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Instagram head Adam Mosseri to testify at Meta child social media trial
Reuters30d agoneutral
Instagram head Adam Mosseri to testify at Meta child social media trial

Instagram head Adam Mosseri is expected to take ‌the witness stand on Tuesday in ‌a trial over whether Meta Platforms designed ​Instagram and Facebook to addict children without proper regard for their safety. Mosseri is a central witness in the lawsuit ‌by 29 ⁠U.S. states, in what experts call the biggest legal test ⁠yet of social media's effects on young users. Four of the states — California, ​Colorado, Kentucky ​and New ​Jersey — have accused ‌Meta of designing the platforms to hook young users, fueling anxiety, depression and even suicide, while misleading consumers about their safety.

Nvidia Could Drop 20% On Poor Earnings
24/7 Wall St.31d agobearish
Nvidia Could Drop 20% On Poor Earnings

Nvidia enters earnings week with its stock priced for perfection, but a single crack in its numbers could send investors scrambling for the exits. The question is whether any weakness even exists, and what happens if the market finds out the hard way.

Meta Fights FTC Bid To Revive Monopoly Charges
MediaPost34d agoneutral
Meta Fights FTC Bid To Revive Monopoly Charges

"Content posted by friends has become a small fraction of the content that users see on Facebook and Instagram -- less than 15% of posts in Facebook's news feed and 5% on Instagram's feed," Meta tells a federal appellate court.

Exclusive-Dutch regulator fines Uber $966 million for automating driver suspensions, document shows
Reuters34d agoneutral
Exclusive-Dutch regulator fines Uber $966 million for automating driver suspensions, document shows

The Dutch Data Protection Authority (AP) has decided to fine Uber €825 million ($966 million) under European data protection rules ‌for deactivating driver accounts through automated systems without adequately informing them, ‌according to an August 17 decision reviewed by Reuters. The penalty would be the second-largest ever issued ​under Europe's General Data Protection Regulation, behind a €1.2 billion fine imposed on Meta by Ireland in 2023 for unlawfully transferring European Facebook users' data to the United States, which Meta is appealing. Uber said it would also appeal.

Broadcom seeks more than $60 billion in latest AI debt deal, Bloomberg News reports
Reuters35d agoneutral
Broadcom seeks more than $60 billion in latest AI debt deal, Bloomberg News reports

Broadcom is in talks with a group of ‌lenders to raise more than $60 ‌billion in debt for an AI chip financing ​deal that will benefit Anthropic and other companies, Bloomberg News reported on Thursday, citing people familiar with the ‌matter. The financing ⁠could include a roughly $30 billion junior debt tranche, and Broadcom ⁠would guarantee part of the senior-secured tranche possibly ranging from about $60 ​billion to $70 ​billion, the report ​said. Blackstone and Apollo Global Management are in talks with ‌Broadcom to participate ​in the financing, following ​a partnership ​the three companies struck ‌in June, the report added.