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Facebook-parent Meta has said that its inability to transfer data “between and among countries and regions” in which it operates could affect its ability to provide services to its users and therefore impact its financial results. The company said this in its annual statement to the US Securities and Exchange Commission, the country’s financial authority. “If we are unable to transfer data between and among countries and regions in which we operate, or if we are restricted from sharing data among our products and…

Australia announced Friday it is suing Facebook owner Meta over scam adverts for cryptocurrency schemes that falsely claimed to be endorsed by prominent figures.Australia's consumer protection commission said it had started Federal Court proceedings against Meta Platforms for "false, misleading or deceptive conduct" in breach of consumer or securities laws. It accused Meta of failing to do enough to stop scam ads for cryptocurrency or money-making schemes, even after being alerted by celebrities who had been…

Facebook-parent Meta Platforms is planning additional layoffs to be announced in multiple rounds over the next few months, which could match the 13% job cut tally from last year, the Wall Street Journal reported on Friday citing people familiar with the matter.Meta let go of 11,000 employees four months ago and would be the first Big Tech company to announce a second round of mass layoffs.The first wave of the new cuts would be announced next week and are likely to hit non-engineering roles the hardest, according to the…

Meta Platforms Inc said on Tuesday it will continue to release its artificial intelligence (AI) tools to approved researchers despite claims on online message boards that its latest large language model (LLM) had leaked to unauthorised users."While the model is not accessible to all, and some have tried to circumvent the approval process, we believe the current release strategy allows us to balance responsibility and openness," Meta said in a statement.Facebook-owner Meta maintains a major AI research arm and last month…

After a long battle with FTC, Facebook-parent company Meta has been permitted to acquire VR firm After the US Federal Trade Commission (FTC) attempted to reject the merger because it would eliminate market competition, Facebook-parent company Meta has now allegedly been permitted by a judge to complete its acquisition of virtual reality firm Within Unlimited and now Meta plans to expand Metaverse project. According to sources familiar with the decision, a US court rejected the FTC’s request for a preliminary order to…

Facebook-parent Meta Platforms Inc said that its India head, Ajit Mohan, has stepped down after four years, while a media report said he would join rival Snap Inc. Manish Chopra, director and head of partnerships at Meta India, will take over in an interim capacity, a company spokesperson said. Mohan will serve as the president of the Asia-Pacific business, Techcrunch reported, citing sources.Read Also "Over the last four years, he (Ajit Mohan) has played an important role in shaping and scaling our India operations,"…

Facebook-parent Meta reported Wednesday that its profit more than halved to $4.4 billion (roughly Rs. 36,210 crore) in the third quarter from $9.2 billion (roughly Rs. 75,700 crore) a year earlier, and said it plans "significant changes" to bolster efficiency in a tough economic environment. The social networking giant, which faces stagnating user numbers and cuts in advertising budgets, also said revenue slipped to $27.7 billion (roughly Rs. 2,28,000 crore) from $29 billion (roughly Rs. 2,38,600 crore) a year…

Facebook META -3.67% parent Meta Platforms Inc. has told employees that it will be implementing a hiring freeze and will be taking more steps to reduce the company’s costs, according to people familiar with the matter. CEO Mark Zuckerberg notified employees of the hiring freeze on Thursday during his weekly all-hands meeting. The announcement comes after The Wall Street…

Eleven years ago, Facebook was caught red-handed after it hired a prominent public relations firm to try to plant stories harshly criticizing Google's privacy practices in leading news outlets.In 2018, it hired the PR firm Definers to do opposition research on the company's critics, including billionaire philanthropist George Soros. The company's longtime head of communications, Elliot Schrage, took the blame for approving the hiring of Definers and similar firms and left Facebook.On Wednesday, The Washington Post…

Facebook's parent company Meta on Monday said it has created what it believes is among the fastest artificial intelligence supercomputers running today.The social media giant said it hopes the machine will help lay the groundwork for its building of the metaverse, a virtual reality construct intended to supplant the Internet as we know it today.Facebook said it believes the computer will be the fastest in the world once it is fully built around the middle of the year.Supercomputers are extremely fast and powerful machines…