LONDON—Britain’s competition regulator said on Friday it had fined Facebook-owner Meta 1.5 million pounds ($2 million) over fresh issues regarding its purchase of Giphy, a sanction that the U.S. firm said it would accept. Britain’s Competition and Markets Authority (CMA) has taken a tough line with major tech groups in recent years, investigating their dominance…
This Day in Market History: Mark Zuckerberg Launches Facebook
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On Feb. 4, 2004, Mark Zuckerberg launched Facebook Inc. Where Was the Market? The S&P 500 was trading at 1,126.52 and the Dow Jones Industrial Average was at 10,470.74. What Else Was Going On in the World?…
Australian Mining Billionaire Launches Criminal Case Against Facebook
February 3, 2022
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Mining billionaire Andrew Forrest has launched criminal proceedings against social media giant Facebook for breaching Australia’s anti-money laundering laws, and for failing to deal with clickbait advertising for cryptocurrency. Forrest has launched two simultaneous actions, one in the Magistrates Court of Western Australia and the other in the Superior Court of California, County of San…
Facebook Market Cap Falls 26% in 24 Hours; Record High Car Prices Continue in 2022 | NTD Business
Shares of Facebook’s parent company, Meta, are still falling as we hear the closing bell. They’re down over 26 percent in just 24 hours. Experts say car prices will remain high this year. What’s driving up the cost and when can you catch a break? A new bill to counter China is moving forward in…
Facebook Loses Nearly $200 Billion, First Drop in Users in Company History
February 3, 2022
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Meta shares lost more than a fifth of its value as the company struggles to retain users, indicating the beginning of the end of an era where a handful of Silicon Valley CEOs controlled the flow of information across online platforms. Registering the first sequential loss of customers in the company’s 18-year history, Meta Platforms,…
Facebook Loses Nearly $200 Billion, 1st Drop in Users in Company History
February 3, 2022
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Meta shares have lost more than a fifth of their value as the company is struggling to retain users. Registering the first sequential loss of customers in the company’s 18-year history, Meta Platforms, earlier known as Facebook, dropped to 1.929 billion daily users from 1.93 billion users in the previous quarter. User growth across Whatsapp…
Shares of Facebook Parent Meta Plunge 23 Percent on Lower Profits
Newly renamed Meta is investing heavily in its futuristic “metaverse” project, but for now, relies on advertising revenue for nearly all its income. So when it posted sharply higher costs but gave a weak revenue forecast late Wednesday, investors got spooked—and knocked almost $200 billion off the valuation of the company formerly known as Facebook….
Orange County Authorities Warn of Car Theft Ring
SANTA ANA, Calif.—Orange County authorities Jan. 28 warned the public about a car theft ring that hooks victims through a Facebook ad. Investigators suspect the thieves are targeting the Latino community because they may be less inclined to report the con. The thieves post Spanish-language ads on Facebook Marketplace and other social media platforms ostensibly…
Google Versus Facebook: Tech Giants Back Rival Mobile Phone Operators in India
Alphabet Inc.-owned Google will invest up to $1 billion in India’s second largest telecom operator Bharti Airtel, two years after Mark Zuckerberg-led Facebook’s—now renamed as Meta Platforms Inc.’s—mega funding in Reliance Jio Platforms. What Happened The deal involves Google investing $700 million to buy a 1.28 percent stake in Airtel at a price of about $9.9 a…
Facebook Wins Conditional EU Antitrust Nod for Kustomer Deal
BRUSSELS—Facebook on Thursday secured EU antitrust approval for its acquisition of U.S. customer service startup Kustomer after agreeing to provide rivals free access to its messaging channels for 10 years. The European Commission said the pledge addressed competition concerns. Reuters reported last month that the world’s largest social network would gained conditional EU clearance for…
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