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Google, Meta, TikTok sue to block California youth social media law
The law, known as Assembly Bill 1709, prohibits such platforms from offering underage children "psychologically exploitative features" that could lead to compulsive use, such as providing personal recommendations and sending videos through autoplay features. It also requires the deletion of children's accounts with those features.
Why are US stock futures rising today? Dow Jones, S&P 500 and Nasdaq rebound, but will midterm elections hit Wall Street? Apple, Nvidia, Intel and AMD to watch
US stock market today: A day before the midterm elections, Wall Street is trying to bounce back. Dow futures are up 0.60% at 52,229, S&P 500 futures 0.53% at 7,654.50 and Nasdaq futures 0.84% at 28,773.50. Intel fell nearly 29% in its last session, and AMD, which reports Tuesday, lost 11%. Apple reports today and is seen as safer. Nvidia is up 1.41% premarket.
As US midterms enter last lap, Indian "consultants" suddenly thrust into spotlight
Indian "consultants" are under scrutiny for allegedly engaging in election manipulation on a global scale. These activities reportedly range from creating false narratives on social media networks to shape voter perceptions. Reports say these firms have operated in multiple countries, including the US.
Global Market Today: Asian stocks advance on resurgent AI optimism
The MSCI Asia Pacific Index rose 0.6%, as benchmarks in Australia, Japan and South Korea advanced. The Kospi Index rose 2.6%, with SK Hynix Inc.’s stock climbing after the company reported operating profit that beat estimates. The chipmaker is planning a total of 100 trillion won ($75.4 billion) in shareholder returns for 2026.
World shares are mixed after Wall Street's AI-related losses, while oil prices jump
Global stock markets displayed a mix of outcomes while oil prices surged due to escalating tensions in Iran. Brent crude soared past $114 per barrel, suggesting growing unease within the energy sector. In the U.S., tech giants like Nvidia and Meta Platforms saw significant declines, raising worries about economic repercussions. Concurrently, U.S.
Meta sued in Australia class action over alleged social media harm to children
A class action lawsuit has been filed in an Australia court against Meta Platforms' Facebook and Instagram, alleging the social media platforms exposed children to harmful content and kept them addictive through algorithms.
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EssilorLuxottica's smart glasses boom runs into tougher regulatory scrutiny
Smart glasses that resemble ordinary eyewear are under increased scrutiny from European regulators and advocacy groups, leaving investors questioning whether sales can keep booming as Ray-Ban maker EssilorLuxottica
Global Market Today: Asian shares, US futures rise on AI-trade revival
The MSCI Asia Pacific Index climbed 0.6% with shares gaining in South Korea and Japan. The Kospi Index rose 1.9%, rebounding after one of the country’s worst IPO debuts on record.
Tech under pressure on AI jitters, dollar slips: Markets wrap
South Korea’s Kospi Index — a bellwether for AI investments — dropped 3.5%, with chip heavyweight SK Hynix Inc. heading for its lowest close since April. MSCI Inc.’s Asia Pacific Index fell 1%, diverging from Monday’s tech-led gains on Wall Street.
Global Market: AI trade faces biggest test yet as chip stocks tumble across Asia
Asian AI stocks tumbled as rising bond yields, higher financing costs, and concerns over excessive infrastructure spending weakened investor confidence. South Korea’s Kospi and Japan’s chipmakers suffered sharp losses, while AI-related funding faced tougher scrutiny. Investors increasingly demand sustainable revenues and profits, questioning whether massive AI investments will deliver expected returns.
Philippine lower house approves bill restricting minors' social media access
The Philippines is the latest country, from Greece and Portugal to Australia, Malaysia and Indonesia, to try to curb social media use by minors, as concern grows over its effects on child health and safety.
A timeline of developments in AI safety since the attack on Hugging Face
The episodes have highlighted the vulnerabilities in AI security and raised questions over how the fast-growing technology can be developed safely as its usage becomes more widespread globally.
Australia probes app used in cheap smart glasses over privacy fears
Australia is investigating how and where the firm behind an app used in popular low-cost smart glasses collects and stores personal data, the country's data protection watchdog said Wednesday. "In the absence of any response from Shenzhen Qingcheng to the OAIC's preliminary inquiries, I have no assurance that it is protecting personal data of Australians as required by the Privacy Act," Privacy Commissioner Carly Kind said.
D-Street poised for positive start as GIFT Nifty signals gains
The stock market's positive open saw the Nifty rise by 0.6%, breaking an eight-week streak of losses. Experts note a potential rebound in Indian stocks, driven by favorable Q2 business reports and strong bank results. However, the rupee suffered as it depreciated against the US dollar amid escalating oil prices and exiting foreign funds.
WhatsApp rolls out new parental controls for teenagers: Here's everything you need to know
WhatsApp has introduced enhanced parental controls to assist parents in monitoring their teenage children's app activity. These new features empower parents to adjust privacy settings and approve new group chats, which strengthens online safety. Despite these changes, messaging and calling remain encrypted, prioritizing teens' privacy. This initiative aims to alleviate concerns surrounding minors' safety online, though the implementation may vary regionally as it rolls out.
Global Markets: Tech stocks gain on Anthropic IPO optimism, offsetting high oil, yields
Sovereign yields are an anchor for global markets, a reference price for investing in riskier stocks and a benchmark for mortgages and corporate borrowing. Higher rates pile pressure on government, corporate and household budgets.
Meta taps Australia's Firmus for AI computing capacity in Southeast Asia
Australia's Firmus said on Tuesday it had signed AI infrastructure agreements with Facebook parent Meta Platforms for graphics processing unit compute capacity at its data centre facilities in Southeast Asia.
AI agents take over online shopping: Ecommerce firms rethink pricing, verification
India’s ecommerce and digital platforms are preparing for a surge in personal AI agents that could increasingly make shopping decisions and transactions for consumers, forcing companies to rethink pricing, customer engagement and bot verification.
D-St set for a cautious opening as GIFT Nifty signals muted start
Benchmark Nifty declined by 1.6% due to rising global uncertainties and elevated crude prices. Analysts predict weakness in Indian equities amid geopolitical tensions and market fluctuations. The immediate support level for the index is identified at 23,000, with resistance at 23,200. Foreign portfolio investors sold shares worth Rs 5,027 crore, while domestic investors bought shares worth Rs 4,201 crore. The rupee also weakened against the US dollar amid these developments.
IRDAI proposal hits insurance stocks; FSSAI vs ecomm giants
The insurance regulator has proposed new limits on commissions as part of a wider overhaul. This and more in today’s ETtech Top 5.
ETtech Explainer: Decoding EU’s move to dismantle addictive technology for children
The proposed KIDS Act would set different access rules by age, bring AI companions and conversational chatbots under the bloc’s child-safety framework and require platforms to build safeguards into their services. The proposal comes as governments in several countries consider tighter restrictions on children’s access to social media and other online services.
Banks warn AI shopping bots raise scam, fraud and data-privacy risks
Technology companies including OpenAI, Anthropic, Google and Meta are increasingly promoting AI chatbots as shopping tools, envisioning a future in which shoppers use AI agents to select products and make purchases on their behalf. Retailers, meanwhile, are racing to influence chatbots' recommendations.
D-St braces for weak opening on negative GIFT Nifty cues
Benchmark indices faced pressure and closed negatively on Tuesday. The Nifty is expected to continue its consolidation in a broad range. Foreign portfolio investors were net sellers, while domestic investors bought shares. The Indian Rupee appreciated against the US dollar on Tuesday. Several stocks were placed under the F&O ban for Tuesday's trading.
D-Street poised for positive start as GIFT Nifty signals gains
On Monday, Indian equity markets experienced a positive turn, with the Nifty 50 index rising due to a dip in crude oil prices and widespread purchasing among investors. While foreign portfolio investors sold off shares, domestic institutional players significantly increased their stakes. The Indian Rupee showed strength, aided by the lower crude oil rates.
EU chief to unveil social media, gaming curbs for under-15s
EU chief Ursula von der Leyen will on Wednesday unveil long-awaited plans to protect children from online harm by curbing access to social media, video-sharing platforms, games and AI chatbots for under-15s. Von der Leyen will use her annual keynote speech to the European Parliament to outline new EU legislation, which according to a draft document will set strict limits on access to social media, AI chatbots and online gaming for under-15s.
Limit AI now or humanity will lose its agency, says Nobel laureate Ressa
The Filipino and American journalist, who jointly won the 2021 award in part for her work documenting the power of large tech companies, serves as co-chair of the United Nations' international scientific panel on artificial intelligence, tasked with assessing how AI is transforming lives worldwide.
Limit AI now or humanity will lose its agency, says Nobel laureate Maria Ressa
Nobel laureate Maria Ressa expresses urgent concerns about the risks that artificial intelligence poses to human agency, emphasizing the need for immediate regulation. She encourages citizens to drive legislative changes aimed at holding tech corporations accountable. Ressa outlines AI's progression through social media and manipulation, and highlights the importance of creating platforms that serve the public interest, along with ensuring tech firms face consequences for harm caused.
California governor signs law to limit children's social media risks
California Governor Gavin Newsom signed more than a dozen new laws on Thursday that address various aspects of children's safety online, including one that prohibits social media companies from serving addictive features to users under 16 years old. Instead, it defines "addictive" features as ones that are "psychologically exploitative" and prohibits social media companies from providing children with features such as infinite scroll, algorithmic recommendations and autoplay.
California bans addictive social media features for under-16s, AI chatbot toys
California Governor Gavin Newsom signed technology laws protecting children online. These measures restrict social media features designed for compulsive use. A four-year ban on AI companion chatbots in toys was also enacted. The legislation strengthens online privacy and parental controls for minors. These laws aim to ensure technology supports children's well-being.
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