The UK government has secured shipments of coking coal and iron ore from the US and Australia to keep British Steel's Scunthorpe blast furnaces operating for several weeks. This follows a weekend takeover after negotiations with the Chinese owner, Jingye, broke down. The government's intervention aims to prevent the...
Meta CEO Mark Zuckerberg testified before the FTC, defending Meta's acquisitions of Instagram and WhatsApp. The FTC alleges these acquisitions created a social media monopoly, potentially forcing Meta to divest if found guilty. Zuckerberg argued that Meta faces significant competition and that regulators approved the acquisitions years ago. ...
The IRS announced tax filing deadline extensions for Americans affected by 2024 natural disasters. Those in FEMA-declared disaster areas, including parts of Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia, have until May 1st to file, instead of April 15th. Los Angeles wildfire victims have...
Mark Zuckerberg testified in the FTC's antitrust trial, defending Meta against claims of anti-competitive practices. The trial focused on Meta's 2012 acquisition of Instagram, with the FTC alleging it was a move to eliminate a rival. Zuckerberg explained his reasoning behind the acquisition, citing Instagram's rapid growth and...
Global stocks rallied Monday following President Trump's temporary tariff relief on electronics and hints of auto tariff pauses. The S&P 500 rose 0.8%, the Dow gained 312 points, and the Nasdaq added 0.6%. Technology and auto stocks led the gains. While the bond market showed signs of...
Five small businesses have sued President Trump, challenging his newly imposed tariffs as an illegal overreach of congressional power. The lawsuit, filed in the U.S. Court of International Trade, argues that Trump's declaration of a trade deficit emergency to justify the tariffs lacks legal basis. The Liberty Justice...
The FTC's antitrust trial against Meta began with the presentation of emails allegedly showing Mark Zuckerberg's intention to neutralize competitors like Instagram and Snapchat through acquisitions rather than competition. These emails, described as "smoking guns," suggest a decade-long strategy of buying rivals to maintain Facebook's dominance. Zuckerberg will...
Meta CEO Mark Zuckerberg testified in an antitrust trial against the FTC, defending Meta's acquisitions of Instagram and WhatsApp. The government argues these acquisitions created a monopoly by eliminating competition, while Zuckerberg contends the social media market is broader than the government defines it, encompassing entertainment and information sharing...
Five small businesses are suing President Trump, challenging his newly imposed tariffs as an illegal overreach of congressional power. The lawsuit, filed in the U.S. Court of International Trade, argues that Trump's claim of a trade deficit emergency doesn't justify unilaterally imposing tariffs under the International Emergency Economic Powers...
President Trump's statement regarding aid for automakers shifting production to the U.S. boosted auto stock prices. Following a meeting with Salvadoran President Bukele, Trump indicated he's exploring ways to assist companies transitioning from foreign to domestic parts. This comes after he imposed 25% tariffs on imported vehicles on...
