FB slows feature development for ‘reputational reviews’: Report

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San Francisco, Oct 7 | Facebook is slowing down the release and development of some new products and features to make sure they won’t bring more scrutiny towards the company or harm children, according to a report by The Wall Street Journal.

The “reputational reviews” come as Facebook is facing backlash from the public and policymakers after a wave of reports citing Facebook’s own research showing ways Instagram could have a negative effect on teen girls’ mental health.

Facebook was also slammed in congressional hearings by whistleblower Frances Haugen, who shed more light on Facebook’s internal research, as well as its business model and algorithms, reports The Verge.

Some of Facebook’s recent public actions and statements back up the idea that it’s being extra careful right now.

In late September, the company announced it’s “pausing” work on a version of Instagram made for preteens, citing concerns (including those raised by The Wall Street Journal’s reporting) that the public had about the project.

In a Tuesday Facebook post responding to the whistleblower’s testimony before Congress, CEO Mark Zuckerberg said the company’s leaders would be doing “deep dives” on its current work to get a clearer picture of how Facebook is trying to make “important contributions across safety, integrity, research, and product.”

Facebook has also pushed back against the recent reporting around it and against the claims made by Frances Haugen.

In the post mentioned above, Zuckerberg called parts of her testimony “deeply illogical” and said that The Wall Street Journal’s reporting mischaracterized Facebook’s research (echoing Instagram lead Adam Mosseri’s comments).

Source: IANS

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Share Market Closing Bell: Nifty ends below 16,150, Sensex falls 236 pts

Share Market Closing Bell: Nifty ends below 16,150, Sensex falls 236 pts

The NIFTY 50 had a positive opening and made an intraday high at 16262.80 level but showed selling pressure from the top and made an intraday low at 16078.60 level and closed the session at 16125.15 level with a loss of 89.55 points However, Bank nifty closed the session at 34290 level with a gain of 42 points. VIX closed at 25.70 up by 9.83%.

33 stocks out of NIFTY 50 closed in Red which suggest broad based selling. Nifty Healthcare, FMCG, IT, capital goods indices down 1 percent each while Nifty Auto & Bank ended in Green. Nifty Stocks like DRREDDY, GNFC, POWERGRID, KOTAKBANK were the top gainers, While DIVISLAB, TECHM, GRASIM & HINDUNILVR were top losers. The Nifty has confirmed the shooting star kind of pattern on a daily time frame which indicates downside movement momentum for an upcoming session.

Moreover, from the last 14 days Nifty has been trading in a range of 15750-16410 levels, either side breakout can direct further direction. In addition, Nifty has given a closing below 21-Day Moving Average which indicates weakness in the Nifty.

However, the momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone on a daily chart which suggest a northward journey in the Nifty. The Nifty may find Strong support around 16000 levels, while on the upside 16300 may act as an immediate hurdle. On the other hand, Bank nifty has support at 33600 levels while resistance at 34800 levels.

Palak Kothari
Research Associate
Choice Broking

Source: Choice India

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