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Action: Facebook fined 520 crores, the whole matter is related to Jiffy.

New Delhi Fb has been fined 50.5 million kilos, or about Rs 520 crore, by the UK’s competitors regulator. This effective has been imposed on Fb for violating a regulatory order in the course of the investigation after the acquisition of GIF platform Jiffy. The Competitors and Markets Authority (CMA) has stated on this matter that Fb has intentionally finished this. It’s necessary to impose effective on him and warn him, as a result of no firm is above the legislation. The regulator says that Fb has failed to supply full particulars concerning the acquisition of Jiffy. As well as, Fb has additionally failed to permit Jiffy to function with its platform in the course of the investigation. The regulator has stated that Fb has not offered the mandatory data relating to the acquisition of Jiffy, whereas it has been warned about it repeatedly. In accordance with the report, Fb is getting ready for its re-branding. The brand new title of Fb could also be introduced subsequent week. Fb CEO Mark Zuckerberg can announce the brand new title of the corporate at an occasion to be held on October 28. Aside from the Fb app, there can be large bulletins relating to the names of different merchandise of the corporate like Instagram, WhatsApp, Oculus and so forth., though no official remark has been made by Fb on this report but.

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