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Facebook Oculus VR acquisition approved by FTC

Facebook Oculus VR acquisition approved by FTC

It’s time for Facebook to make their move with Oculus VR, the makers of the virtual reality headset Oculus Rift. This acquisition was announced earlier this year not long after GDC 2014, and the introduction of Sony’s Project Morpheus - though there’s no direct evidence linking the two events. Here we’re seeing the Federal Trade Commission (FTC) announcing that Facebook’s acquisition of Oculus VR is A-OK.

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Big surprise: Facebook will eventually push ads with “Nearby Friends”

Big surprise: Facebook will eventually push ads with “Nearby Friends”

Facebook plans to eventually use its new "Nearby Friends" feature to power new location-based adverts and marketing, the social network has conceded, potentially souring what was generally seen as a privacy-mindful launch of the functionality. Nearby Friends began rolling out last week as a new addition to Facebook's mobile apps, optionally showing those on your friendslist your location, and making it easier to organize impromptu meet-ups. However, Facebook has more in mind than promoting socializing.

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Facebook Nearby Friends tentatively tracks friendslist

Facebook Nearby Friends tentatively tracks friendslist

Facebook has added a new feature to its mobile apps, Nearby Friends, allowing users of the social network to find those on their friendslist when they're nearby, though Facebook is clearly wary of a privacy backlash. The feature, which will be rolled out to the Android and iOS apps over the coming weeks, shows your GPS position and that of your friends on a map; however, Facebook is turning it off by default, and relying on users to opt-in instead.

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Facebook wants you to trust it with your money

Facebook wants you to trust it with your money

Facebook is preparing to challenge PayPal and Google Wallet as an electronic payments service, reportedly expecting imminent regulatory approval that would enable it to operate a money transfer system in Europe. The social networking behemoth is said to be in the midst of approval proceedings from Ireland's central bank that, if secured, would allow it to issue its own currency equivalent that would be valid across European countries.

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Facebook axing in-app messaging: Pushing standalone app

Facebook axing in-app messaging: Pushing standalone app

Facebook will force iOS and Android app users to download the standalone Facebook Messenger app if they want to continue chatting, with plans to remove the messaging functionality from the regular Facebook app. The decision, likely to cause some consternation among Facebook users, is part of the social network's ongoing shift to standalone software for each key feature it offers, rather than bundling them together and running the risk that they get overlooked.

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Social media spawning a new breed of money-making machines

Social media spawning a new breed of money-making machines

It's very easy to forget that social media is not a charitable institution that wants you to connect to the world. The truth of the matter is that we humans love drama, and we thrive on gossip. The minute you score a new gig, you immediately share it on Facebook. Controversial news – let's spill it on Twitter! 'I'm the next best photographer with a new phone'; sure Instagram is there, and for the crafty-you – Pinterest is your best friend. Once you've been hooked to the platform, the monetization game begins.

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