The company, which has also been under criticism for not doing enough to thwart cyber bullying, said on Tuesday that it would upgrade some features to curb abusive behavior.
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Facebook is buying back up to $6 billion of its stock from shareholders, the company announced in a SEC filing on Friday. Facebook said the repurchase program will go into effect in the first quarter of 2017 and does not have a fixed expiration date. The company said the buybacks will be consistent with Facebook's "capital allocation strategy of prioritizing investment to grow the business over the long term." Shares in Facebook rose over 1% on the news in after hours trading. Facebook also announced that its chief accounting officer, Jas Athwal, is retiring after 9 years at the company in a separate filing. His last day will be Feburary 27. It's uncommon for tech companies like Facebook to return cash to shareholders through buybacks or dividends, as they generally prefer to spend their cash on growth opportunities. This is Facebook's first ever buyback program. Facebook has roughly $26 billion in cash and short term securities on its balance sheet. Its stock sunk more than 8% earlier this month after the company warned investors that revenue growth rates will decline in the coming quarters, while 2017 will be an "aggressive investment year." SEE ALSO: Facebook's forecast of a slowdown isn't a reason to panic, according to Wall Street The world's biggest online social network on Wednesday launched a new blog on its website called Metrics FYI, where it will share updates and corrections for its data.
Over-the-Top (OTT) Provider & Internet Protocol Television (IPTV) Now Supports Casting to Vizio TV from iOS and Android Devices
It's been a tough week for Mark Zuckerberg's company. First it was fake news complaints; now it's acknowledging bad user metrics. Neither is good.
The social network's well-documented difficulty with users' bad behavior may well be its biggest concern. But at least its executives admit it is a problem.
The shifts comes as Google, Facebook and Twitter face a backlash over the role they played in the U.S. presidential election.
Donald Trump rode a wave of American discontent on his way to the White House. A major chunk of it, which spoke to a big swath of voters, centered on trade, and the desire to bring a certain type of working-class job back to America. Trump's most frequent target in this vein has been China. The president-elect has previously pledged to declare China a currency manipulator (something economists have disputed) and has threatened to slap as much as a 45% blanket tariff on Chinese imports (something he can't legally do in one fell swoop). We don't know if Trump will try to follow through on these claims, but now that he's in a position to do so, a Chinese state-run newspaper suggested the country would retaliate should Trump's bark turn to bite. Sales of iPhones and Boeing airplanes in the country were mentioned as vulnerable to a potential setback. It all has people fearing a trade war - and that could mean particularly tricky days for the tech industry. As this chart from Statista shows, âcomputers and electronicsâ was the second leading export category from the US to China last year. If trade policies between the two nations become more aggressive, that business could take a notable step back - while prices on electronics in the US could go up. SEE ALSO: Here's what most people do with their old smartphones after they buy a new one Join the conversation about this story » NOW WATCH: The 'Apple of China' just unveiled a phone that's more powerful and better looking than the iPhone Custom Legal Marketing Wins Gold MarCom Award for Brill Legal Group Website
Body of evidence for the mechanisms of action behind the cognitive performance ingredient continues to grow
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April 2017
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