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Australia to force Facebook, Google to pay for news | Instant News


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Australia forces Google and Facebook to pay for news publishers | Instant News


Facebook and Google logos

Peter Foley / Bloomberg | Getty Images

Google and Facebook can be forced to pay Australian news publishers to distribute their content, in important regulatory steps from the country’s competition regulators.

The Australian Competition and Consumer Commission was commissioned by the government earlier this year by developing a mandatory code for technology giants to pay for the use of news content. If agreed, draft code announced by the ACCC on Friday will allow Australian outlets to secure payments in a matter of months.

It aims to address “acute bargaining power imbalances” between news groups and Google and Facebook, the ACCC said. Under the rules, if the publisher and digital platform cannot agree on an agreement after three months of formal talks, will the “final bid” arbitration process be carried out? initiates that the results in the selection of bids “make the most sense” in 45 working days.

“Changes to our rules are designed to create a fair and just playing field,” Australian Treasurer Josh Frydenberg said Friday. “We want regulations in the digital world to reflect regulations in the physical world. We want to ensure increased consumer protection, increased competition and of course we provide a sustainable media environment for all Australians for the future.”

This step could make Australia the first country to force Google and Facebook to pay for news content. It happened after talks between online platforms, ACCC and media companies failed to produce an agreement.

It is not yet clear how much development will impact Google and Facebook’s revenue. Google’s parent company, Alphabet reports the first decline in income in history in Thursday’s second quarter earnings report, while Facebook posted an 11% increase in income. Both companies have been under regulatory spotlight lately, with their CEO appearing alongside Amazon and Apple bosses inside Congress antitrust trial on wednesday.

The draft code will be consulted for a month before being discussed in parliament. If approved, it is expected to be reviewed within one year.

Google said it was “very disappointed and concerned” about the draft mandatory ACCC code.

“This code discounts the significant value that Google gives news publishers across the board – including sending billions of clicks to Australian news publishers free of charge annually for $ 218 million,” Mel Silva, managing director of Google Australia and New Zealand, said in a statement. Friday statement.

“This sends a message about businesses and investors that the Australian Government will intervene rather than let the market work, and undermine Australia’s ambition to become a leading digital economy by 2030. The Australian Government sets a misguided disincentive to innovate in the media sector and doing nothing can solve challenges fundamental in creating business models that are suitable for the digital age. “

William Easton, managing director of Facebook Australia and New Zealand, said the company is currently “reviewing the Government’s proposal to understand its impact on the industry, our services, and our investment in the news ecosystem in Australia.”

Last month, Google said it would do it pay a number of publishers in Australia, Germany and Brazil directly to license their content, as part of a new service that is expected to be launched later this year. This marks a change in tactics for the internet giant, which for years has fended off demands from news organizations to pay for the distribution of their work.

The French competition regulator decided in April that Google must pay publishing companies and news agencies to reuse their content. Such regulatory pressures have increased as news outlets grapple with a sharp drop in advertising spending due to the coronavirus pandemic.

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Large tech companies see strong performance in the flu pandemic quarter | Instant News


Large technology companies released strong results on Thursday, highlighting consumers’ reliance on giants such as Amazon during the pandemic and their extraordinary economic strength-the subject of a US Congressional hearing a day ago.

Result from apple, Amazon, Facebookwith Google parents letter -Ironically, the CEO of the same company Antitrust hearing At the Congress meeting this week-much better than expected.

The report illustrates the increasing importance of social networks, digital content and connected devices, which have been regarded as the lifeline of pandemic patients.

Apple profit rose In the three months ended June 27, revenue increased by 8% to US$11.2 billion (approximately Rs 83,800 crore), and revenue increased by 11% to US$59.7 billion (approximately Rs 44.6 billion).

California tech giant’s iPhone Sales, where accessories and services (such as applications and digital content) have grown more significantly.

The CEO said: “In uncertain times, this performance proves the important role our products play in the lives of our customers and Apple’s unremitting innovation.” Tim Cook Said.

Wedbush Securities analyst Daniel Ives (Daniel Ives) said that the results provided the impetus for Apple to prepare new products. iPhone 12.

Ives said in a research report: “This stage is preparing for the upcoming large-scale cycle of the troubled iPhone 12.”

Amazon delivery

Amazon also said Profit almost doubled Reached 5.2 billion US dollars (approximately Rs 38,911 crore), and sales increased by 40% to 88.9 billion US dollars (approximately Rs 66.4 crore).

Amazon founder and CEO said: “This is another very unusual quarter, and I am proud and grateful to our employees worldwide.” Jeff Bezos.

While sales of grocery, video, and cloud computing businesses continue to grow, Amazon has told investors that it hopes to spend all of its profits this year on costs related to keeping employees and customers safe during the pandemic.

Neil Saunders of the research firm GlobalData Retail said: “This amazing result from Amazon shows that during the pandemic, shopping habits in the United States and around the world have changed.”

“As shoppers become more digital and online to meet their various needs, many of these changes are beneficial to Amazon’s advantage.”

“Challenging Times”

Facebook Said It paid huge fines to US regulators, and its profits doubled to US$5.2 billion (approximately Rs 38,877 crore) compared with the same period last year.

Revenue increased by 11% to US$18.7 billion (approximately 13.9 billion rupees), indicating that boycotts of leading social networks have minimal impact on their handling of hateful content and misinformation.

Facebook said its core social network has grown to 2.7 billion, while the total number of users including the “family” app exceeds 3.1 billion.

Debra Aho Williamson, an analyst at eMarketer, said that Facebook’s advertising business “has been negatively affected by the global pandemic, but its impact is far from what many people expected.”

Williamson said she believed Instagram Although the details of the platform were not disclosed, it “played an important role in Facebook’s fight against the pandemic.”

Letter swing

letter Reported There was a rare decline in revenue and profit in the quarterly report, but it still exceeded market expectations.

For most online giants that rely on digital advertising revenue, profits fell 30% from a year ago to 6.96 billion US dollars (approximately 520.15 billion rupees).

CFO Ruth Porat (Ruth Porat) said that revenue fell 2% to 38 billion US dollars (approximately 24.8 trillion rupees): “We will continue to struggle with the global economic environment.”

After the release, Alphabet’s stock rose slightly in after-hours trading, while other companies’ stock growth was even stronger.

As the pandemic has forced people to wander at home, Alphabet sees an increase in demand for entertainment content YouTube And its online Play store and cloud services for cloud services are increasingly used for learning, work and online business.

On Wednesday in Washington, the chief executives of four technology companies were criticized by US lawmakers during an antitrust hearing, which may lay the foundation for strengthening the supervision of major Internet platforms.

“In short, they have too much power,” said David Sicilion, a Democrat from the chairman of the Democratic Party of Rhode Island.

Cicilline made it clear at the hearing that these companies “have monopoly power-some need to be broken down, and all need to be properly supervised and accountable.”

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Australian shares close higher on Fed pledges, technology shares shine | Instant News


Australian stock closed higher on Thursday as investors welcomed the Federal Reserve’s statement that they would use “various tools” to support the virus-ravaged US economy, with an additional increase in technology stocks ahead of a series of major US earnings.

The S & P / ASX 200 index closed 0.74% higher at 6,051.1, halting two consecutive sessions of decline.

Fed policymakers reiterated pledges to keep interest rates near zero for as long as needed to recover from a coronavirus pandemic, but warned that “the economic path will be highly dependent on the path of the virus”.

“The fact that the US Federal Reserve has some pretty dovish comments gives investors little confidence that there will be support, although we continue to see major cases Covid-19 in Australia, “said James Tao, a market analyst at Commsec.

Australia reports a record surge in new Covid-19 cases with at least 13 deaths and more than 700 new infections mainly in the state of Victoria.

“We have lower US futures at the moment, so we can see the US market giving back some of the recent gains … that might lead to a softer start for Aussie stocks tomorrow,” Tao said.

However, he said, “That is one situation where you cannot look too far ahead with much certainty.”

Most major sub-indices closed higher, with gold stocks the only drag after the gold price fell.

Technology shares led gains with a 2.4% increase, marking their best session in more than a week, afterwards Facebook , Apple and the Google Alphabet closed overnight higher than their earnings.

Among the top gainers, Afterpay Ltd and WiseTech Global rose 1.6% and 5.9% respectively.

Energy stocks closed 1% higher, helped by heavyweights Woodside Petroleum and Santos Ltd.

In New Zealand, the benchmark S & P / NZX 50 index rose 0.8% to 11,692.02, with top gainers Mainfreight Ltd and A2 Milk Co each rose by almost 3%.

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Australian shares close higher on Fed pledges, technology shares shine | Instant News


Australian stock closed higher on Thursday as investors welcomed the Federal Reserve’s statement that they would use “various tools” to support the virus-ravaged US economy, with an additional increase in technology stocks ahead of a series of major US earnings.

The S & P / ASX 200 index closed 0.74% higher at 6,051.1, halting two consecutive sessions of decline.

Fed policymakers reiterated pledges to keep interest rates near zero for as long as needed to recover from a coronavirus pandemic, but warned that “the economic path will be highly dependent on the path of the virus”.

“The fact that the US Federal Reserve has some pretty dovish comments gives investors little confidence that there will be support, although we continue to see major cases Covid-19 in Australia, “said James Tao, a market analyst at Commsec.

Australia reports a record surge in new Covid-19 cases with at least 13 deaths and more than 700 new infections mainly in the state of Victoria.

“We have lower US futures at the moment, so we can see the US market giving back some of the recent gains … that might lead to a softer start for Aussie stocks tomorrow,” Tao said.

However, he said, “That is one situation where you cannot look too far ahead with much certainty.”

Most major sub-indices closed higher, with gold stocks the only drag after the gold price fell.

Technology shares led gains with a 2.4% increase, marking their best session in more than a week, afterwards Facebook , Apple and the Google Alphabet closed overnight higher than their earnings.

Among the top gainers, Afterpay Ltd and WiseTech Global rose 1.6% and 5.9% respectively.

Energy stocks closed 1% higher, helped by heavyweights Woodside Petroleum and Santos Ltd.

In New Zealand, the benchmark S & P / NZX 50 index rose 0.8% to 11,692.02, with top gainers Mainfreight Ltd and A2 Milk Co each rose by almost 3%.

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image source

Australian shares close higher on Fed pledges, technology shares shine | Instant News


Australian stock closed higher on Thursday as investors welcomed the Federal Reserve’s statement that they would use “various tools” to support the virus-ravaged US economy, with an additional increase in technology stocks ahead of a series of major US earnings.

The S & P / ASX 200 index closed 0.74% higher at 6,051.1, halting two consecutive sessions of decline.

Fed policymakers reiterated pledges to keep interest rates near zero for as long as needed to recover from a coronavirus pandemic, but warned that “the economic path will be highly dependent on the path of the virus”.

“The fact that the US Federal Reserve has some pretty dovish comments gives investors little confidence that there will be support, although we continue to see major cases Covid-19 in Australia, “said James Tao, a market analyst at Commsec.

Australia reports a record surge in new Covid-19 cases with at least 13 deaths and more than 700 new infections mainly in the state of Victoria.

“We have lower US futures at the moment, so we can see the US market giving back some of the recent gains … that might lead to a softer start for Aussie stocks tomorrow,” Tao said.

However, he said, “That is one situation where you cannot look too far ahead with much certainty.”

Most major sub-indices closed higher, with gold stocks the only drag after the gold price fell.

Technology shares led gains with a 2.4% increase, marking their best session in more than a week, afterwards Facebook , Apple and the Google Alphabet closed overnight higher than their earnings.

Among the top gainers, Afterpay Ltd and WiseTech Global rose 1.6% and 5.9% respectively.

Energy stocks closed 1% higher, helped by heavyweights Woodside Petroleum and Santos Ltd.

In New Zealand, the benchmark S & P / NZX 50 index rose 0.8% to 11,692.02, with top gainers Mainfreight Ltd and A2 Milk Co each rose by almost 3%.

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Humans roam in giant bubbles to protect from coronavirus in Australia. Watch it – it’s viral | Instant News


A man in Belgrave, Australia gave the meaning of “life in bubbles” a whole new meaning when he was seen walking back and forth on the road inside a giant, literally. Now, the video of this incident has reached social media and made hundreds of people laugh out loud. Chances are, after seeing the video you will join the laughter party too.

“Only in Belgrave! The man sings, ‘I’m a man in a bubble’! Thank you to this man for making us smile. This is a random act of kindness! “Facebook user Janine Rigby wrote while sharing a video.

The video shows exactly what the details are. This shows a man in a large bubble hanging around the side of the road when a car passes.

Since being distributed, he has collected more than 1.5 lakh views and nearly 700 reactions. The post has also collected around 2,000 comments and people did not hold back when sharing their reactions. From posting humorous comments to saying that videos make their day brighter, the comments section of the post is flooded with all kinds of reactions. While some others burst out laughing with loud emojis, some tagged others to show videos.

“I need to see this,” wrote a Facebook user. “I saw this man too,” wrote one indication they were present when the incident occurred. “This is very funny,” commented the third one.

“I don’t know the man, but I know now and when our Lockdown subsides, we will have a cup of tea together,” Rigby said. UNILAD. “That certainly makes me happy and as you can see from the statistics [Facebook reactions]”He has reached the hearts of many people throughout the world,” he added.

What do you think about that video?

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This is all you need to know about the Big Tech antitrust hearing | Instant News


A little accountability system will definitely be good now.

Wednesday Congressional hearing, Will see the CEOs of Facebook, Amazon, Apple, and Google testify before the House Antitrust, Commercial and Administrative Law Subcommittee, which may provide an opportunity. The hearing focuses on the company’s respective market dominance and anti-competitive practices. This hearing will give frustrated members of Congress the opportunity to destroy some of the most talented people in the world. And, if you are lucky, it will help solve a series of antitrust problems faced by all four technology giants.

Of course there is Participating members Including Florida Congressman Matt Gaetz, who submitted a Criminal referral Against Mark Zuckerberg-the hearing may be a long, lengthy sentence myth Social media favors conservatives.

If the senior members of the subcommittee more or less maintain the subject of the hearing, this is why you should be paying attention-why Jeff Bezos, Mark Zuckerberg, Sundar Pichai and Tim Cook all have many answers.

Amazon

The main problem facing CEO Jeff Bezos will be what Amazon calls data collection, which is collected from companies that use its business platform to create and sell competing products. It is worth noting that Amazon has long denied that it has done so-past and current sellers (and past Amazon employees) have disputed this claim.

in January of this year, PopSockets CEO and inventor David Barnett (David Barnett) spoke to the Congressional Subcommittee on BBQ Bezos on Wednesday and described what he called Amazon’s predatory behavior.

Barnett explained: “We have repeatedly found that Amazon itself has purchased counterfeit products and sold them together with our own products.” He added that business dealings with Amazon can basically be attributed to “bullying with a smile.”

Not only that, PopSockets also received this treatment from Amazon. In April, of Wall Street Journal Reported Amazon uses seller data (some of which is proprietary data) to inform the production and pricing decisions of many Amazon-branded products, including car trunk organizers and office chair cushions.

“We know we shouldn’t do this,” a former Amazon employee told the media Log“But at the same time, we are producing Amazon-branded products, and we hope they can be sold.”

In June, we learned that officials in California and Washington reportedly Investigate Amazon Its anti-competitive behavior.

Facebook

The social media giant inflated its video viewing metrics for more than a year Up to 900% And in the process directly caused Thousands of jobs, Is currently involved in an ongoing antitrust investigation. Therefore, it makes sense that Mark Zuckerberg will be one of the four CEOs attending Wednesday’s hearing.

According to reports, the current investigation of Facebook led by the Federal Trade Commission is completely separate from another FTC investigation, which led to Fined $5 billion Filed a lawsuit against Facebook in 2019. A subsequent investigation determined that Facebook violated the 2011 settlement with the FTC on user data. Although the exact details of the ongoing investigation have not been disclosed, New York Times report It may focus on Facebook’s use of acquisitions to suppress competitors.

Think facebook Purchased in 2014 Buy WhatsApp for $16 billion, or Acquired in 2012 Acquired Instagram for $1 billion.

This will undoubtedly be the focus of many issues at Wednesday’s hearing.


In 2018, Mark Zuckerberg may consider surfing with electric hydrofoils in Hawaii for a day.

Image: Tom Williams/Getty

Next is Facebook’s dominance in digital advertising. At the end of 2019, the UK Competition and Market Authority Published midterm report claim”[Facebook and Google] Now, they are so big and have such extensive data access rights that potential competitors can no longer compete on an equal footing. “

The report pointed out that Facebook occupied “50% of the nearly £5 billion display advertising market” in the UK.

The report continued: “The weakness of digital advertising competition will increase the prices of goods and services across the economy, and damage the ability of newspapers and other companies to produce valuable content, thereby harming society as a whole.”

The idea that Facebook is “harmful to the wider society” is likely to come under fire on Wednesday.

apple

by app Store, Apple controls its ecosystem, determining which applications can and cannot thrive on hardware products such as iPhone, iPad and Apple Watch. This control measure has allowed Apple to conduct at least one overseas investigation- Launched last month -By the European Union. Now, on Wednesday, members of Congress will question whether Apple CEO Tim Cook’s control of the Apple App Store gives Apple a greater unfair advantage over third-party app developers.

At least, the App Store provides a huge source of income for Apple. In most App Store sales, the company’s cuts ranged from 15% to 30%. Companies like Spotify Refer to By forcing the use of Apple’s payment system (and paying corresponding fees), its own products have become more expensive than Apple’s competing music apps.

“If we choose not to use Apple’s payment system,” Spotify CEO Daniel Ek said in March 2019 blog post, “Abandoning fees, Apple subsequently imposed a series of technical and experience restrictions on Spotify.”

Recently, Apple has It is said to require The coronavirus pandemic forced ClassPass to take classes online, resulting in a 30% reduction in ClassPass.

Google

Google search was once considered to be the most effective way to find information on the Internet, but it has become a swollen tool. Critics argue, To a large extent prefer their own services. In addition, Google’s control of the Android mobile operating system is said to allow it to launch its own products at the expense of competitors’ prices.

In 2018, the European Commission Google fined 4.34 billion euros Violation of antitrust rules. Specifically, it found “[since] In 2011, Google imposed illegal restrictions on Android device manufacturers and mobile network operators to consolidate its dominant position in general Internet searches. “

See also: CEOs of large technology companies will face claims of “anti-conservative bias” at the hearing. They are BS and very dangerous.

According to an expert, this modus operandi continues to this day. Flag survey. The report was released on Tuesday and quantified how active Google is to promote itself.

The report said: “Google assigns 41% of the first page of search results on mobile devices to its own attributes and so-called “direct answers.” These answers are filled with information copied from other sources, sometimes without their own. Informed or agreed.”

Google CEO Sundar Pichai apparently has done the work for him.


You can watch the hearing live on July 29 at 9 a.m. Pacific time.

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Google’s new underwater cable to connect the US, UK and Spain | Instant News


Alphabet has commissioned a new submarine cable, which he said will be one of the first new fiber lines to connect the US and the UK since 2003 and subsequently entrenched technology giants in global internet infrastructure.

Cable, named Grace Hopper after a computer scientist, will also be connected to Spain, becoming the first fiber lines to land there, the company said in a statement. Join existing ones Submarine cables include Google Curie, which stretches from the US to Chile, and Dunant, which connects the US to France, and Equio. Companies based in Mountain View, California expect to complete the project in 2022. Steady trans-sea flow of cables announced by technology giants; Facebook joined telecommunications operators to connect Africa better in May.

“Once commissioned, Grace Hopper cable will be one of the first new cables to connect the US and UK since 2003, increasing capacity at this busy global intersection and powering Google services such as Meet, Gmail and Google Cloud,” said Bikash Koley, deputy -President of the Google Global Network, on a blogpost.

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Brazilian antitrust watchdog questions WhatsApp Facebook payment fees | Instant News


PHOTO FILE: Whatsapp logo and binary cyber code can be seen in the illustration taken on November 26, 2019. REUTERS / Dado Ruvic / Illustration / File Photo

BRAZIL (Reuters) – Brazilian antitrust watchdog requests Facebook Inc. (FB.O) to explain the fee structure for short-term payment services launched in June in partnership with the Cielo SA card processor (CIEL3.SA), according to documents seen by Reuters.

Services on the WhatsApp Facebook messaging platform were blocked by the Brazilian central bank eight days after launch.

Facebook charges merchants a 4% fee per transaction, above the market price, but transfers between individuals are free.

Cade, as a well-known supervisor, said he wanted to understand the reasons for the costs and see if the deal prevented other card processors from joining the payment platform because Cielo dominated the Brazilian market with a 40% share.

Facebook and Cielo say the agreement does not exclude others from joining.

The antitrust watchdog also asked Facebook to explain how he reached an agreement with Cielo and Nubank card issuer, Banco do Brasil SA (BBAS3.SA) and Sicredi.

Reporting by Marcela Ayres; Writing by Carolina Mandl; Editing by Richard Chang

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