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A breach at Delta may have exposed the payment information of hundreds of thousands of customers. And a cyberattack that crippled at least four U.S. gas pipelines is now hitting the utility industry. Investors worried about Facebook's data security, however, might not need to worry—some on Wall Street think the worst is over for its stock. —Katie Robertson
Sheryl Sandberg says “a few” Facebook advertisers have paused spending. Facebook’s Chief Operating Officer told Bloomberg that some advertisers were waiting for the company to answer questions on user privacy before they resume spending, and that Facebook is drawing stricter boundaries around its work with certain advertisers and political campaigns. The company makes almost all its revenue and profit from advertising.
No trader is safe. Wall Street’s big banks are in an all-out technological arms race to control the $58 billion-a-year equities industry. And the twin forces that have always shaped markets, technology and regulation, are about to wreak havoc once more.
Bill Ackman is seeing an investor exodus over dismal returns. About two-thirds of the capital investors could withdraw from Pershing Square's private funds was redeemed at the end of last year. JPMorgan no longer recommends the funds, and Blackstone has been pulling its money.
The crypto selloff could ease after tax day, according to crypto bull Tom Lee. He says the rout that saw Bitcoin drop more than 40 percent in the past month has been driven by investors selling some of their wins to pay $25 billion in capital-gains levies.
Trump says he backs his embattled EPA chief. The president said Thursday he still had confidence in Scott Pruitt, who has been the subject of a cascade of ethics questions in recent days. A new memo obtained by Bloomberg seems to contradict Pruitt’s claim that a government review last week cleared him of ethical issues tied to a $50-a-night condo rental.
Feeding Fido fake meat could save the planet. Pet food represents as much as 30 percent of all meat consumption in America. A startup wants to transform the industry with vegan kibble straight from the lab to address the millions of tons of greenhouse gases that pets release.
How one man got rich selling machine guns. Frank Goepfert has built a lucrative business dealing in the rarest and deadliest of firearms. The red tape that makes machine guns so difficult to buy has also helped them become the ultimate collector’s item, with some having doubled in value over the past decade.
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