Meta shares surge despite Facebook owner’s weakest revenue growth for a decade April 28, 2022 Meta shares were lifted after the social media giant’s first earnings report, despite missing Wall Street analysts’ revenue estimates. Facebook’s owner saw shares surge some 13 per cent after, revealing it had managed to claw back some users, after previously reporting its first ever decline in user-numbers. Meta lost a staggering $230bn in market value [...]
Zuck Bucks coming next month: Facebook’s Meta plotting its own money offering via crypto launch, NFTs and small business loans April 12, 2022 Meta, the owner of social media giant Facebook, is plotting to bring its own digital currency to the market, Zuck Bucks, named after its founder Mark Zuckerberg. In addition, the company is reportedly also looking to launch a number of traditional banking services, such as providing small business loans. Zuck Bucks will not be a [...]
Metaverse switch: Young people jump ship from Facebook and embrace virtual reality platform March 15, 2022 The metaverse could become a mainstream way to make friends and even date, with nearly a fifth of young people ready to ditch more conventional social media platforms. With more than a tenth having already made their own metaverse avatar, data from Zen Internet highlighted that 18 per cent of 16-24 year olds are already [...]
Big Tech face UK legal duty to prevent fraudulent scams online March 8, 2022 The government are set to introduce new legal duty on big tech to prevent paid-for fraudulent ads appearing on their services. The change will improve protections against fake ads, including where criminals impersonate celebrities or companies to steal people’s personal data, peddle dodgy financial investments or break into bank accounts. As part of the government’s [...]
Facebook and Twitter tell Ukrainian users to protect themselves against hacking February 25, 2022 Social media platforms Facebook and Twitter have warned Ukrainian users they may be vulnerable to hacking, after Ukraine experienced a series of cyberattacks in the wake of Russia’s invasion. In a tweet, former Lib Dem leader Nick Clegg, head of global affairs and communications at Facebook owner Meta said the firm would be monitoring its [...]
Tech giants prefer fines to compliance says EU’s Margrethe Vestager February 23, 2022 Some tech giants may prefer to pay a fine rather than comply, said the European Union's antitrust chief, citing Apple's recent battle with the Dutch courts.
Facebook ‘Reels’ goes global as it tries to keep up with TikTok and attract creatives February 22, 2022 Facebook has announced that it will be expanding the availability of its Reels for iOS and Android to more than 150 countries, widening the reach of its copycat TikTok feature. The Reels feature was first introduced at the end of last year and the tech firm’s new strategy hopes to help creators earn money from their Reels [...]
‘Meta, Metamates, me’: Mark Zuckerberg sets out order of importance and values for staff at Facebook and Instagram owner February 16, 2022 Mark Zuckerberg has set out a number of corporate values that employees at Facebook-owner Meta should adhere by. During a virtual company meeting yesterday, the Facebook founder introduced the catchphrase ‘Meta, Metamates, me’, according to reports in the Washington Post and on the Gizmodo website. The catchphrase reportedly sets out the order of importance by [...]
You are a claimant unless you opt out: £2.2bn damages claim filed against Facebook owner Meta on behalf of 45m Brits February 14, 2022 A multi-billion pound damages claim was filed late last night against Meta, formerly Facebook Inc., on behalf of UK Facebook users, for abusing its dominant market position by imposing unfair terms, prices and/or other trading conditions on users. This is the first UK case against Facebook to be filed at the Competition Appeal Tribunal (CAT) [...]
Mark Zuckerberg and team consider shutting down Facebook and Instagram in Europe if Meta can not process Europeans’ data on US servers February 10, 2022 If Meta is not given the option to transfer, store and process data from its European users on US-based servers, Facebook and Instagram may be shut down across Europe, the social media giants’ owner reportedly warned in its annual report. The key issue for Meta is transatlantic data transfers, regulated via the so-called Privacy Shield [...]