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.
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The Court of Appeals for the Federal Circuit on Thursday allowed the president to temporarily continue collecting the tariffs under the emergency powers law while he appeals the trade court’s decision.
Macy’s sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that a trade war launched by the U.S., trimmed its profit forecast for 2025.
