchin said he has serious concerns about the national security implications of Facebook’s coin and other virtual currencies. He said the potential for money laundering and other illicit activities is high, and vowed that Treasury would crack down on law breakers when it finds them.“This is indeed a national security issue,” Mnuchin said in a briefing for reporters at the White House. “We will not allow digital asset service providers to operate in the shadows.”Bitcoin pared an earlier decline after Mnuchin’s comments, and was down 9.6 percent to $10,765.78 at 2:42 p.m. in New York.Many CriticsHe is far from the first official to express skepticism. President Donald Trump took to Twitter July 11 to criticize Facebook’s effort, saying he’s not a fan of Bitcoin and that cryptocurrencies are often used to facilitate “unlawful behavior.” And some of Trump’s staunchest foes in Congress, including Representative Maxine Waters, have also faulted Facebook, going so far as to demand that the company halt all work on the coin, called Libra.Federal Reserve Chairman Jerome Powell chimed in last week, telling lawmakers that he has “serious concerns’’ about the token and cast doubt on Facebook’s timeline for launching it by next year.The opposition from both Republicans and Democrats might put fresh pressure on Facebook -- already under fire in Washington over scandals tied to data privacy -- to assess whether its cryptocurrency is worth it. The fireworks will start again tomorrow when the company faces a hearing before the Senate Banking Committee followed by another Wednesday before the House Financial Services Committee.In prepared remarks before the Senate panel, the top Facebook executive working on Libra, David Marcus, went further than the company has previously to try to assuage policy makers’ concerns that the coin could be a threat to the financial system.Read More: Facebook’s Crypto Plan Unites Trump and Democrats in DisdainMarcus said the token won’t launch until regulatory questions are fully addressed and he added that Facebook will get “appropriate approvals.” He said the coin isn’t isn’t intended to compete with countries’ sovereign currencies and won’t interfere with central banks on monetary policy.“The time between now and launch is designed to be an open process and subject to regulatory oversight and review,” Marcus wrote. “We know we need to take the time to get this right. And I want to be clear: Facebook will not offer the Libra digital currency until we have fully addressed regulatory concerns and received appropriate approvals.”In his remarks, Mnuchin said that Treasury’s Financial Crimes Enforcement Network “will hold any entity that transacts in Bitcoin, Libra or any other cryptocurrency to its highest standards.” He broadly criticized cryptocurrencies, echoing Trump, who said in his series of tweets last week that they are “not money.”“Bitcoin is highly volatile and based on thin air,” Mnuchin said. “We are concerned about the speculative nature of Bitcoin and will make sure that the U.S. financial system is protected from fraud.”Crypto AnxietyMnuchin said he would address the issue with the finance ministers from other major global economies at a Group of Seven summit in France this week. He’s also discussed the issue “extensively” with the Fed’s Powell, he said.The sentiment poses risk for the broader digital coin industry. In the run-up to this week’s hearings, a number of competing digital coin companies are distancing themselves from Facebook. Some industry groups are also conducting briefings for congressional staff, pointing out that Facebook’s plan is light on details and not necessarily representative of all tokens.For Facebook, Mnuchin indicated that U.S. approvals may take a while.“They and others have a lot of work to do before they get us comfortable,” he said. But he said the company is “being very candid with the administration and where they are.”Trump said four days ago that companies issuing cryptocurrency, including Facebook, should be subject to banking regulations.Mnuchin said the president has “legitimate concerns.” He advised investors to “be careful” before purchasing Bitcoin or other cryptocurrencies. “There’s a lot of good things to invest in,” he said.“I have no idea why Bitcoin trades where it is,” Mnuchin said. “I’m not commenting whether it’s high or it’s low.”\--With assistance from Robert Schmidt, Austin Weinstein and Ben Bain.To contact the reporters on this story: Josh Wingrove in Washington at firstname.lastname@example.org;Margaret Talev in Washington at email@example.comTo contact the editors responsible for this story: Alex Wayne at firstname.lastname@example.org, Jesse Westbrook, Jillian WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.