News driving the markets: Facebook in trouble, and more

 News driving the markets: Facebook in trouble, and more

News driving the markets.

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Dangerous divergence faced by world economy despite booming growth

With the world economy poised for its fastest growth in more than half a century, there are still differences as well as deficiencies which threaten to hold it back from reaching pre-pandemic heights.

Leading developed countries such as the United States and China are doing their parts, with the US leading the charge into the semi-annual virtual meeting of the International Monetary Fund while China builds on the success regarding countering Covid-19.

The outlook may have an overall improvement, but there are still prospects with dangerous divergence as vaccines are not yet available to most of the population, people are still faced with job losses well as increasing poverty around the globe, with too many countries falling behind. It could still take years for the rest of the world to join the United States as well as China in making a full recovery from the pandemic.

Facebook in trouble as new information on 2019 hack becomes known

Hackers have managed to come away with more than half a billion users in 2019 and this information was shared this past weekend at a hacker forum, resulting in the tech giant explaining what had happened, and calling on users to be vigilant regarding their privacy settings.

Following this occurrence, Facebook announced that it had blocked the opening through which hackers were able to gain access to data belonging to 530 million users. The hackers could access this information through a feature designed to help people locate friends by using contact lists. This data consisted of phone numbers, birth dates, and email addresses. It would also seem that a lot of data was current, according to various media reports. Stolen data, however, did not include passwords or financial data, according to Facebook.

The method used by the hackers, known as “scraping” is a tactic that involves using automated software to gather information which is shared publicly online. This is not the first time that leaks or use of data has occurred with the largest social network in the world, which has two billion users, and negligence from the part of Facebook has been denounced, with users urged to check their privacy settings to ensure that they control the information that is seen publicly.

Despite this leak, Facebook shares have shown steady performance in the past month, rising to 4,446 ZAR on April 6, up from 3,792 on March 8.

Liezel Thorne

Liezel is a content writer with a passion for writing about the financial industry and corresponding markets. Her favorite topics include Forex, Stocks and Indices, Cryptocurrencies, and anything relating to trading technology – news, newest and latest tips, tricks, and trends. She has done extensive reviews on brokers, trading platforms (web, desktop, and mobile), and various other concepts involved with trading. As a student of Environmental management, she has a keen interest in geography, environmentalism as well as conservation of both fauna and flora.

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