The leading social network with more than two billion users worldwide has also been facing inquiries on privacy from authorities in U.S. states and regulators around the world.
The divide between Republicans and Democrats on the matter was irked in large by the latter pushing for tougher oversight of Facebook in addition to the fine.
It remains to be seen whether or not this $5 billion hit will be enough to convince Facebook to change its ways, but given that the company's business model largely relies on user data, one probably shouldn't expect massive adjustments to occur any time soon.
Even though the fine is larger by a factor of 100 than the next-largest FTC penalty for privacy violation, it's also less than a tenth of Facebook's 2018 revenue and a fraction of its $600 billion valuation. For Facebook, though, it looks to be an easy bill to pay, given the roughly $45 billion in cash it has on hand. For context, Facebook recorded $15 billion in sales during the fiscal quarter that ended in March.
Representatives for Facebook and the FTC didn't immediately respond to requests for comment.
Outside activist groups also decried the alleged Facebook settlement.
"But I thought that was misguided", he said, adding that EPIC instead supports more wholesale limits on how Facebook handles user privacy.
Facebook also faces a lawsuit from the D.C. attorney general and other states over the privacy debacle.
US Mulling 18-Month Sanctions Relief on North Korea
The two sides are soon expected to hold their first working-level talks in five months, following up on U.S. President Donald Trump's historic June 30 meeting with Kim on the border between the two Koreas.
Both incidents raised the prospect that Facebook had violated a 2011 consent agreement with the FTC which required the social network to have a "comprehensive privacy program" and to get the "express consent" of users before sharing their data.
The $5 billion that goes into settling the inquiry may not have a tremendous influence on the company's bottom line.
Facebook stock ended Friday up almost 2% after the Journal report was released.
However, depending on the additional terms of the settlement, this could have ripple effects on Facebook's business going forward.
An interactive map on the USGS website shows several dozen people in the Vancouver area reported feeling the shaking. The quake hit the Three Lakes area of Washington which is around 50 miles north of Seattle at 2.51am.
In the past, Starbucks has done a Unicorn Frapp, as well as a Mermaid Frappucino and, last year, a Crystal Ball one . Starbucks says the summery drink has a tropical fruit flavor that will "take you to your happiest place".
As part of the restructuring, Deutsche Bank will be cutting the number of full-time positions by 18,000 to 74,000 by 2022. The bank went three straight years without turning an annual profit before recording positive earnings for 2018.
For roadways, North Kihei Road, Kuihelani Highway and Maui Veterans Highway reopened Thursday night to two-way traffic. A brush fire has prompted evacuations and diverted some flights on the Hawaii island of Maui, officials said Thursday.
Also, she needs to not think about the magnitude of what she can accomplish with a victory. "It's really not about 24 or 23 or 25. Simona Halep of Romania plays a forehand in her Ladies' Singles semi-final match against Elina Svitolina of Ukraine.
BA meanwhile is reeling from the fine it was issued on Monday (8 July) following a data breach that compromised 500,000 customers. It also states that firms must notify authorities about breaches within 72 hours after learning about them.
A group of legal experts has been finalizing the wording of the deal to be signed by both sides in the coming days. Days later internet on fixed land connections was restored, but the mobile 3G and 4G services remained cut.
The operation has the backing of President Donald Trump and is expected to be carried out in at least 10 major USA cities. U.S. authorities plan to start arresting immigrants eligible for deportation in 10 cities this weekend, U.S.
This is a fundamental principle of our Union and our constitution: this is a matter for Northern Ireland , not Parliament. If Northern Ireland's power-sharing system is restored, both amendments will become law by October 21, 2019.
In terms of anticipation, the Djokovic-Batista Agut semifinal felt like an undercard compared to the Federer-Nadal clash in store. Speaking after the match , Nadal admitted there were certain areas where Federer just outclassed him in the match .
In 2006, he served seven months in prison for violating terms of his probation for a drug-related offense. Major League Baseball suspended the right-hander for the entire 1995 season after another positive test.
400K people join Facebook group to 'storm Area 51'
"We will all meet up at the Area 51 Alien Center tourist attraction and coordinate our entry", the detail of the event reads. NTTR experienced a rare security breach in January when an unidentified male sped through a checkpoint at the entrance.
The Kansas City Star
A burglar stole the key, cash and Long's wedding ring from her room Thursday at the Ritz-Carlton hotel in Los Angeles. Like any good New Yorker, we keep a spare for our neighbors! "We got you covered", he tweeted .