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