Meta Platforms Inc shares closed about 23% higher on Thursday and helped spark a rally in the technology sector after the Facebook owner floored Wall Street by slashing its spending forecast and boosting its stock buyback plan by $40 billion. The company added more than $90 billion to its market value and the stock logged […]

Digital Ads Market Not Out of the Woods

After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet, Meta Platforms and Snap showed they were not yet in the clear. The health of the advertising industry closely mirrors the economy, and many advertisers have pared back their marketing budgets in response to […]

Davos 2023

The author who first envisioned the metaverse 30 years ago sat down on Wednesday with a top executive from the company investing billions in building it and agreed there were formidable hurdles to bringing it to the masses. Neal Stephenson, who coined the term in his 1992 novel “Snowcrash”, and Chris Cox, the chief product […]

Whatsapp Pursue ‘Pegasus’

The U.S. Supreme Court on Monday let Meta Platforms Inc’s WhatsApp pursue a lawsuit accusing Israel’s NSO Group of exploiting a bug in the WhatsApp messaging app to install spy software allowing the surveillance of 1,400 people, including journalists, human rights activists and dissidents. The justices turned away NSO’s appeal of a lower court’s decision […]

Meta Accused in Lawsuit

Meta Platforms was accused in a lawsuit filed in Kenya on Wednesday of letting violent and hateful posts from Ethiopia flourish on Facebook, inflaming the Ethiopian civil war. The lawsuit, filed by two Ethiopian researchers and the Kenya’s Katiba Institute rights group, alleges that Facebook’s recommendations systems amplified violent posts in Ethiopia, including several that […]

Future of Virtual Reality

The Biden administration on Thursday accused Meta Platforms Inc of trying to buy its way to dominance in the metaverse, kicking off a high-profile trial to try to prevent the Facebook parent from buying virtual reality app developer Within Inc. The FTC sued in July to stop the deal, saying Meta’s acquisition of Within would […]

Meta’s share price collapse

Meta’s share price is collapsing, and the social media giant is on a major downturn. The thus far ruling social media giant of our time, the owner of Instagram, Facebook, and WhatsApp, is experiencing the worst 2 consecutive quarters  of its existence. The Meta stock has collapsed and users are still fleeing the platforms, meanwhile […]

Corporate America Braces for Downturn With Job Cuts

Meta Platforms Inc on Wednesday became the latest U.S. company to cut jobs to rein in costs amid tightening monetary policy and growing fears of a recession. Job cuts announced by U.S.-based employers jumped 13 percent to 33,843 in October, the highest since February 2021, a report said. Here are some of the major job […]