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The Latest Breaking News from Meta

Meta Is Latest Big Tech Company to Disappoint the Markets

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.61%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.15%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.09%. Stocks today are lower on disappointing news from Meta...

Barchart

Prosecutors Turn Their Extortion Racket Against Facebook and Instagram

The propensity of prosecutors to jump to conclusions before all the evidence is in is very destructive—and nothing new.

Reason

Pro-Palestinian Instagram account locked by Meta for ‘security reasons’

The @eye.on.palestine account unavailable to view after ‘signs of compromise’ were detected

The Guardian - UK

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Markets Today: Stocks Under Pressure as Meta Is Latest Tech Company to Disappoint

Morning Markets December E-Mini S&P 500 futures (ESZ2 3) are down -0.43%, and the Dec Nasdaq 100 E-Mini futures (NQZ2 3) are down -0.63%. Stock index futures this morning are moderately lower on disappointing news from Meta Platforms (META ), which is down more than -4% in pre-market trading after...

Barchart

Meta Platforms Q3 Revenue Beats Estimates, Up 23%

Social media giant reports strong financials, driven by increased user engagement and ad impressions.

Zenger

US auto workers union, Ford reach tentative deal on new four-year contract

The largest US auto workers union and carmaker Ford have agreed to terms on a new contract that will see a 25 percent wage increase over four years. This means picketers will return to work at Ford's plants, but strikes at General Motors and Stellantis will continue. Also in this…

France 24

Humanity at risk from AI ‘race to the bottom’, says tech expert

MIT professor behind influential letter says unchecked development is allowing a few AI firms to jeopardise society’s future

The Guardian - US

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Afternoon Update: US mass shooting kills at least 16; Sydney woman found dead identified; and Gen Z want less sex on screen

A man is reported to have opened fire at a bowling alley and bar in Maine’s second-largest city of Lewiston in the US

The Guardian - AU

Meta earnings report reveals most profitable quarter in years

Company reports third-quarter revenue of $34.15bn, beating expected $33.56bn, and shares jumped in after-hours trading

The Guardian - US

42 Attorneys General Unite To Sue Meta Platforms Over Addictive Features Targeting Young Users

Meta faces legal challenges as attorneys general allege intentional design to retain young users

Zenger

Meta 'intentionally manipulates' children to become addicted to social media, lawsuit claims

33 US states are suing the company that owns Facebook and Instagram

Evening Standard

Meta Platforms Q3 Earnings: Revenue Expectations And Key Focus Areas

Meta Platforms Q3 Earnings: Analysts Expect $33.56B Revenue, Focus on AI and User Metrics

Zenger

Meta lawsuit: Instagram owner sued by over 30 US states 'for fuelling youth mental health crisis'

The claimants compare Instagram's features to a dopamine-inducing slot machine

Evening Standard

Up First briefing: Concerns over Israel's war strategy; long COVID origins

The U.S. has concerns violence in Israel and Gaza could spread in the region. Scientists are one step closer to understanding what causes long COVID.

WEKU

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Barchart

Nasdaq Futures Plunge as Alphabet’s Cloud Business Revenue Disappoints, Meta Earnings on Tap

December Nasdaq 100 E-Mini futures (NQZ23) are trending down -0.61% this morning as disappointing results from Alphabet’s cloud business overshadowed upbeat earnings results from Microsoft while investors looked ahead to the next round of corporate earnings.

Android Central

Meta Quest 3 128GB vs. 512GB: Which storage size do you need?

With 512GB now being the default option for the Quest 3, should you bother hunting down a deal for the 128GB variant anymore? Or, is the Quest 3S the best alternative?

Pedestrian.tv

Meta Is Being Sued By Multiple US States Bc They Claim IG’s Addictive Nature Is Hurting Kids

"Meta did not disclose that its algorithms were designed to capitalise on young users' dopamine responses and create an addictive cycle of engagement."

Chicago Sun-Times

Illinois among 33 states suing Meta, alleging its platforms have harmed kids

The Menlo Park, California-based company formerly known as Facebook is accused of ensnaring youths “while misleading the public about the risks of social media.”

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The Independent UK

States sue Meta claiming its social platforms are addictive and harm children's mental health

Dozens of US states, including California, New York, Arizona and Indiana are suing Meta Platforms Inc. for harming young people’s mental health and contributing the youth mental health crisis by knowingly designing features on Instagram and Facebook that addict children to the platforms

Fortune

AI's big LLM makers all flunked a major transparency assessment

Stanford's Institute for Human-Centered AI released its "Foundation Model Transparency Index," which looked at models including OpenAI, Anthropic, Meta, and Google. The results were not good.

Fortune

Meta is being sued by a majority of U.S. states for allegedly fueling the national youth mental health crisis. Parents don't have to wait for a verdict to intervene

Adolescents who spend more time on social media have an increased risk of symptoms of anxiety and depression.

WEKU

States sue Meta, claiming Instagram, Facebook fueled youth mental health crisis

More than 40 states filed legal actions against Meta on Tuesday, alleging that the company intentionally designed features that hooked a generation of young people.

The Independent UK

States sue Meta for harming young people's mental health, collecting data on children

A group of 33 states including California, New York, Arizona and Indiana are suing Meta Platforms Inc. for harming young people’s mental health and contributing the youth mental health crisis by knowingly designing features on Instagram and Facebook that addict children to the platforms

Fortune

Bipartisan coalition of 33 attorneys general is suing Meta for harming youth

The lawsuit was filed on Tuesday in a California district federal court.

Fortune

Spotify CEO says platform wouldn't exist today because of Apple

Ek was lambasting Apple and Google's 30% fees on their App stores as a new competition bill goes through UK parliament.

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