Australians woke to empty news feeds on their Facebook pages on Thursday after the social media giant blocked all media content in a surprise and dramatic escalation of a dispute with the government over paying for content. Shouldn’t they pay for contents.
Facebook users in Germany would want the social media platform to pay them approximately $8 per month for sharing their contact information, as against users in the U.S. who would only seek $3.50.
“The power held by these companies is large enough to impact not only economic life, but even political life.”
Facebook Inc (FB.O) chief executive Mark Zuckerberg will be grilled by lawmakers over the company’s plan to launch a digital currency and efforts to prevent foreign election interference when he appears before a Congressional panel on Wednesday.
The U.S. Federal Trade Commission imposed a five billion dollar fine on the social media Facebook for violations of privacy, the agency has said.In a statement said that the punishment is the highest against a company for affecting users, and is 20 times more than any penalty of its kind worldwide.