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☆ Mark Zuckerberg's Meta launches Instagram's Threads app, a rival to Twitter amidst Elon Musk backlash
▼ + stars: | 2023-07-05 | by ( Samantha Kelly | ) edition.cnn.com time to read: +4 min

Meta's new Threads app Courtesy Meta“The vision for Threads is to create an option and friendly public space for conversation,” Meta CEO Mark Zuckerberg said in a Threads post following the launch. After downloading the app, users are asked to link up their Instagram page, customize their profile and follow the same accounts they already follow on Instagram. Verified Instagram accounts are also automatically verified on Threads. In this photo illustration, the app Threads from Meta seen displayed on a mobile phone. The escalating rivalry between the two companies only appears to have added to the rivalry between Musk and Meta CEO Mark Zuckerberg.

Persons: ”, Mark Zuckerberg, Meta, Elon Musk, Davide Bonaldo, ” parroting, Musk, “, Zuckerberg, –, Hanna Ziady Organizations: CNN, Facebook, Twitter, Meta, Wednesday, TweetDeck

☆ Meta’s Facebook Faces Fresh Threat to Sending Personalized Ads in EU
▼ + stars: | 2023-07-04 | by ( Sam Schechner | Nuha Dolby | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Meta Loses Appeal on How It Harvests Data in Germany
▼ + stars: | 2023-07-04 | by ( Adam Satariano | ) www.nytimes.com time to read: +3 min

Although the ruling applies only to Meta services in Germany, it is expected to influence other antitrust authorities in the European Union. antitrust law, called the Digital Markets Act, takes effect in the coming months and gives regulators new powers to encourage competition in the tech sector. The court said regulators investigating antitrust cases can also examine whether a company is breaking the European Union’s data protection law, called the General Data Protection Regulation, or G.D.P.R. After the company appealed the decision, it eventually landed before the European Court of Justice in Luxembourg. He has argued that Facebook uses the data it collects from users to strengthen its position over rivals, harming competition.

Persons: Meta, Andreas Mundt, Mundt, ” Mr, “ Organizations: European Court, Justice, Facebook, Big Tech, European Union, Markets, Data, Court of Justice, Amazon, Google Locations: Germany, European Union, Luxembourg

☆ Threads: Meta takes aim at Twitter with new app
▼ + stars: | 2023-07-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

Zuckerberg’s Meta, which owns Facebook and Instagram, has teased a new app that is set to take on Twitter by offering a rival space for real-time conversations online. The app is called Threads and it is expected to go live Thursday, according to a listing in the App Store. The app appears to have many similarities to Twitter — the App Store description emphasizes conversations, as well as the potential to build a following and connect with like-minded people. Since taking Twitter private in October, Musk has turned the social media platform on its head, alienating advertisers and some of its highest-profile users. Twitter announced Monday that users would soon need to pay for TweetDeck, a tool that allows people to organize and easily monitor the accounts they follow.

Persons: Mark Zuckerberg, Elon Musk, Musk, ” parroting Organizations: London CNN, Twitter, Meta, TweetDeck, Facebook, Las Locations: Las Vegas

☆ Meta’s ‘Twitter Killer’ App Is Coming
▼ + stars: | 2023-07-03 | by ( Mike Isaac | ) www.nytimes.com time to read: +1 min

Mark Zuckerberg has long wanted to dislodge Twitter and provide the central place for public conversation online. On Monday, his company, Meta, which owns Facebook, Instagram and WhatsApp, teased a new app aimed squarely at Twitter’s territory. The app, which is called Threads and is connected to Instagram, appeared in Apple’s App Store for users to sign up to download on Thursday, when it will be released. The app appears to function much like Twitter, emphasizing public conversations, with users able to follow people they already do on Instagram. Some techies have referred to the coming app as a “Twitter killer.”Mr. Zuckerberg is striking while Twitter undergoes fresh turmoil.

Persons: Mark Zuckerberg, hasn’t, Zuckerberg, Mr, Elon Musk Organizations: Twitter, Meta, Elon

☆ Hun Sen: Facebook urged to suspend Cambodia's PM over video threatening violence
▼ + stars: | 2023-06-30 | by ( ) edition.cnn.com time to read: +3 min

The oversight board for Facebook’s parent company Meta Platforms on Thursday said Cambodian Prime Minister Hun Sen should be suspended from the social media site for six months for posting a video violating rules against violent threats. The board, which is funded by Meta but operates independently, said the company had been wrong not to remove the video after it was published in January. Meta, in a written statement, agreed to take down the video but said it would respond to the board’s recommendation to suspend Hun Sen after a review. Any suspension would silence the prime minister’s Facebook page less than a month before an election in Cambodia. Phil Robertson, deputy Asia director for Human Rights Watch, said Hun Sen had finally been called out for inciting violence.

Persons: Hun Sen, Hun, –, Meta’s, Donald Trump –, Meta, Phil Robertson, ” Organizations: Cambodian, Meta, Facebook, United States, Cambodian People’s Party, Human Rights, Big Tech Locations: Cambodia, United, Asia

☆ Meta releases clues and tools on how AI is used on Facebook, Instagram
▼ + stars: | 2023-06-29 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —As demand for greater transparency in artificial intelligence mounts, Meta released tools and information Thursday aimed at helping users understand how AI influences what they see on its apps. These describe how Meta selects what content to recommend to users. Meta’s so-called “system cards” cover how the company determines which accounts to present to users as recommended follows on Facebook and Instagram, how the company’s search tools function and how notifications work. Previously, Meta had only offered the ability for users to tell Instagram to show less, not more, Clegg wrote. On both Facebook and Instagram, he added, users will now be able to customize their feeds further by accessing a menu from individual posts.

Persons: Nick Clegg, ” Clegg, “, Instagram, Clegg Organizations: Washington CNN, Meta, Facebook

☆ LinkedIn ages like fine wine in Microsoft’s cellar
▼ + stars: | 2023-06-28 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +5 min

NEW YORK, June 28 (Reuters Breakingviews) - Most corporate acquisitions deteriorate over time, but Microsoft’s (MSFT.O) $26 billion deal for LinkedIn keeps getting better. Buying LinkedIn was a bold step for Satya Nadella, who became the software goliath’s third chief executive in early 2014. Paying a 50% premium for LinkedIn and its 430 million users made it one of the technology industry’s largest deals ever and by far Microsoft’s biggest. The war over the “Call of Duty” maker is just one of many things happening at Microsoft that’s overshadowing LinkedIn. Those market dynamics have buoyed LinkedIn, which was only generating $3 billion in revenue when Microsoft bought it.

Persons: Satya Nadella, Steve Ballmer, There’s, Mark Zuckerberg, Tesla, Elon Musk, faddish, Microsoft’s, It’s, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, LinkedIn, Nokia, aQuantive, Activision, Microsoft, Facebook, Twitter, Sprout Social, Bing, Thomson

☆ Thames Water woes could have bigger ripples
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 28 (Reuters Breakingviews) - The UK government is working on plans to nationalise Thames Water, Sky News reports. The indebted utility, which lost its chief executive on Tuesday, may be placed into a special administration regime, with ministers worrying about the company's ability to shoulder 14 billion pounds of debt. UK water companies, privatised by Margaret Thatcher in the 1980s, were supposed to be sleepy investments churning out inflation-proof dividends. Thames, owned by Macquarie (MQG.AX) until 2017, had debt equivalent to 80% of its 17.9 billion pounds regulator-defined asset value last September. Its current shareholders, which include Ontario Municipal Employees Retirement System and China Investment Corporation, last year pledged to invest 1.5 billion pounds to prop it up.

Persons: Margaret Thatcher, Neil Unmack, Eli Lilly, Aston Martin, George Hay, Streisand Neto Organizations: Reuters, Sky News, Macquarie, System, China Investment Corporation, Twitter, Thomson Locations: Thames, Yorkshire, Ontario, Canada

☆ ICICI Bank is dealmaking from a place of strength
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

The $80 billion ICICI Bank (ICBK.NS) is weighing up a delisting of its broking firm ICICI Securities (ICCI.NS), the news prompted a 10% rally in the shares of the $2.4 billion unit. This time the country’s second largest private sector lender is dealmaking from a position of strength. It was one among a flurry of subsidiary IPOs that battered lenders including State Bank of India (SBI.NS) undertook to generate cash. ICICI Bank was particularly vulnerable, with then CEO Chanda Kochhar battling allegations of dodgy lending to the Videocon group. ICICI Securities trades at roughly 18 times trailing earnings but went public at more than twice that valuation, Centrum Broking calculated at the time.

Persons: Chanda Kochhar, Sandeep Bakhshi, Shritama Bose, Blackstone, Aston Martin, Una Galani, Thomas Shum Organizations: Reuters, ICICI Bank, ICICI Securities, State Bank of India, Twitter, Siemens, Telecom Italia, Vivendi, Thomson Locations: MUMBAI, Canada

☆ Meta is giving parents more visibility into who their teens are messaging on social media
▼ + stars: | 2023-06-27 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

The features announced Tuesday come as Meta (META) and other social media platforms face heightened pressure from lawmakers over the impact that their platforms have on younger users, who can be just 13 when they sign up for Meta (META)’s apps. Another new feature is the ability for parents and teens to have discussions directly through notifications if their accounts are synced up. On Facebook, Meta will start to nudge teen users to take time away from the app after 20 minutes. Instagram will add introduce a new nudge that suggests teens close Instagram if they’re scrolling Reels videos for too long during nighttime hours. Instagram, for example, has since introduced an educational hub for parents with resources, tips and articles from experts on user safety.

Persons: “, ” Diana Williams, they’re, it’s, they’ve Organizations: New, New York CNN, Meta, Facebook, CNN Locations: New York, Meta

☆ Yacht maker’s westward detour comes at a price
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 27 (Reuters Breakingviews) - Hong Kong-listed Ferretti went the extra mile to ensure its shares could finally trade in Europe. At 13 times its expected 2023 net profit , Ferretti traded at a discount to rival Sanlorenzo’s (SNL.MI) 15 times multiple. That’s a modest outcome for a company that has laboured since 2019 to try and list in its Italian home base. That compares to the 2.5% fee Italian gambling company Lottomatica (LTMC.MI) paid for its Milan market debut in May. Weichai will still hold on to nearly a third of Ferretti’s shares after its Milan listing.

Persons: Ferretti, pricey Riva speedboats, Sanlorenzo’s, Weichai, Goldman Sachs, Danilo Iervolino, Karel Komárek, Alberto Galassi, Yawen Chen, Aston Martin, Lisa Jucca, Oliver Taslic Organizations: Reuters, JPMorgan, Milan, Twitter, ICICI Bank, Siemens, Thomson Locations: Hong Kong, Europe, Milan, Abu Dhabi, China, Canada

☆ Eli Lilly gorges on obesity options
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, June 27 (Reuters Breakingviews) - Eli Lilly (LLY.N) has filled its plate with potential obesity treatments, unveiling data from two more on Monday. With so many options under development at Lilly, Novo Nordisk (NOVOb.CO) and others, it raises reasonable questions about capital allocation. Obesity drugs have investors salivating, but is this just more pharmaceutical R&D overkill? Pfizer’s cholesterol-lowering Lipitor, for one, reached consumers after rivals, and a decade after Merck’s version. Lilly’s research budget, projected at 24% of revenue this year, exceeds that of many peers, including Pfizer’s (PFE.N) 19%.

Persons: Eli Lilly, Robert Cyran, Aston Martin, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Novo Nordisk, Twitter, Vodafone, Thomson Locations: Lilly, China, Canada

☆ China-bashing throws Vodafone a curveball
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 27 (Reuters Breakingviews) - Vodafone's (VOD.L) M&A ambitions in Britain are falling prey to anti-China rhetoric. Parliamentarians are also fretting over the security impact on contracts with government departments once the deal goes through. Vodafone may face similar scrutiny, leading to inevitable delays. The fact that CK Hutchison has retained the right to appoint the chief financial officer may be a red flag. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: CK Hutchison's, Li Ka, Franco, Patrick Drahi, Hakan Koc, Pyrros Koussios, Roman Abramovich, CK Hutchison, Pamela Barbaglia, Aston Martin, Lisa Jucca, Streisand Neto Organizations: Reuters, HK, Vodafone, BT, UK's National Security and Investment Act, Twitter, Siemens, Thomson Locations: Britain, China, Hong Kong, Canada

☆ Blackstone deal is a bright spot in gloomy sector
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, June 26 (Reuters Breakingviews) - The U.S. commercial real estate industry is mired in gloom, but some pockets are still sunny. The portfolio includes 14 million square feet of industrial properties in cities like Atlanta, Phoenix and Dallas, and the deal is premised in part on rising rents. According to the two companies, the net operating income generated by the warehouses is 4% of the acquisition price. Meanwhile, listed real estate investment trusts which own industrial warehouses trade at a narrowing discount to net asset value, according to S&P Global Market Intelligence. In a gloomy sector, so-called big boxes are a bright spot.

Persons: Steve Schwarzman, Avison Young, Jennifer Saba, Aston Martin, Peter Thal Larsen, Oliver Taslic Organizations: YORK, Reuters, U.S, P Global Market Intelligence, Twitter, Siemens, Telecom Italia, Vivendi, Thomson Locations: Atlanta, Phoenix, Dallas, Canada

☆ Aston Martin pulls out of slow lane in EV race
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 26 (Reuters Breakingviews) - Aston Martin Lagonda’s (AML.L) route to viability is a brain-teaser worthy of Q, James Bond’s quartermaster famous for turning everyday objects into whizzy tools. The 2.6 billion pound carmaker’s latest deal with $11 billion Lucid (LCID.O) shows the marque made famous by the fictional spy is, however, making progress. The deal with Lucid – majority-owned by the PIF, handily enough – will make Aston’s ambition to roll out its first electric vehicle by 2025 more credible. The deal sent Aston shares up over 9% in early Monday trading. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Aston Martin Lagonda’s, Q, James Bond’s, Aston, Lawrence, –, Mercedes, Neil Unmack, George Hay, Oliver Taslic Organizations: Reuters, Jefferies, Public Investment Fund, Porsche, Mercedes, Benz, U.S, Aston, Twitter, Canada, Siemens, Telecom Italia, Vivendi, Thomson

☆ Why this in-flight magazine is the fashion industry’s new must-read
▼ + stars: | 2023-06-25 | by ( Nick Remsen | ) edition.cnn.com time to read: +7 min

Model Ismael Savane pictured in an Air Afrique T-shirt during Paris Fashion Week Mens Spring-Summer 2023 on June 23, 2022 in Paris. “We want to revive the African transcendence that Air Afrique represented,” Lamine Diaoune, the founder and creative director of the Air Afrique collective, said in a statement. It really was about more than just flights.”An Air Afrique stewardess, pictured during training in Abidjan, Côte d’Ivoire, in 1971. The cover of Air Afrique magazine's first issue, featuring the French rapper Tiakola (far right). (All members of the Air Afrique collective have backgrounds in creative fields; each also has projects outside of the group, too.)

Persons: Michel Renaudeau, Côte, Senegal —, Ismael Savane, Melodie Jeng, ” Lamine Diaoune, ”, Djibi Kébé, ” Kébé, “, Côte d’Ivoire, they’ve, Bottega, Tiakola, Lamine Diaoune, Djiby Kébé, Jeremy Konko, Amandine Nana, Zhedy Nuentsa, Bamba Thiam, Axel Pelletanche, ” Nana, Paul Kodjo, Marie, Hélène Tusiama, Tusiama, ’ ” Pope Jean, Paul II, Jean, Claude Delafosse, Pope Jean, Abdel El Tayeb, El Tayeb, Matthieu Blazy, El Tayeb’s Organizations: France CNN, Afrique, Air, Central African, Paris, Centre Pompidou, Air Afrique, “, Air Afrique Air Afrique’s, Franco, El Locations: Paris, France, New York City, Mauritania, Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Côte d’Ivoire, Gabon, Niger, Republic of, Congo, Senegal, West Africa, New York, Abu Dhabi, Europe, Abidjan, Côte, Dakar, West, Africa, Ivory Coast, ”, ‘, Sudanese, El

☆ The Race to Prevent ‘the Worst Case Scenario for Machine Learning’
▼ + stars: | 2023-06-24 | by ( Issie Lapowsky | ) www.nytimes.com time to read: +1 min

Dave Willner has had a front-row seat to the evolution of the worst things on the internet. He started working at Facebook in 2008, back when social media companies were making up their rules as they went along. It didn’t take long in the job before Mr. Willner found himself considering a familiar threat. “I am not surprised that it was a thing that people would attempt to do,” Mr. Willner said. “But to be very clear, neither were the folks at OpenAI.”For all of the recent talk of the hypothetical existential risks of generative A.I., experts say it is this immediate threat — child predators using new A.I.

Persons: Dave Willner, Willner, Facebook’s, “ Hitler, OpenAI, Dall, Mr Organizations: Facebook Locations: San Francisco

☆ Tesla vs. Meta cage fight already has a winner
▼ + stars: | 2023-06-23 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

But what if Meta Platforms (META.O) and Tesla (TSLA.O), the companies they run, were pitted in a theoretical brawl? And while Meta is larger by revenue, Tesla is growing faster. Both Tesla and Meta are trying to reshape the world. CONTEXT NEWSTesla Chief Executive Elon Musk tweeted on June 20 that he would be “up for a cage match” with Meta Platforms boss Mark Zuckerberg. Musk made the comments in response to posts about Meta developing a rival social media platform to Twitter, which Musk owns.

Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, Musk, Tesla, John Foley, Katrina Hamlin Organizations: YORK, Reuters, Reuters Graphics Reuters, Refinitiv, buybacks, Meta, Shareholders, Apple, Twitter, Thomson

☆ Canada is calling Meta’s bluff
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

If Australia is any guide, Meta’s intended blackout will likely be short-lived. Meta has insisted it is unfair to expect the company to pay publishers when it drives traffic to their websites. Lawmakers are pushing for similar rules in Meta’s home state of California and in the U.S. Congress. Meta says it makes 40% of its revenue, which was $117 billion last year, in the U.S. and lists Australia and Canada among its most significant regions. If Canada calls Meta’s bluff, the tech giant may just as easily fold against Uncle Sam.

Persons: Meta, Mark Zuckerberg’s, Uncle Sam, Anita Ramaswamy, Jennifer Saba, Katrina Hamlin Organizations: YORK, Reuters, Facebook, Google, U.S . Congress, Meta, Twitter, Siemens, Telecom Italia, Vivendi, Intel, Thomson Locations: Canada, Australia, California, U.S

☆ Here’s what we know about Meta’s planned Twitter competitor that has Elon Musk upset
▼ + stars: | 2023-06-22 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Meta Platforms CEO Mark Zuckerberg speaks about the Facebook News feature at the Paley Center For Media in New York on Oct. 25, 2019. For months, Meta has been working on a Twitter-like, text-based social media network that would compete with Twitter and the bevy of clone apps that have gained prominence since Elon Musk took Twitter private in 2022. News of the plans have inspired a public spat between Musk and Meta CEO Mark Zuckerberg, culminating in a joking challenge to engage in a physical "cage match" fight in Las Vegas. But given deep cuts to trust and safety teams at Meta and throughout the social media industry, content moderation may prove to be a challenge. Many advertisers fled Twitter after controversial content surged in the wake of Musk's acquisition.

Persons: Mark Zuckerberg, Meta, Elon Musk, Here's what's Organizations: Facebook, Paley Center For Media, Twitter, Elon, CNBC, Meta Locations: New York, Las Vegas

☆ Microsoft Says It Could Abandon Activision Deal if Judge Delays It
▼ + stars: | 2023-06-22 | by ( Kellen Browning | David Mccabe | ) www.nytimes.com time to read: +2 min

On Wednesday, it sued Amazon over allegations that the company tricked users into signing up for its Prime subscription service. has had setbacks: Its challenge to Meta’s purchase of a virtual reality start-up fell apart this year after a judge declined to stop the deal from closing. But that court does not have the legal authority to stop the deal. asked the federal court to step in this month, saying it feared Microsoft would try to complete the deal despite the legal challenges. would be a sign that its broader challenge has legs, and could put new pressure on Microsoft and Activision to reconsider the multibillion-dollar corporate marriage.

Persons: Wilkinson, ”, Jim Ryan, Meta, Microsoft’s, Corley’s Organizations: Microsoft, Activision, Nintendo, Nvidia, PlayStation, Sony, Amazon

☆ Meta to Lower Age for Users of Virtual Reality Headset to 10 From 13
▼ + stars: | 2023-06-16 | by ( Mike Isaac | Adam Satariano | ) www.nytimes.com time to read: +1 min

Meta said it would require a preteen’s parental approval to set up an account, and that young users would only see apps and content rated for the preteen age group. The Quest headset allows people to enter the so-called metaverse, an immersive online world, and to play virtual reality games and do other tasks. Over the past year, Meta has slowly been moving the age restrictions for its virtual reality apps lower to reach younger audiences. In April, the company said it would allow people under 18 to use Horizon Worlds, Meta’s virtual reality-based social network. Horizon Worlds will remain restricted to users 13 and older, as reported earlier by The Verge.

Persons: Meta Organizations: Facebook, Meta

☆ Meta lowers the minimum age for its Quest headsets from 13 to 10
▼ + stars: | 2023-06-16 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Facebook-parent Meta plans to lower the minimum age for its virtual reality headsets from 13 years old to 10 years old, despite pressure from lawmakers not to market its VR services to younger users. In its Friday blog post, Meta said parents will be able to set time limits and enforce breaks for their preteens on the headsets. Meta also makes it possible to cast content from its VR headsets to a TV or phone screen, so parents can watch what their kids are seeing. Meta’s headset and Horizon Worlds represent Zuckerberg’s vision for a next-generation internet, where users can interact with each other in virtual spaces resembling real life. Update: This story has been updated to reflect Meta’s plan to continue restricting Horizon Worlds to users 13 and older.

Persons: Preteens, Meta, ” Meta, Massachusetts Sen, Ed Markey, Connecticut Sen, Richard Blumenthal, Mark Zuckerberg Organizations: New, New York CNN, Facebook, Connecticut, CNN, Meta Locations: New York, Massachusetts, United States, Canada, Europe

Tech giants Microsoft and Alphabet/Google have seized a large lead in shaping our potentially A.I.-dominated future. of Alphabet/Google, unveiled a suite of A.I. While there is some discussion as to whether Meta’s recent decision to give away its A.I. History has repeatedly demonstrated that control over information is central to who has power and what they can do with it. At the beginning of writing in ancient Mesopotamia, most scribes were the sons of elite families, primarily because education was expensive.

Persons: Sundar Pichai Organizations: Tech, Microsoft Locations: ChatGPT, Mesopotamia, Europe

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