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☆ European markets head for lower open after surge for right-wing parties in EU election
▼ + stars: | 2024-06-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

An employee enters sliding doors decorated with the stars of the European Union (EU) flag at the Berlaymont building, headquarters of the European Commission (EC), in Brussels, Belgium, on Tuesday, Jan. 28, 2020. LONDON — European stocks are expected to open lower Monday as traders react to initial results from the EU Parliament elections which suggest far-right parties have surged in popularity. The U.K.'s FTSE index is seen 57 points lower at 8,193, Germany's DAX 45 points lower at 18,507, France's CAC 40 down 45 points at 7,952 and Italy's FTSE MIB 60 points lower at 34,629, according to IG. Regional markets will be focused on the results of EU parliamentary elections, which took place over the last few days. The EU election drama was rounded off Sunday evening when French President Emmanuel Macron called snap parliamentary elections later this month after suffering a heavy defeat in the EU vote.

Persons: Germany's DAX, Emmanuel Macron Organizations: European Union, European Commission, LONDON, CAC, IG, Regional Locations: Brussels, Belgium, Britain, EU

☆ There is 'anxiety' in Europe over the U.S. presidential election, former EU chief says
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is 'anxiety' in Europe over the U.S. presidential election, former EU chief saysFormer European Commission President José Manuel Barroso says Europe is weighing the prospect of a more "unpredictable" U.S. ahead of the upcoming presidential election.

Persons: José Manuel Barroso Organizations: U.S Locations: Europe

Members of European Parliament attend a plenary session in Brussels on April 10. John Thys/AFP/Getty ImagesThe European Parliament is the legislative branch of the European Union and one of the bloc’s three main institutions, along with the European Commission, which is the executive branch, and the European Council, which is made up of ministers from the governments of the 27 member states. In order for any legislation to be implemented, both the council and parliament have to agree. It often has the final word on major policy issues such as the budget, trade and sanctions on foreign nationals. For example, A comprehensive mutual investment agreement between the EU and China is effectively on hold while some MEPs are under sanctions from China.

Persons: John Thys, Germany’s Ursula von der Leyen Organizations: European, Getty, European Union, European Commission, European Council, EU Locations: Brussels, AFP, Belgium, Strasbourg, France, China

☆ The E.U. Votes: What We’re Watching For
▼ + stars: | 2024-06-09 | by ( Matina Stevis-Gridneff | Sarah Hurtes | ) www.nytimes.com time to read: +1 min

More than 300 million voters in the 27 countries that make up the European Union are heading to the polls to elect the new European Parliament’s 720 members. The Parliament approves or rejects E.U. It also says yea or nay, by simple majority in a secret ballot, to the appointment of the president of the E.U. In the 2019 election, Ursula von der Leyen, a conservative, came dangerously close to being rejected as the European Commission president, securing the Parliament’s approval by just nine votes. This time, Ms. von Leyen, likely to be designated as president for a second five-year term, could face worse odds.

Persons: Ursula von der Leyen, von Leyen Organizations: Union, European Commission Locations: Ukraine

☆ Europe’s center ground is shifting further to the right
▼ + stars: | 2024-06-09 | by ( Luke Mcgee | ) edition.cnn.com time to read: +6 min

And while the far right is on course to make large gains, the center parties remain ahead. For those on the center right, domestic political shifts to the hard right could make working with the hard right increasingly attractive at a European level. The deadline for this is months away, which leaves a lot of time for horse-trading, which could see elements of the center right and hard right cooperate. It’s not implausible that the center right could vote with the left on issues like support for Ukraine, but then work with the hard right on immigration and climate policy. That was the result of years of domestic politics shifting in the UK, the center right shifting to fend off the hard right, ultimately leading to that rupture.

Persons: –, it’s, It’s, Emmanuel Macron, Pen, Macron, Brothers, Benito Mussolini, Ursula von der Leyen, she’s Organizations: CNN, European Union, EU, European People’s Party, Socialists, Democrats, Europe Greens, Conservative Reformers, European Locations: Europe, Ukraine, Brussels, Netherlands, France, Italy, EU

☆ Far right surges in European Parliament elections but center still holds
▼ + stars: | 2024-06-09 | by ( Christian Edwards | ) edition.cnn.com time to read: +4 min

CNN —Far-right parties are predicted to win a record number of seats in the European Parliament, a result that, if confirmed, would deliver a stinging rebuke to Brussels’ political mainstream and add uncertainty to Europe’s future direction. Most of the far-right gains were concentrated in countries that elect large numbers of seats: France, Italy and Germany. Alternative for Germany (AfD) party co-leaders Alice Weidel and Tino Chrupalla cheer the exit poll in Berlin, Germany, June 9, 2024. Annegret Hilse/ReutersWhile the far-right surge may further complicate Brussels’ bid for unity, the far-right parties themselves remain relatively divided. Several other far-right parties are among the non-aligned (NI) group, predicted to secure 45 seats.

Persons: Ursula von der Leyen, –, ”, Europe’s centrists, Le, Emmanuel Macron, Jordan Bardella, ” Macron, Brigitte Macron, Stephane Lemouton, Olaf Scholz, Scholz, shored, ” von der Leyen, Alice Weidel, Tino Chrupalla, Annegret Hilse, Maximilian Krah, Roberta Metsola Organizations: CNN, European People’s Party, EPP, Macron’s Renaissance Party, Socialists, Social Democrats, Christian Democrats Party, CDU, EU, Forces, Reuters, Nazi, SS, Brussels Locations: Brussels, France, Italy, Germany, France’s, Europe, Britain, Russia, Ukraine, Kyiv, Berlin

☆ EU elections kick off against a backdrop of China disputes, 'greenlash' and possible Trump return
▼ + stars: | 2024-06-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

Laurie Dieffembacq | Afp | Getty ImagesThe political makeup of the European Union is about to change with voters across the 27 member states heading to the polls from Thursday until Sunday. Trump has previously remarked that he would not protect NATO countries from Russian attacks if they lag on their membership payments. Green pledgesIn the wake of the 2019 EU elections, the bloc claimed it was the global champion on a climate-friendly agenda. "This could include more support for nuclear power or even support fracking for cheaper and more reliable gas," they added. "An even larger Eurosceptic representation is also likely to weigh against bold reforms which could make enlargement difficult," the analysts said.

Persons: Hadja, Laurie Dieffembacq, Joe Biden, Donald Trump, Biden, Trump, Green, Giorgia, There's Organizations: Belgian, Afp, Getty, European, CNBC, U.S . European Union, U.S, EU, NATO, European Commission, Citi, Bloomberg, European Union Locations: European Union, Europe, U.S, Ukraine, China, Brussels, Beijing, Italy, Rome, Kyiv

☆ European elections 2024: What’s at stake in the world’s biggest multi-country vote
▼ + stars: | 2024-06-06 | by ( Luke Mcgee | ) edition.cnn.com time to read: +11 min

CNN —One of the world’s largest democratic exercises gets underway this week, with some 373 million people across the European Union eligible to vote in elections for the next European Parliament. Pedestrians walk past a banner displayed on the building of the European Parliament in Brussels on May 17, 2024. The European Parliament sits primarily in Brussels, Belgium, but moves roughly once a month to Strasbourg, France. National elections are set to take place in France in 2027, in which right-wing populist Le Pen could emerge victorious. There are EPP members (and certainly ECR members) who will agree with ID members on matters such as immigration and climate change.

Persons: Kenzo Tribouillard, Germany’s Ursula von der Leyen, Ursula von der Leyen, Giorgia Meloni, Yara Nardi, Pen, Emmanuel Macron’s, What’s, Simona Granati, der Leyen, Von der Leyen, it’s Organizations: CNN, European Union, Voters, EU, Getty, European Commission, European Council, Italian, European, European People’s Party, EPP, Progressive Alliance of Socialists, European Conservatives, ECR, Corbis, Von Locations: Ukraine, Gaza, EU, Brussels, AFP, European, Belgium, Strasbourg, France, Lampedusa, China, Europe, Italian, Rome, Italy, Germany

☆ EU elections: How Russian trolls are meddling in the world’s second-biggest democratic vote
▼ + stars: | 2024-06-04 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +11 min

There is a focus on fake stories to influence attitudes on subjects like the wars in Ukraine and Gaza. But for the past year, the climate crisis has been the second-most targeted subject, according to the European Digital Media Observatory (EDMO). Official statistics, however, tell a different story: In 2022, renewables accounted for 23% of the energy consumed in the EU. The EU is considered a global leader in tackling planet-heating pollution, but climate disinformation could undermine the bloc’s ambitious goal to reduce carbon emissions by 90% by 2040, compared with 1990 levels. Its community standards policy in the past had only targeted video, but in April, it was expanded to include audio.

Persons: Morgan Wright, “, streetlights, Paula Gori, ”, Gori, EU DisinfoLab, Wright, Gaizka Iroz, they’ve, “ They’ve, ” Gori, Pallavi Sethi, ’, —, Facebook —, ” Wright Organizations: CNN, European Union, EU, Guardian, Bild, European Digital Media, Facebook, Getty, West, Grantham Research, London School of Economics, stoke, Services, European, Meta Locations: European, Russia, United States, United Kingdom, American, Europe, Germany, Ukraine, Gaza, EU, Spain, France, Biriatou, AFP, Africa, Asia, industrializing, Gori, Italy, Croatia, Poland, England, Grantham, Prague, Russian, Slovakia, Moscow

☆ Apollo Global to provide $11 billion to Intel for Ireland facility
▼ + stars: | 2024-06-04 | by ( ) www.cnbc.com time to read: +1 min

Buyout firm Apollo Global Management will acquire a 49% equity interest in Intel's manufacturing facility in Ireland for $11 billion, the companies said on Tuesday. Apollo will acquire the stake in the Fab 34 facility in Leixlip, Ireland, the U.S. chipmaker's first high-volume location for its Intel 4 manufacturing process using extreme ultraviolet lithography machines. Intel has invested $18.4 billion in the facility till date. Intel will retain full ownership and operational control of Fab 34 and its assets. "This transaction allows us to share our investment with an established financial partner on attractive terms," Intel Chief Financial Officer David Zinsner said.

Persons: David Zinsner Organizations: Apollo Global Management, Intel Locations: Ireland, Leixlip, U.S, France

☆ EU approves Italian aid for $5.4 billion STMicro chip plant
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: +3 min

STMicroelectronics has committed 5 billion euros ($5.4 billion) of investment in what it calls the world's first fully integrated Silicon Carbide (SiC) plant in Italy. The project is backed by 2 billion euros from the Italian state, and is the result of the EU's Chips Act which aims to provide support for Europe's chip industry. The European Commission on Friday approved Italian state aid for STMicroelectronics to build a 5 billion euro ($5.4 billion) microchip plant as Europe battles to reduce reliance on Asian imports for vital manufacturing components. The STMicro plant will produce chips made from silicon carbide, which is more energy-efficient than standard silicon. STMicro is the largest maker of silicon carbide chips, which are more expensive to manufacture than regular silicon chips but favoured by automakers because they are energy-efficient, lightweight and tough.

Persons: STMicroelectronics, Margrethe Vestager, it's, Vestager, STMicro Organizations: Carbide, European, United, European Union, Union, BMW, Renault Locations: Italy, Catania, Sicily, Rome, China, Asia, United States, Catania . U.S, STMicro

☆ The far-right is set to make huge gains in European election. It could define the next five years of European politics
▼ + stars: | 2024-05-31 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

EU politics has always relied on awkward alliances between countries and political ideologies that represent vastly different electorates. Francois Greuez/SIPA/APThe European Parliament is the place where this is most visible at an EU level. Most of the lawmakers (known as MEPs) belong to a political party in their own country. ECR and ID are typical of European Parliament parties in that they are home to a pretty broad group of conservatives. The European Parliament can often seem like looks like a boring, bureaucratic blob, tediously grinding its way through process.

Persons: Francois Greuez, Angela Merkel, Christoph Reichwein, David Cameron, Georgia Meloni, Viktor Orban, Orban, Ursula von der Leyen, Giorgia Meloni, Hungary's Viktor Orban, –, Geert Wilders Organizations: CNN, European Union, National Rally, European, European People’s Party, EPP, European Conservatives, Politico, British, Brexit, Georgia, Ukraine, Russia EU, EU, SS, Nazi, Dursun, ERC, European Commission, Kremlin Locations: United States, South Africa, Mexico, Taiwan, Ukraine, China, EU, France, Belgian, Brussels, Hungary, Russia, Italian, Anadolu, United Kingdom, Germany, Europe, Netherlands, Europe’s

☆ China to invest $845 million on ramping up its advanced EV battery ambitions
▼ + stars: | 2024-05-30 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Earlier this month, the Biden administration imposed major new tariffs on Chinese EVs, advanced batteries and other goods. The European Commission is set to announce early next month its own decision on Chinese EV tariffs, which could spell trouble for Chinese EV makers that export hundreds of thousands of cars to Europe every year. In January, Toyota (TM) said it would launch vehicles with solid-state batteries in a few years, according to Reuters. Samsung SDI said in March that it would begin mass producing solid-state batteries in 2027. GAC Group, a state-owned automaker based in Guangzhou, said in November that it had achieved a breakthrough in solid-state batteries and would roll out vehicles with them in 2026.

Persons: Biden Organizations: Hong Kong CNN, China Daily, West, European, EV, Global, Toyota, Reuters, Samsung SDI, Volkswagen, GAC Locations: China, Hong Kong, Europe, Beijing, Guangzhou

☆ Publishers and advertisers demand that Apple's Tim Cook stop the rollout of an anticipated 'web eraser' tool over fears it'll hobble web advertising
▼ + stars: | 2024-05-29 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The French group of trade associations fears that Apple's web eraser could represent another example of Big Tech implementing disruptive changes over which media and advertising companies have no control. Apple generates advertising and subscription revenue from its Apple News service, though it makes the majority of its ad revenue from search ads within the Apple App Store. A spokesperson for the NMA said the organization hadn't heard back from Apple since it sent the letter on May 10.

Persons: —, Tim Cook, Apple's Cook, Thierry Breton, Apple, NMA, hadn't Organizations: Service, Apple, Business, Safari, Alliance, SRI, Union des Marques, Big Tech, Google, Facebook, Publishers, Apple News, French Competition Authority, Europe's, UK's News Media Association, Daily Mail, Guardian Locations: France, Europe, Germany

☆ Western countries are lining up to name and shame China for overproduction
▼ + stars: | 2024-05-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Read previewWestern countries are lining up to call out China for its barrage of cheap exports that are flooding the world's markets. "We will continue to monitor the potential negative impacts of overcapacity and will consider taking steps to ensure a level playing field, in line with World Trade Organization (WTO) principles." China pushes back on criticism, industrial profits rose in AprilBeijing has consistently resisted the West's criticism that it is dumping cheap goods on the world market. Chinese authorities say the West's accusations are protectionist and aimed at containing China's economic growth. In April, profits at China's industrial companies rose 4% from a year ago, reversing a drop in March, according to official statistics released on Monday.

Persons: —, Janet Yellen, Olaf Scholz, Bruno Le Maire, Yu Weining, Joe Biden, Biden, Josh Lipsky, Lipsky Organizations: Service, Business, EU, Bloomberg, World Trade Organization, China's Commerce Ministry, European Commission, International Monetary Fund Locations: China, France, Stresa, Italy, Beijing, United States

☆ Live updates: Israel-Hamas war in Gaza, ICJ ruling, Rafah invasion looms
▼ + stars: | 2024-05-24 | by ( Chris Lau | Sana Noor Haq | ) edition.cnn.com time to read: +1 min

European Union flags fly outside the European Commission building in Brussels, Belgium, on April 12. They add: “It was precisely to avert such a grim world order that our grandparents, witnesses of the horrors of World War II, created Europe. The calls come in the same week that three European countries – Ireland, Spain and Norway - announced plans to formally recognize a Palestinian state. Although Norway is not an EU member, the plans do have the potential to exert greater pressure on the countries’ western allies to take a tougher stance on the Israel-Hamas conflict. But the move is not a coordinated European effort and the bloc has long struggled to speak with one voice.

Persons: Kenzo Tribouillard, “, ” Organizations: European Commission, Getty, European, EU Locations: Brussels, Belgium, AFP, Gaza, Israel, Europe, Ireland, Spain, Norway, Palestinian

☆ Chinese EV makers continue aggressive push into Europe under growing threat of tariffs
▼ + stars: | 2024-05-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

PARIS — Chinese electric carmakers are pushing ahead with expansion into Europe, even as politicians raise the possibility of high tariffs on vehicles from the world's second largest economy. The result of this probe could lead to tariffs on Chinese EV imports. The U.S. has already taken such a step, with the Biden administration imposing 100% tariffs on Chinese EV imports this week. Chinese EV makers have been aggressively expanding overseas, as they look to challenge Elon Musk's Tesla internationally but also to gain an early lead ahead of established automakers. China's EV industry has boomed over the years thanks to incentives and support from the Chinese government, which has concerned politicians in Europe and the U.S.

Persons: Xpeng, BYD, Biden, Elon Musk's Tesla, Bruno Le Maire Organizations: European Commission, EV, Companies, U.S, CNBC, French Finance Locations: Amsterdam, Netherlands, France, Paris, PARIS, Europe, China, U.S

☆ The West is tapping Russian money to arm Ukraine. Much more could follow
▼ + stars: | 2024-05-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

London CNN —Money generated by Russian financial assets frozen in Europe will soon start flowing to Ukraine, giving Kyiv a boost as it struggles to counter an advance by Moscow’s troops. The plan “would essentially bring forward that flow of interest proceeds from the assets… (through a loan) given to Ukraine,” Yellen told broadcaster Sky News in an interview this week. “Ukraine has substantial needs, and being able to marshal significant resources to help Ukraine is important,” she said. Most of the frozen Russian money is held in Europe, and the euro is the world’s second-most important currency after the US dollar. This would give Kyiv access to a much larger amount of money than using future or current windfall profits from Russian assets.

Persons: Janet Yellen, ” Yellen, Gabriel Bouys, Joe Biden, ” Lee Buccheit, Trade Valdis Dombrovskis, Yellen, there’s, —, Buchheit, Putin, ” Organizations: London CNN, Union, Sky News, “, US, Getty, University of Edinburgh Law School, CNN, EU, Trade, Reuters, Russia, Ukraine, World Bank Locations: Europe, Ukraine, West, Italy, Russia, Ukraine’s, Kharkiv, Frankfurt, Germany, “ Ukraine, Stresa, AFP, EU, Belgium, Kyiv

☆ Big Tech goes on AI charm offensive in Europe as regulators circle
▼ + stars: | 2024-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

It's worth noting that their comments come as the world's first major law governing AI, the EU's AI Act, was given the final greenlight. Meanwhile, European Commissioner Thierry Breton, a major architect of rules around Big Tech, is set to speak later in the week. Vogels, who is tasked with driving technology innovation within Amazon , said that AI can be used to "solve some of the world's hardest problems." Manyika said Google open-sourced its watermarking tech so that any developer can "build on it, improve on it." "I am concerned that there is potential for monopolies to emerge around Big Tech and AI," he said.

Persons: Rafael Henrique, Lightrocket, Werner Vogels, Society James Manyika, Thierry Breton, Vogels, Manyika, it's, Google's, Gemma AI, Emmanuel Macron, Eric Schmidt, Yann LeCun, Macron, Matt Calkins, Appian, Calkins Organizations: Getty, France —, Viva Tech, Amazon Chief, Google, Technology, Society, Regulators, Big Tech, European Union, Microsoft, Amazon, Meta, Elysee, CNBC Locations: PARIS, France, Paris, Jakarta, Indonesia, View , California, U.S

☆ Oreo-maker Mondelez fined $366 million for rigging European markets
▼ + stars: | 2024-05-23 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —Mondelez, the maker of Oreo and Cadbury Dairy Milk chocolate, has been fined €337.5 million ($366 million) for hindering the trade of chocolate, cookies and coffee between European Union countries in order to keep prices high. Margrethe Vestager, the EU’s competition chief, said in a statement Thursday that Mondelez had illegally limited cross-border sales within the EU to maintain higher prices for its products. The European Commission, which started looking into the case in 2019, found that Mondelez International (MDLZ) had deliberately restricted cross-border trade and abused “its dominant position” in some national markets for the sale of chocolate bars. Mondelez made an accrual for the fine last year and no further measures will be necessary to finance it. In another case, Mondelez required a customer to charge higher prices for exports compared with domestic sales.

Persons: London CNN — Mondelez, Margrethe Vestager, Mondelez, “, Mark Thompson Organizations: London CNN, Cadbury, Union, European Commission, Mondelez International, EU Locations: Netherlands, Belgium, Germany, Austria, Bulgaria, Romania

☆ Spain, Norway and Ireland’s recognition of a Palestinian state is likely to have little impact on Israel
▼ + stars: | 2024-05-22 | by ( Luke Mcgee | ) edition.cnn.com time to read: +3 min

CNN —Europe has struggled over the Middle East for a very long time. The decision by Ireland, Spain and Norway to recognize a Palestinian state tells us more about the domestic politics of those countries than anything else. In Ireland, Spain and Norway, support for a Palestinian state chimes with the broader electorate and is unlikely to receive any political blowback. European countries simply do not have a huge amount of influence in this area. That isn’t to say Europeans didn’t care about the Middle East, specifically the Palestinian cause.

Persons: Benjamin Netanyahu, Israel, Israel – Organizations: CNN, Israel, European Union, European Commission, European, EU Locations: Europe, Ireland, Spain, Norway, Israel, Palestinian, Germany, Hungary, Poland, Palestine, Oslo, European Union

☆ Saudi king to be treated for lung inflammation, state news agency says
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Photo: Oliver Weiken/dpa (Photo by Oliver Weiken/picture alliance via Getty Images)Saudi King Salman will undergo treatment at Al Salam Palace in Jeddah for a lung inflammation, the state news agency said on Sunday, hours after he underwent medical tests. Citing the royal court, the state news agency said the 88-year-old king would be treated with antibiotics until the inflammation subsides. Earlier on Sunday, King Salman underwent medical tests at the royal clinics at Al Salam Palace due to "high temperature and joint pain", the Saudi state news agency said. King Salman, the custodian of Islam's holiest sites, became ruler of the world's top oil exporter in 2015 after spending more than 2-1/2 years as the crown prince and deputy premier. Saudi Arabia's embassy in Japan did not immediately respond to a request for comment about the crown prince's cancelled trip.

Persons: Abdel Fattah el, Saudi King Salman bin Abdulaziz Al Saud, Jean, Claude Juncker, Oliver Weiken, Saudi King Salman, King, Prince Mohammed bin Salman, Yoshimasa Hayashi, King Salman of, Prince Mohammed's, Hayashi, King Salman, Jake Sullivan, Emperor Naruhito, Fumio Kishida Organizations: Arab League, European Union, of Arab, Getty Images, Al Salam, Saudi, Al, U.S . National Locations: Egypt, Sharm El, Saudi King, Sharm, Saudi, Jeddah, Japan, Saudi Arabia, King Salman of Saudi Arabia, Tokyo, Washington, Riyadh, Saudi Arabia's

☆ Meta’s Facebook and Instagram probed over fears they may be too addictive for children
▼ + stars: | 2024-05-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The European Union is worried that Meta is failing to protect children on its platforms, Facebook and Instagram, and has launched a formal investigation that could result in a hefty fine. The probe is the latest evidence that regulators are increasingly focussing on the harmful impact of Meta’s platforms — and other social media — on young users, including by encouraging addictive behavior. The European Commission, the EU’s executive arm, will consider whether Meta (META) has complied with its obligations under the Digital Services Act (DSA), the bloc’s sweeping new law for online platforms. The legislation requires online platforms to put in place measures to protect children, including by preventing them from accessing inappropriate content and ensuring a high level of privacy and safety. The European Commission is concerned that Facebook’s and Instagram’s online interfaces “may exploit the weaknesses and inexperience of minors and cause addictive behavior,” it said in a statement Thursday.

Persons: Meta, Thierry Breton, ” Meta Organizations: London CNN, Facebook, European Commission, Digital Services, European, Meta, CNN, New Locations: New Mexico, Gaza

☆ Meta slapped with child safety probe under sweeping EU tech law
▼ + stars: | 2024-05-16 | 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. Facebook parent company Meta on Thursday was hit with a major investigation from the European Union into alleged breaches of the bloc's strict online content law over child safety risks. The Commission added that it is concerned about age verifications on Meta's platforms, as well as privacy risks linked to the company's recommendation algorithms. "This is a challenge the whole industry is facing, and we look forward to sharing details of our work with the European Commission." The EU said it will carry out an in-depth investigation into Meta's child protection measures "as a matter of priority."

Persons: Mark Zuckerberg, Meta, Thierry Breton Organizations: Dirksen, Facebook, Meta, European Union, European Commission, CNBC Locations: Washington ,

☆ The impact of Instagram and Facebook on kids is under scrutiny once more
▼ + stars: | 2024-05-16 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

The EU is investigating Meta over concerns its platforms are fueling addiction among minors. It comes as Meta faces growing legal pressure in the US over the impact of its platforms on kids. AdvertisementMeta is facing more questions over whether it's doing enough to protect kids on Facebook and Instagram. The European Commission, the bloc's regulatory body, said it would also investigate whether Meta's age-verification tools are stopping minors from accessing inappropriate content. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Regulators, Service, Meta, Facebook, EU, European Commission, Business

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