Meta sells Giphy to Shutterstock to comply with UK regulator order May 23, 2023 Shutterstock said today it would buy animated-images platform Giphy from Meta for $53m in cash, months after the Facebook owner had agreed to divest the company on competition concerns. Britain’s competition regulator last year ordered Meta to sell Giphy over fears that it could deny or limit competitors such as Snapchat and Twitter access to the target’s content. Meta had [...]
Meta slapped with whopping £1bn fine over Facebook data breach May 22, 2023 Meta, the owner of Instagram, Facebook and Whatsapp, has been slapped with a record €1.2bn (£1bn) fine by the Ireland's data protection agency over its transfer of European users’ Facebook data to its US server.
Instagram back online this morning after global outage left everyone scrolling without luck May 22, 2023 Instagram was restored online after experiencing global outages, the social media company said. Down Detector, a website that tracks outages, reported 56,628 reports at around 11pm on Sunday. The Down Detector location map showed the outages spread across the UK with reports of outages coming from the US and Australia as well. Instagram said at [...]
Meta: Why is Facebook, WhatsApp and Instagram owner facing a record fine from the EU? May 22, 2023 Meta will face a record fine over its transfer of European users’ Facebook data to its US server. The fine, according to reports in Sky News, is expected to be handed to the social media giant this morning by Ireland’s Data Protection Commission (DPC), as it orders Meta to stop using “complex legal instruments” to [...]
Analysis: Big tech beats forecasts – but they’re not out of the woods yet April 28, 2023 Meta, Microsoft, and Google’s parent, Alphabet, Amazon all showed signs of resilience this week after a bruising period for the tech sector. After many US tech firms laid off thousands of staff in response to low growth and inflationary pressures, each of these leading tech giants reported quarterly revenues and profits that beat analyst estimates, [...]
WPP chief says use of AI in advertising is an ‘opportunity’ not a threat April 27, 2023 Contrary to some commentators’ fears, chief of WPP Mark Read has called artificial intelligence a “massive opportunity to optimise creative” work rather than representing a threat. Speaking to the Financial Times, Read revealed the advertising giant has already been using artificial intelligence and automation to “amplify” its creative work for some years. He added that [...]
Facebook owner Meta touts AI might as digital ads boost outlook April 27, 2023 Meta Platforms CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations. Meta shares surged 12 per cent in after hours trading, adding over $50bn (£40.06bn) to its market value and continuing a rally [...]
Regulation set to challenge the ‘dominance’ of tech giants Google, Amazon and Facebook April 25, 2023 Plans to toughen up UK regulation of some of the world’s largest tech companies will go before MPs for the first time, with the competition watchdog’s dedicated digital unit set to be given sharper teeth. New laws to regulate big tech firms, such as Google, Amazon and Meta, have been long awaited, with MPs last [...]
Instagram to relocate staff and chief from London to New York April 20, 2023 Instagram is trimming or shifting some of its London-based staff to New York, as overhauls and layoffs continue to hit the tech sector. The photo app — owned by Meta — is asking UK-based workers to make the move after growing its London base and moving its leader, Adam Mosseri, to the UK last year. [...]
Unfriended: Facebook owner Meta to cut 10,000 job and close of 5,000 vacancies as tech crunch continues March 14, 2023 Facebook owner Meta will sack 10,000 of its staff and close 5,000 vacancies as the tech sector continues to slim down in a bid to cut losses. In a post on facebook, CEO Mark Zuckerberg made the announcement, saying it was being done with a view to both helping it “improve our financial performance” and [...]