The lineups of three of the 11 groups that make up the benchmark S&P 500 index are being reordered as of Monday. Twenty companies in the index, including famous names like Facebook, Alphabet and Netflix, will find a new home.
Seven weeks before the midterm elections, the social network is setting up a central hub to root out disinformation and false news. The New York Times visited the operation.
Facebook is starting to allow some English-language news pages to register to join a new internal Facebook index that the tech giant will refer to when deciding which pages to roll out global news products to.
One of Instagram’s top executives is taking over one of Facebook’s biggest jobs: Instagram COO Marne Levine is returning to Facebook as VP of global partnerships and business development, a job recently vacated by longtime executive Dan Rose.
Alphabet, Facebook, Netflix and others will be in focus on Sept. 24 when they are moved out of the tech and consumer discretionary sectors into a deepened pool of communication and media stocks. In the largest-ever shakeup of the Global Industry Classification Standard (GICS), the telecommunication services sector will be renamed “communication services” and include 18 companies pulled from consumer discretionary and technology, including Netflix, Walt Disney Co. and Twitter.
FCC Chairman Ajit Pai is calling for greater oversight of major technology companies as Congress prepares to grill executives from Facebook and Twitter this week. Pai said in blog post published Tuesday that he’s concerned about how much power the internet platform companies wield, combined with allegations that the industry is biased against conservatives.
With new attacks by President Trump, high-stakes testimony next week on Capitol Hill, and a midterm election vulnerable to online manipulation, tech’s giants are bracing themselves for two months after Labor Day that could decide whether and how much the government regulates them.
The Senate intelligence committee said on Wednesday it would hold a hearing next week to look at how social media companies are responding to foreign influence operations, with testimony expected from top executives of Twitter, Facebook and Alphabet.