Facebook, Social Networking | featured news

News Corp. is planning to position its MySpace unit as a Web site for accessing entertainment and related information, amid tough competition from Facebook.

It’s tough to argue against the perception that Facebook’s been on a Twitter emulation spree. In the last month alone they announced public content sharing, profile fans, real-time search, and brand new privacy changes. All of this seems to be an attempt to directly confront the Twitter threat.

Google are expected to unveil a social-networking mobile phone today, which integrates online-sharing sites Twitter and Facebook and Flickr into its software.

The heads of the top U.S. companies might be engaged in the boardroom, but they're switched off when it comes to social media, according to a new study that said CEOs should be more connected to their customers.

If ongoing early talks turn out as hoped, the Aaron Sorkin-scripted Facebook movie will roll with David Fincher in the director's chair.

Scores of complaints can be found at WickedFire, where advertisers are complaining of massive click fraud and an indifferent Facebook. A few of the recent posts (excuse the language):

What are you doing Friday night? The social networking faithful will be waiting excitedly in front of a laptop in order to capture the Facebook "vanity URL" of their choice when the clock strikes twelve.

Facebook has begun tapping a new revenue stream with the introduction of an internal payments system, a move that might help the fast-growing social networking website achieve profitability while being less reliant on advertising.

Facebook sells a 1.96% stake to a Russian internet firm, a move that values the social networking website at $10bn.

Seeing the explosion in growth of Twitter right now, it's pretty clear that the hot trend on the web is to have a service which acts as a central hub for information, and allows third party sites and services to built on top of it.