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Facebook Stock Has Bigger Problems Than That Ugly Earnings Report

Facebook Stock Has Bigger Problems Than That Ugly Earnings Report

Facebook’s share price plunged after an ugly quarterly report. A rise in the company’s operating costs spooked investors. But Facebook has bigger problems over the long term. There’s a simple reason why Facebook stock is in free-fall today. The Mark Zuckerberg-led social media giant has peaked. FB shares slid more than 6% on Thursday after…

Facebook, Google Rake in Election Ad Spending While Twitter, Spotify Say No

Facebook, Google Rake in Election Ad Spending While Twitter, Spotify Say No

Presidential candidates have already spent more than $105 million on digital ads. Facebook and Google are getting most of the dough. Spotify just joined Twitter in rejecting these election ads outright. With billionaires like Tom Steyer and Michael Bloomberg splashing their cash around, the airwaves have been filled with 2020 presidential election ads. The political…

Facebook Stock Got Hammered Because the FTC Plans App Crackdown

Facebook Stock Got Hammered Because the FTC Plans App Crackdown

The Federal Trade Commission is weighing an injunction against Facebook. Facebook stock fell as much as 5% on the news. Mark Zuckerberg’s PR efforts have failed to sway public opinion. On Thursday, The Wall Street Journal reported that the Federal Trade Commission (FTC) is preparing a potential injunction against Facebook. The agency claims that Facebook’s…

Uber Wants to Be Like Facebook as It Pushes Into Finance; Bad News for Drivers

Uber Wants to Be Like Facebook as It Pushes Into Finance; Bad News for Drivers

Uber has entered the financial services industry with Uber Money. The new service helps drivers and couriers get their earnings after each ride. Uber Money is likely to drive loyalty of customers while making it difficult for drivers to quit. Tech titans are muscling their way into the financial services industry. Facebook has recently grabbed…

Tim Cook Lands Facebook Jab to Confirm Apple Won’t Develop a Cryptocurrency

Tim Cook Lands Facebook Jab to Confirm Apple Won’t Develop a Cryptocurrency

Apple CEO Tim Cook confirmed to Les Echos on Thursday that the American smartphone giant won’t be taking steps to develop its own cryptocurrency. As the Facebook debacle continues, mainstream media has been left to speculate on who next will wade into the murky waters of decentralized payment systems. When asked how Apple would respond…

Why Facebook & Goldman Sachs Keep Poaching Each Other’s Engineers

Why Facebook & Goldman Sachs Keep Poaching Each Other’s Engineers

Some say that Silicon Valley is the new Wall Street, but could there be deeper reasons why tech companies like Facebook compete with banks like Goldman Sachs for engineers? It used to be banks that attracted the brightest. Before the financial crisis of 2008, Wall Street loved to hire mathematicians, physicists, and even rocket scientists…

Facebook Kisses up to Banks as Pushback Threatens Libra Crypto – CCN.com

Facebook Kisses up to Banks as Pushback Threatens Libra Crypto – CCN.com

The conspicuous absence of even a single bank as a founding member of Facebook’s cryptocurrency project was never “intentional,” according to the co-creator of  Libra, David Marcus. Facebook, he said, would love to have banks involved. No banks in Libra Association? No worries In an interview with Swiss newspaper Neue Zurcher Zeitung, Marcus revealed that…

Facebook Stiffs Russia Over Wallet-Busting $46 Fine – CCN.com

Facebook Stiffs Russia Over Wallet-Busting $46 Fine – CCN.com

Despite having a CEO who is the fifth-richest person in the world, Facebook failed to pay a $46 dollar fine to Russian authorities. | Source: Justin Sullivan / Getty Images / AFPDespite having a CEO who is the fifth-richest person in the world, Facebook failed to pay a $46 fine to Russian authorities.The fine originated…