Facebook profit falls 9 percent as costs soar

Facebook Inc reported quarterly revenue that beat forecasts but its profit fell 9 percent as the social media company sharply increased spending to boost mobile revenue and future growth. “We're investing in the next set of services and what will be future investments like Messenger, WhatsApp and Oculus,” Chief Operating Officer Sheryl Sandberg said in an interview on Wednesday after the earnings report. Messenger has more than 700 million users, and the app has been downloaded more than 1 billion times on Android, Google Inc's mobile operating system, Facebook said

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PlentyOfFish for Match.com owner at $575 million

IAC/InterActive Corp’s Match Group, which owns Match.com, agreed to buy dating website PlentyOfFish for $575 million to push deeper into the lucrative mobile-based dating business, ahead of its planned public listing. Canada-based PlentyOfFish was launched in 2003 and has over 90 million registered users worldwide, 80 percent of whom access the services on mobile devices, according to its website. The company’s founder and Chief Executive Markus Frind grew the site to 10 million users on his own while running the company out of his Vancouver apartment.

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German newspaper sales stabilize as readers pay online

FRANKFURT/BERLIN (Reuters) – German newspaper revenues stabilized in 2014 after years of decline as publishers compensated for falling advertising sales by persuading more readers to pay for news online. Total revenues fell 0.6 percent to 7.76 billion euros ($8.57 billion) in Europe’s biggest newspaper market, the Federation of German Newspaper Publishers (BDZV) said, compared with a 4.4 percent decline in 2013.

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Facebook launches video calling in Messenger app

(Reuters) – Facebook Inc introduced free video calling in its Messenger phone app on Monday as the company seeks to transform its mobile messaging service into a full-featured platform with the same reach as its 1.4 billion user social network.

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Google launches portal to buy patents

(Reuters) – Google Inc said it would launch an experimental portal that allows interested patent holders to sell their patents to the company. Patent holders can tell Google about the patents they're willing to sell and the expected price through the portal, the company said on its blog.

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China foreign website malfunction drives home Internet woes

BEIJING/SHANGHAI (Reuters) – Internet users in China were unable to use a number of popular foreign websites on Monday, the latest in a series of challenges businesses and individuals have faced going online in the world's second-largest economy. Social media users first reported on Sunday that they were being sent to software website wpkg.org and travel website ptraveler.com when trying to access news websites like cnn.com, news portal yahoo.co.jp, and games website runescape.com, among others. Reuters reporters in China also experienced similar issues

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#WhereIsTheBomb warns Egyptians of violence-related traffic

By Shadi Bushra CAIRO (Reuters) – Egypt's long-suffering drivers, worn down by decades of jams and crashes, are turning to social media to stave off a new, even more pressing threat — the traffic chaos caused by roadside bombs. “We really wish we didn't need to incorporate such a feature,” the app's co-creator Gamal ElDin Sadek told Reuters. “Eventually we categorized it under one hashtag to be better organized in warning people.” Egypt has been battling an Islamist militant insurgency that has killed hundreds of police and soldiers since then army chief Abdel Fattah al-Sisi ousted president Mohamed Mursi of the Muslim Brotherhood in July 2013 after mass protests.

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Zoopla takes hit as rival shakes up UK online home search market

By Paul Sandle LONDON (Reuters) – The owner of Britain’s Zoopla and Prime Location property websites said it had been deserted by thousands of estate agents since the launch of rival portal OnTheMarket, but insisted the new company would struggle to win over home buyers and sellers.

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India’s Flipkart to double value of goods sold as demand surges

By Nivedita Bhattacharjee MUMBAI (Reuters) – Flipkart aims to double the total value of goods it sells to $8 billion this year, two people with knowledge of the plans said, as India’s largest online marketplace seeks to widen the gap with rivals including Amazon.com’s India unit. Online retailers often use GMV, or gross merchandise value based on monthly online sales, as a measure of performance, as they typically make revenues from the commissions they get from sellers. Flipkart’s current GMV is $4 billion, the sources said, declining to be named as they were not authorized to speak to the media

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European business group slams China’s Internet controls

China's Internet curbs are isolating it from the world and having a “highly detrimental” impact on business, a European lobby said on Thursday, in an unusually strong statement by a foreign business chamber. With a population of 1.4 billion and 632 million people online, China offers a crucial market for multinational firms.

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