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But the bank's net interest margin, a key metric of bank profitability, falls short of expectations.Financeread more
Citi Research has an 18-item checklist to identify whether global markets are entering into a "bear period."Investingread more
The CEO of railroad operator CSX is sounding alarm on the U.S. economy, calling it "unusual" and "puzzling" as it weighs on the company's shipping volumes.Marketsread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
"Here's what I think is true: Google refused to work for the Pentagon on artificial intelligence" and it works on AI in China, says Richard Clarke.Technologyread more
Buying stocks when they are this expensive has historically led to lower returns, data compiled by Ned Davis Research shows.Marketsread more
Microsoft's effort to catch Amazon Web Services in cloud got a major boost from a new deal with AT&T and an agreement to build out services for 5G.Technologyread more
Uber launches a shopping app with Cargo, an on-the-go convenience store. They already have been working together to put consoles selling snacks in cars.Retailread more
Hedge fund manager Kyle Bass reportedly thinks that U.S. interest rates will plummet toward zero in 2020 as the economy heads for recession.Hedge Fundsread more
If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market, Michael Santoli notes.Trading Nationread more
Carolyn Everson, Facebook's vice president of marketing, says that the company is "outraged and beyond disturbed" by the bombshell reports this weekend that firm Cambridge Analytica misused the data of 50 million people.
"If the allegations are true, this is an incredible violation of everything that we stand for," Everson added in response to a question on stage at the ShopTalk retail conference in New York City on Monday.
Everson is the first Facebook exec to take live, in-person questions about the recent allegations that Cambridge Analytica had never deleted improperly obtained user data that it received from a Russian-American researcher in 2015.
The firm told Facebook that it had deleted the data, while reports published by The New York Times and the Guardian this weekend said it did not. Everson reiterated that Facebook is conducting a "deep audit" to "understand what happened."
In the wake of the revelations, media and users have criticized Facebook for being lax about securing user information and for its top executives' lack of leadership in publicly addressing the situation.
The company's chief security officer, Alex Stamos, previously posted a string of tweets about how the incident didn't constitute a "data breach" and then deleted them.
He is reportedly leaving the company due to disagreements with management about how the company deals with disinformation.
Everson said that the allegations were "an incredible violation of everything that we stand for."