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Social media deal earns advertisers’ ‘likes’, but not yet all their dollars

Business Advertisers who boycotted social media are not all rushing back, despite an agreement by Facebook, YouTube and Twitter on how to curb harmful content online. FILE PHOTO: The Twitter App loads on an iPhone in this illustration photograph taken in Los Angeles, California, U.S., July 22, 2019. REUTERS/Mike Blake/File Photo 3 related media assets (image or videos) available. Click to see the gallery. 25 Sep 2020 08:25PM Share this content Bookmark LONDON: Advertisers who boycotted social media are not all rushing back, despite an agreement by Facebook, YouTube and Twitter on how to curb harmful content online. Unilever, one of the world's biggest advertisers, told Reuters the move this week was "a good step in the right direction," but would not say whether it would resume paid advertising on Facebook in the United States next year after stopping over the summer. Advertisement Advertisement Coca-Cola also remains paused on Facebook and Instagram and declined to s..

Business

Facebook critics launch rival oversight board

Business Critics of Facebook Inc, including the architects of an advertising boycott against the company, on Friday launched a rival oversight board to review the company's content moderation practices. FILE PHOTO: A 3D-printed Facebook dislike button is seen in front the Facebook logo, in this illustration taken October 25, 2017. REUTERS/Dado Ruvic/Illustration 25 Sep 2020 07:40PM Share this content Bookmark SAN FRANCISCO: Critics of Facebook Inc, including the architects of an advertising boycott against the company, on Friday launched a rival oversight board to review the company's content moderation practices. The new group, which bills itself as the "Real Facebook Oversight Board," counts among its initial members the heads of three U.S. civil rights groups, the former president of Estonia and the former head of election integrity at Facebook. Advertisement Advertisement The announced launch comes a day after Facebook's officially-mandated Oversight Board..

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China Evergrande Shares, Bonds Suffer Sell-Off on Cash-Crunch Concern

HONG KONG—Investors sold off China Evergrande Group shares and bonds on Friday after a leaked document allegedly showed the nations second-biggest property developer by sales sought government help to avert a cash crunch. The document showed Evergrande asked a local government to support a Shenzhen backdoor listing plan before Jan. 31 or else it would need to repay over $19 billion raised for the listing, which would weigh on its cash flow. Evergrande late on Thursday said the document which had been circulating online was a fabrication and amounted to defamation, and it has reported the matter to the public securities authority. Analysts including those at S&P Global Ratings have said they do not expect a liquidity crunch as the firm has various fund-raising channels, including as much as $117 billion in sales this year, domestic bond issuance, and spin-off plans. An exterior view of China Evergrande Centre in Hong Kong, China, on March 26, 2018. (Bobby Yip/Reuters) On Friday, at..

Business

Facebook Pays $650 Million to Settle Illinois Facial Recognition Lawsuit

Illinois Facebook users are now able to submit claims online and receive payouts between $200 and $400 as part of a $650 million settlement that followed a class-action lawsuit, claiming the social media giant illegally collected and stored biometric data of millions of users without their consent. The lawsuit, that was ongoing for more than five years, accused Facebook, Inc. of violating the states Biometric Information Privacy Act (BIPA), via its “Tag Suggestions” feature and others involving facial recognition technology. The feature allowed users to recognize their Facebook friends from previously uploaded photos. BIPA states that companies cant collect, store, or give out “biometric data,” including face or fingerprint scans, without first giving notice and receiving user consent. Facebook denies it violated any law. Affected users are now able to file claims digitally until Nov. 23 this year. According to the website, “Facebook users located in Illinois for whom Facebook creat..

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