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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.

Cases: 295001

Reported Deaths: 3535
CountyCasesDeaths
Hennepin624331107
Ramsey26238493
Anoka20851224
Dakota20527189
Stearns13245106
Washington13220111
St. Louis8141108
Scott798154
Wright720338
Olmsted639934
Sherburne552241
Clay473356
Carver443213
Blue Earth395813
Rice393335
Kandiyohi378719
Crow Wing344731
Nobles301429
Chisago29799
Otter Tail288820
Benton285847
Winona266629
Mower248523
Douglas242235
Polk238223
Morrison224027
Lyon206711
Beltrami202517
McLeod198511
Becker194015
Goodhue190628
Steele18336
Itasca179123
Isanti179016
Todd173912
Carlton170414
Nicollet154925
Freeborn14795
Mille Lacs145131
Le Sueur141111
Waseca135911
Cass133310
Brown131215
Pine12788
Meeker11638
Roseau11074
Hubbard107523
Martin105520
Wabasha9941
Redwood87518
Dodge8230
Chippewa8157
Watonwan8104
Cottonwood7942
Renville77322
Sibley7564
Wadena7476
Aitkin71729
Rock7149
Pipestone69618
Houston6534
Fillmore6510
Yellow Medicine61511
Pennington6137
Murray5623
Kanabec55713
Swift5448
Faribault5251
Pope5071
Clearwater4817
Stevens4813
Jackson4581
Marshall4508
Lake3916
Unassigned38659
Koochiching3675
Wilkin3605
Lac qui Parle3513
Lincoln3331
Norman3307
Big Stone2962
Mahnomen2834
Grant2566
Red Lake2033
Kittson2027
Traverse1391
Lake of the Woods941
Cook630

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 223783

Reported Deaths: 2330
CountyCasesDeaths
Polk33166333
Linn13991164
Scott1100384
Black Hawk10795134
Woodbury10255124
Johnson940036
Dubuque913491
Story674921
Dallas629057
Pottawattamie617069
Sioux366725
Webster357033
Cerro Gordo349644
Marshall346345
Clinton322840
Buena Vista302214
Muscatine282668
Des Moines282419
Warren276411
Plymouth270641
Wapello251571
Jones228413
Jasper214643
Marion202919
Lee199416
Carroll196422
Bremer192612
Henry18107
Crawford174115
Benton167418
Tama153340
Jackson143013
Delaware141021
Washington138214
Dickinson135810
Boone134811
Mahaska126127
Wright12226
Buchanan115410
Clay11504
Hardin114010
Page11144
Hamilton11009
Clayton10875
Harrison106629
Cedar106213
Calhoun10607
Kossuth10426
Floyd103916
Mills10297
Fayette102210
Lyon10188
Butler9916
Poweshiek98213
Winneshiek95812
Iowa93012
Winnebago91323
Hancock8547
Louisa84916
Grundy84611
Chickasaw8424
Sac8407
Cherokee8214
Cass80222
Allamakee79011
Appanoose77910
Mitchell7794
Humboldt7635
Shelby76111
Union7576
Emmet74924
Guthrie74115
Franklin73421
Jefferson7062
Madison6764
Palo Alto6474
Unassigned6470
Keokuk5777
Pocahontas5572
Howard5489
Greene5170
Osceola5171
Ida48113
Clarke4774
Taylor4603
Davis4548
Montgomery45011
Monroe43912
Adair4298
Monona4272
Fremont3553
Van Buren3545
Worth3540
Lucas3226
Decatur3160
Audubon2952
Wayne2957
Ringgold2082
Adams1652
Rochester
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