*By Conor White*
Facebook is bracing for another round of questions and criticism after confirming a New York Times report that the social networking giant made a deal with four Chinese electronics companies to share user data. One of those companies is phone maker Huawei, which has been deemed a national security threat by U.S. intelligence agencies.
According to President George W. Bush's former Chief Information Officer, Theresa Payton, this scandal could be even bigger than the one unleashed by Cambridge Analytica.
"This is a compounding effect," Payton said in an interview with Cheddar. "So we've got this drip, drip, drip going on, and candidly, it would be in Facebook's best interest and all other high-tech companies who offer us free services in exchange for us on being the product, the collection of our data, and the packaging and reselling of our data, to come forward and say 'we are investigating not only our practices, making sure there's no violation of the practices, but we are investing in understanding the true usage of that data after we sell it.'"
Facebook confirmed it made the deal with Huawei and defended its practices. The company said it had already ended the data partnerships with three of the four Chinese companies. Facebook said it would end the partnership with Huawei this week.
Payton, now the CEO of cybersecurity firm Fortalice Solutions, said Facebook's intentions are to blame.
"They really do want to be a force for good, and so they believe that people that are buying this data, that it's also a force for good, and they're not really putting together things that are outside of their control."
For full interview, [click here]( https://cheddar.com/videos/why-facebook-could-be-facing-its-greatest-challenge-yet).
Peacock shared the trailer for the second season of the celebrity competition show, 'The Traitors.'
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
