Good morning! Here's what you need to know in markets on Monday.
1. A data analysis firm linked to President Donald Trump's campaign used the personal information of 50 million people on Facebook without authorization to target them with personalized political advertisements, The Guardian reported Saturday. The report came just one day after Facebook suspended the firm, Cambridge Analytica, from buying ads or managing pages on the social media platform after discovering rules violations.
2. One of Europe’s largest owners of shopping centres has made a £5 billion takeover approach for Hammerson in a move that threatens to derail the British property company’s proposed merger with Intu, The Times reports. Klépierre, which owns more than 100 shopping centres across the Continent, contacted Hammerson a fortnight ago about a proposed takeover but was rebuffed almost immediately.
3. Asian share markets slipped into the red on Monday as caution gripped investors in a week in which the Federal Reserve is likely to hike US interest rates and perhaps signal as many as three more for the rest of the year. Japan's Nikkei share index closed down 1.04%, but the Hong Kong Hang Seng index is up 0.23% at the time of writing (6.35 a.m. GMT/2.45 a.m. ET) and China's Shanghai Composite is up 0.19%.
4. Russian President Vladimir Putin won a landslide re-election victory on Sunday, extending his rule over the world's largest country for another six years at a time when his ties with the West are on a hostile trajectory. Putin's thumping victory will extend his total time in office to nearly a quarter of a century, until 2024, by which time he will be 71.
5. YouTube's app specifically for children is meant to filter out adult content and provide a "world of learning and fun," but Business Insider found conspiracy theory videos on YouTube Kids. YouTube removed at least 25 videos from its Kids app after we contacted the company, including videos claiming that the world is flat, that the moon landing was faked, and that the planet is ruled by reptile-human hybrids.
6. Apple is developing its own MicroLED device displays and has made small numbers of the screens for testing, Bloomberg reported on Sunday. The iPhone maker is developing next-generation MicroLED screens at a secret plant in California and has made a huge investment for this, according to the report.
7. The cofounder of a credit checking startup sold to Experian last week for £275 million wants more entrepreneurs to follow his method. The company was created 3 years ago by London venture builder Blenheim Chalcot and cofounded by Dan Cobley, the former UK MD of Google. Cobley told BI the sale is a "validation" of the model.
8. Sources inside Apple's Asian manufacturing supply chain paint a gloomy picture of iPhone X sales. A period of flat or declining sales is likely to continue for much of the rest of the year, they told Longbow Research analysts Shawn Harrison and Gausia Chowdhury.
9. Alibaba said it will invest an additional $2 billion (£1.4 billion) in Southeast Asian e-commerce firm Lazada Group and replace its chief executive, consolidating its control over the firm as it targets an aggressive expansion in the region. Long-time Alibaba executive Lucy Peng will take over as Lazada's chief executive, replacing founder Max Bittner who will become a senior advisor to Alibaba.
10. Shares of Hyundai Motor slid on Monday after a US regulator said it had opened a probe into why some airbags failed to deploy in Hyundai and Kia vehicles following crashes that reportedly killed four people and left six injured. This is the second investigation by the US National Highway Traffic Safety Administration into the South Korean duo in less than a year and comes as the automakers grapple with weak sales in the United States.
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