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Facebook and Instagram’s parent company, Meta, has posted its first-ever revenue decline, dragged down by a drop in ad spending as the economy falters, and increased competition from rival TikTok. Key points: Global instability, slowdown in the ad market, and competition from TikTok contributed to the losses Meta has drawn high profile criticism over platforms like Instagram as users turn to video Chief Operating Officer Sheryl Sandberg, driver of Meta’s advertising business, is leaving the company Meta shares fell just slightly after the results, indicating Wall Street was mostly expecting a weak earnings report. The company’s total revenue, which consists almost entirely of advertising sales, fell 1 percent to $US28.82 billion ($41.1 billion) in the June quarter, nearly half a billion from a year ago. The results follow broader declines in rival digital advertising markets such as Snap and Alphabet, Google’s parent company, which reported their slowest quarterly growth in two years.

From groceries and gas to utility bills and mortgages, the cost of living has risen and many Australians are finding it difficult to stay ahead. We brought together three professionals across the business, food and finance sectors to offer their penny-pinching tips. In our Q&A blog, ABC business reporter Emily Stewart, author of four money-saving and frugal lifestyle books Jody Allen, and Lody Stewart of Financial Counseling Australia answer your budget and savings questions. Here are the biggest takeaways from the blog. When you get paid, separate your money into separate ‘buckets’ Some of you say that when money arrives in your bank account, you tend to spend it right away. So how can you change this? Ms Stewart says it’s all about breakups. “When you get paid, split your money into separate accounts, or ‘buckets’, it’s for different things,” he said. Separate your paychecks by shuffling money into separate accounts. ( ABC News: Andrew Harrison ) If you can, Ms Stewart says to s