|Bid||203.19 x 1200|
|Ask||203.19 x 1800|
|Day's Range||203.03 - 204.36|
|52 Week Range||123.02 - 218.62|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||30.16|
|Earnings Date||Jul 24, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||222.97|
At the big tech hearing yesterday, a lot of the fire was pointed at regulators. Maureen Ohlhausen, former acting chair of the FTC, was a witness at yesterday's hearing, and joins Yahoo Finance to discuss.
The top Democrat on the Senate Banking Committee says he has not heard anything from Facebook that eases his concerns about Libra.
The House and Senate are both hosting hearings this week about Facebook's proposed Libra cryptocurrency. The Senate hearing was held today, and the House will get its turn tomorrow. CoinShares chief strategy officer Meltem Demirors speaks with Yahoo Finance's Julie Hyman, Adam Shapiro, Rick Newman and Mike Block, Third Seven Capital strategist, about Libra and about her testimony before the House committee tomorrow.
Rep. David Cicilline, chairman of the House Judiciary antitrust subcommittee, has a lot of questions for Facebook as
While some, like SenatorBrown, blustered that "Facebook is dangerous!," others surfaced poignantquestions about Libra's risks
A wave of quarterly reports from Netflix and other top-tier, high-growth companies starting on Wednesday will test Wall Street's willingness to extend a recent really driven by expectations of lower interest rates. Facebook, Amazon and Google-owner Alphabet , all part of the so-called FANG group of widely held stocks, have jumped over 5% so far in July, with investors increasingly willing to bet on the volatile names thanks to expectations the Federal Reserve will cut rates later this month by as much as half a percentage point to support economic growth. The FANG companies, combined with investor favorites Apple and Microsoft, account for about 17% of the S&P 500's $26 trillion market capitalization, making reaction to their quarterly results key to Wall Street sentiment.
(Bloomberg) -- Global finance chiefs found common ground in their fear of Facebook Inc.’s Libra initiative as they met to discuss more contentious issues from digital taxation to the economic outlook on Wednesday.“Libra is on everyone’s mind,” German Finance Minister Olaf Scholz told reporters at the gathering of Group of Seven counterparts near Paris. Bruno Le Maire, his French host, said that a private company shouldn’t “have the possibility to create a sovereign currency.”The remarks at the Chateau de Chantilly reveal the extent of the international backlash building against the proposed digital currency, just as U.S. lawmakers join the bandwagon of criticism against Facebook in Congressional hearings this week. Central banks have individually treated Libra with growing caution since its planned launch was announced on June 18, though they have yet to unify with a coordinated response.“Finance ministers and central bankers all have serious concerns on whether all rules have been followed and if regulations need to be changed to guarantee financial stability,” Scholz said. “Swift action is required” to address the Libra issue, he said.Le Maire, the French finance minister, has put the matter at the center of the agenda of the G-7 gathering. Regulators are worried about Facebook’s capacity to leverage its advanced technology and gigantic customer base to create a currency that would challenge the sovereignty of nation states.Libra might be one of the few areas of agreement as officials clash over most other aspects of the international economic order. France is at odds with the U.S. on a French plan to impose a tax on digital revenues of major companies, another theme at the G-7.On Libra, U.S. Treasury Secretary Steven Mnuchin has already bashed the Facebook proposal, and President Donald Trump criticized its effort via Twitter last week. Federal Reserve Chairman Jerome Powell told lawmakers this month that he has “serious concerns’’ about the token and cast doubt on the company’s timeline for launching it by next year.“I fully share the concerns expressed by Mnuchin,” Le Maire said. “We cannot accept any exchange currencies with the same kind of power and same kind of role as a sovereign currency.”Le Maire and Bank of France Governor Francois Villeroy de Galhau have asked European Central Bank Executive Board member Benoit Coeure to prepare a report on Libra, a summary of which is expected to be published Thursday.Not all officials attending the G-7 meeting have been as allergic to Facebook’s initiative. Bank of England Governor Mark Carney, a former head of the Financial Stability Board, has said that his institution approaches the matter with “an open mind but not an open door,” while U.K. Chancellor Philip Hammond has said that “if it works, and it’s properly regulated, it could be transformative.”International Monetary Fund acting chief David Lipton, speaking on the eve of the gathering in France, cautioned that if Libra is “squelched” based on a simple view of the risks, that might block innovation.“You never know at the beginning how valuable a technology will be,” he said on Tuesday. “It requires experimentation and adaptation over years and often decades.”\--With assistance from Toru Fujioka, Jessica Shankleman and Saleha Mohsin.To contact the reporters on this story: Birgit Jennen in Chantilly at email@example.com;William Horobin in Chantilly at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Stirling at email@example.com, Zoe Schneeweiss, Chiara AlbaneseFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
On a new crusade against Google, tech investor Peter Thiel found a sympathetic audience this week with President Donald Trump, who vowed to investigate the tech investor's unsubstantiated claims that Google may have committed “treason” by working with Chinese authorities.
Tech’s day of reckoning Tuesday on Capitol Hill started with skepticism about Facebook Inc.’s proposed digital currency, and ended with a spirited debate over charges of anti-conservative bias on Alphabet Inc.’s Google search. In between, the industry’s big four took some body blows from both political parties.
France said on Wednesday the conditions were not ripe for Facebook to go ahead with plans for its Libra digital coin, as G7 finance ministers gathered north of Paris on Wednesday for a meeting focused on reining in the powers of big tech giants. Facebook's recent announcement of plans to launch a digital coin has met with a chorus from regulators, central bankers and governments insisting it must respect anti-money-laundering rules and ensure the security of transactions and user data. "We cannot accept to have any exchange currencies with the same kind of power and the same kind of role of sovereign currencies," French Finance Minister Bruno Le Maire told journalists.
Facebook is on Capitol Hill to defend its plans for Libra Cryptocurrency, as lawmakers on both sides have expressed serious concerns. Yahoo Finance’s Dan Roberts, Jessica Smith, Melody Hahm, and Myles Udland break down what to expect.
Jul.17 -- Rep. Patrick McHenry (R-North Carolina) discusses hearings with Facebook and thoughts on their digital currency. He speaks with Bloomberg's David Westin on "Bloomberg Daybreak: Americas."