Things are looking bad for Facebook and Mark Zuckerberg. In the UK, he’s being called before Parliament. In the US, Congress and the Federal Trade Commission (FTC) want to chat. On Wall Street, Facebook stock is tanking. An attempt at crisis management fell flat. And irate users are talking about dropping the social media platform altogether since allegations surfaced that the personal data of 50 million members was used to help elect Donald Trump. — David Rovella, Bloomberg
Facebook Probed Over Data Allegedly Used by Trump. The FTC and members of Congress are investigating how the personal data of all those Facebook users allegedly made it to Cambridge Analytica, the firm that worked for Trump’s campaign.
Due to a lapse in funding, the U.S. federal government has shut down. The federal government will remain shutdown until a funding bill is passed.
During the shutdown, the USA.gov website will be available. You can also get answers to government questions by calling 1-844-USAGOV1 (1-844-872-4681), 8 AM – 8 PM (Eastern Time), Monday through Friday.
USAGov 1800 F Street, NW Washington, DC 20405 USA
Blackstone, the biggest name in private equity has turned its attention to infrastructure. Blackstone’s head of private equity Joe Baratta, excited about the infrastructure opportunities that a Donald Trump presidency could potentially unleash, planted his flag firmly in the sand:
“To be relevant in that end of the market, I think you need to be deploying billions of dollars at a time, not hundreds of millions. So you’re probably talking about a vehicle that’s 20, 30, 40 billion dollars of equity,” he told Bloomberg TV. When asked if that meant aiming for the largest vehicle ever raised, he added: “Correct. That would be the ambition if this comes to fruition, which we certainly think it will, in terms of the public sector aligning with the private sector to invest in the fabric of this country.”
The largest vehicle to date is Global Infrastructure Partners’ third fund, which closed recently at $15.8 billion. The second-largest is Brookfield’s third infrastructure fund, which closed last summer on $14 billion. Baratta’s upper end effectively dwarfs the two combined. Go big or go home. Continue reading Blackstone looking to raise $40bn Infrastructure Fund