|Bid||210.00 x 900|
|Ask||210.34 x 1100|
|Day's range||208.83 - 214.24|
|52-week range||159.28 - 224.20|
|Beta (5Y monthly)||1.08|
|PE ratio (TTM)||32.69|
|Earnings date||21 Apr 2020 - 26 Apr 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||248.09|
In a newly released interview, AT&T President and COO John Stankey says he’s “really concerned about the concentration of economic power” in big tech companies and how they approach their “platforms’ influence on society.”
Another question, 75 years after the bombing of Dresden: was it necessity or atrocity? Europe’s own answer to the Silk Road is evoked in this journey tracing the trade of the honey-coloured fossilised tree resin.
The Facebook-led digital currency project Libra has announced that ecommerce group Shopify will join its ranks, its first new recruit since a wave of big technology and finance companies quit the initiative over regulatory concerns. Shopify will contribute $10m to become part of the Libra initiative — which is billed as an attempt to use blockchain technology to enable swift, low-cost international payments online — and sit on the board that oversees its development. “As a member of the Libra Association, we will work collectively to build a payment network that makes money easier to access and supports merchants and consumers everywhere,” Shopify said in a blog post.
Facebook is offering to pay its users for personal information including recordings of their own voice, in a rare example of internet companies directly compensating people for collecting their data. The recordings, made through its new market research app Viewpoints, will help to train the speech recognition system that powers Facebook’s Portal devices, which rival Amazon’s Echo speakers and its Alexa virtual assistant.
The Zacks Analyst Blog Highlights: Facebook, Netflix, NextEra Energy, GlaxoSmithKline and T-Mobile US
For years, big technology companies have acted as though they were above the law. Tech and social media companies have become powerful global actors and their corporate governance decisions already affect the rights and freedoms of billions of people.
Facebook's content moderation plan, its IRS lawsuit, Amazon's defense in JEDI, Google Cloud deploying AMD Epyc and other stories are covered here.
U.S. Attorney General William Barr on Wednesday questioned whether Facebook, Google and other major online platforms still need the immunity from legal liability that has prevented them from being sued over material their users post. "Given this changing technological landscape, valid questions have been raised about whether Section 230's broad immunity is necessary at least in its current form," he said. Section 230 says online companies such as Facebook Inc , Alphabet Inc's Google and Twitter Inc cannot be treated as the publisher or speaker of information they provide.
In a small room in the US Tax Court in San Francisco, a judge has begun to untangle how exactly Facebook has become the biggest social media network in the world. For the past few years, Facebook and the Internal Revenue Service have been fighting over the role played by the company’s international headquarters in Dublin, Ireland. While Facebook claims it was instrumental to the company’s success, the IRS claims it was used to shift profits overseas and lower the company’s overall tax bill.
Unacademy, one of India's fastest growing education startups, has just received the backing of a major technology giant: Facebook. The social juggernaut has participated in the four-year-old Indian startup’s Series E financing round, sources familiar with the matter told TechCrunch. General Atlantic is leading the round, the size of which is about $100 million* (see below), the sources said.
American tax authorities have accused Facebook of deliberately “downplaying” the value of its assets as part of a scheme to pay less US tax, in a court case that could cost the social media company more than $9bn. The trial at San Francisco’s tax court centres on how the Silicon Valley company valued intellectual property such as software and trademarks transferred to an Irish subsidiary in 2010. The Internal Revenue Service claimed that Facebook made “attempts to downplay the value [of these intangible assets] for transfer pricing purposes”.
A multi-billion dollar dispute between Facebook and US tax authorities over profits shifted to an Irish subsidiary began playing out in front of a judge on Tuesday. The Internal Revenue Service contends that Facebook dodged about $9 billion in taxes, while the leading social network says it is actually owed a refund, according to US media reports. "This trial is about transactions that took place in 2010, when Facebook had no mobile advertising revenue, its international business was nascent, and its digital advertising products were unproven," spokesperson Bertie Thomson said in an email response to an AFP inquiry.
If Financial Times readers were asked whether they could tell the difference between “fake” and “true” news, most would reply with an indignant “yes”. Digital researchers at New York University and Stanford have recently examined this question in a more rigorous way, with some unnerving results. The preliminary results of this research (which is still under way and was funded by the Hewlett Foundation) show that most participants could tell that true news was true.
Facebook Inc said it was "deeply concerned" about a Singapore government order to block access to a blog page on its social media website under a controversial fake news law. The government had ordered Facebook this week to block the States Times Review's page in Singapore, saying the blog had repeatedly conveyed falsehoods and had not complied with any of the directions that it had been served with under the Protection from Online Falsehoods and Manipulation Act (POFMA). Facebook said in an e-mailed statement it was legally compelled to restrict access to the page.
Almost a year after Facebook’s founder Mark Zuckerberg first called for global regulation, the social network has attempted to flesh out his ideas. Facebook’s “white paper” on regulating content reflects Big Tech companies’ realisation that government action is inevitable.
Facebook may make it easier to escape its ranking algorithm and explore the News Feed in different formats. Facebook has internally prototyped a tabbed version of the News Feed for mobile that includes the standard Most Relevant feed, the existing Most Recent feed of reverse chronological posts that was previously buried as a sidebar bookmark and an Already Seen feed of posts you've previously viewed that historically was only available on desktop via the largely unknown URL facebook.com/seen. The tabbed feed is currently unlaunched, but if Facebook officially rolls it out, it could make the social network feel more dynamic and alive as it'd be easier to access Most Recent to view what's happening in real time.
A Tel Aviv court ordered Facebook Inc to unblock the private account of a worker at Israeli surveillance company NSO Group, and similar rulings are expected for other employees in the coming days, an NSO spokeswoman said on Tuesday. A group of NSO employees filed a suit against Facebook in November, saying the social media group had unfairly blocked their private accounts when it sued NSO in October. Facebook-owned messaging service WhatsApp accused the Israeli firm of helping government spies break into the phones of about 1,400 users in a hacking spree targeting diplomats, political dissidents, journalists and senior government officials across the world.
Facebook on Tuesday blocked the page of an anti-government website in Singapore following a demand from authorities but slammed the "disproportionate" use of a controversial law against online misinformation. Authorities this week ordered Facebook to block the page for Singapore users. Confirming it complied with the order, Facebook said it was "legally compelled" to restrict access to the page in Singapore.
Apple said it had assumed work would return to normal in China after the new year holiday that ended on February 10. Analysts are beginning to pull together assessments of how the tech supply chain is being affected by efforts to contain the epidemic. The ratings service Fitch has revised down all components making up the consumer electronics and IT markets for China and other markets in the region, yet it sees upside risk to the already bullish outlook for cloud computing spending “as more businesses switch to remote working and employees are able to spend some of the downtime from reduced commuting/business travel playing games, streaming media and doing online shopping”.
It's suspiciously convenient that Facebook already fulfills most of the regulatory requirements it's asking governments to lay on the rest of the tech industry. Facebook CEO Mark Zuckerberg is in Brussels lobbying the European Union's regulators as they form new laws to govern artificial intelligence, content moderation and more. The idea was to strengthen privacy and weaken exploitative data collection that tech giants like Facebook and Google depend on for their business models.