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Business 24 Jul 2019 | 12:48 AM

Facebook pay US$5bil to US to settle allegations

WASHINGTON: The Federal Trade Commission is set to announce on Wednesday that Facebook Inc has agreed to a sweeping settlement of significant allegations it mishandled user privacy and pay US$5 billion, two people briefed on the matter said.

Business 01 May 2019 | 12:47 AM

Facebook overhauls design as it pivots to private messaging

SAN JOSE, Calif.: Facebook Inc debuted an overhaul of its core social network on Tuesday, taking its first concrete steps to refashion itself into a private messaging and e-commerce company as it tries to move past scandals while tapping new revenue sources

Corporate News 10 Jul 2018 | 11:07 PM

Facebook to be fined

LONDON: Britain's information regulator said on Wednesday she intends to fine Facebook for breaches of data protection law as her office investigates how millions of users' data was improperly accessed by consultancy Cambridge Analytica.

Corporate News 31 May 2018 | 12:00 AM

CTO: Facebook is a lot more ‘pessimistic’ since data scandal

SAN FRANCISCO: Facebook Inc has developed a “much sharper and more pessimistic view” of all the bad things that can happen on the social network since the Cambridge Analytica data leak scandal, chief technology officer Mike Schroepfer said.

Corporate News 01 May 2018 | 10:49 PM

Facebook to play cupid in online dating debut

SAN JOSE, Calif.: Facebook Inc is entering the dating game, Chief Executive Mark Zuckerberg said on Tuesday, planning a dating service to matchmake millions of people on the world's largest online social network and nudge them into spending more time there.

Corporate News 22 Sep 2017 | 10:54 PM

Zuckerberg nixes new Facebook share class, fulfills pledge to give away wealth

WILMINGTON, Del.: Facebook Inc Chairman Mark Zuckerberg abandoned plans on Friday to create a new class of company stock with no voting power, which was meant to be a way for Zuckerberg to retain control over the company he founded while fulfilling a pledge to give away his wealth.

Technology 10 Aug 2017 | 1:11 AM

Facebook makes biggest move to date for TV viewers with expanded video

SAN FRANCISCO: Facebook Inc on Wednesday made its biggest move to date to compete in the television market by expanding its video offerings with programming ranging from professional women's basketball to a safari show and a parenting programme.

Corporate News 25 May 2017 | 11:12 PM

Facebook's Zuckerberg urges Harvard grads to contemplate risk

CAMBRIDGE, Mass.: Faebook founder billionaire Mark Zuckerberg returned on Thursday to Harvard University, the school he dropped out of to start the pioneering social network, to urge its graduating class to help create a new social safety net to allow creative risk-taking.

Business 08 Jun 2016 | 10:58 PM

Bain & Co.'s Bob Becheck tops highest rated US CEOs

NEW YORK: Bain & Co.'s Bob Becheck tops Glassdoor's survey of the highest rated U.S. CEOs, but tech company executives dominate the list. Fred Katayama reports. Facebook's Mark Zuckerberg and Apple's Tim Cook among the top.