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Facebook CEO Mark Zuckerberg. Photo: Jeff Roberson / AP

Facebook CEO Mark Zuckerberg held the second annual Social Good Forum today in New York, at which he introduced new Facebook tools and updates to existing features.

Why it matters: Zuckerberg announced over the summer that Facebook's new mission was to "give people the power to build community to help bring the world closer together." The new tools and updates announced Wednesday are meant to expand users' communities, by connecting them with mentors or mentees, furthering donations to charities, and more.

Zuckerberg's announcements:

  • Facebook is eliminating nonprofit fees, to ensure 100% of donations go to the organizations.
  • An annual $50 million fund is being set up to match donations made through Facebook.
  • Off-Facebook fundraisers will be able to be synced up to Facebook fundraisers.
  • Facebook's blood donation feature is being expanded to Bangladesh in 2018, and plans to expand further.
  • A new tool, Mentorship and Support, will help connect mentors and mentees around the world.
  • Community Help API, a new tool that will help disaster response organizations access data to see the needs of people impacted by disasters.
  • A suicide prevention artificial intelligence, which will flag posts and videos alluding to thoughts of suicide and self-harm.

Go deeper

Janet Yellen confirmed as Treasury secretary

Janet Yellen. Photo: Alex Wong/Getty Images

The Senate voted 84-15 to confirm Janet Yellen as Treasury secretary on Monday.

Why it matters: Yellen is the first woman to serve as Treasury secretary, a Cabinet position that will be crucial in helping steer the country out of the pandemic-induced economic crisis.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.