Meta plans to reduce around 1,500 positions in Reality Labs as Zuckerberg focuses more on AI.
Meta Plans Major Layoffs in Reality Labs Division Meta is gearing up to lay off approximately 1,500 employees from its Reality Lab division, which represents around 10% of the 15,000 strong workforce. This action may happen as early as this week, signifying a significant pivot towards artificial intelligence. The layoffs are expected to affect teams […]
Meta Blocks 550,000 Accounts in First Week of Australia’s Teen Social Media Ban
Meta Blocks Accounts Amid Australia’s Teen Social Media Ban Meta has reportedly removed about 550,000 user accounts from its platforms during the first week of Australia’s newly implemented ban on social media accounts for individuals under the age of 16. In this initial phase, the company saw the deletion of 330,639 accounts on Instagram, 173,497 […]
Dina Powell McCormick Appointed President and Vice-Chair of Meta
Dina Powell McCormick, who has built a substantial career in global finance and served in senior roles during the Bush and Trump administrations, has been appointed President and Vice Chairman of Meta. This decision has garnered praise from both President Donald Trump and her husband, Senator Dave McCormick (R-Pa.). Powell McCormick has been involved with […]
Meta Appoints Ex-Trump Official and Senator’s Wife to Key Position
Meta Platforms Announces New President On Monday, Meta Platforms appointed Dina Powell McCormick, a former adviser to President Trump, as its new president and vice chair. This technology conglomerate oversees notable platforms like Facebook, Instagram, and WhatsApp. Powell McCormick, who is married to Pennsylvania Republican Senator Dave McCormick, previously served as the vice presidential national […]
Meta states that Australia’s ban on social media for those under 16 is not working — after disabling nearly 550,000 accounts.
Meta is urging Australia to rethink its ban on social media accounts for those under 16. In a recent compliance effort, the company reported that it had blocked nearly 550,000 accounts suspected to belong to teenagers within just one week. From December 4 to December 11, following the implementation of new laws, Meta identified and […]
Meta hires Wall Street executive Dina Powell McCormick
Meta Welcomes New President with Strong Financial Ties Meta has recently brought on board a significant figure from Wall Street. Dina Powell McCormick, a former Goldman Sachs executive, known for her connections with key financial leaders globally and for advising two U.S. presidents, is stepping in as the company’s inaugural president and vice chair. With […]
Meta, led by Mark Zuckerberg, secures significant nuclear energy agreement to supply power for AI data centers.
Meta Unveils Nuclear Deals to Support AI Infrastructure On Friday, Meta Inc., led by Mark Zuckerberg, announced a series of nuclear agreements designed to enhance its growing AI infrastructure across the United States. Meta has formed significant partnerships with reactor developers like TerraPower and Oklo, alongside a notable agreement to acquire power from three operational […]
Meta accused of removing scam ads to avoid government oversight
Meta has stated that it removed ads from its platform to combat fraud, not to conceal them. However, internal documents suggest there were efforts to make specific ads “undetectable” to regulators. Following backlash from Japanese regulators about apparent fraudulent activities promoting fake endorsements and investment schemes on Facebook and Instagram, Meta reportedly started removing potentially […]
Key analyst recommendations for Wednesday: Nvidia, Apple, Micron, McDonald’s, Hershey, Amazon, Meta, and others
Wall Street’s Top Updates On Wednesday, key developments emerged from Wall Street that caught the attention of investors. First off, UBS has revised its price target for Micron Technology, increasing it from $300 to $400 per share. They mentioned hosting several optimistic meetings with Micron’s executives, which influenced their positive outlook on the company’s sustainability […]
S&P 500 and Nasdaq finish slightly lower in light holiday trading, Meta rises after deal
Market Overview On December 30, the S&P 500 and Nasdaq experienced a slight downturn during volatile trading sessions. Gains in communications services stocks couldn’t fully counterbalance losses in technology and financial sectors, which also impacted the Dow. Communications services emerged as one of the top gainers in the S&P 500, buoyed by a 1.1% increase […]