Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Facebook discovered a security issue that allowed hackers to access information that could have let them take over around 50 million accounts, the company announced Friday.
"This is a very serious security issue, and we're taking it very seriously," said CEO Mark Zuckerberg on a call with reporters.
Facebook shares, which were already down about 1.5 percent before the announcement, extended losses after the disclosure and ended down 2.6 percent.
The company said in a blog post that its engineering team found on Tuesday that attackers identified a weakness in Facebook's code regarding its "View As" feature. Facebook became aware of a potential attack after it noticed a spike in user activity on Sept. 16.
"View As" lets users see what their profile looks like to other users on the platform. This vulnerability, which consisted of three separate bugs, also allowed the hackers to get access tokens — digital keys which let people stay logged into the service without having to re-enter their password — which could be used to control other people's accounts.
Almost 50 million accounts had their access tokens taken, and Facebook has reset those tokens. The company also reset tokens for an additional 40 million accounts who used the "View As" feature in the last year as a precautionary measure, for a total of 90 million accounts. Facebook had 2.23 billion monthly active users as of June 30.
The reset will require these users to re-enter their password when they return to Facebook or access an app that uses Facebook Login. They will also receive a notification at the top of their News Feed explaining what happened.
In addition, the company suspended the "View As" feature while it reviews its security. Facebook said it fixed the issue on Thursday night and has notified law enforcement including the FBI and the Irish Data Protection Commission in order to any address General Data Protection Regulation (GDPR) issues.
Facebook said it has just begun its investigation and has not determined if any information was misused, but the initial investigation has not uncovered any information abuse. The hackers did query Facebook's API system, which lets applications communicate with the platform, to get more user information. The company is not sure if the hackers used that data, nor does it know who orchestrated the hack or where the person or people are based.
The company said there is no need to change passwords. If additional accounts are affected, Facebook said it will immediately reset those users' access tokens. Facebook is doubling the number of employees who are working to improve security from 10,000 to 20,000, the company reiterated.
"Security is an arms race, and we're continuing to improve our defenses," Zuckerberg said. "This just underscores there are constant attacks from people who are trying to underscore accounts in our community."
Zuckerberg addressed the issue in a Facebook post on his account. Read it below: