Facebook chief Mark Zuckerberg on Thursday announced the parent company's name is being changed to " Meta " to represent a future beyond just its troubled social network. The name change comes as the company battles criticisms from lawmakers and regulators over its market power, its algorithmic decisions and the policing of abuses on its platforms. CEO Mark Zuckerberg, speaking at the company's live-streamed virtual and augmented reality conference, said the new name reflected its focus on building the metaverse. "We've learned a lot from struggling with social issues and living under closed platforms, and now it is time to take everything that we've learned and help build the next chapter," Zuckerberg said. Name of apps to remain same The tech giant said the change would bring together its different apps and technologies under one new brand. It said it would not change its corporate structure. The names of the apps that it builds — Facebook, Inst...
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Top 12 finance stories of the day!
Here’s a round up of the top finance news of the day...
'Need to turn COVID-19 crisis into opportunity to create Aatma Nirbhar Bharat': Modi's Make-in-India Push
Prime Minister Narendra Modi on Thursday said that self-reliance was already a part of the Centre's policy, and Covid-19 outbreak gave it a push. He also urged India Inc to make bold moves and not rely on conservative ones. Modi added that the Covid-19 crisis needs to be made into a turning point for India's economy.Watch video
Sensex slides 741 points, global cues weak
Benchmark indices ended the day sharply lower, as global cues were weak, following lower closings across the US markets. Read more
Rupee settles 20 paise lower against US dollar
The rupee depreciated 20 paise to provisionally close at 75.79 against the US dollar on Thursday as strengthening US dollar and weak domestic equities weighed on investor sentiment. Read more
Petrol, diesel prices hiked by 60 paise/litre each; 5th straight daily increase in rates
Petrol and diesel prices on Thursday were hiked by 60 paise per litre each - the fifth straight daily increase in rates since oil PSUs ended an 82-day hiatus in rate revision. Read more
Gold price June 11: Gold price rises to Rs 47,167 per 10 gram
Domestic gold futures jumped by 1.16 percent on Thursday, 11 June, tracking global rates, as the country slowly eased restriction in a phased manner under ‘Unlock 1.0’. Read more
‘In touch with UK for Vijay Mallya’s early extradition’: India
India on Thursday, 11 June, said they have been in touch with the UK authorities for the early extradition of business tycoon Vijay Mallya. Read more
Anand Mahindra invests in Hapramp: What is this new startup about?
It has been a long search for the perfect match by Indian billionaire businessman Anand Mahindra, and 2 years later, he has found THE ONE! Anand Mahindra was hunting for a company to invest in, which would put customer data privacy and security at the forefront, so he chose Hapramp. What is this startup about? Find out more here. Read more
Facebook lifts ban on promotion of non-medical, homemade face masks on its platform
Facebook has announced to allow people to promote and trade non-medical masks, including those that are homemade or handmade, in organic posts, ads and commerce listings on Facebook and Instagram. The social media giant would still maintain a temporary ban on selling medical masks, such as surgical or N95 masks, to prevent people from exploiting the pandemic for financial gain. Read more
Economy may recover in 2nd half of the year or next year: CEA
In an online conference, on Thursday, 11 June, Chief Economic Advisor Krishnamurthy Subramanian said economic growth this year will depend on the timing of recovery. Read more
Bank employees demand flexibility in work hours, more cleanliness at branches after COVId-19 deaths
Indian bank employees are demanding better cleanliness at lenders' branches and more flexibility in staff work schedules following the death of at least 11 bankers and bank employees in the country due to the coronavirus outbreak. Read more
Twitter wants to fight misinformation by urging you to read an article before retweeting
Twitter is making its moves against misinformation more prominent in recent times. Its latest move is for a feature that prompts a user to open an article first, when you hit the retweet button. The feature, as Twitter Support has confirmed, will only track your activity inside the Twitter platform and not what you do elsewhere on the internet, so as to not violate privacy of users. Read more
What cryptocurrency means for small businesses
The entire world knows that Cryptocurrency is becoming the next big thing in the financial industry which has the power to disrupt major financial institutions. Yet the knowledge about cryptocurrency remains absolutely dull among people. Read more
Apple makes history by becoming world's first company to hit $1.5 trillion market cap
Apple has become the first US company that reached $1.5 trillion market cap and according to the investors and analysts, strong App Store sales, ARM chips-run Macs and a 5G iPhone this fall are the reasons for the surge in stock of the Cupertino-based iPhone maker.
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