Facebook controversy; G20 tensions; Activist at Barclays

1. Facebook falters: Shares in Facebook are down about 3% in extended trading after ...

Posted: Mar 19, 2018 2:11 PM
Updated: Mar 19, 2018 2:11 PM

1. Facebook falters: Shares in Facebook are down about 3% in extended trading after weekend revelations about a data controversy prompted renewed scrutiny of the social media giant.

Concerns have grown about how Facebook user data was used to reach voters ahead of the 2016 US presidential election.

Christopher Wylie, who co-founded and previously worked for Cambridge Analytica, said he harvested data from millions of Facebook users that "allowed us to move into the hearts and minds of American voters in a way that had never been done before."

Cambridge Analytica is a controversial data firm that worked for Donald Trump's presidential campaign.

Facebook has suspended Cambridge Analytica and Wylie from its platform and is conducting a review after reports that Cambridge Analytica gained access to information about 50 million Facebook users in violation of its policies.

2. Tariffs and the G20: Frictions over global trade loom over the G20 meeting of major world economies, which begins Monday in Buenos Aires.

Trump's plan to impose tariffs on steel and aluminum sent a tremor through global markets and angered US trade partners, who said they aren't afraid to retaliate. The administration has offered exemptions to Canada and Mexico. It's unclear whether other countries will be spared.

"This is a very significant moment in the G20 and elsewhere," said Edward Alden, a senior fellow at the Council on Foreign Relations. "The US is trying to force a change in its trading relationships with the world, and every country in the G20 is going to have to decide how to respond to that."

3. Putin wins again: President Vladimir Putin won a landslide victory in Sunday's election, according to Russian state television quoting Russian Central Election Commission data.

Putin was widely expected to win. His fiercest opponent, Alexei Navalny, was barred from the race.

"To the surprise of no one, Russian President Putin was re-elected over the weekend. This suggests Russian policies carry on, and foreign governments' policies towards Russia carry on. There is nothing here to change market expectations," said Paul Donovan, global chief economist at UBS Wealth Management.

Putin is now starting a new 6-year term, the last he can serve according to the Russian constitution.

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4. China's central bank gets a new boss: There's a new leader at China's powerful central bank.

China's parliament confirmed Monday that deputy governor Yi Gang has been promoted to the top job at the People's Bank of China. He replaces veteran governor Zhou Xiaochuan, who is retiring after leading China's central bank for more than 15 years.

Yi is a US-educated economist who speaks English fluently. He has been deputy governor of the central bank for the last decade. He begins his first five-year term at the central bank immediately.

5. Global market overview: There's a fair bit of negativity in the markets right now.

US stock futures are declining. Facebook is one of the main losers on Monday morning.

European markets are all in the red in early trading. Asian markets ended the day with mixed results.

Meanwhile, shares in Barclays are up about 4% in London after the British bank reported that the fund run by activist investor Edward Bramson had acquired a 5.2% stake.

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6. Coming this week:
Monday - Oracle earnings; G20 meeting starts
Tuesday -
FedEx earnings
Wednesday - General Mills earnings; AT&T trial opening statements; Jerome Powell has his first press conference on interest rates as chairman of the Federal Reserve
Thursday - Darden, Nike earnings

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 613228

Reported Deaths: 9728
CountyCasesDeaths
Marion846851338
Lake45676687
Allen32980552
Hamilton29649315
St. Joseph27531382
Elkhart24478345
Vanderburgh19610250
Tippecanoe18108141
Johnson15191295
Porter14944169
Hendricks14485250
Madison11044222
Clark10811144
Vigo10795181
Monroe9458113
Delaware9170134
LaPorte9145164
Howard8292144
Kosciusko810183
Warrick680299
Hancock6782104
Bartholomew6640100
Floyd6507110
Wayne6177162
Grant6027116
Dubois558680
Boone556468
Morgan548695
Henry511464
Marshall506984
Cass486964
Dearborn486545
Noble475659
Jackson427747
Shelby420781
Lawrence393780
Clinton375044
Gibson374459
Harrison353045
DeKalb349864
Montgomery347654
Knox336239
Miami324544
Steuben315046
Whitley311126
Wabash305851
Adams302836
Ripley300546
Putnam298950
Huntington294860
Jasper291734
White275143
Daviess271774
Jefferson266238
Decatur249583
Fayette248648
Greene242262
Posey241028
Wells236951
LaGrange230062
Scott226839
Clay224332
Randolph215248
Jennings200636
Sullivan193533
Spencer193022
Washington188023
Fountain184927
Starke176444
Jay168623
Owen167637
Fulton164830
Orange160935
Carroll159715
Rush156318
Perry155929
Vermillion149734
Franklin149333
Tipton133133
Parke13088
Pike118526
Blackford111822
Pulaski97837
Newton92021
Brown88335
Benton87110
Crawford8099
Martin74913
Warren6857
Switzerland6695
Union6297
Ohio4977
Unassigned0376

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 868656

Reported Deaths: 10768
CountyCasesDeaths
Franklin102154707
Cuyahoga865201153
Hamilton64744448
Montgomery43516419
Summit35250762
Lucas31663631
Butler31268232
Stark26096443
Warren19830142
Lorain19296229
Mahoning17471339
Lake16250154
Clermont16128112
Delaware1453680
Licking13326137
Fairfield1294981
Trumbull12920317
Greene12174141
Medina11732168
Clark11058265
Wood10457158
Allen9988127
Portage9454111
Miami924473
Richland9236118
Marion7486113
Tuscarawas7440183
Columbiana7409124
Pickaway732150
Wayne7111172
Muskingum710342
Erie6221130
Ross5558100
Hancock555292
Scioto542764
Geauga515955
Darke473492
Lawrence460658
Union456928
Ashtabula456473
Sandusky439562
Mercer435089
Seneca433866
Huron432841
Auglaize424164
Shelby422522
Jefferson422469
Belmont421145
Washington394240
Athens38389
Putnam378075
Madison358129
Knox356122
Ashland349038
Fulton340443
Defiance334486
Crawford325774
Preble322737
Brown315821
Logan312132
Ottawa296543
Clinton291543
Williams280367
Highland279018
Jackson265845
Guernsey257126
Champaign253428
Fayette239530
Morrow23464
Perry233718
Holmes226774
Henry221953
Hardin215533
Coshocton206922
Van Wert203445
Gallia199826
Wyandot196751
Pike178017
Adams177715
Hocking173224
Carroll157616
Paulding145321
Noble121040
Meigs109724
Monroe102232
Harrison89921
Morgan83931
Vinton71314
Unassigned00
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