Business: FTC looks into Facebook internal research

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Federal Trade Commission staffers have begun looking into disclosures that Facebook’s internal company research had identified ill effects from its products.

The Wall Street Journal says officials are looking into whether Facebook research documents indicate it might have violated a 2019 settlement with the agency over privacy concerns, for which the company paid a record $5 billion penalty.

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A continued rebound in digital ad spending at Google drove its parent company's profit up 68% in the third quarter. Alphabet   earned $18.9 billion, or $27.99 per share, in the July-September period. Revenue soared 41% to $65.1 billion.

Oil prices are lower this morning after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the U.S., the world’s largest oil consumer.

With oil prices rising steadily for more than two months, analysts say prices are starting to look overbought.