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The data firm that misused Facebook user data and had ties to President Donald Trump's 2016 election campaign is closing.The SCL Group, a British affiliate of Cambridge Analytica, will also shut down, the Wall Street Journal reports.WSJ says "a person familiar with the matter" said the company is losing clients and has mounting legal fees as a result of the Facebook issue.Cambridge Analytica issued a news release on Wednesday announcing it is ceasing operations in the U.K. and U.S."Parallel bankruptcy proceedings will soon be commenced on behalf of Cambridge Analytica LLC and the certain of the Company's U.S. affiliates in the United States Bankruptcy Court for the Southern District of New York," the release states.In his keynote address at the F8 summit on Tuesday, Facebook CEO Mark Zuckerberg addressed ongoing data privacy scandals, including election meddling issues and fake news problems. He said the company must keep a sense of optimism as it tackles the issues.Facebook announced it will soon launch a new privacy feature that will allow users to clear their browsing history of Facebook, including what websites they have visited and what they click on. 1212
The Federal Trade Commission (FTC) is cracking down on glasses and contact prescribers who may try to stop you from shopping around.The FTC sent warning letters to almost 30 different eyeglass prescribers. The letters say the prescriber must give a copy of the prescription to the patient without them asking.They can't charge a special fee for doing that and they can’t force you to buy from them just because they did the examination.“However, there were a lot of prescribers that just weren't doing that,” said Linda Sherry, Director of National Priorities at Consumer Action. “If you asked for it, in most cases, you would get it. They also are required to post notices in the offices to say that you have a right to your prescription and a lot of prescribers we're not posting those notices.”Consumer Action is educating people on their eyeglass and contacts prescription rights. Sherry says prescriptions allow you to go online and to other eyeglass and contact sellers to shop for the best deal.Another thing she says to ask for, especially if you're shopping online, is pupil distance. It may not be on the prescription.“I had an experience where I asked for the pupil distance and was told that would be to put the pupil distance on, so I was like, ‘I've been coming here for three years and you've obviously measured my pupil distance, because I bought glasses from you. So, all you have to do is open your records and tell me my pupil distance.’ And they did do it, but there was that moment there when she said for the pupil distance measurement when I thought, ‘oh, something's very, very wrong here.’”Prescribers shouldn't be charging for that info either.If you're having trouble getting prescription information from your provider, you can contact the FTC. But remember you may also be due for a new eye exam. State laws vary but most eye prescriptions are only good for one year. 1912
The bull market turns 3,453 days old on Wednesday. It's the longest period of uninterrupted gains in American history.The remarkable run began on March 9, 2009, in the ashes of the Great Recession and the scariest financial crisis since the 1930s. The slow-but-steady economic recovery, coupled with unprecedented aid from the Federal Reserve, catapulted the Dow from around 6,500 to nearly 26,000 today. The S&P 500 has quadrupled from its 2009 low of 666. And market darlings like Netflix and Amazon have skyrocketed much further.The bull market narrowly survived countless panic attacks from crisis-scarred investors along the way. There was the downgrade of America's credit rating in 2011, the feared collapse of the euro, China's alarming economic slowdown and the dramatic crash in oil prices.Yet each scare failed to derail the steady rise of the economy and corporate profits that has underpinned Wall Street's record-breaking run. There were close calls, but the S&P 500 never dropped 20%, the trigger for a new bear market. 1050
The Centers for Disease Control and Prevention is set to shorten the recommended length of quarantine after exposure to someone positive for COVID-19, as the virus rages across the nation.According to a senior administration official, the new guidelines, which are set to be released as soon as Tuesday evening, will allow people who have come in contact with someone infected with the virus to resume normal activity after 10 days, or 7 days if they receive a negative test result.That's down from the 14 days recommended since the onset of the pandemic.According to the Associated Press, the agency adjusted its guidance in July by shortening it from 14 days to 10.The agency presented the new guidance during a White House coronavirus task force meeting on Tuesday for final approval, the AP reported. 812
The FDA has ended an emergency use authorization (EUA) order for hydroxychloroquine, saying that the agency has determined that drug is "unlikely to be effective in treating COVID-19."In the announcement, the agency said that the benefits of hydroxychloroquine and a related drug, chloroquine phosphate, "no longer outweigh the known and potential risks for the authorized use."The FDA issued the EUA for the drug in March. In April, the FDA warned that the drug should only be used in hospital settings due to the severe side effects some experienced while taking the drug.Shortly after the coronavirus arrived in the United States, President Donald Trump touted the drug as a potential treatment for the disease. He encouraged those sickened with the virus to take the drugs, saying, "what do you have to lose?"Trump said he took the drug for a few weeks in May as several White House staffers contracted the virus. In an open letter, White House physician Sean Conley said he prescribed the drugs after determining that the "potential benefit from treatment outweighed the relative risks."Earlier this month, a study showed that the drug was likely not effective in treating COVID-19. That study was published just days after a separate study — which determined that people who took the drugs died at a higher rate than those who did not take the drugs — was retracted by three of its authors. 1404