Facebook stock at all-time high despite data breaches
San Francisco, July 7 : Despite the massive Cambridge Analytica data scandal and a couple of users' privacy issues owing to internal bugs, Facebook stock closed at an all-time record high of $203.23 on Friday.
Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 when it was under an intense probe over data breach from the US and European governments, Fortune reported.
Investors are also happy at the news that Facebook has grabbed its biggest sports streaming deal yet with the Premier League.
The Times reported that Facebook has won exclusive rights to show all 380 live matches in parts of Asia -- Thailand, Vietnam, Cambodia and Laos -- from 2019 until 2022, in a deal worth about $264 million.
Since going public in 2012, Facebook has seen its stock rise more than 400 per cent.
In the latest privacy goof-up, Facebook admitted that over 800,000 users were affected by a bug on its platform and Messenger that unblocked some people the users had blocked.
The bug was active between May 29 and June 5 -- and while someone who was unblocked could not see content shared with friends, they could have seen things posted to a wider audience, said Facebook.
Facebook has already been grappling with privacy issues like the Cambridge Analytica data scandal involving 87 million users and another bug that changed 14 million users' privacy setting defaults to public.
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PM Modi attends opening ceremony of Arabian Gulf Cup in Kuwait
Kuwait City (PTI): Prime Minister Narendra Modi on Saturday attended the opening ceremony of the 26th Arabian Gulf Cup as the chief guest at the Jaber Al-Ahmad International Stadium here, on his two-day visit to the Gulf nation, the first for any Indian prime minister in 43 years.
Modi is visiting Kuwait at the invitation of Kuwaiti Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.
The prime minister joined the Emir, the Crown Prince, and the Prime Minister of Kuwait in witnessing the grand opening ceremony.
The event also provided an opportunity for an informal interaction of the prime minister with the leadership of Kuwait, the Ministry of External Affairs said in a press release.
Kuwait was scheduled to play Oman in the opening game of the eight-team tournament.
Kuwait is hosting the biennial Arabian Gulf Cup with participation from eight countries, including GCC nations, Iraq, and Yemen.
The tournament is one of the most prominent sporting events in the region. Kuwait has won the tournament maximum times among the participating countries.
Earlier, addressing a large gathering of the Indian community at a special event ‘Hala Modi’ at the Sheikh Saad Al-Abdullah Indoor Sports Complex in the city, Modi praised the diaspora's contribution to global growth and said that India has the potential to become the “skill capital of the world”.
“Every year, hundreds of Indians come to Kuwait. You have added an Indian touch to Kuwaiti society. You have filled the canvas of Kuwait with the colors of Indian skills. You have mixed the essence of India's talent, technology, and tradition in Kuwait,” Modi said.
The prime minister expressed happiness about the presence of Indians from diverse corners of the country in the gulf nation and called it a “mini-Hindustan.”
Modi is set to meet the Emir, the Crown Prince, and the Prime Minister of Kuwait on Sunday.
