Angolan president demands curbs on social media

Angolan President Jose Eduardo dos Santos called on Friday for a crackdown on social media, heightening concerns about the tolerance of dissent or political opposition in Africa's number two oil producer. In a surprise television address, dos Santos, who has run the former Portuguese colony since 1979, said websites such as Facebook were useful for disseminating information but were being abused to publish “derogatory and morally offensive content”

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President Xi says China will guarantee foreign companies’ legal rights

By Paul Carsten WUZHEN, China (Reuters) – China will guarantee foreign companies' legal rights, President Xi Jinping said on Wednesday at the country's second annual World Internet Conference in Wuzhen. “Safeguarding the legal rights of foreign-invested businesses will not change,” said Xi

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Omnicom to buy Brazil advertising group ABC, source says

By Tatiana Bautzer and Guillermo Parra-Bernal SAO PAULO (Reuters) – Omnicom Group Inc, the world’s second largest advertising company, has agreed to pay 1 billion reais ($270 million) for Brazil’s Grupo ABC, growing Omnicom’s publicity, branding services and content in Latin America’s largest economy, a source with direct knowledge of the transaction said on Friday.

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Snapchat’s lackluster ad business threatens $16 billion valuation

By Heather Somerville SAN FRANCISCO (Reuters) – Snapchat, maker of a free mobile app that lets users send videos and messages that disappear in seconds, is struggling to gain traction with advertisers, fuelling investor concern that its $16 billion valuation isn't justified by a business that hasn't yet shown it has a steady source of income.

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Facebook revenue, profit beat forecasts; shares hit all-time high

By Yasmeen Abutaleb and Lehar Maan SAN FRANCISCO (Reuters) – Facebook Inc posted surprisingly strong profit and revenue growth as the world's largest social network grew even larger, with a spike in mobile users and advertising that lifted its stock to an all-time high. The company on Wednesday reported audience numbers that suggest it is poised to take on mainstream media as an advertising force, helping investors to overlook Facebook's huge spending on hiring and building data centers

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Twitter tries to spur growth with shopping and political donations

Twitter Inc's plans to let users buy goods and make political donations through tweets offer a path to reach new customers and build profit at a time the company has struggled to increase its audience. On Tuesday, Twitter announced it has partnered with mobile payment company Square Inc to accept online donations for U.S. political campaigns

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Google rejects ‘unfounded’ EU antitrust charges of market abuse

By Foo Yun Chee BRUSSELS (Reuters) – Google, the world's most popular Internet search engine, rejected on Thursday European Union antitrust charges that it abused its market power, saying they lacked any economic or legal basis. “Economic data spanning more than a decade, an array of documents and statements from complainants all confirm that product search is robustly competitive,” Kent Walker, Google's general counsel, wrote in a blog

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McDonald’s grilled over labor, tax practices at Brazil hearing

McDonald's Corp , the world's biggest fast-food chain, was accused of mistreating its employees and dodging taxes on Thursday during a Senate hearing in Brazil, where politicians, union leaders and workers from five continents voiced allegations. McDonald's has come under increasing scrutiny worldwide for allegations of labor abuses, health and safety violations, plus tax evasion in Europe, and Brazilian Senator Pablo Paim called a hearing to allow both sides to make their cases.

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