Abu Dhabi, UAESaturday 8 August 2020

Business Extra: Facebook’s record fine divides opinion but is it a sign of things to come?

A $5 billion penalty over failures related the Cambridge Analytica scandal has been called nothing more than a ‘slap on the wrist’

Mustafa Alrawi, Assistant Editor in Chief and Assistant Business Editors, Chris Nelson and Kelsey Warner, explore what the consequences could be for the global technology sector after US regulators endorsed a $5 billion (Dh18.3bn) privacy settlement with Facebook to resolve the Cambridge Analytica data scandal.

Also, they discuss the latest economic data out of China which indicates growth has slowed to the weakest pace since 1992 amid the ongoing trade standoff with America.

And what of investor confidence for frontier markets after the World Bank hit Pakistan, South Asia’s second largest economy, with $6 billion in damages for refusing to honour a mining lease to an international conglomerate.

In this episode

- Headlines (0 minutes 40 seconds)

- Facebook (1m 30s)

- China's economy (17m 58s)

- Investors confidence in Pakistan (21m 48s)

Updated: July 17, 2019 07:43 PM



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