Google has grave reservations about developing a self-regulatory body in India for the social media sector to hear user complaints, though the proposal has support from Facebook and Twitter, sources with knowledge of the discussions told Reuters. India in June proposed appointing a government panel to hear complaints from users about content moderation decisions, but […]
Meta
Facebook-parent Meta Platforms Inc is set to raise $10 billion in its first-ever bond offering on Thursday, as it looks to fund share buybacks and investments to revamp its business, according to two sources close to the deal. The offering, which included bonds with maturities ranging from five years to 40 years, received over $30 […]
Stiff competition from TikTok and Apple Inc’s privacy changes will remain a cause for concern for Facebook-owner Meta Platforms Inc in the near term, Wall Street analysts said. At least 16 brokerages cut their price targets on Meta after the company reported its first-ever quarterly revenue drop on Wednesday, highlighting challenges faced by U.S. companies […]
Meta Platforms Inc issued a gloomy forecast after recording its first ever quarterly drop in revenue on Wednesday, with recession fears and competitive pressures weighing on its digital ads sales. Shares of the Menlo Park, California-based company were down about 4.6 percent in extended trading. The company said it expects third-quarter revenue to fall to […]
Big tech companies agreed on Monday to reduce harmful online content in New Zealand, making a move that critics said dodged the alternative of government regulation. Meta Platforms Inc, Alphabet-owned Google, TikTok, Amazon.com Inc and Twitter had signed a code of practice, said Netsafe, a government-funded internet-safety group. The companies would follow the code as […]
On Feb. 2, when Meta Platforms reported Facebook’s first-ever quarterly drop in daily users, its finance chief identified higher mobile data costs as a unique obstacle slowing growth in India, its biggest market. On the same day, the U.S. tech group posted the findings of its own research into Facebook’s business in India on an […]
Facebook owner Meta Platforms Inc was hit with a trademark lawsuit in Manhattan federal court on Tuesday by MetaX LLC, a company that creates immersive virtual-reality experiences, for allegedly stealing its name for its pivot to the metaverse. New York-based MetaX told the court it had been “crushed” by Facebook’s rebrand and said its “ability […]
As a virtual world, the Metaverse is bound to witness such inappropriate occurrences. Again, I need to highlight this one more time; the issue is not really the Metaverse here; it is more the people using it and the companies developing it and their inability to protect their users. Sexual abuse in the Metaverse cannot […]
Facebook-owner Meta Platforms Inc has cut plans to hire engineers by at least 30 percent this year, CEO Mark Zuckerberg told employees on Thursday, as he warned them to brace for a deep economic downturn. “If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in […]
Meta, Microsoft and other tech giants racing to build the emerging metaverse concept have formed a group to foster development of industry standards that would make the companies’ nascent digital worlds compatible with each other. Participants in the Metaverse Standards Forum include many of the biggest companies working in the space, from chip makers to […]