By Emily Glazer The Wall Street Journal Deepa Seetharaman AnnaMaria Andriotis Tues., Aug. 7, 2018 Facebook Inc. wants your financial data. The social-media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users. Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. The company over the past year asked JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and U.S. Bancorp to discuss potential offerings it could host for bank customers on Facebook Messenger, said people familiar with the matter. Facebook has talked about a feature that would show its users their checking-account balances, the people said. It has also pitched fraud alerts, some of the people said. Data privacy is a sticking point in the banks’ conversations … [Read more...] about Facebook to banks: Give us your data, we’ll give you our users
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Captain Tammie Jo Shults, one of the first women fighter pilots in the US Navy, was hailed as an American hero Wednesday for calmly landing a stricken passenger jet after a midair engine explosion that killed a mother-of-two. Shults was identified as the pilot by passengers on Southwest Airlines Flight 1380, which was en route from New York to Dallas when its left engine suddenly blew apart, shrapnel shattering a window and partially sucking one woman out of the plane. An audio recording revealed a calm, unflappable Shults requesting medical assistance and telling air traffic control part of the aircraft was missing as she guided the jet and the 149 people on board into an emergency landing. "This is a true American Hero," wrote passenger Diana McBride Self on Facebook, posting a picture of Shults in the aisle of the Boeing 737-700, greeting passengers as they filed out of the plane in Philadelphia on Tuesday. "A huge thank you for her knowledge, guidance and bravery in a traumatic … [Read more...] about Pilot hailed as ‘American hero’ for landing stricken jet
President Donald Trump tweeted on Thursday that Amazon is “putting many thousands of retailers out of business.” Amazon‘s aggressive expansion into new industries has terrified competitors. Here are eight industries threatened by Amazon’s growth, from shoe stores to healthcare businesses. President Donald Trump seems determined to take down Amazon as the e-commerce juggernaut expands its reach. “Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!” Trump tweeted on Thursday morning. I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and … [Read more...] about Trump says Amazon is ‘putting many thousands of retailers out of business’ — here are 8 industries hit hardest by the e-commerce giant’s domination
By Sharon Cohen The Associated Press Matt Sedensky Sat., March 24, 2018 CHICAGO—It’s a scandal of privacy, politics and an essential ingredient of business success — public trust. Facebook is confronting a costly, embarrassing public relations debacle after revelations that Cambridge Analytica may have misused data from some 50 million users to try to influence elections. Among its marquee clients: U.S. President Donald Trump’s general election campaign. Now a company known as much for reminders of a long-lost friend’s birthday and documentation of acquaintances’ every whim is grappling with outrage — and the possible loss of confidence — from users around the globe that have made the social media site a part of their daily routine. “I trust somebody until they give me a reason not to trust them,” said Joseph Holt, who teaches business ethics at the University of Notre Dame. “And Facebook has … [Read more...] about Can Facebook restore public trust after Cambridge Analytica privacy scandal?
President Donald Trump on Thursday suggested school security should be akin to that of banks. Trump has proposed arming teachers and other professionals at schools as a way to prevent mass shootings. That’s not how bank security works. At the White House on Thursday, President Trump made this analogy between schools and banks: “You can’t hire enough security guards. You need 100, 150 security guards. But you could have concealed on the teachers. I want my schools protected just like I want my banks protected.” Well, how are banks protected? Not by arming the bank tellers. While Trump has conjured an image of armed teachers heroically stopping mass shooters with their own guns, that’s not how banks work at all. When I worked at Wells Fargo, I had to go through the online bank branch security training like all other employees. The instruction, in the event of a robbery, is to hand over the … [Read more...] about Trump just made a nonsensical analogy between school and bank security