Silicon Valley argues that Wall Street focuses too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
More tit-for-tat tariffs in the U.S.-China trade war could set the global economy up for a recession, according to Morgan Stanley.Marketsread more
A sell-off in chip stocks intensified following a report that chipmakers are cutting ties with Huawei after the Trump administration's ban.Marketsread more
A series of tweets Monday marked the latest chapter in Trump's decadeslong effort to refute published reports that his previous financial problems have rendered him an...Politicsread more
President Trump stands a chance of creating a new economic world order in his China trade fight, says the chief economic advisor of Allianz.Economyread more
Sens. Mitch McConnell and Tim Kaine introduced a bill Monday that would raise the minimum age to buy tobacco to 21 in hopes of curbing what regulators are calling an...Health and Scienceread more
McGahn is cited more than any other witness in special counsel Robert Mueller's 448-page Russia report.Politicsread more
Ford Motor said Monday that it is laying off about 7,000 salaried workers, about 10% of that global workforce, as part of a restructuring plan designed to save the No. 2...Autosread more
Despite high criticism from fans, the final episode of "Game of Thrones" shattered single-night viewing records Sunday, with 19.3 million tuning in to watch the finale.Entertainmentread more
The New York state attorney general's office on Thursday announced plans to open an investigation into Facebook's improper collection of users' contact lists.
New York Attorney General Letitia James on Thursday tweeted that "It's time Facebook be held accountable for how it handles consumers' personal info." The investigation was first reported by the New York Times.
Since 2016, Facebook collected the address book data of 1.5 million users whom were asked to enter their email passwords when signing up for new accounts to verify their identities, according to a Business Insider report earlier this month. The company said it had "unintentionally uploaded" that data.
The New York attorney general's office's investigation will focus on how this practice occurred and whether more users were impacted, according to the Thursday report.
This news comes a day after Facebook took a one-time $3 billion charge in anticipation of a possible fine from the Federal Trade Commission. Facebook warned the actual charge could be as much as $5 billion. The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 million Facebook users.
Facebook did not responded to a request for comment.
Shares were unchanged after hours, after rising nearly 6%% during the day following a blowout earnings report on Wednesday.