Facebook warns of costly privacy changes, discloses another US probe
Thursday, July 25, 2019, 8:03 PM
Facebook Inc said that new data privacy rules and forthcoming privacy-focused product changes would slow its revenue growth and significantly raise expenses, driving down its shares in after-hours trade even as quarterly revenue topped estimates. The outlook came soon after the company agreed to pay $5 billion to settle a data privacy probe and disclosed that it faces a new U.S. government antitrust investigation.
Facebook comes under European Union's antitrust scrutiny
Wednesday, July 3, 2019, 12:38 PM
Facebook Inc. is under scrutiny by European antitrust regulators who want information on whether the social network uses its size to squeeze smaller rivals. The European Commission has sent questionnaires to Facebook's customers and competitors about a range of practices, according to two people familiar with the matter. Companies have been asked to respond by next week, said the source.