Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

FACEBOOK INC

(FB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Facebook : India slams Twitter for not complying with new IT rules

06/16/2021 | 06:02am EDT
FILE PHOTO: The Twitter App loads on an iPhone in this illustration photograph

(Refiles to add minister's full name in paragraph five)

By Sankalp Phartiyal

NEW DELHI (Reuters) - India's technology minister said on Tuesday that Twitter Inc had deliberately defied and failed to comply with the country's new IT rules, which became effective in late May.

The new rules or the so-called Intermediary Guidelines, announced in February, are aimed at regulating content on social media firms such as Facebook, its WhatsApp messenger and Twitter, making them more accountable to legal requests for swift removal of posts and sharing details on the originators of messages.

The rules also require big social media companies to set up grievance redressal mechanisms and appoint new executives to coordinate with law enforcement.

India's technology ministry wrote to Twitter on June 5, warning the company of "unintended consequences" if it did not obey the rules, Reuters previously reported.

Ravi Shankar Prasad did not directly say on Tuesday whether Twitter had lost intermediary protections, but a senior government official told Reuters that Twitter may no longer be eligible to seek liability exemptions as an intermediary or the host of user content in India due to its failure to comply with new IT rules.

"There are numerous queries arising as to whether Twitter is entitled to safe harbour provision," Prasad tweeted. "However, the simple fact of the matter is that Twitter has failed to comply with the Intermediary Guidelines that came into effect from the 26th of May."

Twitter, Prasad added, had chosen the "path of deliberate defiance when it comes to the Intermediary Guidelines."

Twitter did not respond to a request for comment though it said on Monday it was keeping India's technology ministry apprised of the steps it was taking.

"An interim Chief Compliance Officer has been retained and details will be shared with the Ministry directly soon," it said. "Twitter continues to make every effort to comply with the new guidelines.

New Delhi-based digital advocacy group Internet Freedom Foundation said it was only up to courts, and not the government, to decide whether companies such as Twitter remained intermediaries for alleged non-compliance such as appointment of executives.

Growing tensions between India's government and U.S. big tech have riled firms that have spent millions of dollars to build hubs in their largest growth market, to the extent some are rethinking expansion plans, people close to the matter have told Reuters previously.

(Reporting by Sankalp Phartiyal; Editing by Raju Gopalakrishnan)


© Reuters 2021
All news about FACEBOOK INC
10:05aNasdaq, S&P 500 fall as Amazon earnings disappoint
RE
09:34aToday on Wall Street: Without a care in the world
08:52aFACEBOOK : Evercore ISI Adjusts Facebook's Price Target to $450 From $400, Keeps..
MT
08:36aAmazon hit with record EU data privacy fine
RE
06:13aANALYST RECOMMENDATIONS : Amazon, Barclays, Comcast, Next, Pfizer...
04:26aUK Watchdog Launches Probe Into Facebook's Acquisition of Kustomer
DJ
07/29AMAZON COM : sales growth slows in tame start to Jassy's tenure as CEO
RE
07/29FACEBOOK : Truist Securities Adjusts Facebook's Price Target to $425 From $400, ..
MT
07/29Tech Ticks Higher After Mixed Earnings -- Tech Roundup
DJ
07/29Amazon sales growth slows in tame start to Jassy's tenure as CEO
RE
More news
Financials (USD)
Sales 2021 119 B - -
Net income 2021 40 395 M - -
Net cash 2021 79 259 M - -
P/E ratio 2021 25,6x
Yield 2021 -
Capitalization 1 016 B 1 016 B -
EV / Sales 2021 7,88x
EV / Sales 2022 6,47x
Nbr of Employees 63 404
Free-Float 84,4%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Last Close Price 358,32 $
Average target price 409,28 $
Spread / Average Target 14,2%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
Sector and Competitors
1st jan.Capi. (M$)
FACEBOOK INC31.18%1 016 004
KUAISHOU TECHNOLOGY0.00%63 643
TWITTER, INC.29.95%56 035
MATCH GROUP, INC.8.08%44 214
BUMBLE INC.0.00%6 183
NEW WORK SE-8.93%1 704