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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: 584227

Reported Deaths: 7297
CountyCasesDeaths
Hennepin1211481718
Ramsey50494868
Dakota45177443
Anoka40908433
Washington26429279
Stearns21950221
St. Louis17568302
Scott17036124
Wright15771136
Olmsted1312197
Sherburne1144384
Carver1035045
Clay809292
Rice7964106
Blue Earth740941
Crow Wing654188
Kandiyohi648282
Chisago584051
Otter Tail568978
Benton561497
Goodhue471972
Mower461432
Douglas460474
Winona448950
Itasca421153
McLeod417758
Morrison414560
Isanti410762
Nobles406748
Beltrami388558
Steele382015
Polk380368
Becker376450
Lyon357850
Carlton340953
Freeborn339929
Pine324121
Nicollet321443
Brown303540
Mille Lacs298252
Le Sueur286422
Todd278731
Cass266328
Meeker251340
Waseca235822
Martin228831
Roseau206119
Wabasha20383
Hubbard184241
Dodge18193
Renville178243
Redwood171536
Houston170215
Cottonwood163121
Fillmore154110
Wadena153621
Pennington153319
Chippewa151338
Faribault150319
Kanabec143024
Sibley141310
Aitkin133236
Watonwan13049
Rock127319
Jackson121411
Pipestone114226
Yellow Medicine113620
Pope10846
Murray10579
Swift104218
Stevens89211
Marshall87617
Clearwater85816
Koochiching81615
Lake80619
Wilkin79912
Lac qui Parle75022
Big Stone5934
Lincoln5733
Grant5648
Mahnomen5418
Norman5379
Unassigned49793
Kittson48222
Red Lake3957
Traverse3685
Lake of the Woods3193
Cook1560

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 364967

Reported Deaths: 5920
CountyCasesDeaths
Polk57277621
Linn20729334
Scott19808240
Black Hawk15757308
Woodbury15091228
Johnson1441183
Dubuque13326209
Dallas1111198
Pottawattamie11043168
Story1054948
Warren573688
Clinton552092
Cerro Gordo536389
Sioux512874
Webster510993
Marshall481075
Muscatine474699
Des Moines451766
Wapello4284122
Buena Vista424040
Jasper413771
Plymouth400179
Lee373155
Marion360575
Jones296957
Henry290737
Carroll284752
Bremer282860
Crawford265840
Boone262734
Benton255055
Washington253350
Dickinson247543
Mahaska229351
Jackson220942
Kossuth215164
Clay214725
Tama208971
Delaware208240
Winneshiek196733
Page192222
Buchanan190431
Cedar188923
Fayette184741
Hardin184643
Wright183436
Hamilton179249
Harrison179273
Clayton169156
Butler164234
Mills161422
Madison160419
Floyd159642
Cherokee158538
Lyon157541
Poweshiek154733
Allamakee150351
Iowa148124
Hancock146834
Winnebago141231
Cass137554
Calhoun136613
Grundy136033
Emmet133940
Jefferson132135
Shelby130437
Sac130119
Appanoose128048
Louisa127849
Union127832
Mitchell125742
Chickasaw123815
Guthrie120829
Humboldt118826
Franklin117421
Palo Alto112223
Howard104122
Montgomery102838
Unassigned10080
Clarke99824
Keokuk95331
Monroe95129
Ida90234
Adair86232
Pocahontas85422
Monona82730
Davis81824
Osceola77916
Greene77610
Lucas76823
Worth7368
Taylor65612
Fremont6229
Decatur6069
Van Buren55718
Ringgold55524
Wayne53223
Audubon50610
Adams3384
Rochester
Clear
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Mason City
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Hi: 61° Lo: 40°
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Albert Lea
Partly Cloudy
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Hi: 59° Lo: 39°
Feels Like: 46°
Austin
Partly Cloudy
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Hi: 58° Lo: 39°
Feels Like: 48°
Charles City
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