could u.s. authorities throw the book at facebook america's consumer watchdog has launched an investigation into a recent data leak we'll get some advice for the social network from a silicon valley consultant spanish police say they've caught a so-called criminal mastermind to sticky fingers almost a billion dollars from bank accounts across the globe. and a century of rupee notes now the indian government is celebrating this by launching a new single rupee banknote but here's the catch they're worth next to nothing. and daniel winter and this is your business update the u.s. federal trade commission is investigating facebook's the consumer watchdog is trying to determine whether the company's privacy practices cause substantial injury to uses facebook stock plunged to further depths on the news following last week's to climb the social media company has been under pressure following a series of privacy scandals including accusations of data misused by consulting

group cambridge analytics affecting fifty million facebook users in the u.s. . entrepreneur and sort of mentor joins us now from washington county facebook has done nothing wrong here i mean what on earth did we think facebook was doing with our data if not sharing it with third parties to target us. i am pretty sure that most people were not thinking. that they're actually actively sharing their data they were intrigued to play funny games or two polls on facebook and really engaged there's also peer pressure so you at facebook you can always see that many of your friends have already participated so it's really easy to forget that you're actually actively sharing your data at all times when you upload things or when you click on things that facebook right and i was digging in

the s.t.c. findings from facebook and apparently who was quite a bit to them each of us facebook users was worth twenty dollars to the company last year now the storm clouds of regulation a gathering what could they do to please the likes of the f.t.c. in the e.u. . i think they have to address this. with a very serious tone and they have to focus all of their attention on this right now . i think they have really underestimated this huge backlash that we're having right now now that people are starting to understand and they're actually going into their privacy settings and they're shocked how many contacts and how much data was actually shared facebook really really has to apologize really find the right tone is aimed at the problem is for them that as a small amount of users start to drift away people can't find their friends on

facebook anymore than the house of cards collapses the very network effect the built them up could see them end up like my space what are the risks of that right now facebook. at this point i don't see a huge risk of that because facebook has been so entrenched in our daily lives that everything that we do that probably the users that will leave facebook they will probably miss it more than the users that still stay with facebook will actually miss those who have left because you will not be able to walk into other websites you will not be able to maybe remember your friend's birthdays you will not be able to. organize events or be be invited to an event like a baby shower or birthday party so actually there are so many other tools than just the pure sharing that facebook has offered to make everyone's life easier so i expect the headache to be first for the people who are leaving now or looks like

facebook could use some friends of their own right now thank you very much for the . spanish authorities are loading the arrest of an alleged international criminal hakka his gang is accused of using some of the most sophisticated technology to rob rob hundreds of bank accounts around the world. it's a major breakthrough for the police in spain after a three year investigation they have arrested the suspected mastermind of an international criminal gang. it stole as much as one billion euros according to spain's interior ministry the group allegedly operated in some forty countries using technology to change account balances and instructed cash machines to issue the money. so. just to give you an example of how important the detention is in twenty thirteen this group managed to access

practically every bank in russia the benefits gained in cyber attack were about one million dollars on average. in. their media many banks and authorities in several countries worked together to snare the gang leader so the arrest is being celebrated around the world. tax cuts and increased government spending could accelerate economic growth in the u.s. over the next two years now that's according to a new survey projecting two point nine percent growth this year outpacing the last three since the national association for business economics last issued its forecasts donald trump has pushed a one and a half trillion dollar tax cut through congress the us president insists this will keep growth above three percent a year and the quarter is almost a force how realistic all these growth projections. well it's possible but are increasing every single month so that could be

a denver or grows in the united states and then also we have to wait and see how the whole trade talks especially with china turn out to well there were some comments from china that they're willing to talk but that doesn't necessarily mean that those trading talks or trade talks will also be successful one thing is for certain when texas especially for corporations are falling and that is good news for the balance sheets of corporations but it also doesn't mean that those corporations will spend much more it's all of the bottom line is for the moment lower taxes are good news for corporations good news for profits and good news for wall street but that doesn't that doesn't necessarily mean that we also will see a huge economic growth in the next couple of months and years here in the u.s. so there is still some skepticism even if wall street recovered quite a bit here on monday after this deep losses that we saw especially last week

thursday and friday in skoda thank you very much after two hundred years one of the oldest gun manufacturers in the united states is running out of ammunition in unspent came after a weekend in which millions marched in the u.s. calling for tighter gun controls remington outdoors has filed for bankruptcy protection saying it's up to five hundred million dollars in debt the company counts the bushmaster a r fifteen rifle long it's products that's the weapon that was involved in the sandy hook school shooting in twenty twelve that killed twenty children investors wanted to jump ship after that but parent company said that ups failed to find a buyer remington will continue to operate under chapter eleven bankruptcy protection but pressure on the weapons industry as a whole is growing and begun protests over the weekend and companies restricting gun sales could just be the start. now you can't get much for one

rupee but that hasn't stopped india's government from issuing brand new single rupee notes to commemorate the paper monies one hundredth birthday now they may be practically useless but the collector's items can get you something money can't always buy a trip down memory lane. a brand new one rupee bank note i've never seen anything like this during my entire time in india it looks real and even comes with a watermark quite elaborate given the fact that it equals just one euro cent let's see what it buys. what it. was before you know if you need something like that for if it was sitting in my chair. that says what you will see i think they can give you lots of water. would you accept it. i couldn't even see if it. would work or would you

could meet with was more yeah but what would you give me for we saw from washington thank you welcome it was a free sample is all i get from my brand new one rupee would. normally indians tend to be very proud of their currency the rupee in old delhi you can even buy garlands made of banknotes wedding gifts even the old one rupee note gets on it here but only for display there's not been a single printed for the last twenty years. until this new series. but even though the recently introduced new bills are more colorful than the old ones the garland makers on happy with them. did have an idea of a look at the old founder during the british colonial era is responsible for issuing the country's new cash it wouldn't comment on the new one rupee note though something that has a surprising explanation. currency collects

a capital copter sheds light on the mystery technically the new one rupee note counts as a coin so it's used by the government and not the central bank and the only reason for the new singles is the one hundredth anniversary of rupee banknotes by niggas that they see even if you can't buy anything for it for us collectors the joy that there is a new one rupee note is beyond words. and it might pay to hold on to the new single the very first rupee note from one thousand nine hundred seventeen with a portrait of britain's king george the fifth sells for up to three hundred euros nowadays. to cash out that's it for your business updates i'll be back with mall tomorrow same time same place.

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