Is Facebook getting into the electronic money business? According to a report by Financial Times, the social network is “weeks away” from Ireland granting it regulatory approval to launch a service that would allow users to store, pay with, and exchange money with other users.
Facebook has a new general manager for Israel, as The Jerusalem Post reported that Adi Soffer Teeni, chairman of English grammar and spelling tool Ginger, will assume the post at the social network’s office in Ramat Gan.
Social media news aggregation and analysis platform NewsWhip relaunched its website to bring users the most shared stories via Facebook and Twitter from countries including the U.S., U.K., Ireland, Australia, Germany, France, and Spain.
Facebook Co-Founder and CEO Mark Zuckerberg dined with about 20 executives from wireless carriers Monday night in Barcelona, Spain, site of the 2014 GSMA Mobile World Congress, Bloomberg reported, and the conversation at the private dinner may have been guarded, given the wireless industry’s concerns over the threat that the social network’s most recent acquisition, cross-platform mobile messaging company WhatsApp, presents to their text-messaging services.
Facebook is caught in the middle of conflicting rulings by courts in Germany, as a decision by the Higher Court of Berlin that the social network’s friend finder violates the country’s law clashes with an April 2013 ruling by the Administrative Court of Appeals of the State of Schleswig-Holstein, which stated that Germany’s data-protection laws should not apply to Facebook, as its European headquarters are in Ireland.
Facebook Ireland turned a gross profit of €1.79 billion ($2.45 billion) in 2012, but it reported a pre-tax loss of €626,000 ($857,243). This may sound sketchy, but the company was fully compliant with the law. Financial Times explained how this happened.
Steve Hatch, CEO of WPP Group-owned media agency MEC, joined Facebook as regional director for the U.K. and Ireland, filling a post that had been vacant for more than one year, MarketingWeek reported.
Everyone’s favorite “Facebook co-owner” is back in the news, as Paul Ceglia was indicted on wire fraud and mail fraud charges Monday by a federal grand jury in New York, The Steuben Courier Advocate reported, and he faces up to 20 years in prison.