Facebook

Mark Zuckerberg said the device, priced at $199, would be the “most accessible VR experience ever”.

Sales of the company’s VR hardware have been slow since launching the first Oculus Rift headset in March 2016.

"If VR doesn't go mass market at this price point, I think we can conclude that it never will,” said John Delaney, an analyst with IDC.

The existing budget way to get Facebook's VR is the Samsung Gear VR at $129 - but that requires a high-end Samsung smartphone in order to work.

First, the company admitted a “fail” when its advertising algorithm allowed for the targeting of anti-Semitic users.

Then on Thursday, Mark Zuckerberg said he was handing over details of more than 3,000 advertisements bought by groups with links to the Kremlin, a move made possible by the advertising algorithms that have made Mr Zuckerberg a multi-billionaire.

Gross misconduct, you might say - but of course you can’t sack the algorithm. And besides, it was only doing what it was told.

He also pledged to make political advertising more transparent on his network in future.

"We will work with others to create a new standard for transparency for online political ads," he said in a live address on his Facebook profile.

He said political advertising will now carry disclaimers about which campaign or organisation paid for it.

He added that the company was continuing to investigate instances of foreign actors abusing its advertising platform, including Russia and other "former Soviet states".

The company said $100,000 (£77,000) was spent on about 3,000 ads over a two-year period, ending in May 2017.

The ads did not back any political figures specifically, but instead posted on topics including immigration, race and equal rights.

Facebook said it was co-operating with a US investigation into the matter.

The advertisements directed users towards around 470 accounts that spread false information or were otherwise in breach of Facebook’s terms and conditions, the site said.

It covered the two years to May, encompassing the months leading up to the US presidential election. Facebook said it found no link to any presidential campaign.

The social media company said many of the ads promoted "inauthentic" accounts and pages and it had now suspended 470 such accounts.

The ads spread polarising views on topics including immigration, race and gay rights, instead of backing a particular political candidate, it said.

It's dubbed the Colorful Balloons app, and, according to the Chinese app store's description, it works similarly to Facebook's (FB, Tech30) Moments app.

"Colorful Balloons can group users' phone pictures and videos based on time, locations and characters. It can help you create albums and share them with friends and family," the description reads.

The story was first reported by The New York Times and person familiar with the matter confirmed to CNNMoney that it is a Facebook app. But the Facebook name is nowhere to be seen.

Officials had requested the feature to tackle fake accounts, which they say had been used to spread hate material.

They noted WhatsApp - which is owned by Facebook - already had the requirement.

The social network met with the local authorities last week - a month after a man was sentenced to death in Pakistan for allegedly posting blasphemous material on Facebook.

The well-meaning message warns friends and family that Jayden K Smith is a hacker who will gain access to your account if you accept their invitation.

It says Smith is a hacker who 'has the system connected to your Facebook account'.

Although some users of the site do add strangers for nefarious purposes, in this particular case the chain message is a prank.

The messages have gone viral in recent days with a number of named individuals, including Jayden K Smith, blamed for the hack attacks.

It highlights the problems faced by social networks trying to set boundaries for what users can post.

The National Cannabis Industry Association said it was seeking "clearer guidelines" from Facebook.

Affected businesses should appeal to have their accounts restored, the NCIA told the Associated Press news agency.

The problem had affected all of the nine US states that had legalised recreational and medical cannabis, deputy director Taylor West added.

Now, the security researchers at Palo Alto Network have identified a malware that has the power to hack 40 or more social media accounts.

Before going ahead and tell you the details of the malware, let me inform you that this malware, called SpyDealer, affects only the Android versions between 4.4 KitKat and 2.2 Froyo. These users account for about 25% of the total Android users, i.e., 500 million.

What does SpyDealer malware do?