Facebook to testify and UBER goes two wheels | Calamatta Cuschieri

European stock markets finished the Monday trading session on a mixed note as investors keep a close eye on a possible trade war between the United States and China

Mark Zuckerberg apologized for the data harvesting scandal involving Cambridge Analytica
Mark Zuckerberg apologized for the data harvesting scandal involving Cambridge Analytica

European stock markets finished the Monday trading session on a mixed note as investors keep a close eye on a possible trade war between the United States and China following a series of punitive trade measures imposed between the two largest economies in the world. Despite considering additional $100 billion worth of tariffs on Chinese goods, Trump expressed his belief over the weekend that the ongoing trade dispute with China will be resolved through negotiations. "Taxes will become Reciprocal and deal will be made on Intellectual Property," Trump tweeted yesterday.

The FTSE 100 finished the session 0.15% higher, with Associated British Foods the best performer. The DAX gained 0.17% at the closing bell, with Deutsche Boerse leading the gains. Meanwhile, the main French index CAC 40 lost 0.14% to end the trading day in the red, weighed down by Renault.

Mark Zuckerberg preparing for testimony

Mark Zuckerberg, founder and chief executive of Facebook Inc., said the company is "idealistic and optimistic." In a prepared statement released on Monday for his testimony in the United States Congress, he apologized for the data harvesting scandal involving Cambridge Analytica. "It was my mistake, and I'm sorry. I started Facebook, I run it, and I'm responsible for what happens here," the head of the technology giant wrote.

"We were too slow to spot and respond to Russian interference, and we're working hard to get better. Our sophistication in handling these threats is growing and improving quickly," he said ahead of his two-day testimony.

Mark Zuckerberg in his opening remarks, will include a pledge to never let advertisers or developers "take priority over" his firm's mission to connect people.

UBER goes two wheels

Ryan Rzepecki, chief executive of JUMP Bikes, will join Uber Technologies Inc.'s platform in an acquisition to exceed $100 million. The start-up, founded almost ten years ago as Social Bicycles, was recently backed by Menlo Ventures and Sinewave Ventures in a $10 million investment. It offers dock less use of e-bikes in San Francisco and Washington DC, meaning there are no posts but customers can locate a two-wheeler via a mobile application.

The two companies have already worked under a partnership agreement. JUMP has earlier revealed plans to expand to Sacramento and Providence, Rhode Island. Through its software and hardware offerings, it operates via third-parties, like cities, campuses and corporations, in 40 markets including Portland, New Orleans and Atlanta.

Disclaimer:

This article was issued by Rodrick Duca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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