Meta has been fined €798m (£664m) for breaking competition law by embedding Facebook Marketplace within its social network. The European Commission said this meant alternative classified ads services had faced “unfair trading conditions”, making it harder for them to compete. In addition to the fine, it has ordered Meta to stop imposing these conditions on…
Facebook’s parent company, Meta, facing courtroom battle – CBS News Watch CBS News On Wednesday, a judge allowed a Federal Trade Commission lawsuit to move forward that accuses Meta of creating an illegal monopoly with Facebook, Instagram and WhatsApp. CBS News MoneyWatch correspondent Kelly O’Grady explains. Be the first to know Get browser notifications for…
In the summer of 2022, I was walking on the beach at Half Moon Bay in California, when I saw the strangest thing approaching on the waves. When it struck the shore and deflated, I knew: it was a dead whale. But it wasn’t just any whale. It was Fran. “I knew this whale, and…
FTC cracks down on fake reviews with new rule set to ban phony feedback – CBS News Watch CBS News With up to 40% of online reviews found to be fake, the Federal Trade Commission is introducing a new rule to ban deceptive feedback. Nick Thompson, CEO of “The Atlantic,” explains how it will work….
Former U.S. Army intelligence analyst Chelsea Manning says censorship is still “a dominant threat,” advocating for a more decentralized internet to help better protect individuals online. Her comments come amid ongoing tension linked to online safety rules, with some tech executives recently seeking to push back over content moderation concerns. Speaking to CNBC’s Karen Tso…
The Biden-Harris administration announced plans Tuesday to provide up to $750 million in direct funding to semiconductor developer and manufacturer Wolfspeed. The money will be used to support the company’s new silicon carbide factory in North Carolina that makes the wafers used in advanced computer chips and its factory in Marcy, New York. In addition…
Edith Yeung, general partner at Race Capital, and Larry Aschebrook, founder and managing partner of G Squared, speak during a CNBC-moderated panel at Web Summit 2024 in Lisbon, Portugal. Rita Franca | Nurphoto | Getty Images LISBON, Portugal — It’s a tough time for the venture capital industry right now as a dearth of blockbuster…
Jaidev Janardana, CEO of U.K. digital bank Zopa. Zopa LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company’s CEO told CNBC. Zopa posted revenues of £222 million ($281.7 million) in 2023 and…
Amazon has launched a new outlet called Haul which caps the price of products on sale at $20 (£15.79), in an effort to take on low-cost retailers Temu and Shein. The online shopping giant unveiled Haul as a mobile-only experience available in its Shopping app for US customers on Wednesday. It says shoppers can expect…
Legendary Antarctic explorer Ernest Shackleton’s ship Endurance sank more than a century ago and its wreck lay undiscovered at the bottom of the Weddell Sea until March 2022. Now, the team behind its discovery has joined forces with an Oscar-winning film crew for a new National Geographic documentary showcasing how they located the storied vessel’s…
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