Facebook plans to invest $1 billion in news industry after Australia row

Facebook Inc on Wednesday pledged to invest at least $1 billion in the news industry over the next three years, days after a high-profile stand-off with the Australian government over paying news outlets for content.
The social network’s commitment to the news industry follows Google’s $1 billion investment last year, as technology giants come under scrutiny over their business model as well as the proliferation of misinformation on their platform.