Facebook-Cambridge Analytica data breach lawsuit ends in 11th hour settlement

Posted on August 27, 2022 by Admin

Dramatic move shows Mark Zuckerberg ‘desperate to avoid being questioned over cover-up’, says Observer journalist who exposed scandal

Facebook has dramatically agreed to settle a lawsuit seeking damages for allowing Cambridge Analytica access to the private data of tens of millions of users, four years after the Observer exposed the scandal that mired the tech giant in repeated controversy.

A court filing reveals that Meta, Facebook’s parent company, has in principle settled for an undisclosed sum a long-running lawsuit that claimed Facebook illegally shared user data with the UK analysis firm.

Facebook agrees to settle Cambridge Analytica data privacy lawsuit

Posted on August 26, 2022 by Admin

The four-year-old case alleged that the company had violated consumer privacy laws by sharing users’ personal data with third parties

Meta’s Facebook has in-principle agreed to settle a lawsuit in the San Francisco federal court seeking damages for letting third parties, including Cambridge Analytica, access the private data of users, a court filing showed.

The financial terms were not disclosed in the filing on Friday that asked the judge to put the class action suit on hold for 60 days until the lawyers for both plaintiffs and Facebook finalize a written settlement.

Priti Patel urges Meta to give up on end-to-end encryption plans

Posted on August 22, 2022 by Admin

UK home secretary hits out at Facebook’s owner over move that could hinder child abuse investigations

Priti Patel has hit out at Facebook’s plans to encrypt direct messages, even as the company is facing criticism in the US for failing to protect the privacy of women seeking abortions.

The UK home secretary has urged Meta, which owns Facebook and Instagram, as well as WhatsApp, to give up on its intentions to apply “end-to-end encryption” to direct messages sent from Messenger and Instagram.

Tech company earnings reports expected to bring a flush of bad news

Posted on July 17, 2022 by Admin

Some US firms have announced hiring slowdowns and layoffs in recent weeks amid fears of recession

As top tech companies prepare to release their quarterly earnings reports starting next week, investors are bracing for bad news.

Several US tech companies have announced hiring slowdowns and layoffs in recent weeks, and the difficulties are expected to continue. “It’s not a great time for tech in general,” said Paul Verna, an analyst at Insider Intelligence, a market analysis firm. “There is no question that companies are going to be spending less, cutting back budgets, and maybe implementing hiring freezes. None of that is good news for the next quarter.”

Meta asks to be spared tighter rules in Australia, saying iPhone’s tracking blocker is hurting business

Posted on May 25, 2022 by Admin

Company tells consumer watchdog it is set to lose $10bn this year in wake of Apple iOS feature hampering ability to collect user data

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Meta says Apple’s decision to allow users to stop apps tracking them on their phones has diminished Facebook’s advertising market power, and therefore the social media giant should not face further regulation in Australia.

In mid-2021 Apple rolled out a new feature in iOS 14.5 called “app tracking transparency” which asks for users’ consent before an app can track their activity across websites and apps, and allows users to opt out of the tracking at any time.

Brazil military ‘posed as NGOs on social media’ to play down deforestation

Posted on April 7, 2022 by Admin

Facebook owner Meta removes network from social media in move which could damage President Jair Bolsonaro

Facebook owner Meta Platforms has removed a network of social media accounts with ties to the Brazilian military that posed as fake non-profits to play down the dangers of deforestation.

The comments by Meta, published in a quarterly report, pose a reputational risk to Brazil’s President Jair Bolsonaro. The far-right former army captain is a longtime sceptic of environmentalism.

Facebook a no-show in Andrew Forrest criminal case arguing West Australian court lacks jurisdiction

Posted on March 28, 2022 by Admin

Mining billionaire alleges social media giant failed to stop clickbait advertising scams using his image on its platform

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Facebook believes an Australian court has no jurisdiction to hear a criminal case brought against it by mining magnate Andrew Forrest – who claims the tech giant failed to stop clickbait advertising scams using his image.

The case in the magistrates court of Western Australia is believed to represent the first time Facebook – owned by Meta Platforms – has faced criminal charges.

Trolls and traffickers target Facebook group for Ukrainian refugees

Posted on March 21, 2022 by Admin

Technology firm should help spot Russian-based users, says founder of group matching up with UK hosts

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One of the largest Facebook groups matching Ukrainian refugees with UK host families has warned of the dangers of infiltration posed by Russian trolls and traffickers.

Room for Ukrainians in the UK is a Facebook group that was set up little over two weeks ago and already has 12,500 members. Most of those posting are Ukrainians in need of sponsors and British people who want to open their homes to the new arrivals.

‘Every move scrutinized’: Facebook’s rocky road to the metaverse

Posted on February 13, 2022 by Admin

The CEO has changed the world – but he faces regulatory, technological and branding troubles in his push to do it again

It would hardly be hyperbole to say that since its founding in 2004, Facebook has taken over the world – counting more than 50% of the global population as its user base. But after years of domination built on advertising revenue, the company has nearly overnight tried to knock down that empire and build anew.

In October 2021, more than 15 years and 2.8 billion users after the then student Mark Zuckerberg launched the social media platform from his college dorm, Facebook announced it had become “Meta” and was refocusing on the company’s virtual reality endeavors.

Peter Thiel, PayPal founder and Trump ally, to step down from Meta board

Posted on February 7, 2022 by Admin

Thiel, a major donor to the Republican party, was seen by critics as part of the reason why Facebook did not censor Trump

Peter Thiel, the co-founder of PayPal and Palantir Technologies, is stepping down from the board of Facebook’s parent company, Meta, after 17 years.

Thiel, Facebook’s longest-serving board member and a major donor to the Republican party, plans to focus on backing Donald Trump’s allies in the November midterm elections, according to the New York Times. He recently donated $10m each to the Senate campaigns of Blake Masters, who is running for a seat in Arizona, and JD Vance, who is running in Ohio. Masters is the chief operating officer of Thiel’s family office and Vance used to work at one of Thiel’s venture funds.

Facebook suffers $230bn wipeout in biggest one-day US stock plunge

Posted on February 3, 2022 by Admin

Shares in parent company Meta fall 26.4% on Thursday
Mark Zuckerberg’s personal wealth tumbles by $30bn-plus

A historic plunge in the stock price of Facebook’s parent company has erased more than $230bn in its market value, easily the biggest one-day loss in history for a US company.

The 26.4% wipeout in Meta comes amid concerns about its future after the company reported its first ever drop in daily user numbers in its Wednesday earnings report. Facebook rebranded to Meta last year as part of its strategic pivot to becoming a virtual-reality based company. The company’s advertising model has also been hit hard by privacy changes at Apple, which Facebook has said it expects will cost them billions.

Mark Zuckerberg says Meta is building the world’s fastest supercomputer

Posted on January 24, 2022 by Admin

Facebook founder’s planned metaverse, blending reality with digital experiences, will require enormous computing power

Mark Zuckerberg has announced his social media empire is building what he claims is the world’s fastest artificial intelligence supercomputer as part of plans to build a virtual metaverse.

The Facebook founder said in a blogpost that the metaverse, a concept that blends the physical and digital world via virtual and augmented reality, will require “enormous” computing power. The AI supercomputer, dubbed AI Research SuperCluster (RSC) by Zuckerberg’s Meta business, is already the fifth fastest in the world, the company said.

Roundup Newswires

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Category Archives: Meta

Facebook agrees to settle Cambridge Analytica data privacy lawsuit

Tech company earnings reports expected to bring a flush of bad news

Meta asks to be spared tighter rules in Australia, saying iPhone’s tracking blocker is hurting business

Facebook a no-show in Andrew Forrest criminal case arguing West Australian court lacks jurisdiction

Facebook suffers $230bn wipeout in biggest one-day US stock plunge

Mark Zuckerberg says Meta is building the world’s fastest supercomputer