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NAS:FB, Apr 21, 07:14 UTC

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Stock Market Faces 5 Big Tests Involving Apple, Alphabet, Facebook, Intel, Twitter

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Can the major indexes reclaim key support? Can Apple hold its 200-day? Will the 10-year Treasury yield top 3%? And is Twitter a better stock than Facebook or Google-parent Alphabet?

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Facebook spent record amount on US lobbying amid Cambridge Analytica row

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Facebook spent record amount on US lobbying amid Cambridge Analytica row. Facebook spent a record amount on lobbying in Washington, ahead of chief executive Mark Zuckerberg's Senate hearing on the Cambridge Analytica data breach. The social media giant spent a total of $3.3m (£2.4m) on lobbying the US government during the first three months of 2018, up from its previous record of $3.21m the same period a year earlier. In the last couple of weeks of March, Facebook was engulfed in a privacy row after it emerged data from 87 million users had been scraped by Cambridge Analytica in 2014, despite only 270,000 people having actually downloaded the app which managed to access the data.

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Alex Kogan fires back at Facebook

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Alex Kogan fires back at Facebook. App developer at heart of Facebook privacy scandal says FB didn't enforce rules – this Sunday on 60 minutes. What to read next.

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More Facebook videos will get pre-roll ads soon

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Facebook plans to try out pre-roll ads -- that is, commercials that play before videos -- in more parts of its service. In a blog post published today, the social network said it's expanding the trials to "places where people seek out videos, like in search results or on a Page timeline." So don't be surprised if you soon have to wait five seconds for an ad to finish before you can watch that cute puppy video you clicked on. Pages that primarily post "videos of repurposed clips from other sources with limited editorialization" won't face enforcement just yet, but Facebook said it "will more deeply evaluate over the coming weeks and months to assess what level of distribution and monetization matches the value created for people." This means those profiles could receive less money for ads on their videos. As it pushes ahead with more types of ads on its service, it's heartening that Facebook is at least looking out for potential abuse of the system. What to read next.

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After Facebook's Data 'Blow-Up' Are DAOs Leveraging Blockchain The Future?

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Following the data breach involving Cambridge Analytica that embroiled Facebook and brought the social media giant CEO’s Mark Zuckerberg to testify on Capitol Hill, are Decentralized Autonomous Organizations (DAOs), run according to rules established through blockchain smart contracts, the future?

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A Look at the Regulations Facebook Is Facing

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Although Facebook’s (FB) business model is not under any real risk from the US regulators for the time being, it is unclear how and when they may step in. However, the social media giant is taking preliminary steps to comply with the EU’s (European Union) data privacy regulation. The GDPR (General Data Protection Regulation) is set to go into effect on May 25, 2018.

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Analyst says Facebook damage is 'contained' despite a survey showing people are using it less

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CNBC20 April 2018. Some people report using Facebook less, but that damage might be outweighed in an upcoming earnings report by healthy Instagram's advertising sales. About 15 percent of users said in a poll that they will decrease their use of Facebook after a data scandal related to Cambridge Analytica, according to Daniel Ives, head of technology research at GBH Insights, in a Friday research note. But the number that said they deleted their accounts was "negligible," suggesting that the backlash has been contained, Ives said. CEO Mark Zuckerberg sat before members of Congress to address the issue, and Ives said he thought Zuckerberg handled the grilling well. And during a joint hearing of the Senate Judiciary and Commerce committees, Zuckerberg said there had not been a dramatic falloff in the number of people that use Facebook. But while Zuckerberg has already addressed Capitol Hill, he will address Wall Street next week during the earnings report. "[E]arnings will be the next key step for investors to either boost their confidence in the Facebook story going forward or raise further red flags around the risk profile going forward," Ives wrote. Until the "pivotal" quarterly report is released, Ives said he remains optimistic on Facebook's business prospects, thanks to increased monetization from "golden jewel" Instagram, which is owned by Facebook.

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It Cost $20 Million to Secure and Transport Facebook’s CEO

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It seems Mark Zuckerberg is one of Facebook’s (FB) most valuable assets. Facebook bumped up the budget toward Zuckerberg’s security by 50% in 2017, spending more than $7.3 million to protect the top executive during a year in which the company came under sharp criticism over its role in spreading false news and political propaganda.

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Facebook co-founder on his $430 million fortune: 'The only thing we can call it is a lucky break'

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'Hughes became a co-founder of Facebook with Zuckerberg and made "half a billion dollars for three years of work," according to a February 2018 LinkedIn post by Hughes.', '"You know, the only thing we can call it is a lucky break," Hughes says of his wealth — $430 million as of December 2016, according to Forbes — on a recent episode of Kara Swisher\'s Recode Decode podcast.', '"I grew up in a little town, Hickory, North Carolina. It\'s at the foothills of the Appalachian Mountains … I grew up there, my mom was a public school teacher, dad was a traveling paper salesman, but then I got a scholarship to go to a fancy boarding school, Phillips Andover, up in Massachusetts," Hughes says. "It was there where I lost the accent and then later got a scholarship to go to Harvard and met Mark Zuckerberg, freshman year. We ended up roommates sophomore year, started Facebook in February of 2004, the rocket ship took off and my life changed pretty dramatically," he explains.', '"Let\'s face it. There is something wrong with our system when I can leave here and make billions of dollars in 10 years while millions of students can\'t afford to pay off their loans, let alone start a business," Zuckerberg said in his commencement address. "We all know we don\'t succeed just by having a good idea or working hard. We succeed by being lucky too. If I had to support my family growing up instead of having time to code, if I didn\'t know I\'d be fine if Facebook didn\'t work out, I wouldn\'t be standing here today. If we\'re honest, we all know how much luck we\'ve had," Zuckerberg said.'

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Facebook's damage limitation drive hits trouble in Germany

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"BERLIN/FRANKFURT (Reuters) - Facebook's attempt to limit fallout from a massive data breach hit trouble in Germany on Friday as a privacy watchdog opened a case against the social network and politicians accused its bosses of evasion.", "The social network has been at the center of controversy over suspected Russian manipulation of the 2016 U.S. presidential election via its platform, and the leak of personal data of 87 million users to a political consultancy that advised Donald Trump's team.", 'A German data privacy regulator said it was opening a non-compliance procedure against Facebook in relation to the data leak to the consultancy, Cambridge Analytica, that was exposed a month ago.', 'Such a fine, if imposed, would only be a pinprick for Facebook, which recorded revenues of more than $40 billion last year. But the case marks a warning shot ahead of the introduction of tougher privacy rules across the European Union on May 25 that foresee penalties of up to four percent of worldwide revenues for serious violations.'

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