Tech

Mark Zuckerberg faces blowback from Facebook employees over ruling on Trump comments

Jim Stein June 1, 2020

(Technology) – Facebook employees critical of CEO Mark Zuckerberg’s decision not to remove an inflammatory comment from U.S. President Donald Trump took their dissent public over the weekend on Twitter, praising the rival social media firm for taking action and rebuking their

Tech

Trump’s move may eliminate, weaken law protecting social media firms

Jim Stein May 29, 2020

WASHINGTON (Technology) – President Donald Trump said he will introduce legislation that may scrap or weaken a law that has protected internet companies, including Twitter and Facebook, in an extraordinary attempt to regulate social media platforms where he has been criticized. The proposed legislation is part of an executive order Trump signed on Thursday afternoon.

Finance

Stakes in Citi, Boeing, Facebook disclosed by Saudi sovereign fund

Jim Stein May 16, 2020

DUBAI (Finance) – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has purchased minority stakes in major U.S. companies including Boeing, Facebook and Citigroup, according to a U.S. regulatory filing. PIF disclosed a $713.7 million stake in Boeing, around $522 million in Citigroup, a $522 million stake in Facebook, a $495.8 milllion

Tech

Giphy bought by Facebook to integrate the GIF site with Instagram

Jim Stein May 16, 2020

(Technology) – Facebook Inc is acquiring Giphy, a popular website for making and sharing animated images, or GIFs, and will integrate it with its rapidly growing Instagram photo-sharing app, Facebook said in a blog post on Friday. The cost, which Facebook and Giphy declined to disclose, was placed at around $400 million by news website […]

Tech

Antitrust allegations against WhatsApp under review by Indian watchdog

Editorial Bureau May 16, 2020

NEW DELHI (Technology) – India’s antitrust watchdog is looking into allegations that Facebook’s WhatsApp is abusing its dominant position by offering payment services to its vast base of messaging app users in the country, three sources told Reuters on Friday. The Competition Commission of India (CCI) is reviewing a complaint filed in mid-March alleging

Tech

Facebook allowing remote working to employees till year-end

Nia N May 8, 2020

(Technology) – Facebook Inc said on Friday it would allow its workers who are able to work remotely to do so until the end of the year as the coronavirus pandemic forces governments to extend stay-at-home orders to curb the spread of the disease. The social media giant also expects most offices to stay closed […]

Tech

Despite Facebook’s coronavirus online ads slump, sales poised to hold steady

Nia N April 29, 2020

SAN FRANCISCO (Technology) – Facebook Inc ad sales appear to have ticked up since late March, offering investors reason for optimism even as decimated advertising budgets from the coronavirus are expected to weigh heavily on first-quarter earnings, according to data from firms that track online ads. Analysts on average expect Facebook on Wednesday to report […]

Tech

To reach small grocers, Facebook invests $5.7 billion in Reliance India unit

Nia N April 22, 2020

BENGALURU (Technology) – Facebook will spend $5.7 billion for 10% of Reliance Industries’s digital business, as the social media firm looks to leverage its popular WhatsApp messenger to offer digital payment services to small grocers in India. The deal will help Reliance cut debt that has piled up in its push to secure top spot […]

Tech

Australia forces Google, Facebook to pay domestic media for content use

Nia N April 20, 2020

SYDNEY (Technology) – Australia will force Facebook Inc and Alphabet Inc’s Google to share advertising revenue with local media firms, the country’s treasurer said on Monday, becoming one of the first countries to require digital platforms to pay for content they use. Treasurer Josh Frydenberg said the move comes after talks with Facebook and Alphabet

Tech

G20’s ground rules set ahead of Facebook’s Libra stablecoin

Nia N April 14, 2020

LONDON (Technology) – The world’s leading economies need to plug gaps in their rulebooks to avoid digital currencies like Facebook’s planned Libra stablecoin from undermining financial stability, the Group of 20 Economies’ (G20) regulatory watchdog said on Tuesday. Stablecoins are tied to a traditional currency or basket of assets, and used for