Author: Press Room

For years, Facebook and its CEO Mark Zuckerberg invested heavily in growth, including in areas like virtual reality with unproven potential. But after a brutal year in which the company lost more than $600 billion in market value, Zuckerberg has started speaking Wall Street’s language — and they are rewarding him for it. Facebook-parent Meta on Wednesday posted its third straight quarterly decline in revenue and a sharp drop in profit for the final three months of 2022, as it confronted broader economic uncertainty, heightened competition in the social media market and incurred significant charges from a recent round of…

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White House Press Secretary Karine Jean-Pierre stonewalled questions from reporters asking about the investigation into President Biden’s handling of classified documents just after a separate spokesperson said they are being “pretty transparent” in sharing information about the investigation.During Wednesday’s press briefing, Jean-Pierre was asked by a reporter how the White House can claim it is being transparent when the first classified documents were found in November 2022 but not disclosed until January.”What should the public take away from the fact that you are keeping information like that from the public?” the reporter asked.”I’m just not going to comment anything that…

Meta shares jumped on Wednesday after the social media company’s sales for the final quarter of 2022 came in better than expected and it authorised an additional $40bn in share buybacks.Meta, which owns Facebook, Instagram and WhatsApp, reported revenues of $32.2bn, a 4 per cent decline from the year before but at the top end of its guidance. It was also slightly above analysts’ estimates of a drop to $31.7bn.The company also announced an additional $40bn for share buybacks. Meta shares jumped about 18 per cent in after-hours trading.However, its profits took a substantial knock in the fourth quarter due…

Nearly 40 individuals and entities declared as being under sanctions, including three Russian tycoons, hold British property through offshore vehicles, according to an analysis of an official ownership register.The British government launched the register in August 2022 in an effort to tackle the flow of illicit money into the UK. Ministers set a deadline of Tuesday night for owners of 32,440 registered overseas organisations to declare their beneficial ownership status or face fines. Just fewer than 20,000 have complied so far. An analysis of registrations by the Financial Times and research group Open Ownership revealed that they included three sanctions-hit Russian…

You Si-kun, the speaker of Taiwan’s Parliament, spoke at the International Religious Freedom Summit on Wednesday and voiced why it is important that free nations protect Taiwan.”If Taiwan falls into the sphere of influence of CCP (Chinese Communist Party), then the beacon of democracy will be destroyed. And China may invade the first island chain and will cause a threat to the entire world,” he said. Freedom House’s 2022 Freedom in the World report ranked Taiwan a perfect score of 4 concerning religious freedom.DOZENS OF CHINESE MILITARY PLANES, VESSELS DETECTED IN TAIWAN WATERS AND AIRSPACE The speaker added, “Taiwan has…

Cryptocurrency prices lurched higher on Wednesday in wake of more dovish than expected remarks from Fed Chairman Jerome Powell, who was speaking as usual in the post-Fed policy announcement press conference. Risk assets, including stocks, surged as Powell acknowledged that the central bank has made progress in its fight against inflation and said that the “disinflation process has started”.Powell’s comment came shortly after the Fed announced a widely expected 25 bps hike to the Federal Funds target range to 4.50-4.75%. Bitcoin was last trading close to $23,700s, now up around 2.7% on the day and up closer to 4.0% versus…

A four-year-old girl – named locally as Alice Stones – was mauled to death by her family’s dog on Tuesday with the community gathering at a church near her home to unite in griefA community was united in grief at a candlelit vigil for a four-year-old girl who was mauled to death by a family dog in a back garden. People gathered to mourn the loss of the youngster, who has not yet been formally identified – but has been named in reports as Alice Stones – at a church near to the house on Wednesday evening. Police were called…

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