Facebook Inc. said on Monday it will start publishing the financial results of its augmented and virtual reality labs as a separate unit, where it is investing billions in its ambitions to build the “metaverse” and as it reported that its main advertising business faces “significant uncertainty.” Facebook, which reported third-quarter profit up 17 percent,…
Facebook Invests Billions in Metaverse Efforts as Ad Business Slows
October 26, 2021
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Senators Put YouTube, TikTok, Snap on Defensive on Kids’ Use
October 26, 2021
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WASHINGTON—Senators put executives from YouTube, TikTok, and Snapchat on the defensive Tuesday, questioning them about what they’re doing to ensure young users’ safety on their platforms. Citing the harm that can come to vulnerable young people from the sites—ranging from eating disorders to exposure to sexually explicit content and material promoting addictive drugs—the lawmakers also…
Senators Put YouTube, TikTok, Snap on Defensive on Children’s Use
October 26, 2021
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Business & EconomyCompaniescongressexecutivesMedia & Big TechPoliticsSenatorsSNAPSocial IssuesSocial MediaTechTech NewsTikTokUSUS NewsYouTube
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WASHINGTON—Senators put executives from YouTube, TikTok, and Snapchat on the defensive Tuesday, questioning them about what they’re doing to ensure young users’ safety on their platforms. Citing the harm that can come to vulnerable young people from the sites—ranging from eating disorders to exposure to sexually explicit content and material promoting addictive drugs—the lawmakers also…
CEO Mark Zuckerberg Addresses Leak of Thousands of Facebook Documents
Facebook CEO Mark Zuckerberg responded Monday to the release of thousands of company documents recently leaked by whistleblower Frances Haugen, saying large companies “should be scrutinized” and arguing that the leaked documents could be used to “paint a false picture” of the company. The statement noted the company’s brands—that include Facebook, Instagram, and WhatsApp, among…
BBC Should Be Partly Privatised: UK Taxpayers’ Alliance
The TaxPayers’ Alliance (TPA), a UK pressure group campaigning for a low-tax society, has called for the part privatisation of the BBC and the scrapping of the “outdated” licence fee. In a new report (pdf) released on Tuesday, the TPA said that “a part privatisation of the BBC would abolish the outdated licence fee and…
S&P, Dow Futures Hit Record Highs as Investors Eye Tech Earnings
October 26, 2021
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The S&P 500 and Dow futures hit record highs on Tuesday as Facebook rose after its quarterly results and a share buyback plan, turning the spotlight on its technology peers set to report later in the day. Facebook Inc. rose 2.5 percent in premarket trading even as the social media giant warned that Apple Inc.’s…
Stocks Across the World Buoyant on Upbeat Earnings
October 26, 2021
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LONDON/HONG KONG—Shares made slim gains around the world on Tuesday, with upbeat corporate earnings buoying European shares and outweighing recurring worries about China’s property sector. The broad Euro STOXX 600 hit its highest in seven weeks, adding 0.5 percent, with German stocks gaining 0.9 percent. After a stellar quarter for U.S. and British banks, Switzerland’s…
EU Tech Rules Should Curb Cloud Computing Providers, Study Says
BRUSSELS—Draft EU rules to curb the power of Amazon, Apple, Alphabet unit Google and Facebook should also tackle providers of cloud computing services for possible anti-competitive practices, a study said on Tuesday. The report comes amid concerns that some EU lawmakers who are reviewing the Digital Markets Act (DMA) proposed by EU antitrust chief Margrethe…
5 Technology Stocks to Watch Ahead of Earnings This Week
The week of Oct. 25 is shaping up to be a big one for anyone that holds index funds or has exposure to technology stocks. Five of the largest and most well-known names in the technology space report earnings this week. Here are the key figures and items investors should be watching. Facebook Facebook Inc….
Pennsylvania Considers Bill That Would Allow Residents to Sue Big Tech Over Censorship
October 25, 2021
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Two Pennsylvania state senators are seeking to pass a bill that would allow residents to sue social media companies that censor their content based on political or religious views. Sens. Doug Mastriano (R-Gettysburg) and Scott Hutchinson (R-Oil City) sponsored state Senate Bill 604 (pdf), called the Social Media Accountability Act, that would allow individuals the…
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