Social Networking News

Rolling news and analysis coverage of the major social networking businesses around the globe and the sector as a whole.

Platform News: EU European Commission antitrust regulators

Vestager says tech giants may prefer EU fines to compliance, cites Apple

Some US tech giants may prefer to pay a fine rather than comply with antitrust rules, the European Union’s antitrust chief said, and cited Apple’s fight with the Nether...

Chinese Flag

Fresh fears over Beijing regulatory crackdown drive China tech rout

Investor worries over the potential for a fresh wave of regulatory crackdowns by Beijing set off steep drops in Chinese tech shares.

Platform News: Big Tech

Users should be allowed to sue US tech giants under EU rules, civil groups say

Individual users should be allowed to take US tech giants to court for breaching landmark EU rules aimed at curbing their power, Privacy International, pan-European consumer group ...

Facebook

Ireland nears Facebook decision key to EU-US data transfers

The Republic of Ireland’s data watchdog expects to consult fellow EU regulators in April on its investigation into Facebook’s data transfers, moving closer to a decisio...

Growth stocks led by tech

Growth stocks still not cheap, cautions JPMorgan

Tech-dominated “growth” stocks are still not cheap despite some sharp falls over the last six months, analysts at US investment bank JPMorgan has cautioned.

Truth Social - Trumps social media business

Trump’s Truth Social tops downloads on Apple App Store; many waitlisted

Former President Donald J Trump’s new social media venture, Truth Social, has now launched in Apple’s App Store, potentially marking the former president’s return...

Platform News: President Donald J Trump in talks with Apple CEO Tim Cook

President Trump’s Truth Social app set for release today in the App Store?

Donald Trump’s new social media venture, Truth Social, appears set to launch in Apple’s App Store later today, according to posts from an executive on a test version vi...

Platform News: Facebook

Meta’s Facebook to pay $90 million to settle privacy lawsuit over user tracking

Facebook agreed to pay $90 million to settle a decade-old privacy lawsuit accusing it of tracking users’ internet activity even after they logged out of the social media webs...

Meta

Meta closes Kustomer deal after regulatory approval

Meta Platforms Inc has said it had closed its acquisition of Kustomer, a US customer service start-up, after winning conditional European Union antitrust approval for the deal last...

Platform News: Social Media businesses

US lawmakers introduce bipartisan bill to address social media addiction

US Senators Amy Klobuchar, a Democrat, and Cynthia Lummis, a Republican, introduced a bill aimed at addressing addiction to social media platforms like Meta Platform’s Facebo...

Platform News: Twitter App

Twitter misses ad revenue and user growth estimates; revenue forecast light

Twitter Inc reported weaker-than-expected quarterly advertising revenue and user growth and forecast revenue short of Wall Street targets, indicating that its turnaround plan has y...

Platform News: President Donald J Trump

How a China-based dealmaker got shell company for Trump’s deal off the ground

A China-based financier, once reprimanded by US regulators and barred from taking his company public, played a bigger role than is publicly known in the shell company that agreed t...

Chinese Flag

China revises draft rules on data security for business sectors

China’s industry ministry published revisions to draft rules dictating how companies and localities should manage data, bringing more specificity to the country’s evolv...

Meta Platforms - Facebook

Meta and Chime file lawsuit against alleged phishing scam

Meta Platforms has said it has filed a joint lawsuit with digital banking company Chime against two Nigeria-based individuals who engaged in phishing attacks to deceive people and ...

Platform News: Facebook the smartphone app in-front of monitors

Facebook should tighten doxxing rules, says its oversight board

Facebook owner Meta Platforms should not allow users to share people’s private residential information on its platforms even when the information is publicly available, the c...