julia boorstin joins us tonight with that part of the story. we've been reporting on the controversies surrounding facebook fro the lawsuits, possible regulations, what kind of costs are we talking about here, julia? >> well i think it's worth noting that t stock did hit the all-time high inall. you mention the decline since then. even year to date, bill, facebookhares lost 24% year to date and for mark zuckerberg founder and ceo of facebook that means his holding of facebook declined in value by about $20 and the additional issue of fine nas facebook may be facing.t facebook was j sued by the washington, d.c. attorney general. and forcy pri violations. and if the attorney general wins then facebook could face about $1.7 billion in fines for that issue. and thenk if faceb is found in violation of its agreement with the federal trade commission, that could be additional fines.s of dollars of >> let's talk about the reputational risk. and theit that that has had on facebook. can we measure >> well, it's hard to measure the real question will be w

but as julia boorstin reports aere is a you go big push to change thatnd close the gender gap. >> at frrn's most powerful quill women next gen conference the spotlights on the value for diversity por everin dollar sted start updated generated by women generated double the revenue that male start-ups did. according to a study. despite thet financial argum for diversity 17% of start-ups in the u.s. had a woman founder and two% of vc funding with went to female found zbleers we have a long way to go to get to parity. but we are seeing ahift in the conversation. and more people talking about, one, not only funding female founders but also thinking about who are the funders around the table? ande have more of this conversation, more emphasis on that. >> half the investments in the last fund including glosssier andaily harch were female led companies. >> it wasn't the mandate to invest in women. but she said she may have seen opportunities her male counterparts didn't. one reason such a small percent of the vc funding goes to is that 9% are women and 3/4s of u.s. firms don't have a female

and julia boorstin has more oxygen that. >> virtual reality didn't take off the way many had hoped. as consumers proved reluctant to n vest hundreds of dollars head sets. even i mocks is shutering seven uial reality centers around the world. but that's not stopping the push to make virtual reality or vr main stream. and end up in a mall near you. according t one estimate, the category expected to grow to the $12 billion within five years. dream skap is opening locations in five cities around the countr include thi in los angeles. ndr $20 visirs dawn a headset backpack and handeed centers to enter a virtual world for a to. minute experien >> we bleebl location based vr is the tip of the spear for the entire vr industry. gettg people exposed this unique medium and those of us creating it, we'reearning the capability as well. >> dream skap is backed by theater chains amc and i max. fox, warne woers and mgm. the studios aretregic partners looking to expand into new demands while theheater chains explore the virtual spoernss into lobbies ofcrineplex as they adapt to declining movie ticke

julia boorstin has the details. >> reporter: concerns about the dangerous of social media platforms spl exploded inlaarch with reons that cambridge analytica accessed the the private information of facebook users, ultimately attacking 87 million userer. sheryl sandbergti adm to the mistakes in an interview on cnbc. >> we have the responsibilityilo great products. we have the responsibility to treat people's data carefully. t have responsibility to disclose to people when problems occurred. >> sandberg's apology didn't tave off congressional scrutiny. facebook ceo mark zuckerberg wat called toestify on capitol hill in aprilid where he regulation is inevitable. >> i'm not the type of person mo thinks that all regulation i bad. so i think the internet is becoming increasingly important in people's lives. and i think we need to have a full conversation about what is ight regulation not whether it should be or shouldn't be. >> facebook came under attack for both privacy scandals and revelations of inauthentic manipulative behavior on its plafrm, pulling downf hundreds o pages tied to russia

back to you. >> thank you, julia boorstin >>> when we return, what the interim ceo of intel told me about china protecting intellectual property, the u.s. china relationship and the search for the next permanent ceo. that's all ahead after a quick break. the future of technology investing lies beyond the tech sector. it's about technology transforming every sector. ♪ at pgim, our bottom-up approach uses a technology lens to identify long-term winners. from energy... to real estate... to retail. finding such opportunities for alpha is the true value of active investing. and around the world, you have a partner in that pursuit. pgim: the global investment management businesses of prudential. the global investment management ♪ there's no place likargh!e ♪ i'm trying... ♪ yippiekiyay. ♪ mom. ♪ >>> welcome back to "squawk alley. stocks coming back in a big way, the dow only down 51 points after being off as much as 315 points earlier in the session. the s&p 500, similar story basically the flat line down just about a point the nasdaq and nasdaq 100 are both in positive territory >>

for "nightly business report" i'm julia boorstin in los angele w >>> befor go, one final look at the day on wall street. the worst christmas eve trading day ever with the dow down 653 points, below 22,000. the nasdaq and s&p are also down 2%. >>> the markets are closed tomorrow, but we'll be here with a special christmas edition. i hope you can jour us. enjoy yovening and see y. >> this is "bbc world ne america." fundg of this presentation i made possible by the freemafoundation, and kovler foundation, pursuing solutions for america's neglected needs. and now, "bbc world news." >> this is "bbc world news." am lewis vaughan jones. heour top stories --eath toll in indonesia tsunami rises

julia boorstin is with us now talking to us from l.a. looking at the decline and cost of facebook's failures. >>> the cost of facebook's scale yours around data privacy as well as manipulation on the platform the stock rally to an all time high but the stock is down at 30% and down 20% for the year. that bring's mark zuckerberg's net worth down by $20 billion next year. then there's the potential cost of the district of "columbia's" lawsuit filed by the d.c. residents whose data was exposed to cambridge analytica if facebook loses the suit, it could pay $1.7 billion in fines. the ftc is looking to see if facebook is found in violation of their agreement fines cub in the billions of dollars. then there are reputational issues the top result for facebook on twitter yields a "new york times" article on how to quit the platform and the naacp and other civil rights groups are urging a boycott this week we'll see if these issues impact big brand tiesers suadvertisers netflix. as for further damage to the restock, facebook's problems were calle

. >>> let's get to julia boorstin with a news alert on t-mobile and sprint. >> that's right, t-mobile and sprint expect their $26 billion merger to be approved by a u.s. national security panel as early as next week according to a report by reuters that reports their respective parent company says they would consider curbing their use of equipment from huawei after deutch telecom has been pressured to stop using huawei equipment on concerns it could lead to cyber spying, which huawei denies. t-mobile shares down 1% on this news we'll get back to you as we get comments. >> and softbank, julia, also said it will stop using huawei the owner of sprint there, so big hurdle for them to clear, both the owners of sprint and t-mobile. >> absolutely. >>> we're keeping an eye on auto stocks following news china is suspending some tariffs on cars imported from the u.s. phil lebeau is live in chicago with more. >> when you look at how many vehicles that are expected to be exported to china, it's not a huge number but it's significant for these companies, we are talking about mercedes out of its pl

julia boorstin is out west julia? >> reporter: jon, shares down 9% the company's worst day since july when they released disappointing earnings the second worst performer today in the s&p today, pointing to an amnesty international report, saying the company will be forced to clean up the site, saying that will impact its monthly active users. amnesty international, publisher for tuesday, fighting extensive online abuse against women on twitter. even with today's decline, twitter shares are still up 25% year to date jon, back to you >> thanks. i'm surprised it takes amnesty international for people to be aware of that. watching the major averages, one day after jay powell signaled a hawkish tone than some expected, saying the central bank would continue to shake the balance sheet at the current pace, triggering more losses they're on track for the worst december since the great depression bob pisani is on the floor, watching it all. >> hello, jon, we're down but even on advanced decline line. look at sectors. help fro

. >>> julia boorstin has a market flash on snap. >> that's right. snap shares down as much as 3.4% earlier this morning they've bounced back, now down 1.35%. now, this comes after the stock hit a new all-time low on monday of $5.57 that's four times lower than snap's post ipo price of nearly 24.50, prompting an article yesterday saying snap should go private. snap is underperforming the other social stocks today. twitter is down about 1%, facebook is pretty flat. guys, back to you. >> thanks, julia with apple planning to build new campuses in their area, that's not going to help either. >>> up next, how this retail investor is navigating volatility in the markets. ceo of robin hood is with us on that the new interest rate announcement and more after the break. stay with us place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. >>> welc

boorstin at the fortunes most powerful women's next gen conference in california julia, take it away >> reporter: sara, thanks so much i'm joined by monica bickard, vp for policy management. >> thanks for having me on. >> you're responsible for everything hat facebook when it comes to content, that includes neighboring news and all sorts of hate speech that's been used to incite violence all over the world. what do you say to criticism that facebook hasn't done enough to tamp down on hate speech, especially in myanmar where there's been a communication tied back to facebook? >> first of all, let me be clear there, he's no place for hate speech or incitement to violence we're not always quick enough to remove that content. a big part of that is talking to real groups on the ground, people in communities and community leaders and hearing from them. what are the new trends? had a are they worried about in terms of safety and then working with our engineers and our content reviewers to build the tools to find that content and remove it. >> you may have the rules in place, but that hasn't

boorstin is with me here at one market for more what's the takeaway here >> i think randall stevenson said netflix is more like walmart, it's a place that's a mass aggregator of content but not necessarily premium. they will launch in about a year they're not going head-to-head with netflix take a listen to what he had to say. >> the goal of warner media and steinke is not to create another netflix or a direct to consumer product that rivals netflix in terms of being a warehouse >> and he did specifically say that netflix was like walmart. >> now, okay, this reminds me of the albanian army comment. when i think of what's driving netflix from their messaging, the data we've seen it's not being a warehouse of everything. it's more the original content and the ability to share everything that netflix is doing pretty much globally it looks like at&t and maybe some of the other traditional players have ties. >> it's true that at&t can't go global right out at the start. the fact that hbo does have a separate international service if you look at the fact that warner brothers, which is now p

will there be a silver lining for buyers next year julia boorstin has your 2019 social media playbook. ♪ >>> social media giants were under fire in 2018 here's what to watch for in the year ahead first, social giants get hit with regulation, with the eu implementing new privacy rules this year expect more laws around the rorld regulaworld. plus expect antitrust juteny making it harder for facebook, twitter and youtube to make meaningful acquisitions. second, fake news will spire out of control a step beyond misleading articles and inaccurate videos new technologies allowing the manipulation of video and audio will drive the spread of fake videos that look and sound authentic. finally social platforms will struggle with stagnating user and advertiser growth as the risk of social platforms grows and facebook fatigue and twitter trolling both users and advertisers will consider their expenditure of time and ad dollars. those businesses with fewer advertising options are likely to stay loyal to facebook. expect snap to distance itself from facebook's challenges. >>> coming up on "worldw

boorstin has the latest on this story this morning. good morning, julia. >> good morning to you, andrew "the new york times" reporting that facebook gave microsoft, amazon and others access to user data, including e-mail addresses and phone numbers, giving netflix and spotify the ability to read users' private messages without user consent facebook's director of privacy and public policy responding to this "new york times" article saying they're winding down integration partnerships and they know they have work to do to regain people's trusts but also defending facebook, saying facebook's partners don't get to ignore people's privacy settings and it's wrong to suggest that they do. over the years we've partnered with other companies so people can use facebook on devices and platforms that we don't support ourselves. unlike a game, streaming music service, or other third-party app, which offers experience that are independent of facebook, these partners can only offer specific facebook features and are unable to use information for inde

>> julia, thank you. julia boorstin in los angeles. tyler? >> melissa, thank you very much. as if the fed was not enough, we've still got thetrade issue down here in d.c. and now the prospect of a government shutdown this weekend. maybe, maybe not, maybe fading and not to mention the sleel slalom the white house has to ski in the face of ongoing investigations and impending democrat control of the house. so is wall street pricing in these risks and doing it right let's bring in dan clifton, cnbc editor at large john harwood, michael farr also with us as well john, i'm going to go g.ing to start with you, the headlines in the past couple minutes that our friend eamon brought us that maybe the president is not so willing to sign a continuing resolution that seemed to be moving through the senate. your view on that? >> i think he will sign t i do not think there will be a government shutdown. mitch mcconnell didn't just casually come out and introduce that punt until february so i think there's consensus on hat the democrats are on board as well the president likes to talk big,

julia boorstin is not really up late at all like us. she has more out there in los angeles where it's early, i'm told, julia. >> reporter: that's right. well, that announcement of facebook share buy back was made late friday sending those facebook shares higher today by more than 3% now facebook's $9 billion share repurchase program is on top of the $15 billion in repurchases that the company started back in 2017 facebook stock though even after today's gains is still down about 34% from its all-time high that it hit on july 25th as a string of issues around election manipulation, data privacy and transparency continue to weigh on the stock but facebook is actually the only positive stock among the faang names since the beginning of december. facebook is up 1% in the past ten days while the worst performing of them, netflix, is down nearly 6% j&p securities is saying they believe the move, quote, suggests its underlying business trends across both engagement rates and advertising remains strong before the share buy back was announced on

let's get to julia boorstin. julia? >> reporter: cbs announcing it has signed an agreement to sell its 25 acre cbs television city property to a los angeles based real estate developer called hackman capital partners for $750 million cbs programs will continue to be produced at this location for the next five years. joe ianelli said the sale unlocks significant value unlocking the significant financial flexibility unlocking capital for significant growth initiatives such as content investment it owns the 40 acre studio sentences centers in california. this is a significant sale for the company so interesting to see what they do with that $750 million. back over to you >> julia, thank you. it has been another volatile day on wall street we'll get some of the big names moving after hours after this. you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. that grandpa's nose i can'is performing "flight of the bumblebee?" ♪ no, you goof. i can't

boorstin joins to us break down the costs julia. >> well the cause of facebook failure around data manipulation after rallying in july facebook shares are down about 38% since then and off more than 20% for the year bringing mark zuckerberg's net weather down by $20 billion this year then the cost of the district of columbia lawsuit filed on behalf of the 340,000 d.c. residents whose data was exposed to cambridge analytica. if facebook lose this is suit it could be forced pay $1.7 billion in fines the ftc is investigating if facebook violated the 2011 privacy agreement. violations could bring in billions of dollars in fines then there are the reputational issues, the naacp and other civil rights groups urge a boycott of facebook raising questions about whether big brands will stay loyal back to you. >> all right julia we'll see if the bounce can continue with all the concerns in the background. >> owe money even for facebook. >> i'm monitoring the nike call. stay with us >> "fast money" begins right now. >>> "fast money" starts right now. live from the nasdaq market site overlooking new york ci

. >>> getting news here out of facebook julia boorstin with that >>> facebook admitting to another privacy issue saying a bug affecting up to 6.8 million users expose today toes that users had not yet third to third-party developers saying they had access to the photos for 12 days in september facebook saying in a blog post, quote, we're sorry this happened early next week we'll roll out tools for app developers that will allow them to determine which people using their app might be impacted by this bug. we'll work with the developers to delete the photos from impacted users s in the latest in a series of negative headlines around privacy issues as well as fake news for facebook. facebook shares down over 1% morgan, back to you. >> julia, thank you. >>> when we come back, stocks selling off. we're closing in on wiping out this week's gains for the dow, s&p 500 and nasdaq 11 trading days left in the year we'll tell youhe to wreput your money to work. "squawk on the street" will be right back don't go away. >>> time for our etf spotlight seema mody is looking at the global markets under pres

his lawyer has other ideas julia boorstin is following the story for us. >> reporter: melissa, this battle may not be over les moonves' attorney issuing a statement after the cbs board decision to not give him $120 million in severance his attorneys saying, quote, the conclusions the cbs board were foreordained and are without merit. consistent with the pattern of leaks, the press was informed of these baseless conclusions before mr. moonves further damaging his name, reputation, career and legacy. mr. moonves denies any non-consensual sexual relations and cooperated fully with investigators. on monday the cbs board including six new members since he was ousted reaching a very different sexual relations and cooperated extensively and fully with investigators. he said the decision to fire him f cause occurred because of his willful and material mi misfeasance, violation of company policies and breach of his employment contract as well as his willful failure to cooperate fully with the company's investigation. cbs' board says it's working to promote a workplace culture of respect and inclusi