Facebook shares rise as Zuckerberg soothes investors

The social networking site is also reducing its Android call history and SMS data collection after users discovered years of phone records and SMS communications in their accounts.

While users can send disappearing messages on Messenger à la Snapchat, they can't retroactively delete their own messages from other people's inboxes.

The EU and Facebook will be looking at what changes the social media giant needs to make to better protect users and how the US company must adapt to new EU data protection rules.

Now we're learning that Facebook has essentially created a two-tier system of privacy for Messenger users: Zuckerberg and a handful of other Facebook executives enjoy a limited "retention period" of their messages, whereas the embarrassing messages of ordinary users live on as long as their recipients want to keep them. Being the CEO, Mark Zuckerberg already gets special treatment when it comes to his Facebook profile.

Facebook has asked several major US hospitals to share anonymised data about their patients, such as illnesses and prescription info, for a proposed research project.

Facebook (FB.O) has confirmed that the data of 2.7 million European Union citizens were among those improperly used by political consultancy Cambridge Analytica, the European Union executive said on Friday. That's how Facebook makes its money.

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"The project could have raised new concerns about the massive amount of data Facebook collects about its users, and how this data can be used in ways users never expected". European Union ruled that while Facebook had said it would not combine data from WhatsApp it later announced it would begin doing so, and that would allow it to gain an unfair advantage over rivals.

Zuckerberg said fixing the company's problems will take years. Sandberg said that at the time, Facebook received legal assurances that Cambridge Analytica had deleted the improperly obtained information. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

A Facebook representative told the website The Verge that the information would have been used generally and not customized to specific patients. He will appear before both the Senate and the House next week.

According to Facebook's Chief Operating Officer, Sheryl Sandberg, the new feature will roll out Monday.

Companies including United States auto parts retailer Pep Boys, internet company Mozilla and German bank Commerzbank AG have suspended advertisement on the platform. On the other hand, regulatory and user pressure has sometimes led Facebook to pull back on its data collection and use and to explain things in plainer language - in contrast to dense legalese from many other internet companies.

"Given the scale and sophistication of the activity we've seen, we believe most people on Facebook could have had their public profile scraped in this way", he said.

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