Adidas ends Ye deal over hate speech, costing rapper his billionaire status

Adidas ends Ye deal over hate speech, costing rapper his billionaire status
  • Adidas ends partnership right away
  • To choose about $250 mln strike to 2022 net revenue
  • Gap, Balenciaga have also cut ties with Ye

Oct 25 (Reuters) – Adidas AG (ADSGn.DE) terminated its partnership with rapper and manner designer Ye on Tuesday right after he created a sequence of antisemitic remarks, a go that knocked the musician off the Forbes list of the world’s billionaires.

Adidas place the tie-up, which has made numerous hot-advertising Yeezy branded sneakers, under evaluation this month.

“Adidas does not tolerate antisemitism and any other type of hate speech,” the German firm said on Tuesday.

“Ye’s current feedback and steps have been unacceptable, hateful and unsafe, and they violate the company’s values of variety and inclusion, mutual regard and fairness,” it mentioned.

Forbes journal stated the end of the deal intended Ye’s net worth shrank to $400 million. The magazine experienced valued his share of the Adidas partnership at $1.5 billion.

The remainder of Ye’s wealth will come from serious estate, hard cash, his tunes catalogue and a 5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} stake in ex-wife Kim Kardashian’s shapewear company, Skims, Forbes said.

Associates for Ye, formerly known as Kanye West, did not quickly reply to a ask for for comment.

For Adidas, ending the partnership and the generation of Yeezy branded products and solutions, as nicely as stopping all payments to Ye and his organizations, will have a “brief-term damaging impression” of up to 250 million euros ($248.90 million) on internet cash flow this 12 months, the company claimed.

Ye has courted controversy in the latest months by publicly ending major company tie-ups and earning outbursts on social media from other superstars. His Twitter and Instagram accounts ended up restricted, with the social media platforms getting rid of some of his online posts that buyers condemned as antisemitic.

In now-deleted Instagram posts previously this 12 months, the numerous Grammy award-winning artist accused Adidas and U.S. apparel retailer Hole Inc (GPS.N) of failing to make contractually promised long term retailers for merchandise from his Yeezy trend line.

He also accused Adidas of thieving his layouts for its own goods.

On Tuesday, Gap, which had ended its partnership with Ye in September, claimed it was taking instant actions to take away Yeezy Gap items from its merchants and that it experienced shut down YeezyGap.com.

“Antisemitism, racism and dislike in any type are inexcusable and not tolerated in accordance with our values,” Gap mentioned in a assertion.

European fashion house Balenciaga has also cut ties with Ye, according to media reports.

“The saga of Ye … underlines the value of vetting stars completely and keeping away from all those who are overly controversial or unstable,” mentioned Neil Saunders, managing director of GlobalData.

Adidas poached Ye from rival Nike Inc (NKE.N) in 2013 and agreed to a new long-phrase partnership in 2016 in what the enterprise then termed “the most sizeable partnership produced among a non-athlete and a sports activities manufacturer.”

The tie-up served the German brand name shut the gap with Nike in the U.S. marketplace.

Yeezy sneakers, which cost among $200 and $700, create about 1.5 billion euros ($1.47 billion) in once-a-year gross sales for Adidas, building up a small more than 7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of its total earnings, according to estimates from Telsey Advisory Group.

Shares in Adidas, which lower its full-calendar year forecast past 7 days, closed down 3.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. The team reported it would provide a lot more details as portion of its approaching Q3 earnings announcement on Nov. 9.

($1 = 1.0044 euros)

Reporting by Mrinmay Dey, Uday Sampath and Aishwarya Venugopal in Bengaluru and Lisa Richwine in Los Angeles Modifying by Tomasz Janowski, Sriraj Kalluvila, Bernadette Baum, Anil D’Silva and Cynthia Osterman

Our Expectations: The Thomson Reuters Have faith in Ideas.

Biden speech today: President wants Russia removed from G20, hopes to visit refugees in Poland

Biden speech today: President wants Russia removed from G20, hopes to visit refugees in Poland

Biden says Ukraine should attend G20 meetings if efforts to expel Russia unsuccessful

President Joe Biden wants Russia removed from the G20, but stressed that it is the organisation’s decision adding that an alternative would be for Ukraine to attend as an observer.

Mr Biden was speaking at a press conference at Nato Headquarters following meetings with leaders of both the alliance and the G7 in an extraordinary day of summits in Brussels over the invasion of Ukraine.

The president also said that he warned China not to help Russia or risk its economy; there would be an appropriate response to the use of chemical weapons; and that he will likely be visiting refugees at the Polish border tomorrow.

Mr Biden is now meeting with the European Council in a day focussed on allied unity.

Thursday’s meetings are to coordinate with Nato allies on military assistance for Ukraine, new sanctions on Russia, and the boosting of defences in Eastern Europe. The US has also now officially accused Russian forces of war crimes in Ukraine.

The US also announced it will welcome 100,000 refugees displaced by the Russian invasion — one of the country’s biggest refugee intakes in years.

At home, the latest polling shows the majority of Americans want the president to take a tougher stance on Russia, while his approval rating remains unchanged since the beginning of the conflict in Europe.

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White House forms team to plan for possible use of chemical, biological, nuclear weapons by Russia

A senior administration official has confirmed reporting by The New York Times that the White House has set up a team of national security officials to plan for what happens if Russia uses chemical, biological, or tactical nuclear weapons in its war on Ukraine.

The US and allies are concerned the Kremlin might resort to such a move as its invasion struggles against Ukrainian resistance and Moscow’s own issues. The Biden administration has been warning of such a possibility since the early days of the war — perhaps as a false flag operation.

White House national security adviser Jake Sullivan sent a memo on 28 February detailing how the “Tiger Team” would examine what might happen over the next three months of conflict, NBC News reports a senior administration official as saying.

The team is looking at scenarios including: Russia using chemical, biological, or nuclear weapons; Russia targeting allied convoys carrying weapons to Ukraine; the implications of a disruption to the global food supply; and the growing refugee crisis as millions of Ukrainians flee the country, the official said.

Mr Sullivan’s memo also established a second “strategy group” responsible for looking at the longer-term major geo-political shifts that have been triggered by the invasion.

The use of such lethal weapons of mass destruction would dramatically escalate the conflict. Russia has already increasingly attacked civilians.

Given the possibility that the impact of these types of weapons might spill into Nato countries, the alliance would have to consider whether it would respond.

Oliver O’Connell25 March 2022 01:00

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Biden calls for Russia to be removed from G20

Oliver O’Connell25 March 2022 00:15

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GOP official refuses to say Biden was ‘duly elected’

A Democrat on the committee pressed the attorney general of Alabama, a vocal supporter of the former president’s falsehoods about the 2020 election, on Thursday whether Mr Biden was the “duly elected” president; the Republican official, Steve Marshall, repeatedly dodged his questions until the senator moved on.

John Bowden reports from Washington, DC.

Oliver O’Connell24 March 2022 23:45

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Joint Readout by US and European Council

Today, the European Council was joined by President Joseph R Biden, Jr of the United States. The leaders discussed the coordinated and united response of the European Union and the United States to Russia’s unprovoked and unjustified military aggression in Ukraine. They reviewed their ongoing efforts to impose economic costs on Russia and Belarus, as well as their readiness to adopt additional measures and to stop any attempts to circumvent sanctions.

Leaders discussed the urgent needs caused by Russia’s aggression, committed to continuing providing humanitarian assistance, including to neighboring countries hosting refugees, and underscored the need for Russia to guarantee humanitarian access to those affected by or fleeing the violence.

Leaders welcomed the opening of international investigations, including by the Prosecutor of the International Criminal Court, and ongoing efforts to gather evidence of atrocities.

In addition, leaders discussed EU-US cooperation to reduce dependence on Russian fossil fuels, accelerate the transition to clean energy, as well as the need to respond to evolving food security needs worldwide.

The leaders also concurred on the importance of strengthening democratic resilience in Ukraine, Moldova, and the wider Eastern partnership region.

Finally, leaders underscored the importance of enhancing transatlantic security and defense, including through robust Nato-EU cooperation as described in the EU’s Strategic Compass.

Oliver O’Connell24 March 2022 23:20

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Possibility of return of Trump ‘concerns our allies’ says ambassador

Marie Yovanovitch, a key witness during Mr Trump’s first impeachment trial, was speaking to former Obama adviser David Axelrod on the Axe Files podcast.

Mr Axelrod said Mr Trump was “emboldened by his acquittal” after Democrats launched the impeachment process following revelations that Mr Trump had tried to withhold military aid to Ukraine to get them to investigate President Joe Biden and his family. Mr Biden was a potential presidential candidate at the time.

Gustaf Kilander has the story.

Oliver O’Connell24 March 2022 23:00

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Biden: Ukraine should be able to attend G20 meetings if US efforts to expel Russia are unsuccessful

President Joe Biden has called for Ukraine to be welcomed at future G20 summits should US attempts to expel Russia be unsuccessful.

After meeting with European allies on Thursday in Brussels, Mr Biden told a press conference it was time to step up efforts to isolate Russia from the international community.

He said if G20 member countries blocked his request to remove Russia, then Ukraine should be invited to attend the meetings.

Oliver O’Connell24 March 2022 22:35

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Biden snaps at reporter over Russia sanctions question

Joe Biden snapped at a CBS News reporter who questioned why new sanctions would have an impact on Russia changing course in Ukraine when previous sanctions failed to deter an invasion.

Oliver O’Connell24 March 2022 22:20

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Biden evokes rise of Nazis as he’s asked whether Nato should fear Trump’s possible re-election

Addressing reporters at a Nato conference in Brussels on Thursday, Joe Biden said he had no concerns about a potential face-off against his 2020 Republican opponent, Donald Trump.

A reporter for the German magazine Der Spiegel pointed out that there was a presidential election – to which Mr Biden quipped “you’re kidding?”

After a small shuffle of laughter, the reporter continued and posed, without stating the former president’s actual name, what the Biden administration is doing now to prevent all the work he’s doing here with Nato, at the alliance’s headquarters, from “coming undone two years from now”.

Johanna Chisholm reports.

Oliver O’Connell24 March 2022 22:00

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Full remarks by President Joe Biden at Nato Headquarter press conference

Today marks one month since Russia began its carnage in Ukraine, the brutal invasion of Ukraine. And we held a Nato summit the very next day. At that time, my overwhelming objective, wanting that summit, was to have absolute unity on three key important issues among our Nato and European allies.

First was to support Ukraine with military and humanitarian assistance.

Second was to impose the most significant — the most significant sanctions — economic sanction regime ever, in order to cripple Putin’s economy and punish him for his actions.

Third was to fortify the eastern flank of our Nato Allies, who were obviously very, very concerned and somewhat at — worried what would happen.

We accomplished all three of these. And today, we’re determined to sustain those efforts and to build on them.

The United States has committed to provide over $2bn in military equipment to Ukraine since I became President — anti-air systems, anti-armor systems, ammunition. And our weapons are flowing into Ukraine as I speak.

And today, I’m announcing the United States have prepared to commit more than $1bn in humanitarian assistance to help get relief to millions of Ukrainians affected by the war in Ukraine.

Many Ukrainian refugees will wish to stay in Europe, closer to their homes. But we’ve also — will welcome 100,000 Ukrainians to the United States with a focus on reuniting families.

And we will invest $320m to bolster democratic resilience and defend human rights in Ukraine and neighboring countries.

We’re also coordinating with the G7 and the European Union on food security, as well as energy security, and I’ll have more to say about that tomorrow.

We’re also announcing new sanctions of more than 400 individuals and entities aligned with — in alignment with the European Union: more than 300 members of the Duma, oligarchs, and Russian defense companies that fuel the Russian war machine.

In addition to the 100,000 US forces now stationed in Europe to defend Nato territory, Nato established, as you already know, four new battle groups in Romania, Hungary, Bulgaria, and Slovakia to reinforce the eastern front.

Putin was banking on Nato being split. In my early conversation with him in December and early January, it was clear to me he didn’t think we could sustain this cohesion.

Nato has never, never been more united than it is today. Putin is getting exactly the opposite of what he intended to have as a consequence of going into Ukraine.

We built that same unity with our European — the European Union and with the leading democracies … in the G7.

Oliver O’Connell24 March 2022 21:44

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Congressional candidate quits campaign to join fight in Ukraine

A candidate for US Congress quit his campaign to join foreign mercenaries fighting in Ukraine.

Mark Lindquist, the only Democrat running in Minnesota’s 7th Congressional District, defied White House advice and is joining Ukraine’s “International Legion of Defence”.

Oliver O’Connell24 March 2022 21:32

Biden speech Tuesday to unveil COVID steps, ‘warning’ for unvaccinated

Kim Kardashian West thanks Kanye West in People’s Choice Awards fashion icon speech

Kim Kardashian West thanked Kanye West for his role in her journey to becoming a fashion icon during the 2021 People’s Choice Awards Tuesday night.

The show, which hands out countless awards in different categories such as film, television, animation, music and social media, honored the “Keeping Up With the Kardashians” star by making her the fashion icon of 2021.

Before she took the stage at the award ceremony, Kardashian West was introduced by Tracee Ellis Ross, the previous fashion icon recipient, who narrated a tribute video showcasing some of the entrepreneur’s most unforgettable looks. 

Then, Kardashian West walked onto the stage wearing an all-black ensemble, complete with a skin-tight dress, stilettos, tights and matching sunglasses. 


Kim Kardashian West on stage accepting her fashion icon award.Christopher Polk/E! Entertainment / NBCUniversal

“Oh my gosh to be receiving this award from a fashion icon herself, Tracee, I am so honored,” the reality television star gushed before continuing her speech.  

“I am honestly so humbled to be here,” she shared. “I started off as a closet organizer and a stylist, so the fact that I am winning a fashion icon award — it’s like a pinch-me moment. I have those every single day that designers are willing to work with me.”

Prior to Kardashian West becoming a household name, the entrepreneur got her start as Paris Hilton’s stylist. During her speech, she recalled a time when designers were not willing to collaborate with her. She specifically thanked designer Zac Posen for inviting her to her first Council of Fashion Designers of America Awards years ago.  

She joked that some designers started to support her after they were probably “talked into it by getting a call from Kanye (West).” 

“Thank you to Kanye, even, for really introducing me to the fashion world,” she added as the crowd cheered. 

Kardashian West filed for divorce from West in February. They share four children together: North, 8, Saint, 6, Chicago, 3, and Psalm 2. 

Toward the end of her speech, she explained, “I fell in love with fashion and I’m so inspired by so many people. This is like a dream that I get to wake up and wear these amazing clothes and try new things.”

After saying she was humbled by the recognition, Kardashian West encouraged her fans to “take a risk.”

In the introduction package, Ross perfectly summed up Kardashian West’s style by calling it risky, bold and sometimes risqué.

The Skims founder typically makes her most daring fashion statements at the Met Gala each year. 

When she attended the event for the first time in 2013, she walked hand-in-hand with her then-boyfriend, West, down the Metropolitan Museum of Art steps wearing a floral Givenchy dress. 

Kim Kardashian West and Kanye attend the 2013 Met Gala.
Dimitrios Kambouris / Getty Images

To showcase the theme of “Heavenly Bodies: Fashion & The Catholic Imagination” at Met Gala in 2018, Kardashian West rocked a skin-hugging, slinky gold gown that featured crosses. 

Kim Kardashian West at the “Heavenly Bodies: Fashion & The Catholic Imagination Costume Institute Gala” at The Metropolitan Museum of Art on May 7, 2018. Neilson Barnard / Getty Images

 To the 2019 Met Gala, the reality star donned a wet look by Thierry Mugler in honor of the theme “Celebrating Camp: Notes on Fashion.”

Kanye West and Kim Kardashian West at the 2019 Met Gala on May 6, 2019 in New York City.James Devaney / GC Images

Most recently, Kardashian West took her unique Met Gala looks a step further by attending the September event wearing a Balenciaga ensemble that completely covered her body in black fabric, from head to toe. 

Kim Kardashian West made headlines for this all-black look from Balenciaga at the 2021 Met Gala.Taylor Hill / WireImage

There’s no denying that Kardashian West definitely listens to her own advice and “takes a risk” when it comes to fashion. 

Read Nina Garcia’s CFDA Fashion Award Speech for Best Media Honor

At tonight’s CFDA Fashion Award ceremony, ELLE Editor-in-Chief Nina Garcia, dressed in Michael Kors Selection and Boucheron jewelry, took the stage to settle for the organization’s Media Award in honor of Eugenia Sheppard. In a candid speech, Garcia thanked Emily Ratajkowski, who launched her on phase, and then reflected on her journey in style as a Latina editor and her many years-long perform championing additional diverse voices and stories in trend journalism.

“As I started off out in this field, I was one particular of the pretty couple of Latinas,” Garcia mentioned. “Today, I am a single of the editors-in-main, and I am proud to see so several faces like mine in this room currently. To see much more numerous voices reflected in manner media. And to see far more gifted folks currently being supplied the house to convey to their stories.”

“My mission is so very clear,” she ongoing. “Now, additional than ever, it is significant to use our system to notify tales that uplift other gals and to have conversations that may possibly not be so relaxed. We have to be bold we have to be courageous and we absolutely ought to herald in a new age of manner, a single that is transparent, dependable, and consultant.”

Examine Ratajkowski’s introduction of Garcia down below:

It is my enjoyment to talk tonight about my dear buddy, Nina Garcia. I initially achieved Nina a long time ago. We quickly related, chatting about our mothers, adore of artwork, and encounters in the market. Nina was an inspiration for me about what a robust, fearless lady in trend seems like.

Nina is a genuine trailblazer. In 2017, she became the very first Latina to guide a key American trend title, and at ELLE, she directs the premier fashion media brand in the globe.

ELLE has often embraced diversity, but Nina has taken this determination to a further level. She places manner in the context of society and is fiercely devoted to providing a platform to new voices, together with rising creatives from underrepresented and marginalized communities. For her two most significant concerns of 2021, Nina used her system to spotlight significant problems. In the March Situation, FKA Twigs bravely mentioned her expertise with intimate partner violence, and ELLE opened a portal to donate to companies that supply help for domestic abuse survivors. For this operate, Nina been given WomanKind’s 2021 Phoenix Lady of the Yr in Media Award. And then in September, ELLE released the Latinx Situation that includes Selena Gomez. Nina and ELLE partnered with the CFDA to give webinars for emerging Latinx designers, demonstrating that her journals increase over and above the internet pages.

Nina will often use her electric power and her platform to stand up for women of all ages. And she is eager to open up up about her individual encounters as nicely. Two a long time back, Nina shared her tale about her preventative double mastectomy on ELLE.com. Putting a spotlight on her possess journey, Nina aided other females with theirs, and due to the fact that going piece, Nina has devoted herself to advocating for breast most cancers consciousness and study, encouraging other women of all ages through charities like the Breast Most cancers Investigate Basis.

Nina, thank you for your vision and your fearlessness, and it is my good honor to present Nina Garcia the CFDA Media Award in honor of Eugenia Sheppard.

And Garcia’s complete speech that followed:

Emily, thank you so a great deal for your type text and congratulations for the launch of your new ebook, My Entire body, congratulations. It can be actually awesome. What an honor to be on this stage with all of you tonight.

My really like affair with manner and media started off in the coastal metropolis of Barranquilla, Colombia in my mother’s closet. Her closet was her sacred room. It only belonged to her, and she wouldn’t let us inside extremely often. My mother was a dimension 16 in a entire world of a dimensions 4. But, each and every time she emerged from that closet, it was a daring declaration that vogue belonged to her too. That was a huge lesson for me. She taught me that manner can be transformative.

In the course of my occupation, the connection to my roots has been extremely impressive and a resource of my toughness. On the lookout back, I see myself as a 10-yr-aged in my hometown, scissors in hand, cutting up and creating my pretty individual fashion magazines as my mother looked on. I was so blessed to know back again then that this was my passion, and I hardly ever believed in my wildest goals, that the small female from Barranquilla would be on this stage, accepting this award.

As I began out in this market, I was a single of the incredibly several Latinas. Currently, I am one particular of the editors-in-chief, and I am very pleased to see so several faces like mine in this home now. To see much more varied voices reflected in style media. And to see much more gifted folks becoming presented the place to explain to their stories.

My mission is so apparent. Now, a lot more than ever, it is crucial to use our platform to explain to stories that uplift other gals and to have conversations that may well not be so at ease. We will have to be bold we need to be brave and we certainly need to herald in a new age of manner, 1 that is clear, responsible, and consultant.

I want to thank the CFDA, Tom Ford, Steven Kolb, my family, my superb spouse, Hearst which has provided me this outstanding system, and unquestionably my incredible group at ELLE. I would not be listed here now with no every single and each individual just one of you in this home. This recognition travels straight to my coronary heart. I am so honored. Thank you so substantially.

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New Facebook whistleblower claims execs downplayed Russian interference, hate speech: report

A new whistleblower has arrive forward with allegations that Fb officials prioritized earnings above their efforts to include the unfold of hate speech and misinformation on the social media platform, according to a report Friday.

The whistleblower, determined as a former Fb employee and associates of the company’s Integrity division, built the allegations in an affidavit to the Securities and Trade Fee, the Washington Submit documented.

The statements purportedly corroborated many the latest allegations by Frances Haugen, yet another former Fb personnel who delivered damning testimony about the company’s methods on Capitol Hill previously this month. 

WHISTLEBLOWER FRANCES HAUGEN, Facebook OVERSIGHT BOARD TO Satisfy IN ‘COMING WEEKS’

WASHINGTON, DC – APRIL 10: Fb co-founder, Chairman and CEO Mark Zuckerberg comes to testify prior to a merged Senate Judiciary and Commerce committee listening to in the Hart Senate Office Building on Capitol Hill April 10, 2018 in Washington, DC. (Chip Somodevilla/Getty Visuals / Getty Visuals)

The new whistleblower mentioned Facebook officials were usually indifferent about public concerns relating to problematic information or undercut efforts to react owing to concerns about political blowback from then-President Donald Trump and destruction to the company’s base line. 

The affidavit, dated Oct. 13 in-depth just one incident in 2017 in which a Fb communications govt purportedly dismissed considerations about community backlash concerning Russian interference in the 2016 election.

“It will be a flash in the pan. Some legislators will get pissy,” Facebook communications formal Tucker Bounds stated, according to the whistleblower. “And then in a several weeks they will go onto a little something else. Meanwhile, we are printing cash in the basement, and we are good.”

Previous Fb info scientist Frances Haugen speaks through a listening to of the Senate Commerce, Science, and Transportation Subcommittee on Buyer Defense, Products Security, and Details Safety, on Capitol Hill, Tuesday, Oct. 5, 2021, in Washington. ( ( (AP Image/Alex Brandon))

The new whistleblower’s identification has not been publicly disclosed. 

A Facebook consultant slammed the report in a statement attained by the Put up.

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“This is beneath the Washington Write-up, which throughout the very last 5 yrs competed ferociously with the New York Times in excess of the quantity of corroborating sources its reporters could uncover for one anecdotes in deeply reported, intricate tales,” Facebook spokeswoman Erin McPike reported. “It sets a perilous precedent to hang an total story on a single supply creating a extensive range of statements without having any clear corroboration.”

The hottest allegations surfaced as Fb contends with unprecedented criticism from lawmakers about its organization procedures. Damning media experiences published by the Wall Road Journal and other outlets comprehensive interior Facebook documents indicating executives ended up knowledgeable the system was producing community damage.

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The Journal’s collection was based on files furnished by Haugen, who has termed on Congress to regulate Facebook.