Facebook's shares are dropping on Cambridge Analytica allegations

Mark Zuckerberg

Bloomberg has the details on Facebook's response to the controversy. But Facebook users who downloaded the app also gave the professor permission to collect data on their location, their friends and content they had "liked". That kind of access was allowed per Facebook's rules at the time.

Facebook acknowledged the flap surrounding Cambridge Analytica, but the company is attempting to make it clear that this wasn't anything resembling a data breach.

Wylie claimed Cambridge Analytica used the data it had while speaking with Russian businesses.

Asked about the reports, Theresa May's spokesman said: "The allegations are clearly very concerning".

In an interview Monday on NBC's "Today", Wylie said Cambridge Analytica aimed to "explore mental vulnerabilities of people".

The company has surfaced in the US probes into Russian interference in the 2016 presidential election.

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"Changes to their business model around advertising and news feeds/content could be in store over the next 12 to 18 months", Ives wrote in a note to investors.

Zuckerberg now has a whole new set of questions to address: Was Facebook transparent enough with users about how their information would be used?

But Trump's campaign on Saturday denied using the firm's data, saying it relied on the Republican National Committee for its information.

There could be major implications for the company's business model, which is based on selling user data to app developers and advertisers.

Facebook Inc (NASDAQ:FB) is brushing back against claims that it should be held responsible for a data-analysis firm's violation of rules in regards to user data.

Britain's Information Commissioner's Office (ICO) said over the weekend that it would be considering the potential new evidence as part its separate civil and criminal probe into whether Facebook user data had been abused in British elections.

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However, the snow would have to fall hard during this time to really accumulate and that doesn't look too likely at this time. The American, or GFS model, is also in agreement with this track, but with slightly less precipitation.

It also blocked University of Cambridge psychology professor Aleksandr Kogan, the academic who created the app in question. When did they know it? Damian Collins, a British lawmaker, said Sunday that Zuckerberg or another senior executive should appear in front of his committee because previous witnesses have avoided hard questions, creating "a false reassurance that Facebook's stated policies are always robust and effectively policed".

Amy Klobuchar, a Democrat who serves on the Senate Judiciary Committee, said on Saturday that "Zuckerberg needs to testify".

His remarks came after the Republican majority on the House intelligence committee revealed their investigation into Russia's interference in the 2016 USA general election found there was no collusion with Trump's campaign.

The revelations are likely to fuel calls for more regulation of tech companies.

Facebook has promised to conduct a "comprehensive internal and external review".

Facebook said it found out what had happened in 2015 and was told all parties involved had deleted the data.

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