- Sep 16, 2012
- 57,929
- 51,499
- 3,605
Can you imagine if FB and Instagram aren't in Europe? How weird is that?
finance.yahoo.com
". . . Mark Zuckerberg’s Meta warned it may have to pull the plug on its popular social media programs, no matter the cost.
Data privacy issues with the European Union are compounding headaches for the company, which has been the subject of one governance scandal after the other. Last week, Meta suffered the largest one-day wipeout in market cap of any U.S. listed stock in history, following a grim outlook marred by competition from ByteDance's TikTok and $10 billion in Apple-related ad targeting headwinds.
In a 10-K annual filing with the U.S. Securities and Exchange Commission, the company warned investors that failure of the U.S. and EU to reach a new agreement on data transfers could result in Meta deciding to shut down its core operations in the region. That would “materially and adversely” affect its financial performance, it said. . . "
Meta threatens to pull the plug on Facebook and Instagram in Europe over data privacy dispute
Meta threatens to pull the plug on Facebook and Instagram in Europe over data privacy dispute
After suffering a historic rout in its share price, Mark Zuckerberg's social media group warns it may be forced to forfeit up to a quarter of its revenue.
". . . Mark Zuckerberg’s Meta warned it may have to pull the plug on its popular social media programs, no matter the cost.
Data privacy issues with the European Union are compounding headaches for the company, which has been the subject of one governance scandal after the other. Last week, Meta suffered the largest one-day wipeout in market cap of any U.S. listed stock in history, following a grim outlook marred by competition from ByteDance's TikTok and $10 billion in Apple-related ad targeting headwinds.
In a 10-K annual filing with the U.S. Securities and Exchange Commission, the company warned investors that failure of the U.S. and EU to reach a new agreement on data transfers could result in Meta deciding to shut down its core operations in the region. That would “materially and adversely” affect its financial performance, it said. . . "
