Facebook is once again in trouble as the social media platform has been fined £50.5 million ($69.6 million) for failing to follow the set rules during the purchase of GIF platform Giphy.<o:p></o:p>

The Competition and Markets Authority (CMA) has fined Facebook as it believes that the company purposely failed to comply with the orders given by the regulator.<o:p></o:p>

CMA has imposed this huge monetary fine on the Mark Zuckerberg-owned company to set an example that no company is greater than the law.

<o:p>Also read |&nbsp;<a href="https://www.wionews.com/science-tech/facebook-planning-to-change-its-name-announcement-likely-in-a-week-report-422190">Facebook planning to change its name, announcement likely in a week: Report</a></o:p>

As per CMA, Facebook has failed to give full updates regarding the company’s compliance with requirements of continuing to compete with Giphy, instead of integrating its operation. The regulator claims that even though they sent repeated warnings to Facebook, the company failed to provide all relevant information.<o:p></o:p>

This, the company believes, is a deliberate non-compliance with the regulations set by the regulator. "We warned Facebook that its refusal to provide us with important information was a breach of the order but, even after losing its appeal in two separate courts, Facebook continued to disregard its legal obligations," said Joel Bamford, senior director of mergers at the CMA. "This should serve as a warning to any company that thinks it is above the law."

<o:p>Also read |&nbsp;<a href="https://www.wionews.com/science-technology/facebooks-topic-suggestion-labels-black-mens-videos-as-primates-410668">Facebook's topic suggestion labels Black men's videos as 'primates'</a></o:p>

However, Facebook has rubbished these claims by the CMA and have said that they strongly disagree with these allegations. Calling it ‘unfair’, the social media platform said they will soon review the decision and penalty and then consider other options.<o:p></o:p>

"We strongly disagree with the CMA's unfair decision to punish Facebook for a best effort compliance approach, which the CMA itself ultimately approved, " Facebook said. "We will review the CMA’s decision and consider our options."<o:p></o:p>

This has also come at a time when several reports have claimed that Facebook is planning to rebrand with the hope of another parent company overseeing its brands.<o:p></o:p>

Facebook is once again in trouble as the social media platform has been fined £50.5 million ($69.6 million) for failing to follow the set rules during the purchase of GIF platform Giphy.

Facebook is once again in trouble as the social media platform has been fined £50.5 million ($69.6 million) for failing to follow the set rules during the purchase of GIF platform Giphy. The Competition and Markets Authority (CMA) has fined Facebook as it believes that the company purposely failed to comply with the orders given by the regulator. CMA has imposed this huge monetary fine on the Mark Zuckerberg-owned company to set an example that no company is greater than the law. Also read | Facebook planning to change its name, announcement likely in a week: Report As per CMA, Facebook has failed to give full updates regarding the company’s compliance with requirements of continuing to compete with Giphy, instead of integrating its operation. The regulator claims that even though they sent repeated warnings to Facebook, the company failed to provide all relevant information. This, the company believes, is a deliberate non-compliance with the regulations set by the regulator. "We warned Facebook that its refusal to provide us with important information was a breach of the order but, even after losing its appeal in two separate courts, Facebook continued to disregard its legal obligations," said Joel Bamford, senior director of mergers at the CMA. "This should serve as a warning to any company that thinks it is above the law." Also read | Facebook's topic suggestion labels Black men's videos as 'primates' However, Facebook has rubbished these claims by the CMA and have said that they strongly disagree with these allegations. Calling it ‘unfair’, the social media platform said they will soon review the decision and penalty and then consider other options. "We strongly disagree with the CMA's unfair decision to punish Facebook for a best effort compliance approach, which the CMA itself ultimately approved, " Facebook said. "We will review the CMA’s decision and consider our options." This has also come at a time when several reports have claimed that Facebook is planning to rebrand with the hope of another parent company overseeing its brands.

Facebook fined $69.6 million by UK regulator for breaching order in Giphy deal

Twitter Inc Chief Executive Jack Dorsey said on Tuesday that Silicon Valley companies, including his own, have not done enough to protect victims of online abuse, calling it a "huge fail."

Interviewed via Twitter by Kara Swisher, co-founder of the tech news site Recode, Dorsey tweeted that he would give himself a 'C' grade for what Swisher termed "tech responsibility."

"We've made progress, but it has been scattered and not felt enough," he tweeted in response to Swisher's questions. "Changing the experience hasn't been meaningful enough. And we've put most of the burden on the victims of abuse (that's a huge fail)."

Twitter, along with online social media network Facebook Inc, has faced criticism for abusive posts, fake users and inaccurate news stories on its service. The company has been investing heavily to improve what Dorsey has described as the "collective health" of Twitter.

Dorsey said on Tuesday he does not like how Twitter tends to incentivise outrage, short-term thinking, echo chambers, and fragmented conversations, and that the lack of diversity in the company has not helped in combating such problems.

He said Twitter's work against "automation and coordinated campaigns," along with its collaboration with various government agencies, has left it in a better position to combat the threat of misinformation for the 2020 U.S. presidential elections.

U.S. intelligence agencies have concluded that Russia used social media during the 2016 U.S. elections to sway voters. Moscow denies that charge.

Twitter Inc Chief Executive Jack Dorsey said on Tuesday that Silicon Valley companies, including his own, have not done enough to protect victims of online abuse, calling it a "huge fail.

Twitter Inc Chief Executive Jack Dorsey said on Tuesday that Silicon Valley companies, including his own, have not done enough to protect victims of online abuse, calling it a "huge fail." Interviewed via Twitter by Kara Swisher, co-founder of the tech news site Recode, Dorsey tweeted that he would give himself a 'C' grade for what Swisher termed "tech responsibility." "We've made progress, but it has been scattered and not felt enough," he tweeted in response to Swisher's questions. "Changing the experience hasn't been meaningful enough. And we've put most of the burden on the victims of abuse (that's a huge fail)." Twitter, along with online social media network Facebook Inc, has faced criticism for abusive posts, fake users and inaccurate news stories on its service. The company has been investing heavily to improve what Dorsey has described as the "collective health" of Twitter. Dorsey said on Tuesday he does not like how Twitter tends to incentivise outrage, short-term thinking, echo chambers, and fragmented conversations, and that the lack of diversity in the company has not helped in combating such problems. He said Twitter's work against "automation and coordinated campaigns," along with its collaboration with various government agencies, has left it in a better position to combat the threat of misinformation for the 2020 U.S. presidential elections. U.S. intelligence agencies have concluded that Russia used social media during the 2016 U.S. elections to sway voters. Moscow denies that charge.

Twitter CEO says his and other tech firms have not combated abuse enough

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