Facebook is under wider scrutiny for how it handles user data.
The FBI, Securities and Exchange Commission, and Federal Trade Commission have reportedly joined the Justice Department's investigation into the relationship between Facebook and data firm Cambridge Analytica.
The expanded probe, first reported by the [Washington Post](https://www.washingtonpost.com/technology/2018/07/02/federal-investigators-broaden-focus-facebooks-role-sharing-data-with-cambridge-analytica-examining-statements-tech-giant/?noredirect=on&utm_term=.4626644756e0), centers on why it took so long for the social media company to disclose the fact that Cambridge had gained access to information on tens of millions of users.
Facebook has said it learned back in 2015 that Cambridge was using data gleaned from its platform to create voter profiles of users, but it only made that revelation public this past March. And while the company said it changed its data policies years ago to prevent third parties from accessing private information, just last week it said as many as 61 app developers were able to get that information even after those changes were implemented.
Shares of Facebook, which have more than recovered from the initial Cambridge scandal and hit an all-time high last month, were down on the news.
Higher rents and food prices boosted overall U.S. inflation in December, a sign that the Federal Reserve's drive to slow inflation to its 2% target will likely remain a bumpy one.
Tech companies of all sizes are showing off their latest gadgets at CES 2024 in Las Vegas. And that includes new technology that's changing the world of food and drinks.
Matt Hougan, CIO of Bitwise Asset Management, gives Cheddar the latest on the Securities and Exchange Commission approval of bitcoin ETFs. Hougan calls this time a 'potential major milestone for bitcoin.'
LeBron James has agreed to an exclusive deal with Fanatics Collectibles. James and his son, Bronny, will appear together on a unique sports trading card to herald the Los Angeles Lakers superstar’s new multiyear partnership with Fanatics.
Joe Zhao, Managing Partner at Millennia Capital, joined Cheddar to discuss the latest stock moves and how the market is being impacted by artificial intelligence.
Wall Street was quiet early following a lackluster session a day earlier as markets await U.S. inflation data and high-profile corporate earnings reports later in the week.
