Facebook apologizes for data scandal in UK newspaper ads

The week Facebook's value plunged $58bn

Facebook says that it doesn't sell all this information to third parties, but that's not particularly reassuring.

A new case was filed in the Circuit Court of Cook County last week and outlines allegations similar to those laid out in six other lawsuits filed against Facebook in a federal court.

Facebook has prospered on digital advertising that benefits from being able to use what people share about themselves to target ads. The company first introduced this feature on Messenger in 2015, and later on Facebook Lite app as well. While scanning the information Facebook had stored about his contacts, Dylan McKay discovered something distressing: Facebook also had about two years worth of phone call metadata from his Android phone, including names, phone numbers, and the length of each call made or received. Asked what kind of influence Facebook has had on Canadian politics and government, only 10 per cent of respondents said the social-media platform had a positive effect, compared with 32 per cent who said it was negative.

"Contact uploading is optional".

Facebook has since changed the amount of data developers can gather in this way, but a whistleblower, Christopher Wylie, says the data of about 50 million people was harvested for Cambridge Analytica before the rules on user consent were tightened up.

The news has wiped-off nearly $50 billion from Facebook's market value as investors fear the dealings with Cambridge Analytica could permanently damage the social network's reputation, deter advertisers and invite tougher regulation.

Both Cambridge Analytica and the academic who made the controversial app have denied wrongdoing. It appears that iOS users are not impacted by this problem on the Facebook app.

"I didn't use it for much more than scrolling through videos to pass the time when I was bored".

Mr Zuckerberg has until today to tell MPs if he will give evidence to them about Facebook's links to Cambridge Analytica.

It's believed around 50 million people were affected by the breach.

"But I think this was clearly a mistake in retrospect".

Last week, the embattled analytics company suspended its CEO, Alexander Nix, in the wake of a UK Channel 4 report showing undercover footage of Nix claiming he met Trump "many times" and that the company was responsible for a wide swath of the Trump campaign's activity. "We're now taking steps to make sure this doesn't happen again", the tech chief said.

He told CNN the site would be reviewing thousands of apps in an "intensive process".

The company's response to the Ars Technica story, however, struck a different tone, with Facebook titling the post "Fact Check: Your Call and SMS History". The company, which created the Firefox web browser, said it was "pressing pause" on its Facebook advertising and won't be posting to its Facebook page.