Facebook controversy; G20 tensions; Activist at Barclays

1. Facebook falters: Shares in Facebook are down about 3% in extended trading after ...

Posted: Mar 19, 2018 1:11 PM
Updated: Mar 19, 2018 1:11 PM

1. Facebook falters: Shares in Facebook are down about 3% in extended trading after weekend revelations about a data controversy prompted renewed scrutiny of the social media giant.

Concerns have grown about how Facebook user data was used to reach voters ahead of the 2016 US presidential election.

Christopher Wylie, who co-founded and previously worked for Cambridge Analytica, said he harvested data from millions of Facebook users that "allowed us to move into the hearts and minds of American voters in a way that had never been done before."

Cambridge Analytica is a controversial data firm that worked for Donald Trump's presidential campaign.

Facebook has suspended Cambridge Analytica and Wylie from its platform and is conducting a review after reports that Cambridge Analytica gained access to information about 50 million Facebook users in violation of its policies.

2. Tariffs and the G20: Frictions over global trade loom over the G20 meeting of major world economies, which begins Monday in Buenos Aires.

Trump's plan to impose tariffs on steel and aluminum sent a tremor through global markets and angered US trade partners, who said they aren't afraid to retaliate. The administration has offered exemptions to Canada and Mexico. It's unclear whether other countries will be spared.

"This is a very significant moment in the G20 and elsewhere," said Edward Alden, a senior fellow at the Council on Foreign Relations. "The US is trying to force a change in its trading relationships with the world, and every country in the G20 is going to have to decide how to respond to that."

3. Putin wins again: President Vladimir Putin won a landslide victory in Sunday's election, according to Russian state television quoting Russian Central Election Commission data.

Putin was widely expected to win. His fiercest opponent, Alexei Navalny, was barred from the race.

"To the surprise of no one, Russian President Putin was re-elected over the weekend. This suggests Russian policies carry on, and foreign governments' policies towards Russia carry on. There is nothing here to change market expectations," said Paul Donovan, global chief economist at UBS Wealth Management.

Putin is now starting a new 6-year term, the last he can serve according to the Russian constitution.

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4. China's central bank gets a new boss: There's a new leader at China's powerful central bank.

China's parliament confirmed Monday that deputy governor Yi Gang has been promoted to the top job at the People's Bank of China. He replaces veteran governor Zhou Xiaochuan, who is retiring after leading China's central bank for more than 15 years.

Yi is a US-educated economist who speaks English fluently. He has been deputy governor of the central bank for the last decade. He begins his first five-year term at the central bank immediately.

5. Global market overview: There's a fair bit of negativity in the markets right now.

US stock futures are declining. Facebook is one of the main losers on Monday morning.

European markets are all in the red in early trading. Asian markets ended the day with mixed results.

Meanwhile, shares in Barclays are up about 4% in London after the British bank reported that the fund run by activist investor Edward Bramson had acquired a 5.2% stake.

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6. Coming this week:
Monday - Oracle earnings; G20 meeting starts
Tuesday -
FedEx earnings
Wednesday - General Mills earnings; AT&T trial opening statements; Jerome Powell has his first press conference on interest rates as chairman of the Federal Reserve
Thursday - Darden, Nike earnings

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 60101

Reported Deaths: 1689
CountyConfirmedDeaths
Hennepin19057831
Ramsey7444265
Dakota4334104
Anoka3618114
Stearns288620
Washington207744
Nobles17626
Olmsted171823
Scott153218
Mower10992
Rice10298
Blue Earth9115
Wright8695
Carver8413
Clay77940
Sherburne7188
Kandiyohi6891
St. Louis52119
Lyon4263
Todd4242
Freeborn3591
Steele3451
Nicollet33313
Benton3203
Watonwan3080
Winona25916
Crow Wing23214
Beltrami2230
Le Sueur2171
Martin2075
Chisago1991
Otter Tail1933
Goodhue1929
Cottonwood1770
McLeod1730
Pipestone1559
Becker1521
Polk1504
Waseca1480
Douglas1391
Itasca13812
Unassigned13741
Carlton1350
Pine1290
Dodge1260
Isanti1230
Murray1221
Chippewa1031
Wabasha910
Morrison891
Brown882
Faribault870
Meeker852
Rock830
Sibley832
Jackson810
Koochiching773
Pennington751
Mille Lacs713
Cass692
Fillmore640
Renville635
Lincoln570
Grant533
Swift521
Yellow Medicine520
Roseau470
Pope460
Aitkin401
Houston390
Norman390
Redwood360
Kanabec341
Wilkin343
Hubbard330
Marshall300
Mahnomen261
Wadena260
Red Lake240
Big Stone220
Lake200
Stevens180
Clearwater140
Traverse100
Lac qui Parle70
Cook30
Kittson30
Lake of the Woods20

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 48398

Reported Deaths: 925
CountyConfirmedDeaths
Polk10223207
Woodbury371652
Black Hawk311566
Linn234887
Johnson206719
Dallas187835
Buena Vista179112
Scott171614
Dubuque166531
Marshall143826
Pottawattamie131426
Story116014
Wapello88133
Muscatine84648
Webster8017
Crawford7273
Sioux6253
Cerro Gordo60917
Warren5571
Tama54929
Jasper47626
Wright4651
Plymouth4579
Dickinson3804
Clinton3793
Louisa37814
Washington29810
Boone2553
Hamilton2461
Franklin23910
Bremer2247
Clarke1993
Emmet1914
Carroll1881
Clay1861
Shelby1831
Hardin1780
Des Moines1692
Marion1690
Poweshiek1578
Benton1551
Allamakee1544
Floyd1532
Jackson1511
Mahaska13917
Cedar1311
Guthrie1315
Jones1302
Buchanan1271
Hancock1222
Butler1212
Henry1203
Madison1182
Pocahontas1152
Lee1133
Lyon1132
Delaware1111
Cherokee1081
Humboldt1081
Harrison1060
Clayton1043
Taylor980
Iowa971
Winneshiek951
Page940
Monona910
Kossuth890
Mills890
Palo Alto840
Sac840
Calhoun832
Jefferson830
Osceola830
Fayette820
Grundy791
Winnebago790
Mitchell780
Union771
Monroe727
Cass711
Worth660
Lucas634
Montgomery594
Davis551
Chickasaw540
Howard490
Appanoose483
Fremont420
Greene410
Keokuk341
Van Buren341
Adair290
Ida290
Audubon281
Decatur230
Ringgold211
Wayne191
Adams160
Unassigned70
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