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NAS:FB, Jan 20, 08:37 UTC

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Facebook's Making a Big Change to Its Plans to Monetize WhatsApp

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Facebook's Making a Big Change to Its Plans to Monetize WhatsApp | NASDAQ. The company is still holding the potential for ads in Status in its back pocket, but there's no longer a timeline for the feature's release. After acquiring the messaging app for $19 billion in 2014, investors may be wondering how Facebook plans to make money from the service now that it's grown to over 1.5 billion users. Instagram is a place where users practically broadcast their interests. And while Facebook may be able to use existing user data from its other apps for some, many WhatsApp users haven't connected their Facebook accounts to their WhatsApp accounts. So, the potential for WhatsApp Status ads might not be too high -- maybe $1 billion or $2 billion in annual revenue built up over the next few years.

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Judge: Facebook must provide info sought by Massachusetts AG

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BOSTON (AP) - Facebook must turn over information to the Massachusetts attorney general’s office regarding thousands of apps that the social media company suspects of misusing users’ data, a judge decided. The order issued by Suffolk Superior Court Judge Brian Davis on Friday stated that Facebook has refused to turn over information about specific apps, groups of apps and developers that the platform has flagged as potentially problematic or worthy of further examination. Massachusetts Attorney General Maura Healey launched an investigation in March 2018 following revelations that data mining firm Cambridge Analytica used ill-gotten data from millions of Facebook users through an app, then used the data to try to influence U.S. elections. In response to the scandal, Facebook began looking into the apps that have access to its users’ data.

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Saturday, January 18


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Social Shopping Is Taking Off, and Facebook Is the Biggest Beneficiary

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Jan 18, 2020 3:00PM EST. Social Shopping Is Taking Off, and Facebook Is the Biggest Beneficiary | NASDAQ. Much of that growth seems to be driven by Facebook(NASDAQ: FB), which continues to invest in its Marketplace platform and shopping on Instagram, and is also working on a nascent mobile payments platform in WhatsApp. Instagram, in particular, with the introduction of Checkout, new features in the Explore tab, and the ever-expanding presence of "influencers," has had a big influence on shopping habits. While other social media platforms like Snap's (NYSE: SNAP) Snapchat and Pinterest(NYSE: PINS) have tried to edge their way into consumers' shopping patterns, Facebook has been the biggest beneficiary so far. "We are optimistic on the timeframe of years, right, not driving next quarter's business," Zuckerberg said on Facebook's third quarter earnings call. And with just 23% of social media users actually shopping directly in apps like Facebook and Instagram, there's good reason to take the approach of expanding the reach of its products instead of trying to monetize them quickly.

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Facebook apologises after vulgar translation of Chinese leader's name

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Facebook apologises after vulgar translation of Chinese leader's name. YANGON (Reuters) - Facebook Inc (FB.O) said on Saturday it was working to find out how Chinese leader Xi Jinping’s name appeared as “Mr Shithole” in posts on its platform when translated into English from Burmese, apologising for any offence caused and saying the problem had been fixed. The error came to light on the second day of a visit by the president to the Southeast Asian country, where Xi and state counsellor Aung San Suu Kyi signed dozens of agreements covering massive Beijing-backed infrastructure plans. “We are aware of an issue regarding Burmese to English translations on Facebook, and we’re doing everything we can to fix this as quickly as possible,” a spokesperson for the tech company said in a statement.

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Facebook translating Chinese president Xi Xinping's name to 'Mr S***hole'

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The error is occurring on the official Facebook page of Myanmar leader Aung San Suu Kyi, in a post that recounted her meeting with Mr Xi during his state visit to Myanmar. Originally written in Burmese, Facebook's translation into English refers to Mr Xi as "Mr Sh*thole" six separate times. "Consultant Daw Aung San Suu Kyi is friendly. And the president of China, Mr Sh*thole, signed a guest record of the house of representatives." Facebook did not immediately respond to a request for comment and the issue had not been addressed at the time of writing. The social network relies on human and automated moderators to fix incorrect content, as well as reports from its users.

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Friday, January 17


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Michigan governor urges broader Facebook crackdown on hate speech, citing attacks on state's lawmakers

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(Reuters) - Michigan's Democratic governor has urged Facebook Chief Executive Mark Zuckerberg to step up efforts to check hate speech on the social network and protect the security of elections, citing attacks on legislators from the state. "Of late, hundreds of vitriolic, sexist and violent posts on Facebook have called for violence against Muslims and Michigan legislators," Governor Gretchen Whitmer wrote to Zuckerberg in a letter she also shared on Twitter on Friday. "For example, users have called for certain female, congressional leaders from my state to be 'burned and raped,' needing of a 'bullet between her eyes,' or instead, just 'set ... on fire," she said. "Facebook prohibits hate speech and anything that incites or advocates for violence. While we take action against this type of content - in most cases before it’s reported - even a single piece that’s posted is too many. We appreciate Governor Whitmer bringing this to our attention," the statement said.

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Facebook must disclose app records for Massachusetts probe, judge rules

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(Reuters) - Facebook Inc has been ordered by a Massachusetts judge to turn over materials to that state's attorney general about thousands of apps that the social media company suspected may have misused customer data. In a decision made public on Friday, Massachusetts Superior Court Justice Brian Davis said Attorney General Maura Healey had demonstrated a "substantial need" for the materials, as she investigates Facebook's privacy practices. Healey began her probe in March 2018, following news that Facebook had let British political consulting firm Cambridge Analytica access data for as many as 87 million users. Davis said Facebook did not show that most of the materials Healey sought, including the identities of developers behind suspect apps, were protected by attorney-client privilege or were attorney "work product" and did not need to be disclosed.

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Should Facebook Investors Respond More to Antitrust Concerns?

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| NASDAQ. If you're anything like me, then you're tired of news outlets reporting on Facebook(NASDAQ: FB) data and privacy scandals like this-is-the-one-that's-actually going-to-have-a-long-term-effect-on-the-company. The coming tech probe of Silicon Valley is focused on antitrust, but those in-the-know know the heat is coming down on Facebook because of its ability to avoid meaningful punishment on data privacy. The company's recent push to consolidate and share data from its three major platforms – Facebook, Instagram and WhatsApp – actually ticks off possible antitrust and data privacy boxes. Facebook and friends definitely don't make it easy to understand the rights that you have, if any are even left after you get done signing over your soul. Unless regulators make it a point to distill data privacy rights through a layman's filter, investors probably have little to worry about from any new Facebook scandal.

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Lessons to be learned from Facebook's WhatsApp deal, French watchdog says

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Lessons to be learned from Facebook's WhatsApp deal, French watchdog says. PARIS, Jan 17 (Reuters) - Facebook's $22 billion buyout of WhatsApp six years ago should have been blocked, the boss of France's antitrust watchdog, which is set to help review EU rules, has told Reuters. France's antitrust watchdog, which recently fined search engine Google 150 million euros ($167 million) for opaque advertising rules, will take part in the regulatory overhaul led by commissioner Margrethe Vestager. European firms face mounting dominance by U.S. and Chinese companies in social media, online search and e-commerce. But de Silva said she was not calling for a break-up of America's biggest technology companies.

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Facebook sued in U.S. federal court for alleged anticompetitive conduct

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Facebook sued in U.S. federal court for alleged anticompetitive conduct. SAN FRANCISCO (Reuters) - Four companies sued Facebook Inc (FB.O) in U.S. federal court on Thursday for alleged anticompetitive conduct, saying the social network inappropriately revoked developer access to its platform in order to harm prospective competitors. "Facebook faced an existential threat from mobile apps, and while it could have responded by competing on the merits, it instead chose to use its might to intentionally eliminate its competition," said Yavar Bathaee, a partner at law firm Pierce Bainbridge and co-lead counsel in the case. The filing is an escalation of Facebook's battles with small app developers that had built companies based on access to its user data.

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