whistleblower reveals another data misuse that facebook millions of user profiles were used to help donald trump become president of the united states. and with a looming trade war you ministers go to washington to negotiate exemptions from tariffs the trump administration has threatened to impose we'll tell you what they're after. it's time for business on the w. i'm here to get us welcome to the program we start with more bad news for facebook users a whistleblower has revealed a british company called cambridge analytic and you stayed out of about fifty million facebook accounts to support donald trump's presidential campaign in two of the sixteen c.e.o. mark zuckerberg is now facing some serious questions facebook's mark zuckerberg enjoys the limelight at least when the news is good but as far as the latest data scandal is concerned he's keeping a low profile. more than two years ago his company discovered that cambridge

analytic was using data taken from fifty million facebook users yet the company failed to inform those affected cambridge analytical it was simply told to delete the data which according to media reports never happened instead facebook has opted to delete the accounts of those who brought the scandal to light. people like chris wiley former research director at cambridge analytics he described the investigative team at u.k.'s channel four how the company worked a magic when i go and ask you i say hey if i give you a dollar two dollars could you fill out the survey for me just do it on this app and you say fine i don't just capture what your responses are i capture all of the information about you from facebook but also this app can crawl through your social network and captures all of that data also so by you filling out my survey i capture three hundred records. the user's facebook friends were spied on without

their consent their likes their gender their sexual orientation and political leanings everything was gathered on twitter facebook executive andrew barr's worth denied initial claims of a data leak saying no passwords or information were stolen or hacked. on friday facebook announced that it had suspended cambridge analytical but that's not enough for politicians in britain and the u.s. they now want to tackle the issue and confront those responsible from facebook. facebook of course as a big company will see some of the actions at their stock price let's now bring in our financial correspondent at the new york stock exchange and scotty ends needless to say this is bad news for facebook you know and there could be some legal challenges those are actually quite likely what i'm hearing over here is that actually the european union could be a bit tougher on facebook then u.s.

regulators and then overall if you look what happened in the past not just with pace but by the also other tech companies usually those fees all fines that we eventually saw were not really threatening to the business model and then companies paid and then pretty much still played along as they did before so from the legal side we really have to wait and see if this really is going to have huge implications on facebook now how has the stock of the company behaved during the trading session today because we're seeing some effects on other tech companies as well. we've seen implications on other tech companies and if you look at the business side of facebook well it pretty much relies on and if trust is going to be damaged by this affair that could have implications also facebook and some other social media companies might have to invest more to report checked the feeds

and the information of their customers and their reaction on wall street was pretty intense the stock closed almost seventy percent seven percent in a value a good thirty five billion dollars in market value got lost that was the first day for the the worst they've all the facebook stock in about four years thank you very much it's called to in new york on to the other topic that's keeping investors busy the new tariffs on steel and aluminum announced by the u.s. are just around the corner germany's economy minister is currently in washington for talks to seek exemption it's a race against time as the tariffs will enter into force this friday. he's only just arrived in office but the newly minted german economy minister is already faced with a difficult mission. must avoid a trade war with the united states. there's a lot of stake here jobs in germany and europe the trade relationship with the united states as well as the trade architecture of the whole world should take two

or. the new tariffs come into force on friday and in some ways the german and european steel industries could simply sit back and relax after all steel and aluminum make up only a very small proportion of european exports to the us and yet the e.u. will be the trading partner to be hit hardest by the new taxes. the e.u. as a whole all twenty eight countries would have six point five billion dollars worth of steel and aluminum exports affected by the new tariffs it's followed by china with an export volume of around three billion dollars germany would pay taxes on a total of one point seven billion dollars worth of such exports each year making it the country most affected from within the e.u. some experts warn that the new tariffs might herald the beginning of a cascade of others which will spread across further sectors and countries the european steel industry fears that europe may soon be flooded with cheap steel

imports it being an alternative cheaper dumping ground. now our correspondent alexander phenomenon is in washington following the statements by the german economy minister hi it's good to see you alexandra now as you saw the minister how optimistic was he is there a real possibility to avoid these tariffs. well i asked peter over here is confident that a solution can be found before the chair of are going to be imposed on friday and he really does it's just saying that he cannot speculate on that because it is such an important matter but then he added that he is a little bit more optimistic that he was before after meeting his counterpart here you asked secretary of commerce ross and other members could be tough conditions

attached to that conditions such as caps on imported steel exports and an increase in defense spending but we have to say that we have to wait because there is a lot of diplomatic activity here so let's take a look at the bigger picture here because we know one thing for sure and it is that donald trump wants tariffs in general now what does the e.u. in this case want specifically is this about just avoiding these specific tariffs on steel and aluminum or talking the us out of terrors all together i think that the europeans repeated threats to slap the tariff on imported cars and that could really harm the economy in the european union and particularly of course in germany it's one of the top car exporting nations worldwide it's you were talking about what comes next alexandra and now let's take

a look at the scenario if donald trump doesn't give in could we see more tariffs also imposed by the e.u. . well the european union was quite quick to say that it is going to fight back there was even a list published a list of you as product products that could be potentially targeted by the european union but we have to say that the european union is not interested in escalating this dispute and germany wants the european commission commission to tread cautiously i was on a phenomena following the story for us in washington thank you very much. and of course we'll keep you up to date throughout the week now i don't need to tell you technology is getting closer and closer to our bodies now a startup is trying to take it to the next level after innocent watches and fitness bands now there's a new fabric that can generate its all no atrocity and it could soon be part of our

everyday lives. at london's wearable technology show reading based comair a sport is demonstrating its energy generating textiles it uses the piezoelectric effect that allows certain materials to generate an electric charge through movement so what we have here is a mechanical new reg with the taxol over here that's that's actually harvesting the energy as it maybe whole sesame is moving and this fabric is affected you can see here the voltage spikes that occur as that you get that maximum the flexion and this is usable energy that can be extracted out here at the specially charged wearable devices as yet it generates just a small amount of energy not nearly enough to charge a smart phone for instance but it could be used to power a simple in clothing senses or perhaps an emergency beacon to alert rescue workers . munich based wearable tech company pro glove is here to demonstrating the

logistics device a smart glove that allows workers to quickly scan goods and products senses in the glove can give rapid feedback to users automotive workers at b.m.w. skoda and audi are already using the device. more than three hundred million wearable devices were sold worldwide in twenty seventeen that's an almost seventeen percent increase from the year before experts say the sector is just getting started. that's all for business thank you very much for joining us we'll see you next time or on the web. by. the.

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shift living in the digital age. today online hate speech. high tech paper airplanes and the french answer to time lapse videos but first escaping reality the our headsets let gamers dive into a whole new worlds. it might be fun but it could also be dangerous because virtual reality affects our psyche.