Tag: FACEBOOK

EU fines Meta $840m for ‘abusive’ Facebook ad practices

Aminu Imam
EU fines Meta

The European Commission, (EU), yesterday fined online giant, Meta almost 800 million Euros for breaching anti-trust rules by giving users of its Facebook social network automatic access to classified ads service, Facebook Marketplace. According to the EU, the US tech titan also abused its dominant position by imposing unfair trading conditions on other online classified ads service providers that advertise on its platforms. In an issued statement, the bloc’s Competition Chief, Margrethe Vestager said, “This is illegal under EU antitrust rules. Meta must now stop this behaviour”. Meta said it…

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ARCON sues Facebook $44m for violating Nigerian advertising laws

Aminu Imam

The Advertising Regulatory Council of Nigeria (ARCON) has filed a N30 billion ($44 million) lawsuit against Meta Platforms Incorporated (Owners of Facebook, Instagram and WhatsApp), alleging that the company has violated Nigerian advertising laws by running unvetted ads on its Facebook and Instagram platforms. ARCON claims that Meta’s failure to vet ads has led to the publication of indecent and misleading ads, harming Nigerian consumers and damaging the country’s advertising industry. The regulator is also seeking damages for the loss of revenue to the Nigerian government. Meta has denied the…

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Journalist arrested, more than 80 media workers detained in Iran

Abdul-Azeez Ahmed Kadir

The head of the political editorial department at the reformist newspaper Etemad has been arrested in Iran, the paper reported on Friday, citing his wife. Mehdi Beyk was arrested on Thursday and his mobile phone and notebook confiscated. In recent weeks, numerous Iranian journalists have been detained as part of a wave of arrests. According to the Committee to Protect Journalists in New York, more than 80 media workers have already been arrested. The possibilities for reporting are massively restricted in the country. Iran’s political leadership has been under enormous…

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Facebook changes its name to Meta in major rebrand

Aminu Imam

Facebook has changed its corporate name to Meta as part of a major rebrand. Facebook boss Mark Zuckerberg announced the new name as he unveiled plans to build a “metaverse” – an online world where people can game, work and communicate in a virtual environment, often using VR headsets. He said the existing brand could not “possibly represent everything that we’re doing today, let alone in the future”, and needed to change. The company said it would better “encompass” what it does, as it broadens its reach beyond social media…

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Telegram to the rescue as Facebook, WhatsApp, others shut down

Aminu Imam

A cross-platform, cloud-based instant messaging system, Telegram, yesterday quickly replaced Facebook and its messaging platforms like WhatsApp and Messenger, after they shut down across the world. Like Facebook and its associated platforms, Telegram also provides end-to-end encrypted video calling, VoIP, file sharing and several other features. The service was launched for iOS on August 14, 2013 and Android in October 2013. Recall that Facebook users are experiencing outages across the world, including all social networks the company owns, which include Messenger, Instagram and WhatsApp. Users were also unable to send…

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Facebook founder, Mark Zuckerberg, worth $104 billion

Aminu Imam

Keeps $2.3 bn in cash The founder of Facebook, Mark Zuckerberg, has personified the popular narrative that explains why the rich hardly keep most of their funds in the bank. The 36-year-old CEO and founder of the biggest social media company, Facebook, believed to be worth $104 billion, keeps just $2.3 billion in cash (4.4% of his net wealth).  The value of his present cash valuations is based on an analysis of insider transactions — mostly from the sale of his stock holdings valued by an analysis retrieved from Bloomberg…

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Facebook bans Holocaust denial

Abdul-Azeez Ahmed Kadir

Facebook is banning Holocaust denial on its platform, with the social media giant saying it is concerned by rising anti-Semitism, in the latest move restricting controversial content. “If people search for the Holocaust on Facebook, we’ll start directing you to authoritative sources to get accurate information,’’ Facebook Chief, Mark Zuckerberg, said on Monday. Zuckerburg said he has “struggled with the tension’’ between protecting free speech and limiting hateful content. “Drawing the right lines between what is and isn’t acceptable speech isn’t straightforward, but with the current state of the world, I…

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