Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Facebook Inc. (FB) Opens London Engineering Center

Facebook Inc.Facebook Inc. (NASDAQ:FB) has been on the lookout for some of the brightest minds in technology as it continues to work on improving its platform and trying to develop its mobile presence more effectively. And in the current economic climate, the company is looking to play a small role in improving the job outlook in Europe. The company is announcing that it is branching its brain trust outside of American soil, as a new engineering center in London opened Tuesday.

The move further supports the British government’s job-growth strategy by focusing on the digital and tech world, and Facebook Inc. (NASDAQ:FB) has been a supporter of British technology incubators. Mike Schroepfer, Facebook Inc. (NASDAQ:FB) vice president of engineering, said that London was “rapidly emerging as a global technology hub,” as a place where many good engineers are currently found and is an attractive site for foreign engineers to relocate.

British Finance Minister George Osborne said, “I hope it also reflects something of the work we have done as a government over the last couple of years to make this a go-to place for technology businesses.” The Facebook Inc. (NASDAQ:FB) group, which is expected to be about 12 people at the start, is expected to have the charge of developing products to improve the site for users, and to enhance the site’s performance on mobile devices, Schroepfer said.

The team of 12 is being led by engineer Philip Su, who relocated from Seattle, where the first Facebook Inc. (NASDAQ:FB) engineering center outside of California is located. Su said he has recruited a few engineers so far. This investment in the company and the expansion of resources can be looked upon as a positive step for Facebook Inc. (NASDAQ:FB) and investors like billionaire fund manager Steven Cohen of SAC Capital Advisors, especially if this turns into some positive momentum in more effective mobile presence.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.