Connect with us

Hi, what are you looking for?

World News

Facebook is wrong to say news lacks economic value, says Canada PM Trudeau

OTTAWA — Canadian Prime Minister (PM) Justin Trudeau on Tuesday said Meta Platforms, Inc’s opposition to proposed legislation that would compel payment by its Facebook unit and other internet companies for journalistic content was based on a flawed argument that news has no economic value.

Speaking to a parliamentary committee about the Trudeau government’s legislation on Monday, a Meta official said news has a social value, but not an economic value to the company.

“If we are being asked to compensate these publishers for material that has no economic value to us, that’s where the problem is,” Meta’s head of public policy in Canada, Rachel Curran, told the committee.

Mr. Trudeau on Tuesday said, “that argument that the internet giants are putting forward is not just flawed, it’s dangerous to our democracy, to our economy.”

Facebook’s stance against paying news content “shows how deeply irresponsible and out of touch they are,” Mr. Trudeau told reporters in Ottawa.

The legislation, bill C-18 or the “Online News Act,” proposes rules to force platforms like Facebook and Alphabet’s Google to negotiate commercial deals and pay news publishers for their content, a move similar to a ground-breaking law passed in Australia in 2021.

Both Google and Meta have warned they would withdraw access to news articles on their platforms in Canada if the bill were passed into law without amendments. Their main objection is paying for links to news articles posted on their websites that they say would be unsustainable for their businesses.

Facebook says links to news articles make up less than 3% of the content on its users’ feed, and that journalists benefit from posting their work on the social media platform.

“Someone reporting on the horrors in Bucha (in Ukraine) is not trying to get likes on their Facebook page,” Mr. Trudeau said. — Reuters

Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like


THE Philippine Solar and Storage Energy Alliance (PSSEA) said it asked the Energy Regulatory Commission (ERC) to raise the green energy auction reserve (GEAR)...

World News

SYDNEY – Australia’s 30 biggest pension funds increased their investments in key coal, oil and gas producers by 50% in 2022 despite the funds‘ long term commitments to net zero carbon emissions, environmental activist group Market...


THE environmental impact of open-pit mining should not pose an obstacle to the practice, which increases the efficiency of mining operations and potentially generates...

World News

BEIJING – China has issued guidance to all provinces to build a basic elderly care system by 2025, state-run Xinhua news agency said on Sunday, in the latest step to prevent a demographic crisis. Who...

Dislaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 All Rights Reserved. Spirit