U.S. officials, including Secretary of State Mike Pompeo, have accused Iran of orchestrating devastating strikes on Saudi oil installations over the weekend.Politicsread more
Thousands of Canadian auto industry workers have been furloughed with more temporary layoffs coming as negotiations on a new labor contract between General Motors and the...Autosread more
Rosengren was one of two central bank officials to vote against Wednesday's quarter-point rate reduction, and explained in a speech to the Stern School of Business at New York...Economyread more
The process will involve three 14-day operations involving $30 billion as well as continued overnight operations of at least $75 billion each.The Fedread more
"The president is right to make this the center point of the rising and sustained trade conflict," says Sen. Chris Coons.Politicsread more
Some businesses, mostly small- to mid-sized companies, are providing workers with paid time off to join the Global Climate Strike, while others are shutting down operations...Weather & Natural Disastersread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
"We're gonna take this meeting by meeting. We're not on a preset course," Clarida told CNBC's Sara Eisen during an interview Friday on "Squawk on the Street."The Fedread more
Netflix CEO Reed Hastings admitted that it's a "whole new world starting in November," with the launch of Apple TV+, Disney+ and other new streaming services.Technologyread more
President Donald Trump sarcastically tweeted that New York City "is devastated" by Mayor Bill de Blasio's exit from the 2020 presidential race. Two other Democratic mayors,...2020 Electionsread more
The United Auto Workers union and General Motors are making progress on their labor contract talks, however there remain "many" outstanding issues, according to a union leader...Autosread more
Facebook stock suffered its third worst week of all time in the wake of the Cambridge Analytica data scandal — which heightened privacy concerns and spurred government probes into the social media giant.
The company's shares fell more than 13 percent for the week, closing Friday just below $160.
Still, Facebook lost roughly $75 billion in market capitalization this week.
The company is facing questions from lawmakers on both sides of the Atlantic about how it handles personal user data after a pair of weekend reports by The Observer newspaper in the U.K. and The New York Times alleged research firm Cambridge Analytica improperly gained access to the data of more than 50 million Facebook users.
The stock fell nearly 7 percent Monday after the reports.
The shares dropped another 2.5 percent Tuesday after reports that the FTC would investigate Facebook's role in the data leak.
Wednesday saw Facebook's only single-day gain for the week — shares closed up less than a percent after CEO Mark Zuckerberg broke days of silence and apologized for the incident.
By Thursday, a #deletefacebook movement had gained momentum and analysts had downgraded the stock citing an uncertain path forward.
The company's highest executives appeared receptive to calls from lawmakers for official testimony and major advertisers reported the leak wouldn't steer them away from the platform — but the shares still fell another 2.5 percent.
The stock closed down more than 3 percent Friday, making the weeklong tumble Facebook's worst since July 2012 — just two months after the company went public.
After the week's losses, Facebook is more than 18 percent off its 52-week high of $195.32