Facebook announced new steps Thursday to let people see who is behind ads and other content on the leading social network as it braced for elections in the US and Brazil. The moves come as Facebook strives to avoid the kind of nefarious manipulation of its platform by fake accounts that stoked division and spread misinformation ahead of the US presidential election in 2016. "We have learned across hard issues from election interference to data privacy to fake news that we under-invested in proactively policing the ecosystem that we built," Facebook chief operating officer Sheryl Sandberg told reporters at the company's headquarters in Silicon Valley. "On of the absolutely most important things we can do across our platform is really increasing transparency." Facebook began letting users see all ads a page is running at the social network or at its Instagram or Messenger services. The information can be accessed by clicking on an "Info and Ads" tab added to pages. People will also be … [Read more...] about Facebook boosts ad transparency as it braces for elections
Facebook lead ads
US stocks climbed today as Facebook led a rally by technology companies.Most of the market moved higher as interest rates declined from the four-year highs reached over the last few days.Facebook saw its stock price wither last month after its data privacy scandal, but shares surged on Thursday as the controversy did not appear to affect the social media platform's business in the first quarter.Other big technology companies like Alphabet and Microsoft also rallied and reversed some of their recent losses.Strong first-quarter results from companies including Chipotle Mexican Grill and O'Reilly Automotive helped retailers and other consumer-focused companies.Amazon surged and energy companies also climbed. Stock indexes rose and interest rates decreased after a Commerce Department survey showed business investment decreased in March for the third time in the last four months.Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute, said investors were happy … [Read more...] about US stocks rise as Facebook leads rally for tech firms
Germany aims to pass new laws on social media after revelations that Facebook data was used to manipulate voters. "In future we will clearly have to monitor companies like Facebook more strictly and punish data protection violations severely and quickly," German justice minister Katarina Barley told press in Berlin on Monday (26 March). "We'll need much tighter supervision of companies like Facebook", she added. She spoke after meeting Richard Allan, the head of the US social media firm's public policy for Europe, but she said that his "promises were not enough" to satisfy authorities. Barley added that firms like Facebook should tell users in "clear, precise and simple language" how their data will be used, and described what happened at the US firm as "intolerable". She spoke after revelations that UK consultancy firm Cambridge Analytica used a bogus questionnaire to obtain detailed information on 50 million Facebook users. About 2,700 people out of the 270,000 who took part in … [Read more...] about Germany pledges ‘strict’ laws after Facebook data breach
Facebook Inc. users who are worried that advertisers harvested their data to manipulate them with political propaganda have a potentially powerful tool to break the spell: a button on the corner of each Facebook ad that says, “Why am I seeing this?"Yet, rather than providing unfiltered transparency, this Facebook function is instead feeding users frequently misleading—and sometimes untrue—reasons for why they’ve been targeted, Bloomberg Businessweek tests of the function suggest. The findings are corroborated by a new academic study of thousands of test ads that found Facebook’s explanations, “often omitting key details that would allow users to understand and potentially control the way they are targeted.”As co-founder Mark Zuckerberg and his government regulators grapple with the Cambridge Analytica scandal and alleged 2016 election meddling, Facebook’s “Why am I seeing this?" button is an innovation with great promise. By letting … [Read more...] about Does Facebook’s Ad Tool Mislead Voters?
Former US president Barack Obama reportedly warned Facebook CEO Mark Zuckerberg to take the threat of fake news on the platform seriously in a meeting weeks after the election last year. Obama reportedly pulled Zuckerberg aside at the Asia-Pacific Economic Cooperation summit in Peru on 19 November, warning the tech executive that the issue would only get worse in the next election if left unchecked, The Washington Post reported Sunday (24 September).Although Zuckerberg acknowledged the issue, he reportedly told Obama that such messages were not as widespread on the site and that there was no easy fix for it, people briefed on the conversation told The Post.Prior to Election Day, Obama voiced serious concerns over Facebook's fake news problem saying it was creating a "cloud of nonsense" and leading many people to believe "outright lies" and "crazy stuff.""The way campaigns have unfolded, we just start accepting crazy stuff as normal and people if they just repeat attacks enough and … [Read more...] about Obama warned Facebook’s Mark Zuckerberg about threat of fake news after presidential election