The US and EU have agreed to avoid an all-out trade war and work to lower tariffs, in talks that US President Donald Trump hailed as “a very strong understanding”.
He and European Commission chief Jean-Claude Juncker announced a “new phase” in EU-US relations, after Wednesday’s meeting at the White House.
***
More than $119bn (£90.8bn) has been wiped off Facebook’s market value, which includes a $17bn hit to the fortune of its founder, Mark Zuckerberg, after the company told investors that user growth had slowed in the wake of the Cambridge Analutica scandal.
Facebook’s shares plunged 19% on Thursday in New York, a day after the Silicon Valley company revealed that three million users had abandoned the social network since the Observer revealed the Cambridge Analytica breach of 87m Facebook profiles and the introduction of strict European Union data protection legislation.
