Homepage / Asia / Facebook attacked by critics over 'fake news' — but outside the US this time
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election

Asia

Facebook attacked by critics over 'fake news' — but outside the US this time

Rights and democracy advocates are calling attention to Facebook’s role in spreading misinformation again — this time in the Philippines.

The social media giant’s hosting of inaccurate stories that support strongman President Rodrigo Duterte’s administration has been newly spotlighted after Manila moved to shut down a local news site that had been the victim of a misinformation campaign.

The future of Rappler, a former media partner of Facebook, is in question after a local regulator revoked its operating license on Monday.

“The shuttering of Rappler — an organization whose credibility was undermined as a result of fake news and trolling circulating on Facebook — is a tragic reminder to Facebook of the central role it plays in shaping political discourse,” said Carly Nyst, a human rights lawyer and independent consultant to non-governmental organizations, think tanks, and the private sector.

“It is increasingly untenable for Facebook to deny its role in facilitating the Duterte regime’s clampdown on critical voices,” she added.

In response to such complaints, Facebook told CNBC it has taken steps to ensure the network is a safe space for people to express themselves politically. Those include new tools and technologies to prevent fake accounts, false stories, clickbait, harassment and hate speech.

“We recognize that the same tools that give people more voice can sometimes be abused, by anyone, to spread hoaxes and misinformation,” a company representative said. “We prohibit people from setting up fake accounts and have developed improved automated systems — using machine learning and artificial intelligence — to better identify and remove them quickly.”

The Philippines boasts one of the world’s most active social media populations and is a crucial market for Facebook, which has an office in Manila and recently partnered with Duterte’s administration on a high-speed Internet infrastructure project.

“While Facebook has expressed interest to have partnerships with (academia) and the media to better maximize the platform, it has not lent its voice in denouncing various forms of media harassment and intimidation, or even the prevailing culture of impunity,” said Danilo Arao, associate professor at the University of the Philippines.

Arao said the company, already under fire for its role in propagating inaccurate articles during the 2016 U.S. presidential election, should use its power and influence to take a stand. But he said he doubts that will happen: “It is still a business, and it does not make good business sense to antagonize governments, no matter how repressive they may be, as in the case of the Philippines.”

Still, Nyst argued that the social media platform “needs to wake up to the fact that it can no longer claim neutrality and immunity from responsibility, but rather needs to adhere to journalistic ethics befitting of the world’s largest publisher.”

The Philippine Securities and Exchange Commission revoked the outlet’s operating license on Monday. The regulator claimed the publication’s acceptance of $1 million in funding from a U.S. fund broke a law that bans foreign ownership in media institutions. In response, Rappler has stated that it is owned by Filipinos, and noted that the very same regulator had accepted documentation of the investment in 2015.

Rappler’s criticism of the country’s president is widely believed to have influenced the regulator’s decision. The outlet reported that the government was paying for trolls and bots to spread propaganda — a story that was deemed “fake” by government-aligned accounts on social media.

Duterte this week denied any role in the incident but slammed Rappler content for being “pregnant with falsity.”

Misinformation is a major political issue that has complicated public discourse around Manila’s ongoing drug war.

In fact, many have deemed Monday’s SEC decision as part of Manila’s broader campaign to silence detractors. Phelim Kine, deputy director at Human Rights Watch’s Asia division, called the move “a sinister use of state regulatory processes to stifle critical media voices.”

Rappler was launched as a Facebook page in 2012 and enjoyed triple-digit growth in its formative years.

In 2015, the news outlet partnered with the social network on a project aimed at loading news articles faster on Facebook’s mobile app but pulled out the following year amid concerns that the algorithm was spreading false information.

Rappler founder Maria Ressa has long urged CEO Mark Zuckerberg to crack down on the spread of intentionally inaccurate reports, which she has said is hurting democracy around the world.

Source: cnbc china
Facebook attacked by critics over 'fake news' — but outside the US this time

Comments are closed.