Facebook privacy

Snap shares slide after Facebook launches competitive app

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Shares for Snap Inc., the parent company of Snapchat, were down nearly 7% after Facebook announced the launch of "Threads," a new messaging app for Facebook-owned Instagram that looks and feels a lot like Snapchat.

Why it matters: The app could certainly pose a real threat to Snapchat, as it will be made available and likely marketed to all of Instagram's 1 billion+ users around the world.

U.S., U.K. and Australia to ask Facebook to halt encryption tech

Photo: Thomas Trutschel/Photothek via Getty Images

U.S. Attorney General Bill Barr and officials from the U.K. and Australia (three of the "Five Eyes" intelligence alliance) plan to send a letter to Facebook requesting the company halt implementation of end-to-end encryption tech into its services, which would make content inaccessible to law enforcement, BuzzFeed first reported.

Why it matters: This is the latest example of the tension between the technology industry and governments when it comes to balancing digital privacy of consumers and law enforcement.