The European Union has imposed a €798 million ($840 million) fine on Meta Platforms for what it described as antitrust violations linked to Facebook Marketplace. According to the European Commission, Meta breached EU competition laws by tying Facebook Marketplace, its online classified ads service, to its dominant social networking platform, Facebook. The company was also…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has reportedly dismissed several employees for violating its meal voucher policy. Workers allegedly used the vouchers, intended for meals, to purchase non-food items such as toothpaste and washing powder, according to sources who claim to be current or former Meta employees. The company provides staff with…
Meta, the parent company of Facebook, has been ordered by the European Union’s highest court to reduce its use of individuals’ data for personalised advertising, marking a major victory for privacy advocates. The Court of Justice of the European Union (CJEU) ruled in favour of privacy campaigner Max Schrems, who accused Facebook of misusing personal…
Meta announced on Friday that it would lift the restrictions on former President Donald Trump’s Facebook and Instagram accounts in anticipation of the upcoming Republican National Convention. The decision ensures Trump, the leading Republican candidate for the 2024 presidential election, will have equal social media access alongside Democrat President Joe Biden. “In assessing our responsibility…
Families of Uvalde Victims File Wrongful Death Lawsuits Against Call of Duty Publisher, AR-15 Maker, and MetaThree major companies are facing wrongful death lawsuits linked to the 2022 Uvalde school shooting, with complaints filed in California and Texas. The lawsuits, brought by families of the victims, claim that Meta, Activision, and Daniel Defense played roles…
The European Union has initiated a formal investigation into Meta, the parent company of Facebook and Instagram, over concerns that its platforms may be too addictive for children and fail to provide adequate protection. This move underscores the growing regulatory focus on the potential harms of social media on young users. The European Commission, the…
Meta, formerly known as Facebook, is stepping into the classroom with its virtual reality (VR) technology, aiming to revolutionize education through immersive experiences. This initiative, spearheaded by Meta’s President of Global Affairs Nick Clegg, promises to reshape traditional learning methods and bring students into digital worlds previously unimaginable. The company’s upcoming software for educators, designed…
The European Union has initiated investigations into tech giants Apple, Google, and Meta, the parent company of Facebook, over suspicions of non-compliance with the newly implemented Digital Markets Act (DMA), aimed at fostering competition in digital services. European Commissioner Thierry Breton stated that the European Commission has raised concerns regarding practices by the three companies…
In a bold move, Meta’s CEO Mark Zuckerberg has publicly criticized rival company Apple’s latest headset, the Vision Pro, asserting that Meta’s own offering, the Quest 3, is superior in multiple aspects. The Vision Pro garnered attention as celebrities like Diplo and T-Pain sported it in public, showcasing its “passthrough” feature, enabling users to view…
Meta, the parent company of Facebook and Instagram, has taken action to remove the social media accounts belonging to Iran’s Supreme Leader, Ayatollah Ali Khamenei. The decision to disable Khamenei’s accounts comes after Meta cited repeated violations of its Dangerous Organizations & Individuals policy. According to Meta, this policy prohibits the presence of organizations or…
In a financial whirlwind, Meta’s founder and CEO, Mark Zuckerberg, experienced a staggering increase of more than $28 billion in his net worth within a single morning. Zuckerberg, already valued at over $140 billion according to Bloomberg’s billionaire index, witnessed this colossal surge as Meta’s stock reached unprecedented heights. The surge came on the heels…
Tech giant Meta experienced a substantial stock surge of over 14% in after-hours trading on Thursday following its robust quarterly earnings report, surpassing Wall Street expectations and marking a remarkable turnaround from its self-declared “year of efficiency.” The company reported profits exceeding $14 billion for the three months ending in December, reflecting a remarkable 200%…
In a recent Instagram post, Meta CEO Mark Zuckerberg revealed the company’s strategic move to heavily invest in Nvidia hardware and other artificial intelligence (AI) initiatives before the close of 2024. Zuckerberg outlined Meta’s commitment to advancing open-source artificial general intelligence (AGI) capable of supporting a wide array of applications, from productivity and development to…
In a recent legal saga, Meta, the parent company of Facebook, finds itself entangled in a lawsuit filed by a group of authors who allege that the tech giant employed copyrighted material, including the infamous Books3 dataset, in training its Llama 1 and Llama 2 large language models. While Meta has admitted to utilizing the…
Meta, the parent company of Facebook, exceeded expectations on Wall Street as it reported impressive earnings for the third quarter of 2023. The success comes as Meta’s “year of efficiency” strategy continues to deliver strong results, and it’s reported that the company has largely completed the cost-cutting measures put in place in response to a…
Exciting news for Threads users as the popular app announces the launch of its highly anticipated web version on Tuesday. This move comes as a response to the most fervently requested feature by users since Threads’ initial mobile-only release last month. With this update, Threads takes a significant step towards replicating the functionalities offered by…
The clock is ticking for all individuals who have held a Facebook account in the United States over the past 16 years. With approximately one week left, the opportunity to seek compensation in a significant data privacy settlement case is rapidly drawing to a close. In a notable resolution, Meta, the parent company of Facebook,…
Meta, the parent company of social media giants Facebook and Instagram, has taken steps to comply with recently passed legislation in Canada that requires tech companies to negotiate payments to news organizations for hosting their content. In response to this new law, Meta has started removing news content from its platforms in Canada. Canadian users…
On Wednesday, Meta, the parent company of Facebook, released its financial results for the second quarter ending in June, surpassing Wall Street’s expectations. The company reported a revenue of $32 billion, an 11% increase compared to the same period last year. Additionally, Meta’s profits for the quarter reached $7.79 billion, marking a 16% increase from…
Meta’s Twitter competitor, Threads, has introduced a significant update to the app, aiming to maintain its momentum since its launch two weeks ago. The latest features include a translation button and a dedicated tab in users’ activity feed, showing who has followed them. Cameron Roth, a software engineer working on Threads, announced the updates, assuring…
Comedian Sarah Silverman and authors Christopher Golden and Richard Kadrey have filed separate lawsuits against Meta and OpenAI, alleging that the companies used copyrighted materials from their books to train their AI language models without permission. The lawsuits were filed in a San Francisco federal court and seek class action status.Concerns have been raised about…
In less than 48 hours, Meta’s Twitter rival Threads has gained over 70 million sign-ups, prompting concerns about the accumulation of power for Meta and CEO Mark Zuckerberg, as some users worry about a potential monopoly. The success of Threads can be attributed to the dissatisfaction with Elon Musk’s ownership of Twitter and the integration…
Meta, the parent company of Facebook, has launched its latest app, Threads, in a direct challenge to Twitter’s real-time conversation space. The app, which bears many similarities to Twitter in terms of layout and features, aims to provide a platform for real-time conversations and connecting with like-minded people. Meta CEO Mark Zuckerberg expressed his vision…
The rivalry between Mark Zuckerberg and Elon Musk escalates as Zuckerberg’s Meta teases Threads, a new app challenging Twitter’s real-time conversation space, set to launch on Thursday.Threads, resembling Twitter, emphasizes conversations, building a following, and connecting with like-minded people, according to the App Store description. The App Store description of the app offers a clear…
In response to the increasing demand for transparency in artificial intelligence, Meta has unveiled a range of tools and information designed to help users understand how AI influences the content they see on its apps. The social media giant has introduced nearly two dozen explainers that focus on various features of its platforms, including Instagram…
Facebook-parent Meta has announced its plans to lower the minimum age requirement for its virtual reality headsets, allowing children as young as 10 years old to use the devices. This decision comes despite pressure from lawmakers who have urged the company not to market VR services to younger users. In a blog post, Meta stated…
Fool.com contributor and finance professor Parkev Tatevosian compares Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Meta Platforms (NASDAQ: META) to determine which growth stock is better for long-term investors. This video was originally published on the Parkev Tatevosian, CFA YouTube channel
Days after Apple unveiled its $3,499 mixed reality headset, Meta CEO Mark Zuckerberg took a veiled swipe at the company’s pricing and product vision. Speaking at an all-hands meeting with Meta employees, Zuckerberg contrasted Apple’s demos of a person sitting alone on a couch with Meta’s focus on active engagement through its Quest VR headset…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has joined the growing trend of tech companies calling their employees back to the office after more than three years of flexible work-from-home policies prompted by the COVID-19 pandemic. The company has announced that employees currently assigned to an office will be required to return to…
Facebook-parent company Meta has begun implementing layoffs within its business groups, as confirmed by social media posts from affected employees. Workers in operations, project management, marketing, policy, communications, and risk analytics took to LinkedIn to announce their layoffs. While Meta declined to confirm the ongoing reductions, a spokesperson referred to CEO Mark Zuckerberg’s March blog…
Meta, formerly known as Facebook, has been hit with a record €1.2bn fine by the Irish Data Protection Commission for breaching the European Union’s privacy regulations. The company was found to have violated the General Data Protection Regulation (GDPR) by transferring personal information of European Facebook users to the US without adequate safeguards against US…
Meta Platforms (META) stock rose more than 14% on Thursday after the company reported first quarter results late Wednesday that blew away expectations while raising its forecast for the current quarter and lowering its expense outlook. As reported on Yahoo Finance, at $239, shares of the Facebook and Instagram parent company are trading at their…
Meta is to cut hundreds of jobs in London and scrap Instagram’s hub in the city as part of widespread cost-cutting measures as the social media giant wrestles with a slump in advertising revenues amid harsher economic conditions. As reported on Evening Standard, the firm will sack as many as 687 staff, representing around 10%…
Meta, which owns Facebook, Instagram and WhatsApp, has announced plans to cut 10,000 jobs. As reported on BBC, this marks the second wave of mass redundancies from the tech giant, which laid off 11,000 employees last November. Meta chief executive Mark Zuckerberg said the cuts – part of a “year of efficiency” – would be…
Meta is testing a subscription service which will allow Instagram and Facebook users to pay to get verified, Mark Zuckerberg announced on Instagram. “Meta Verified” will start at $11.99 a month on the web or $14.99 a month on iOS, and the company will begin releasing it in Australia and New Zealand this week and…
Meta, which owns Facebook, Instagram and WhatsApp, has announced that it will cut 13% of its workforce. As reported by BBC, the first mass lay-offs in the firm’s history will result in 11,000 employees, from a worldwide headcount of 87,000, losing their jobs. Meta chief executive Mark Zuckerberg said the cuts were “the most difficult…
