Meta, The Owner Of Facebook, Has Experienced His First Ever Sales Decline

The owner of Facebook and Instagram saw a drop in advertising sales in the three months to July, resulting in the company’s first year-on-year revenue reduction. Meta’s total revenue fell 1% to $28.8 billion (£23.7 billion), although the company avoided a drop in users. Analysts believe the company’s growth has peaked following years of significant…

EU Lawmakers Pass Significant Technology Legislation, But Enforcement Is A Concern

On Tuesday, EU lawmakers approved unprecedented regulations to curb the dominance of digital titans such as Alphabet unit Google, Amazon, Apple, Facebook, and Microsoft, but enforcing them may be difficult due to regulators’ limited resources. Along with the Digital Markets Act (DMA) provisions, lawmakers also approved the Digital Services Act (DSA), which requires Internet companies…

Bitcoin Falls Below $19,000 Once More As Pressure Increases On Cryptocurrency Firms

Bitcoin temporarily dipped below $19,000 on Thursday, as the world’s largest digital currency remains under pressure from macroeconomic concerns and a liquidity crisis among high-profile cryptocurrency firms. According to CoinDesk data, Bitcoin was trading at $19,143.50 at 6:10 a.m. ET, down 4 per cent from the previous day. The digital currency is down over 58…

Swiss Court Convicts Credit Suisse Over Charges Of Money Laundering

Switzerland’s Federal Criminal Court found Credit Suisse and a former employee guilty of not being able to prevent money laundering in what is the country’s first criminal trial of one of its biggest banks. The trial, which included testimony about deaths and cash stashed into bags, is considered as a litmus test for prosecutors considering a harder…

Mark Zuckerberg Anticipates A Billion Individuals Spending Hundreds Of Dollars Each In The Metaverse

On Wednesday, Mark Zuckerberg, CEO of Meta Platforms, told CNBC’s Jim Cramer that the metaverse may be a significant component of the social network operator’s business in the second half of the decade. “We hope to basically get to around a billion people in the metaverse doing hundreds of dollars of commerce, each buying digital…

JD.com In China Experiences Its Weakest Growth Ever During The ‘618’ Shopping Event

Total sales by China’s e-commerce giant JD.com grew 10.3 percent in the 18 days leading up to Sunday during the first major shopping festival following a recent COVID-19 breakout, the firm claimed, a steep decrease from the 27.7 per cent growth seen in the 2021 event. This year’s figure was the slowest for the shop,…

According To Bill Gates, Crypto And NFTs Are “100% Based On Greater Fool Theory”

Bill Gates known to be an opponent of cryptocurrencies and non-fungible tokens. Speaking at a TechCrunch lecture on climate change on Tuesday, the billionaire Microsoft co-founder described the phenomena as “100% based on greater fool theory,” referring to the premise that overvalued goods will rise in value when enough investors are ready to pay more…