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.
The no-win situation that Facebook often finds itself in when it comes to censorship of content on the social network reared its ugly head again this week with the controversy over whether videos depicting beheading should be allowed or deleted.
The tax man cometh and, in the case of Facebook in the U.K., he leaveth empty-handed, as The Guardian reported that the social network paid no taxes in the U.K. in 2012, despite seeing its income there rise by 70 percent, and despite accounting for nearly one-half of the £6 billion ($9.66 billion) that eMarketer projects for 2013 digital ad spending in the U.K.
Some things never go as planned, and that is certainly the case for several parties organized via Facebook.
Student group Europe Versus Facebook has tangled with the social network before, in case you couldn’t tell by its name, filing numerous complaints related to Facebook’s privacy policies starting in 2011. Now, EVF is taking on Facebook again over its alleged role in the U.S. National Security Agency’s Prism initiative, and the group is also taking on Apple, Microsoft, Skype, and Yahoo.
Facebook is targeting businesses in the Europe, Middle East, and Africa that have not yet advertised on the social network with ads directing them to the Facebook Start to Success Program, which offers free support for first-time advertisers, as well as a £25 ($39.15) credit toward advertising.