Facebook Fallout Intensifies, Weinstein Co. Files for Bankruptcy
The fallout from Facebook's latest data scandal continues to intensify. Reports emerged late Monday that Facebook's chief security officer is leaving the company later this year amid a dispute over how the company handles the spread of misinformation. In response to the reports, Alex Stamos said on Twitter that he is “still fully engaged" with his work at Facebook. Criticism of the social networking company is growing after it came to light that the data firm Cambridge Analytica gained access to information on 50 million Facebook users without their knowledge.
The Weinstein Co. officially files for bankruptcy protection after many attempts to sell the company failed. The Dallas-based Lantern Capital Partners firm is acquiring the company's assets. The Weinstein Co. is also ending all non-disclosure agreements with women who were forced to stay silent up until now, and encouraging those women to speak up. This follows numerous sexual assault allegations against the company's co-founder Harvey Weinstein.
“Extraneous materials” triggered nine recalls in 2022 of more than 477,000 pounds of food regulated by the U.S. Department of Agriculture’s Food Safety and Inspection Service — triple the number of recalls tied to food contaminated with toxic E. coli bacteria.
About 146,000 U.S. auto workers are set to go on strike this week if General Motors, Ford and Stellantis fail to meet their demands for big pay raises and the restoration of concessions the workers made years ago when the companies were in financial trouble.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we talk about Kroger, Apple, Roku, Quantas Airways and Warners Bros. Discovery.
