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Inside Facebook (Jun 23rd, 2017)

$FB (4:15 p.m. EST): $155.07 (↑ 1.09%) // 90-day high: $154.71 // 90-day low: $139.39 // More info

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Facebook CEO Mark Zuckerberg announced the company's new mission statement. The new mission, "To give people the power to build community and bring the world closer together," is a more targeted statement than the original mission of making "the world more open and connected." He made the announcement in concert with the company's goal to promote membership in "meaningful groups," to which now only 100 million users say they belong. — CNN

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More users are turning to WhatsApp as a source for news. The Digital News Report produced by Reuters Institute and the University of Oxford surveyed more than 71,000 people from 36 different countries, and found that 15 percent of respondents use WhatsApp to find and discuss news. This is still well below its parent company Facebook, which 47 percent of respondents say is their news source. Using WhatsApp for news is most popular in Malaysia, where more than half of those surveyed said they use the app in this way, and less popular in the U.S., where just three percent of the respondents said they use it for this purpose. — BBC

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U.S. District Judge Ed Kinkeade asked ZeniMax and Oculus to resolve their legal battle. Earlier this year, the court awarded ZeniMax a half billion dollars in its copyright infringement lawsuit. Now the two are back in appeals court, with ZeniMax asking to double the amount of the award and to enjoin Oculus from selling its Rift headsets. Oculus is arguing against the injunction and disputing the original verdict. Kinkeade asked for specific information about the disputed lines of code, and urged both sides to settle the "big, hairy fight."  — UPLOAD VR

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Canada's top court will hear a case against Facebook concerning privacy rights. The company tried to suspend the lawsuit brought by British Columbia resident Deborah Douez in 2012, who claims that Facebook used her name and image for its Sponsored Stories without consent. Facebook argued that all lawsuits against the company must be heard in court in California, per its terms of use, but the court sided with Douez. Facebook previously settled a similar class action lawsuit over Sponsored Stories in the U.S. in 2013. — GLOBE AND MAIL

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Facebook launched a new initiative to combat extremism in the United Kingdom. The company launched its Online Civil Courage Initiative (OCCI) this morning with its partner, the Institute for Strategic Dialogue. Facebook previously launched the campaign in France and Germany. German lawmakers are weighing fines of $50 million against social media platforms that fail to remove hate speech, and leaders in France and the U.K. are considering similar regulations. — FORTUNE

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