The daily business briefing: April 11, 2018

Zuckerberg tells senators Facebook "didn't do enough" to protect privacy, VW prepares to replace CEO Matthias Mueller, and more

Zuckerberg tells senators Facebook "didn't do enough" to protect privacy.
(Image credit: JIM WATSON/AFP/Getty Images)

1. Zuckerberg tells senators Facebook 'didn't do enough' to protect privacy

Facebook CEO Mark Zuckerberg repeated his apologies for the social network's mishandling of user data on Monday in testimony to the Senate's Commerce and Judiciary committees. Zuckerberg, wearing a dark suit rather than his customary T-shirt and jeans, said the realization that a Russian agency had pushed fake news, and that data-mining firm Cambridge Analytica had improperly accessed information from 87 million Facebook users, had sparked the company to review how it protects users' privacy. "We didn't do enough to make sure these tools aren't being used for harm," Zuckerberg said. The company's stock, which has been battered by the scandal, rose by 4.5 percent. Zuckerberg testifies again Wednesday before the House Energy and Commerce Committee.

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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.