Meta Shares Soar on Resilient Revenue and $40bn in Buybacks
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Canada Goose’s stock soars as earnings beat offsets soft guidance
Canada Goose says it will focus on expanding its core product line beyond the parka, and change its approach to marketing by investing in direct-to-consumer operations.MarketWatch - Business -
Meta slapped with child safety probe under sweeping EU tech law
Facebook parent company Meta on Thursday was hit with a major investigation from the EU into risks of its platforms to minors.CNBC - Business - European Union -
Meta Faces Fresh Probe Over ‘Addictive’ Effect on Kids
The EU has launched an investigation into Facebook and Instagram’s child protection measures as part of mounting concerns around minors’ use of social media.Wired - Tech -
Meta Faces EU Probe Over Facebook, Instagram Child-Protection Policies
The investigation, which could eventually lead to a fine, will look into the platforms’ use of algorithms that officials said may stimulate addictive behavior in children.The Wall Street Journal - Tech - European Union -
Meta Faces EU Investigation Over Child Safety Risks
The Digital Services Act, which became active last year,requires social media platforms to work harder to prevent dangerous and illegal content from reaching younger users.Inc. - Business - European Union -
EU investigating Meta over addictive effects of Facebook, Instagram on children
The European Union is investigating Meta, the parent company of Facebook and Instagram, over the potentially addictive effects of its platforms on children. The bloc’s executive arm, the European Commission, opened “formal proceedings” against ...The Hill - Politics - European Union -
Reddit soars after announcing OpenAI deal that allows use of its data for training AI models
OpenAI and Reddit announced a partnership that will allow the ChatGPT maker to train its artificial intelligence models on Reddit content.CNBC - Business -
EU investigates Facebook owner Meta over child safety and mental health concerns
Company’s social media platforms, which also include Instagram, may have addictive effects, says European Commission. • Business live – latest updates. The European Commission has opened an investigation into the owner of Facebook and Instagram ...The Guardian - World - European Union -
Nikkei Drops 0.8%, Dragged by Machinery, Real-Estate Stocks
Japanese stocks were lower in early trade, dragged by falls in machinery and real-estate stocks as caution about the Fed’s policy outlook and borrowing costs persists.The Wall Street Journal - World -
Under Armour to Slash Jobs, Warns of Revenue Drop
CEO Kevin Plank said the sportswear brand has tried to do “too much of too much” and will focus on selling fewer products on discounts.The Wall Street Journal - World -
Hunter, Ewers, Edwards share video game cover
Colorado two-way star Travis Hunter, Texas quarterback Quinn Ewers and Michigan running back Donovan Edwards are sharing the cover of EA Sports College Football 25, set to be released July 19.ESPN - Sports -
Reddit shares climb on ChatGPT deal with OpenAI
Shares of Reddit Inc. rose about 12% in extended trading Thursday after the social-media platform announced a partnership with OpenAI.MarketWatch - Business -
Reddit shares surge as it strikes content deal with OpenAI
Agreement comes as competition for high-quality data to underpin AI models intensifiesFinancial Times - Business -
Elected officials share personal mental health struggles
Sen. John Fetterman of Pennsylvania and Harris County Texas Judge Lina Hildago are some of the most outspoken elected officials telling Americans it's okay to not be okay. Both officials have taken leaves of absence for their mental health ...CBS News - Top stories -
'No financial room,' German minister says as tax revenues drop
Yahoo News - World - Germany -
Newzoo revises 2023 games revenue forecasts down to $184B
Newzoo has adjusted its 2023 games revenue estimates, putting the numbers down from $187 billion to $184 billion.VentureBeat - Tech -
How Zola's Shan-Lyn Ma and Rachel Jarrett Navigate Sharing Leadership
The co-CEOs share the secrets to making their partnership work.Inc. - Business -
BT’s CEO says she ‘loves to squeeze’ short sellers as shares jump
UK’s biggest telecoms group rises 17% as Allison Kirkby announces strategy and raises dividendFinancial Times - Business -
Walmart’s shares hit record high as retailer raises its earnings forecast
Company continues to benefit from consumers seeking the best deals amid persistent inflationFinancial Times - World -
Biogen and Ionis Pharma shares slide as they end development of ALS treatment
The move comes after early-stage trial failed to result in a clear signal it slowed the disease process.MarketWatch - Business