The daily business briefing: April 12, 2018

Zuckerberg says social media regulations are "inevitable," stocks struggle to rebound despite Syria tensions, and more

Zuckerberg says social media regulations are "inevitable."
(Image credit: SAUL LOEB/AFP/Getty Images)

1. Zuckerberg concedes social media regulations 'inevitable'

Facebook CEO Mark Zuckerberg faced a second day of questioning on Capitol Hill on Wednesday, fielding tougher questions from members of the House Energy and Commerce Committee than he did Tuesday from members of the Senate. For five hours, both Democrats and Republicans grilled him on Facebook's privacy policies, often cutting him off and pressing him to answer "yes" or "no." He repeated his apologies for the accessing of personal information of 87 million users by data-mining firm Cambridge Analytica, but lawmakers questioned whether Facebook could fix its privacy problems without government help in the form of regulation. Zuckerberg, appearing frustrated at times, acknowledged that some kind of regulation of social media probably was "inevitable."

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.