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CEO Zuckerberg tweaks Facebook mission to focus on groups

June 22, 2017 By David Ingram SAN FRANCISCO (Reuters) – Facebook Inc Chief Executive Mark Zuckerberg revised the world’s largest online social network’s mission statement on Thursday to emphasize support for hobby clubs, civil society organizations and other community groups. The move comes as Facebook faces pressure from smaller rivals such as Nextdoor and Meetup, whose online networks bring together neighbors and people in the same area with shared interests. Zuckerberg said on his Facebook page that his company’s new mission is to “give people the power to build community…

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Facebook gets initial approval to set up local unit in Indonesia: source

June 19, 2017 By John Chalmers and Eveline Danubrata JAKARTA (Reuters) – Facebook Inc has received an in-principle approval to set up a domestic unit in Indonesia, said a senior government source from the Southeast Asian nation, home to the social networking giant’s fourth-largest user base. Indonesia has been pushing multinational technology firms to be locally incorporated, arguing that companies such as Alphabet Inc’s Google set up small business entities to provide “auxiliary” services and get away with minimal taxation, while booking most of their revenue from the country elsewhere….

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Snap sinks to IPO price for first time since market debut

June 15, 2017 By Noel Randewich SAN FRANCISCO (Reuters) – Shares of Snap Inc dropped 4.9 percent on Thursday to their initial public offering price, highlighting investors’ loss of confidence in the social media company that faces fierce competition from Facebook. The owner of Snapchat – a mobile app that lets users capture video and pictures that self-destruct after a few seconds – ended at $17.00, the price set in its March initial public offering that was the hottest U.S. technology listing in years. Snap climbed to $29.44 in the…

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Facebook launches features to connect U.S. users to elected officials

June 7, 2017 By Dustin Volz WASHINGTON (Reuters) – Facebook Inc announced a set of three new features on Wednesday intended to boost civic engagement among users in the United States on its platform by connecting them more easily with their elected representatives. The new offerings come as the social media juggernaut has sought to rehabilitate its image as a credible source of information following a wave of criticism after last November’s presidential election that the company did too little to combat misleading or wholly fabricated political news stories during…

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After London attack, Facebook says aims to be ‘hostile environment’ for terrorists

June 4, 2017 LONDON (Reuters) – Facebook said it wanted to make its social media platform a “hostile environment” for terrorists in a statement issued after attackers killed seven people in London and prompted Prime Minister Theresa May to demand action from internet firms. Three attackers rammed a hired van into pedestrians on London Bridge and stabbed others nearby on Saturday night in Britain’s third major militant attack in recent months. May responded to the attack by calling for an overhaul of the strategy used to combat extremism, including a…

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As large cap gets larger, can the tech rally continue?

June 3, 2017 By Rodrigo Campos NEW YORK (Reuters) – Technology shares have led U.S. stocks to record highs and are expected to continue to rise, but as market value becomes concentrated in the largest companies, some are beginning to look for the next rally leader. The technology sector of the S&P 500 has risen roughly 20 percent so far in 2017, led by Apple , Alphabet , Facebook and Microsoft . The only other company with comparable gains in market value this year is Amazon , a market darling…

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Jennifer Garner disowns post-Affleck dating story

June 2, 2017 LOS ANGELES (Reuters) – Jennifer Garner is not happy about a celebrity magazine story on her life post-divorce from actor Ben Affleck. The “Miracles from Heaven” star, who filed for divorce in April nearly two years after the A-list Hollywood couple first split, took the rare step of distancing herself from a People magazine cover story that speculated about when she might start dating again. Garner and Affleck’s split in 2015 after a 10-year marriage has been one of the most talked-about breakups in Hollywood, especially as…

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Facebook leaked documents show types of content it allows: Guardian

May 22, 2017 (Reuters) – Leaked Facebook Inc documents show how the social media company moderates issues such as hate speech, terrorism, pornography and self-harm on its platform, the Guardian reported, citing internal guidelines seen by the newspaper. New challenges such as “revenge porn” have overwhelmed Facebook’s moderators who often have just ten seconds to make a decision, the Guardian said. The social media company reviews more than 6.5 million reports of potentially fake accounts a week, the newspaper added. Many of the company’s content moderators have concerns about…

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Facebook faces EU fine over misleading WhatsApp data: source

May 17, 2017 By Foo Yun Chee BRUSSELS (Reuters) – U.S. social network Facebook is set to be penalized by EU antitrust regulators for allegedly providing misleading data related to its WhatsApp acquisition three years ago, a person familiar with the matter said on Wednesday. The move by the European Commission will come after a six-month investigation and is expected to be a stiff warning to other companies facing similar issues. The EU executive and Facebook declined to comment. During regulatory scrutiny of the WhatsApp deal in 2014, Facebook told…

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Facebook adds Snapchat-like camera filters to Instagram

May 16, 2017 By Angela Moon and Aishwarya Venugopal (Reuters) – Facebook Inc’s Instagram has souped up its camera with quirky face-tracking filters, adding another feature similar to one offered by social media rival Snap Inc’s Snapchat. Instagram users will now be able to choose from eight filters including koala ears that move and twitch as well as math equations that spin to create humorous effects for their photos or videos. Other new features include a rewind mode for videos, which will allow users to play video in reverse, and…

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