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Evan8707
2021-02-24

Big market Aus

Facebook Settles Battle With Australia. What It Means for Investors.

Facebook said late Monday it will restore news content to its platform in Australia. The company had

Facebook Settles Battle With Australia. What It Means for Investors.

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What It Means for Investors.","url":"https://stock-news.laohu8.com/highlight/detail?id=1159016557","media":"Barrons","summary":"Facebook said late Monday it will restore news content to its platform in Australia. The company had","content":"<p>Facebook&nbsp;said late Monday it will restore news content to its platform in Australia. The company had suspended news sharing last week amid a dispute over a proposed Australian law requiring tech platforms to pay publishers.</p><p>Tech stocks experiencedbroad weakness&nbsp;in Tuesday trading, though&nbsp;Facebook&nbsp;(ticker: FB) was a bright spot, advancing 2.1% to $265.86. The&nbsp;Nasdaq Composite&nbsp;index fell 0.5%, while the&nbsp;S&amp;P 500&nbsp;index up 0.1%.</p><p>Australia’s pioneering legislation would force large tech platforms such as Facebook and&nbsp;Alphabet&nbsp;(GOOGL) to pay local publishers for news content, and require binding arbitration if the parties can’t cut a deal. The law could have significant implications for publishers, consumers, and tech giants if adopted by more governments.</p><p>Forcing tech platforms to pay for news is an idea that has been gathering support around the world. According to The Wall Street Journal, a Canadian government minister said his governmentwould move forward with similar legislation.Microsoft&nbsp;(MSFT), which operates the Bing search engine,has said it supports legislative effortsin the U.S., the European Union—whichhas already taken stepsto do so through copyright law—and elsewhere.</p><p>For Facebook, the impact of news is likely muted versus rivals such as Alphabet, which runs the Google search engine. Facebook has been de-emphasizing news content in its members’ feedsfor years, and has further prioritized content thatthe company sayshelps create moremeaningful interactionsamong its users. Facebook’s managing director for Australia and New Zealand, William Easton,said last weekthat news makes up less than 4% of the overall content people see in their News Feed.</p><p>To wit, Facebook was willing to shut off news sharing in Australia for five days, though it waswildly unpopularin Australia, and could have been aimed at pressuring Australia into a more favorable negotiating position. Regardless, Facebook’s decision also had unintended consequences, such as removing pages belonging to government agencies such as the country’s weather service, along with those of some local health agencies,accordingto the Journal.</p><p>Alphabet subsidiary Google, which also opposes the Australia law, agreed to pay some publishers for content, including News Corp, which owns Dow Jones, publisher of&nbsp;<i>Barron’s</i>.</p><p>Facebook stock has advanced 25% in the past year, as the S&amp;P 500 rose 16%.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Facebook Settles Battle With Australia. 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What It Means for Investors.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 17:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/facebook-settles-battle-with-australia-what-it-means-for-investors-51614108082?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Facebook said late Monday it will restore news content to its platform in Australia. The company had suspended news sharing last week amid a dispute over a proposed Australian law requiring tech ...</p>\n\n<a href=\"https://www.barrons.com/articles/facebook-settles-battle-with-australia-what-it-means-for-investors-51614108082?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/facebook-settles-battle-with-australia-what-it-means-for-investors-51614108082?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159016557","content_text":"Facebook said late Monday it will restore news content to its platform in Australia. The company had suspended news sharing last week amid a dispute over a proposed Australian law requiring tech platforms to pay publishers.Tech stocks experiencedbroad weakness in Tuesday trading, though Facebook (ticker: FB) was a bright spot, advancing 2.1% to $265.86. The Nasdaq Composite index fell 0.5%, while the S&P 500 index up 0.1%.Australia’s pioneering legislation would force large tech platforms such as Facebook and Alphabet (GOOGL) to pay local publishers for news content, and require binding arbitration if the parties can’t cut a deal. The law could have significant implications for publishers, consumers, and tech giants if adopted by more governments.Forcing tech platforms to pay for news is an idea that has been gathering support around the world. According to The Wall Street Journal, a Canadian government minister said his governmentwould move forward with similar legislation.Microsoft (MSFT), which operates the Bing search engine,has said it supports legislative effortsin the U.S., the European Union—whichhas already taken stepsto do so through copyright law—and elsewhere.For Facebook, the impact of news is likely muted versus rivals such as Alphabet, which runs the Google search engine. Facebook has been de-emphasizing news content in its members’ feedsfor years, and has further prioritized content thatthe company sayshelps create moremeaningful interactionsamong its users. Facebook’s managing director for Australia and New Zealand, William Easton,said last weekthat news makes up less than 4% of the overall content people see in their News Feed.To wit, Facebook was willing to shut off news sharing in Australia for five days, though it waswildly unpopularin Australia, and could have been aimed at pressuring Australia into a more favorable negotiating position. 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