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: 485655

Reported Deaths: 6558
CountyCasesDeaths
Hennepin1007641586
Ramsey43106801
Dakota36297390
Anoka33293385
Washington22078256
Stearns18734201
St. Louis14805262
Scott13290107
Wright12526115
Olmsted1178988
Sherburne872872
Carver772640
Clay691587
Rice670491
Blue Earth594735
Kandiyohi579574
Crow Wing520681
Chisago499045
Otter Tail482170
Benton446490
Winona418349
Mower404731
Douglas392668
Nobles387047
Goodhue385768
Polk343162
McLeod339349
Beltrami337951
Morrison324547
Itasca313046
Lyon313044
Becker311342
Isanti306154
Steele300411
Carlton300149
Pine282016
Freeborn280723
Nicollet258641
Todd248030
Brown245037
Le Sueur235320
Mille Lacs227447
Cass220024
Waseca208717
Meeker207434
Martin189528
Wabasha18653
Roseau180217
Hubbard160640
Houston157314
Dodge15224
Renville149640
Redwood147027
Fillmore13728
Chippewa136335
Cottonwood134820
Pennington134416
Wadena130920
Faribault123017
Aitkin118833
Sibley117310
Watonwan11738
Rock115714
Kanabec107519
Pipestone101424
Yellow Medicine97617
Murray9448
Jackson93510
Swift87918
Pope8045
Marshall77815
Stevens7418
Lake74018
Clearwater71914
Lac qui Parle68416
Wilkin67110
Koochiching61811
Big Stone5163
Lincoln5062
Grant4918
Norman4788
Unassigned46768
Mahnomen4417
Kittson40921
Red Lake3625
Traverse3055
Lake of the Woods2191
Cook1180

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 362827

Reported Deaths: 5440
CountyCasesDeaths
Polk58260551
Linn20670313
Scott18318210
Black Hawk16258292
Woodbury14979211
Johnson1384874
Dubuque13562194
Dallas1138690
Pottawattamie10791143
Story1024945
Warren556674
Clinton543784
Cerro Gordo533782
Webster519587
Marshall497272
Sioux494869
Buena Vista474537
Des Moines458861
Muscatine452291
Wapello4345108
Jasper417766
Plymouth395378
Lee375452
Marion359169
Jones294154
Henry293337
Carroll286249
Bremer280854
Crawford275135
Boone259730
Washington254347
Benton253854
Mahaska224746
Jackson221638
Dickinson217840
Tama213765
Kossuth208555
Clay193625
Hamilton192142
Delaware189140
Winneshiek189127
Buchanan185729
Fayette185235
Page183319
Hardin181439
Wright179931
Harrison179469
Cedar178523
Clayton168154
Butler167231
Mills163020
Floyd162741
Cherokee154836
Madison154718
Poweshiek154330
Hancock147130
Allamakee146747
Lyon145941
Iowa145023
Appanoose139247
Grundy139230
Jefferson138734
Winnebago138631
Cass134751
Calhoun133811
Mitchell130940
Louisa128241
Union126631
Chickasaw125215
Sac124618
Emmet121740
Shelby121733
Franklin118319
Humboldt117925
Guthrie116628
Palo Alto105221
Montgomery104136
Howard102921
Clarke100420
Unassigned9900
Keokuk98229
Monroe93328
Adair92128
Ida91432
Pocahontas85419
Davis83123
Monona81627
Greene77510
Lucas74021
Osceola70615
Worth6997
Taylor66612
Fremont5909
Decatur5829
Van Buren56118
Ringgold52320
Wayne48921
Audubon4889
Adams3274
Rochester/St. Mary'S
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Austin
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Feels Like: 43°
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