News highlights for 22 March
REUTERS/Lucas Jackson/File Photo
Instagram hits milestone million advertisers
SAN FRANCISCO (Reuters) – Instagram is expected to announce on Wednesday that it has reached more than 1 million monthly active advertisers, as the Facebook Inc-owned photo-sharing app tries to become a center of online commerce. Read more…
Vestager reviewing Facebook response to WhatsApp purchase information
BRUSSELS (Reuters) – EU antitrust chief Margrethe Vestager said on Wednesday she was reviewing Facebook’s response to charges the U.S. social network provided misleading information during its bid for messaging service WhatsApp which may result in a hefty fine for the company. Read more…
Tencent posts 47 percent quarterly rise in profits
HONG KONG (Reuters) – Tencent Holdings Ltd, China’s biggest social media and online entertainment company, posted a 47 percent rise in quarterly profit on Wednesday, helped by strong growth in new revenue streams such as payment and cloud services. Read more…
Snap shares snap back, up 9 percent
SAN FRANCISCO (Reuters) – Shares of Snap Inc jumped 9 percent on Wednesday after the owner of messaging app Snapchat received a second analyst “buy” rating following a red-hot public listing this month and with Wall Street skeptical about its lofty valuation. Read more…
Pakistan to take action against blasphemy on social media
ISLAMABAD (Reuters) – Pakistan will punish social media companies that fail to take action against online blasphemy, the interior minister said on Wednesday, adding that he had requested a meeting with Facebook. Read more…
Intel’s Mobileye deal will fuel funding for high tech sector in Israel
TEL AVIV (Reuters) – Intel’s $15.3 billion acquisition of Mobileye has catapulted Israeli hi-tech into the global league, and is likely to stimulate investment in the sector’s other late-stage startups, where funds are most needed. Read more…
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