News Digest 01.11.2021

FACEBOOK CHANGES ITS NAME TO META

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Facebook has changed its corporate name to Meta as part of a major rebrand.
The company said it would better "encompass" what it does, as it broadens its reach beyond social media into areas like virtual reality (VR).
The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them.

NIGERIA BECOMES FIRST AFRICAN NATION TO INTRODUCE DIGITAL MONEY

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The Central Bank of Nigeria has announced the launch of a digital analogue of the national currency of the naira - eNaira.
The authorities believe that it will allow Nigeria to increase gross domestic product by $29 billion over the next 10 years.

GOOGLE IS ACCUSED OF ILLEGALLY MONOPOLIZING THE ONLINE ADVERTISING MARKET

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A group of U.S. attorneys General filed an antitrust lawsuit against Google in the Southern District of New York.
They believe that the share that Google receives from advertising deals is often two to four times higher than the commission of competitors. Overall, the company takes from 22 to 42% of advertising expenses that pass through its platforms.

TELEGRAM HAS LAUNCHED AN ADVERTISING PLATFORM

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Sponsored messages will be limited to 160 characters, photos and external links cannot be added to them. The minimum price per thousand impressions is €2.
To run ads on the Telegram Ad Platform, a minimum advance payment of €2,000,000 is required.

FACEBOOK'S ADVERTISING REVENUE GREW IN Q3 DESPITE APPLE'S NEW PRIVACY RULES

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Facebook's quarterly revenue increased by 35% year-on-year to $29 billion versus $29.57 billion, according to Refinitiv's forecast.
The number of active Facebook users also continues to grow. The daily audience in the third quarter increased to 1.93 billion.

ALIBABA LOST $344 BILLION IN CAPITALIZATION OVER THE YEAR AMID PRESSURE FROM THE CHINESE AUTHORITIES

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This is a world record. Since October 2020, Alibaba has lost more than all other global companies. Now the company's market capitalization is $483 billion.
Of the ten companies listed in the market value loss ranking, eight are from China. The Bloomberg rating also included Tencent, whose capitalization fell by $65.4 billion, Kuaishou lost $104 billion, TAL - $39.1 billion.

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