Shares slumped 15% after Mark Zuckerberg said AI spending would have to grow before Meta could make much revenue from productsBusiness live – latest updatesShares in Meta slumped 15% when Wall Street opened on Thursday, wiping about $190bn off the value of the Facebook and Instagram parent company, as investors reacted to a pledge to ramp up spending on artificial intelligence.Mark Zuckerberg, Meta’s founder and chief executive, said on a conference call on Wednesday that spending on the technology would have to grow “meaningfully” before the company could make “much revenue” from new AI produ[...]
Government accused of trying to undermine independent media with move to replace public broadcaster RTVSEurope live – latest updatesJournalists in Slovakia are protesting against a government move to overhaul the country’s public broadcaster, warning that the populist prime minister, Robert Fico, and his allies are undermining media freedom.On Thursday, many journalists wore black, a day after Slovakia’s government approved a controversial draft law that would replace the public broadcaster RTVS, remove its director general and allow a council partly selected by a ministry to appoint a new chi[...]
Media regulator says no clear consensus among British public to ban politicians presenting on news channelsUK politics – latest updatesNigel Farage will be allowed to present his nightly GB News programme throughout the general election campaign, Ofcom has confirmed, after the media regulator said there was no clear consensus among the British public to stop politicians presenting shows on news channels.The founder of the Reform UK party, which has the backing of 10% of voters in opinion polls, will be allowed to keep broadcasting until polling day providing he does not stand as a parliamentar[...]
High court judge orders actor turned politician to pay £90,000 damages to each individual for social media libelThe actor turned politician Laurence Fox has been ordered to pay £90,000 each in damages to two people he libelled by referring to them as “paedophiles” on social media.A high court judge made the order in London on Thursday. Continue reading...
A price floor means ex-president gets bonus even though Trump Media & Technology Group’s stock value has plummetedFormer president Donald Trump qualified for a bonus worth $1.2bn after shares in his social media company remained above a certain value despite falling sharply.Trump is poised to receive 36m additional shares in Trump Media & Technology Group (TMTG), owner of his Truth Social platform, under an “earn-out” windfall which boosts the paper value of his stake in the business to about $3.7bn. Continue reading...
Celebrating advertisers with scale, influence and integrity, the ceremony recognised brands including Nurofen and Google PixelThe inaugural Guardian Advertising Awards, launched to celebrate scale, influence and integrity across the publisher’s platforms, have recognised brands including Nurofen, Google Pixel and Charlie Bigham’s.The Grand Prix award was given to Nurofen for its See My Pain campaign, which was praised by judges for its real-world impact in tackling awareness of the gender pain gap and the brand’s “commitment to addressing complex health challenges”. The campaign also won in th[...]
Wall Street Journal reporter, held since March 2023 on espionage allegations, to remain in Russian jail for at least two more monthsThe American journalist Evan Gershkovich, who was arrested over a year ago in Russia, will remain in jail for at least two more months after a Moscow court rejected his appeal against his detention.Gershkovich, a 32-year-old reporter for the Wall Street Journal, has been held in the Lefortovo prison on the outskirts of Moscow since March last year on allegations by the Russian authorities of espionage while on a reporting trip in the city of Ekaterinburg. Continue[...]
Gateway Pundit, run by Jim Hoft, is being sued for defamation by Georgia election workers Ruby Freeman and Shaye Moss and othersThe Gateway Pundit, a rightwing website known for spreading election conspiracies, will declare bankruptcy as it faces lawsuits for defamation.The site’s parent company, TGP Communications, will file for bankruptcy in Florida “as a result of the progressive liberal lawfare attacks against our media outlet”, founder Jim Hoft wrote on the website. Continue reading...
Bill gives app owner, ByteDance, a year to divest, and while Biden is expected to sign it, the company plans to fight itWhy is US threatening to ban TikTok and will other countries follow suit?The Senate voted on Tuesday to pass a bill that will either ban TikTok or force a sale of the short-form video app, giving its China-based parent company ByteDance up to one year to divest its crown jewel before facing deletion from US app stores.The vote was a landslide, with 79 senators voting in favor and 18 against. The bill passed in the House on Saturday by a margin of 360 to 58, as part of a forei[...]
Australian federal police have told court there was ‘a real risk’ the video could be used to encourage people to commit terrorist attacksGet our morning and afternoon news emails, free app or daily news podcastThe bishop who was allegedly stabbed in his Sydney church last week has written an affidavit for Elon Musk’s X arguing video of the attack should not be censored as ordered by the Australian online safety regulator, the federal court has heard.Guardian Australia revealed on Wednesday that X was asked by the regulator to remove 65 tweets containing video of the attack, but many of the twe[...]
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