Why Facebook’s stock jumped despite facing a record-breaking $5 billion FTC penalty: ‘A slap on the wrist’ (FB)

Facebook’s stock rose around 1% after news broke that it is facing a record-breaking $1 billion penalty from the Federal Trade Commission. Investors are breathing a collective sigh of relief that the settlement isn’t more serious. Why? Facebook is absolutely vast, and makes three times the penalty in revenue every quarter. Critics of the company have immediately accused the FTC’s decision of being inadequate. Visit Business Insider’s homepage for more stories. The Federal Trade Commission is gearing up to hit Facebook with a staggering, record-breaking $5 billion penalty. Wall Street is viewing this as a good thing. And the reason why speaks volumes about the sheer scale and power of… Read More

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Tropical Storm Barry could breach New Orleans’ river levees. Here’s how the levee system works and how much it can withstand.

Tropical Storm Barry is strengthening in the Gulf of Mexico as it heads toward the Louisiana coast. It’s forecasted to make landfall as a Category 1 hurricane early tomorrow morning. A hurricane warning is in effect for New Orleans and other parts of the Louisiana coast. Forecasters say the Mississippi River could rise to levels of 19 feet — the highest since 1950. It could the biggest test ever for the river levees, which may be as low as 18 feet in some areas. Levee systems use earthen embankments, steel or concrete flood-walls, and pumps to hold back floodwaters. It’s unclear how much the systems along the Mississippi River can… Read More

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Is the Switch Lite the death knell for the Nintendo 3DS?

Nintendo this week revealed the Switch Lite, a handheld-only version of the Switch with a slimmer form. Naturally, the inclusion of this new Switch into Nintendo’s stable begs the question of what place the venerable 3DS has in the new family. Is the 3DS about to exit the stage. I would say maybe… but the Switch still has a long way to go. Nintendo’s had a handheld in its stable since the original Game Boy came out in 1989. The Switch Lite would be the first time the handheld has been related to the company’s home console in anyway, even though… This story continues at The Next Web Or just… Read More

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The FTC’s $5 billion fine for Facebook is so meaningless, it will likely leave Mark Zuckerberg wondering what he can’t get away with (FB)

The Federal Trade Commission’s reported deal to settle its investigation into Facebook’s alleged privacy violations looks like little more than a slap on the wrist. The settlement’s reported $5 billion fine, while a large amount to most people, isn’t all that much to Facebook, which generates that much cash every 49 days. The deal would be further indication for CEO Mark Zuckerberg that normal rules don’t apply to him or his company. Visit Business Insider’s homepage for more stories. Mark Zuckerberg must be feeling a bit like President Donald Trump now. During the 2016 presidential campaign, a confident Trump famously said that he could shoot someone on Fifth Avenue in… Read More

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FTC, Facebook Reportedly Agree To $5B Fine In Privacy Probe

Watch Video The Federal Trade Commission has reportedly reached a $5 billion agreement with Facebook in connection to its privacy probe into the social media company. Multiple outlets report that the agency voted this week to approve the settlement, citing unnamed sources. The FTC started investigating Facebook for potential privacy violations after the Cambridge Analytica data-sharing scandal, where tens of millions of users’ personal data was shared without explicit consent. That incident led to scrutiny from advocacy groups about the way consumers’ information is handled online, and in March, Facebook announced plans to turn itself into a privacy-focused platform. Lawmakers have also called for more regulation of big tech companies,… Read More

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