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☆ Meta accused of breaching EU antitrust rules over ad-supported subscription service
▼ + stars: | 2024-07-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Shares of Facebook parent Meta are down more than 30% this year amid a troubling macro environment and weaker-than-expected results. Facebook parent company Meta was on Monday accused by EU regulators of failing to comply with the bloc's landmark antitrust rules over its recently introduced ad-supported social networking service. The Commission labelled the ad-supported subscription option a "pay or consent" model — which means users have to either pay to use Meta's platforms ad-free, or consent to their data being processed for personalized advertising. The company separately told Reuters in a statement that its ad-supported subscription model "follows the direction of the highest court in Europe and complies with the DMA." Meta has previously pointed to this ruling as a reason for introducing the subscription offer.

Persons: Meta Organizations: Facebook, Meta, CNBC, Reuters, European Court of Justice Locations: Europe

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

☆ SCOTUS seems determined to dismantle the administrative state. It will make regulating major industries tougher.
▼ + stars: | 2024-06-28 | by ( Natalie Musumeci | Katie Balevic | ) www.businessinsider.com time to read: +8 min

Then, according to Hockett, the case would be heard by an administrative court. Straight to federal court. "These two rulings largely amputate the two most important arms that our regulatory agencies use every day in overseeing our industrial economy," Hockett said. AdvertisementIn overturning the Chevron doctrine in a 6-3 decision, the high court has hamstrung federal agencies' regulatory powers. Panuccio said that he supported the decisions and called them "important checks on administrative power."

Persons: —, Elena Kagan, Robert Hockett, SCOTUS, Friday's, Hockett, John Roberts, Roberts, Jonathan Siegel, Siegel, Jarkesy, It's, Rachel Weintraub, Weintraub, Jesse Panuccio, Trump, Panuccio Organizations: Service, United States, Securities, Exchange, Business, Cornell University, Environmental Protection Agency, EPA, Chevron, Natural Resources Defense Council, SEC, George Washington University, Coalition, Sensible Locations: North America

☆ NASA simulated an incoming asteroid impact, and the biggest roadblock to action was penny pinchers in Congress
▼ + stars: | 2024-06-28 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

The tabletop simulation presented a hypothetical scenario in which cities like Dallas, Washington, DC, and Madrid were at risk of a large asteroid impact. "A large asteroid impact is potentially the only natural disaster humanity has the technology to predict years in advance and take action to prevent," Lindley Johnson, a NASA planetary defense officer emeritus, said in a press release. That's because they didn't think Congress would approve funding for a critical space mission to study the asteroid "unless impact became certain," NASA's summary said. Options for preventing an asteroid impact include shooting the asteroid with lasers, launching a nuclear bomb at it, or simply smacking a space probe into it to nudge it away from Earth. Participants weren't sure Congress would fund the mission unless the asteroid was a certain threat — not a 72% chance of threat.

Persons: —, Lindley Johnson, Mitch McConnell, Chuck Schumer, Anna Moneymaker, Ed Whitman, Johnson, Richard Binzel, Binzel, it's Organizations: Service, NASA, Business, Capitol, US State Department, FEMA, Defense Interagency, JHU, MIT, NASA DART, National Academies of Sciences, Engineering, Medicine, Academies, White Locations: Dallas , Washington, Madrid, Europe, Japan, Canada, North America, Africa

☆ EU charges Microsoft with 'abusive' bundling of Teams and Office, breaching antitrust rules
▼ + stars: | 2024-06-25 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

The European Union on Tuesday accused Microsoft of breaching antitrust rules with the "abusive" bundling of its Teams and Office products. Microsoft took the pre-emptive step to unbundle Teams from Microsoft 365 in an effort to quash antitrust concerns by the EU. The EU opened its investigation into Microsoft — which remains ongoing — in July 2023 following a complaint by Salesforce -owned Slack, which has a rival chat service to Teams. The Commission's concerns are centered around the fact that, starting in around 2019, Microsoft tied Teams with its software-as-a-service — or SaaS — applications, such as Office. It notes that Microsoft is "dominant worldwide" in the SaaS market for professional productivity applications.

Persons: —, Brad Smith Organizations: Union, European, Microsoft, European Commission, EU, Salesforce, Economic

☆ Trump Media shares sink 12% as DJT slide accelerates
▼ + stars: | 2024-06-20 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

A sell-off of Trump Media picked up speed Thursday, with shares of former President Donald Trump's company falling as much as 15% shortly after the opening bell. The company behind the conservative social media app Truth Social, which trades on the Nasdaq as DJT, was hovering around $27 per share at the market's open. That price is more than 40% lower than it stood at the start of June, when Trump Media stock cost just over $49 a share. The slide represents a massive on-paper loss for Trump, the majority owner of Trump Media. After the bell, Trump Media revealed that the SEC had declared its registration statement effective.

Persons: Donald Trump, Donald Trump's Organizations: Trump Media, Nasdaq, Trump, New, Securities, Exchange, SEC Locations: Washington ,, New York

☆ After almost 30 years, Amazon's original book business is booming, leaked document shows
▼ + stars: | 2024-06-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.

Persons: —, John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia

☆ Chinese official slams EU probe into EV subsidies as 'selective'
▼ + stars: | 2024-06-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"The Commission considers that the sample was selected in accordance with the WTO rules and the corresponding EU legislation in this regard," he said. "The Volkswagen Group confidently accepts the growing international competition, including from China, and sees this as an opportunity. The NDRC's Jin added that the EU anti-subsidy probe does not appear to be based off an industry or business complaint. "Consequently, the Commission has reached out to Chinese authorities to discuss these findings and explore possible ways to resolve the issues identified in a WTO-compatible manner," the EU statement said. The Biden administration in May announced it would raise tariffs on imports of Chinese electric cars from 25% to 100%.

Persons: Olof Gill, Gill, BEV, Oliver Zipse, Elon, Jin, EU's Gill, BEV producers, Biden Organizations: CNBC, WTO, Major, Volkswagen Group, EU, Volkswagen, U.K, BMW Group, BMW, SAIC, EV, EVs Locations: Union, China, Germany, Europe, Western Europe, Shanghai, EU, WTO

☆ Meta says it won't release its AI assistant in Europe because EU regulations will make it 'second rate'
▼ + stars: | 2024-06-15 | by ( Katie Balevic | ) www.businessinsider.com time to read: +1 min

Meta said it won't launch its AI assistant in Europe following pushback from regulators. Regulators raised privacy concerns about Meta's plan to scrape user data to train its AI. But Meta says that data is essential to offer a useful product. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Meta announced Friday it won't release its AI features in Europe because the EU's stringent privacy regulations would make it a "second-rate experience."

Persons: Meta, — Organizations: Service, Meta, Irish, Facebook Locations: Europe

☆ UBS says this high-risk space stock could rally 50%
▼ + stars: | 2024-06-10 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Texas-based satellite manufacturer AST SpaceMobile is a risky — but worthwhile — investment, according to UBS. Analyst Christopher Schoell increased his price target for the stock by $6 to $13, implying a whopping 50.8% potential upside as of Friday's close. The shares have climbed nearly 44% so far this year, and skyrocketed about 284% over the past month. "We still see ASTS as a high-risk, high-reward investment that is subject to various risks," Schoell said in a Monday note. Still, the stock has several risks that could create uncertainties for the company's path ahead, such as launch timing and the possibility of failures, regulatory issues, funding and competition.

Persons: Christopher Schoell, Schoell Organizations: UBS, AST, Verizon, Federal Communications, Vodafone, Google Locations: Texas

☆ The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing
▼ + stars: | 2024-06-01 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

"This is really one of the most amazing things that I've seen in my career with respect to securities regulation," van Eck told CNBC's "ETF Edge" this week. VanEck was the first to apply to the SEC for permission to list its proposed Ethereum ETF. So the first reaction was to get the ETF, Ethereum ETF approval green lighted," he said. To van Eck, the buzz around Ethereum this May means clearer regulation on the horizon and an increased investor interest in crypto. Ether spiked on the SEC's approval of applications to list Ethereum ETFs on May 23, but is virtually flat since then.

Persons: Jan van Eck, van Eck, CNBC's, VanEck, Van Eck Organizations: U.S . Securities, Exchange, SEC, ETH, Innovation, Technology, Century

☆ South Africa's election portal resumes showing partial results after brief glitch
▼ + stars: | 2024-05-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: 1 min

Voters during the South Africa general elections on May 29, 2024 in Johannesburg, South Africa. Live updates of partial results from South Africa's parliamentary election reappeared on the electoral commission's website, following a glitch of at least two hours. The prints are closely watched amid early indications that the country's governing African National Congress, the liberation party of Nelson Mandela, could lose its parliamentary majority for the first time in the 30 years since it assumed governance. The electoral commission's portal was briefly blank at 06:08 a.m. London time, but once more displayed results by 08:23 a.m. in London, according to CNBC monitoring.

Persons: Nelson Mandela Organizations: South, African National Congress, CNBC Locations: Africa, Johannesburg, South Africa, South Africa's, London

☆ Sweeping changes to America's aging power grid are on their way to help bypass NIMBY roadblocks and state infighting
▼ + stars: | 2024-05-23 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +9 min

America's power grid is old and stressed. The main problem: It takes way too long to build towering high-voltage power lines that carry electricity across state lines and to hook up new power to the grid. AdvertisementBut upgrading the power grid gets bogged down by several issues. A new rule issued by the Federal Energy Regulatory Commission this month is aimed at tackling some of the problems. If the US doesn't invest in regional transmission lines, customers will pay the price in the form of congestion and more life-threatening outages.

Persons: Brett White, Larry Gasteiger, Allison Clements, West Virginia —, Jeffrey Shields, PJM, Shields, Manu Asthana's, Asthana, Mark Christie, Neil Chatterjee, Chatterjee, Christine Powell, Chuck Schumer, Gasteiger Organizations: Service, Business, Energy, Princeton University, Federal Energy Regulatory, Democrat, Sierra Club, Republican, Department of Energy, DOE, FERC, Earthjustice's Clean Energy, University of Chicago, wouldn't Locations: Pine, States, Maryland, Pennsylvania, West Virginia, New Jersey, California

☆ Ether extends its rally following 20% surge on renewed ether ETF optimism
▼ + stars: | 2024-05-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Cryptocurrencies rose Tuesday amid a late surge in optimism around the U.S. Securities and Exchange Commission's decisions on spot ether exchange-traded funds applications, the first of which is due this week. Ether led the rally, rising 9% to $3,680.98, according to Coin Metrics. Investors are reconsidering the probability that the SEC greenlights spot ether ETF applications amid reports that the SEC has requested document updates from potential ETF issuers and exchanges. Final decisions on applications by VanEck and Ark Invest are due this Thursday and Friday, respectively. BlackRock, Fidelity, Invesco, Grayscale and Bitwise Asset Management also have applications awaiting decisions this year.

Persons: Cryptocurrencies, Ether, bitcoin, Robinhood, Bartosz Lipiński Organizations: U.S . Securities, Exchange, Metrics, Marathon, Energy, SEC, Cube Exchange, Fidelity, Management Locations: BlackRock

CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment. Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether. watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated. "The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said. Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.

Persons: Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, “, —, Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith Organizations: Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood Locations: U.S, Lubin, New Jersey, ethereum, R

☆ Indian authorities seize over $1 billion worth of illegal vote inducements, including drugs and cash, in country's elections
▼ + stars: | 2024-05-19 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Indian authorities have seized over $1 billion in cash, drugs, and goods in the country's elections. The amount has surpassed the total seized during the whole of the last general election in 2019. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Election Commission of India (ECI) said it has seized 88.9 billion rupees, or around $1.1 billion, in drugs, cash, and other goods like precious metals and liquor as part of its efforts to stamp out illegal vote inducements in the country's general election.

Persons: — Organizations: Service, of India, Indian government's Press, Business

☆ Biden trolls Trump over his Manhattan trial while offering 2 presidential debates
▼ + stars: | 2024-05-15 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

Read previewPresident Joe Biden's campaign is trolling Donald Trump over his Manhattan criminal trial while pushing the former president to agree to an unprecedented summer presidential debate. On Wednesday morning, Biden's campaign proposed two presidential debates outside the traditional nonpartisan organization that has scheduled such contests for decades. Their suggestion includes an unprecedented June debate, which would easily be the earliest major presidential debate. ;'"The biggest shake-up to presidential debates in decadesBiden's proposed debates would be in June and early September. The organization, the Commission on Presidential Debates, has faced criticism in recent years, especially from Republicans, over its selection of moderators.

Persons: —, Joe Biden's, Donald Trump, Biden, CNN's, I’ve, Donald, — Joe Biden, Trump, Juan Merchan, doesn't, Let's, Biden's, Robert F, Kennedy Jr, Jen O'Malley Dillon, Dillon, George H.W Bush's, O'Malley Dillon Organizations: Service, Manhattan, Business, Republican National Convention, Electoral College –, American Locations: @CNN, Manhattan

☆ Palo Alto nears a key test that could break it out of Wall Street's penalty box
▼ + stars: | 2024-05-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Shares of Palo Alto plunged 28% on Feb. 21, a session after the company delivered a more cautious outlook for the rest of 2024. The shift in business strategy requires Palo Alto to give customers its new services and products for free to demonstrate their many benefits. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance 2. The Club is focused on how much industry spend is going to Palo Alto versus competitors, but we're not concerned about demand for the company's offerings. In this photo illustration the Palo Alto Networks logo seen displayed on a smartphone and on the background.

Persons: Morgan Stanley, Sellers, Nikesh Arora, Palo, We'd, it's, PANW, Arora, Jim Cramer, We've, nudging, Stephen Vintz, we're, Jim, Jim Cramer's, Rafael Henrique Organizations: Palo Alto Networks, Wall Street, Palo, Tech, Barclays, Palo Alto, billings, Wall, Alto Networks, UnitedHealth Group, Change, Healthcare, Club, Microsoft, Vans, Corp, Caesars Entertainment, Securities, Exchange, US Fed, CNBC, Networks, Getty Locations: Palo Alto, U.S, Palo, billings, Palo Alto's, Alto

☆ AI washing: A Microsoft VC's warning about dubious, and rising, corporate artificial intelligence claims
▼ + stars: | 2024-05-10 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

Some are practicing something called "AI washing," which Securities and Exchange Commission chair Gary Gensler explained in a video includes "false claims to investors by those purporting to use those new technologies." In reality, what AI washing leads to is a breakdown of confidence between vendors and their consumers, enterprise partners and investors. Bates says so-called button-pushing applications are AI washing, too. "These prompts that are being sold as AI companies, they have to be maintained and monitored and adjusted in order to work." Stewart says even 80–90% gross profitability for a fully AI company with limited human intervention is standard.

Persons: they're, Gary Gensler, It's, it's, Michael Stewart, Timothy Bates, Bates, Toby Coulthard, Coulthard, Microsoft's, Stewart Organizations: Securities, Exchange, SEC, Inc, University of Michigan, Flint College of Innovation & Technology, Lenovo, General Motors

☆ Dementia cases are on the rise — avoid these 12 risks to keep your brain healthy
▼ + stars: | 2024-05-08 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Halfpoint Images | Moment | Getty ImagesA global mental health crisis is on the horizon — dementia. While a healthy body can mitigate dementia risks, a healthy mind is no less important. "We do know [that] people who have cumulative mental health symptoms during their lifetime, actually [have] an increased risk of dementia," said Singham. "If we see symptomatic improvement [to one's mental health] throughout the life course, then that can decrease your chances of having dementia eventually." "The other thing I would encourage young people to do is have a very disciplined, good sleep hygiene because our brains really really need to rest," Ng said.

Persons: Timothy Singham, Singham, Ng Ai Ling, " Ng Organizations: World Health Organization, WHO, National University of Singapore, CNBC, Community Services

☆ Dozens of former employees plan to sue Bowlero alleging discrimination after EEOC closes case, lawyer says
▼ + stars: | 2024-05-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

During the company's earnings call with Wall Street analysts later Monday, executives said that the EEOC investigation was now behind them and would no longer be a distraction. "Because of limited resources, we cannot file a lawsuit in every case where we find discrimination," the EEOC explains on its website. It's unclear if the question of whether to sue Bowlero made it to a vote with the EEOC's commissioners. He told CNBC he plans to sue Bowlero for $80 million, plus legal fees. In response, Bowlero's attorneys Alex Spiro and Hope Skibitsky at law firm Quinn Emanuel said they "are pleased with the outcome of the EEOC investigation."

Persons: Bowlero, Thomas Shannon, Robert Lavan, there's, it's, Daniel Dowe, EEOC, Dowe, Alex Spiro, Hope Skibitsky, Quinn Emanuel, Thomas Tanase, Tanase's, didn't Organizations: U.S, Commission, CNBC, AMF, Lucky, Wall Street, Bowlero Locations: North America, Virginia

☆ Dollar steady after soft U.S. jobs report; yen starts week on back foot
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. On Monday, the yen weakened 0.43% to 153.62 per dollar in early trading, having touched a three-week high of 151.86 on Friday, as the dollar lost additional ground after the jobs data. But with Japanese authorities choosing last week's quiet periods to intervene in the yen market, traders will be on high alert through the day. Markets are now pricing in 45 basis points of cuts this year, with a rate cut in November fully priced in.

Persons: Jerome Powell, Goldman Sachs Organizations: Federal Reserve, Bank of, Fed, Citi Locations: Japan, Britain, Bank of Japan, U.S

☆ Trump Media hires new auditor after previous accounting firm charged with 'massive fraud'
▼ + stars: | 2024-05-06 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Trump Media hired a new auditor over the weekend, after its previous public accounting firm was accused Friday of perpetrating a massive fraud by the Securities and Exchange Commission. Trump Media said it had engaged Semple, Marchal & Cooper LLP on Saturday to replace BF Borgers. The ban required Trump Media and other public companies that had used BF Borgers to find new auditors. CNBC also requested comment from Phoenix-based Semple, Marchal, whose website said the firm in its four decades of operation it has "become a preeminent, and highly respected, certified public accounting firm." Trump Media was not yet publicly traded at the time of the alleged conduct by BF Borgers.

Persons: BF, Semple, Cooper, Donald Trump, BF Borgers, Marchal, Benjamin Borgers, Borgers Organizations: Trump Media, Securities and Exchange Commission, CPA, SEC, Marchal, BF, Company, Trump, CNBC Locations: Phoenix, Lakewood , Colorado

☆ Cramer's week ahead: Earnings from Disney, Uber and Warner Bros. Discovery
▼ + stars: | 2024-05-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday guided investors through the upcoming earnings-packed schedule on Wall Street, saying to focus on reports from companies such as Uber , Disney and Warner Bros. Since April's labor report was weaker than expected, he said investors can worry less about the Federal Reserve's next move. Monday brings earnings from Simon Property Group and Tyson Foods , the latter of which Cramer said he thinks could be a "bounce-back play." Wynn Resorts and Reddit also release earnings that day, and Cramer said he thinks both could put up solid numbers. Cramer will be paying attention to Uber's report on Wednesday, saying he wonders whether its earnings will be hurt by competition from Lyft .

Persons: CNBC's Jim Cramer, Cramer, Warren, Reddit, Airbnb, Robinhood Organizations: Disney, Warner Bros ., Federal, Berkshire Hathaway, American Express, Apple, Cola, Occidental Petroleum, Simon Property, Tyson Foods, Wynn Resorts, Lyft, Toyota, AMC Entertainment, Warner Bros, Discovery, National Basketball Association, Akamai Technologies, Federal Trade, Capri, Enbridge

☆ Meta hit with major EU probe into disinformation handling ahead of European elections
▼ + stars: | 2024-04-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Mark Zuckerberg, CEO of Meta testifies before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Meta on Tuesday was hit by the European Commission — the executive body of the European Union — with a major investigation into its compliance with the EU's strict internet content rules. The Commission said it is investigating Meta over concerns the company hasn't done enough to ensure effective combatting of disinformation ahead of upcoming European Parliament elections. The European Parliament elections are due to take place on June 6-9. "We look forward to continuing our cooperation with the European Commission and providing them with further details of this work."

Persons: Mark Zuckerberg, Meta Organizations: Dirksen, Meta, European Commission, European, DSA, Services, EU, Facebook, CNBC Locations: Washington ,

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