Facebook shares under pressure again — The Latest

Senate Commerce presses Facebook Cambridge Analytic for answers on data

Cambridge Analytica, a data science company that worked for President Trump's campaign, announced Tuesday that it has suspended chief executive Alexander Nix after a British television station aired secretly recorded video that appeared to show him talking about entrapment as a way to win campaigns.

The council plans to exploit that data to help with future tourism marketing campaigns.

Photo by Associated Press /Times Free Press.

"I think this does leave the door open for newer competitors like Snapchat, or even Vero that came out recently, for them to come out take a position on protecting user data and providing a great social experience as well, so there's definitely some opportunities for new players to enter the game", Kappen said. The company has denied wrongdoing.

Here is some of what is known about the company.

"Suspended by Facebook. For blowing the whistle". In a letter to Zuckerberg, Sen.

Facebook stated that it was aware of the breach at the time it happened, but took limited measures to stop it and didn't bother to alert users. As a result, investors suffered financial loss due to the company's share price declining on the revelation, the complaint says (see below). "The Democrats asked two hours of questions".

The council is offering free, high-speed Wi-Fi to Games visitors, but users will be asked to log on through their Facebook accounts.

Under that settlement, Facebook had pledged to better protect its users' personal information.

Commissioner Elizabeth Denham is pursuing a warrant to search Cambridge Analytica's servers. "If Congress wants to look into the matter or other agencies want to look into the matter, we welcome that", Shah said on Fox News. Facebook has promised "a comprehensive internal and external review". But the stakes are bigger this time.

However, there is no indication of a formal investigation.

The firm's chief data officer, Dr Alexander Tayler - who was also filmed discussing campaign strategy for Mr Trump - will serve as acting CEO. Collins said the new powers for the commissioner would speed up the process. The company boasted it could develop psychological profiles of consumers and voters which was a "secret sauce" it used to sway them more effectively than traditional advertising could.

On Monday, Channel 4 broadcast the hidden-camera exclusive that appeared to catch Nix acknowledging that the firm works secretly in political campaigns around the world by using front companies and subcontractors.

Announcing Nix's suspension, Cambridge Analytica's board said Nix would stand aside immediately pending an investigation into the various allegations.

The data firm was funded in part by Republican billionaire and Trump donor Robert Mercer, who also funded the right-wing website Breitbart News. "They don't know how it works", he says.

"Recent media reports regarding the use of personal information posted on Facebook for political purposes raise serious privacy concerns", Therrien said in the statement.

The move comes after Bloomberg first reported the FTC could already be investigating. Its $49.4 billion loss in market value this week is larger than the market valuation of Ford, eBay or Delta.



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