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Meta agrees to pay $25 million to settle lawsuit from Donald Trump after Jan. 6 suspension
Economic Times
·
6m ago
Medial
Meta has agreed to pay $25 million to settle a lawsuit filed by Donald Trump following the suspension of his accounts after the January 6, 2021 Capitol attack. The settlement includes $22 million for Trump’s future presidential library and covers legal fees. The agreement is part of efforts by Meta and its CEO, Mark Zuckerberg, to improve relations with the Trump administration. The case highlights ongoing disputes over social media companies' moderation practices under Section 230.
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Elon Musk's X settles Donald Trump lawsuit
Economic Times
·
5m ago
Medial
X, formerly Twitter, has settled a lawsuit with Donald Trump for approximately $10 million following his account suspension in 2021. Trump sued, claiming wrongful censorship after his account was removed post-Capitol riot. The settlement aligns Elon Musk and Trump's relationship further, with Musk having reinstated Trump's account after acquiring the company. Both parties agreed to dismiss the lawsuit and cover their own costs, though details of the agreement remain undisclosed.
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Mark Zuckerberg to cohost reception with Republican billionaires for Trump inauguration
Economic Times
·
6m ago
Medial
Meta CEO Mark Zuckerberg is cohosting a reception with prominent Republican donors for Donald Trump's inauguration. Despite previously banning Trump from Facebook and Instagram after the January 6 Capitol attack, Zuckerberg is now seeking to improve ties with the former president. The event includes cohosts like Miriam Adelson, Tilman Fertitta, and Todd Ricketts. Zuckerberg recently met Trump at Mar-a-Lago, while Meta donated $1 million to the inauguration fund and adjusted content moderation policies.
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Apple to pay $25 million to settle lawsuit over Family Sharing feature
Economic Times
·
1y ago
Medial
Apple has agreed to pay $25 million to settle a class-action lawsuit related to its Family Sharing feature. The lawsuit, filed in 2019, claimed Apple misrepresented the capability of using Family Sharing to share subscriptions to apps. Apple denied any misleading representations but settled the lawsuit, alleging that millions of consumers downloaded subscription-based apps under the impression they were available for Family Sharing, only to find out after payment that they were not. The settlement comes as Apple faces increasing scrutiny over its app store practices and treatment of developers.
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Tim Cook's comments about iPhone sales in China just cost Apple $490 million
Business Insider
·
1y ago
Medial
Apple has agreed to pay $490 million to settle a class-action lawsuit filed by shareholders. The lawsuit, lodged in 2019, alleged that Apple's CEO, Tim Cook, made false comments about the company's sales in China during a 2018 earnings call. Cook had stated that China was performing well, but shortly after, Apple reduced its revenue forecast and blamed slumping sales in China. The settlement amount is equivalent to about two days of Apple's net income for 2023. The settlement still needs approval from a US District Judge. Apple denied wrongdoing but chose to settle to avoid prolonged litigation.
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Donald Trump expected to shift course on antitrust, stop Google breakup
Economic Times
·
9m ago
Medial
Donald Trump is expected to ease the antitrust policies pursued under President Joe Biden, potentially dropping the bid to break up Google's monopoly in online search. Trump's skepticism about breaking up Google shows the power he holds over these cases. The US Department of Justice is currently pursuing antimonopoly cases against Google, Apple, Meta Platforms, and Amazon.com. However, the final ruling on remedies for Google's search case is not expected until August 2025, giving Trump and the DOJ time to change course. Trump is also expected to relax policies that have irritated dealmakers, such as a reluctance to settle with merging companies.
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Google to pay $350 million to settle shareholders' data privacy lawsuit
Economic Times
·
1y ago
Medial
Google has agreed to pay $350 million to settle a lawsuit by shareholders over a security bug at its defunct Google+ social media website. The settlement resolves claims that Google concealed a software glitch that exposed users' personal data, causing a drop in Alphabet's market value. The lawsuit covers shareholders from April 2018 to April 2019, and Google denies any wrongdoing. This settlement comes after a separate $7.5 million settlement with Google+ users in 2020.
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Google to pay $28 million to settle claims it favoured white and Asian employees
Economic Times
·
4m ago
Medial
Google has agreed to pay $28 million to settle a class action lawsuit alleging it favored white and Asian employees over others by providing higher pay and career advancement. The settlement impacts at least 6,632 employees in California from 2018 to 2024. The lawsuit was led by Ana Cantu, representing Hispanic and Indigenous groups. Google disagrees with the allegations but commits to equitable pay and promotions. Net settlement proceeds are $20.4 million.
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US Meta users report automatic re-follows of president, VP accounts
Economic Times
·
6m ago
Medial
Some Meta social media users reported that their accounts automatically re-followed profiles of President Donald Trump, Vice President JD Vance, and First Lady Melania Trump after they had unfollowed them. This occurred during the transition to the Trump administration's official accounts. Meta's communications director explained that these accounts are managed by the White House, and follow/unfollow requests might take time as accounts change hands. Meta did not immediately comment, leading to user frustration and confusion.
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Sensex, Nifty to see up to 5% gap up on Friday? What's in for D-St as Trump pauses tariffs
Business Today
·
4m ago
Medial
Global equity markets anticipate a positive opening for Indian stocks on Friday, following a 90-day suspension of new US tariffs on all nations except China, announced by US President Donald Trump. The Gift Nifty futures on the NSE International Exchange were up by nearly 750 points, suggesting a strong start for Indian equity markets. This rebound aligns with the broader global market's optimistic response to the tariff suspension.
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Airbnb agrees to pay $621 million to settle a tax dispute in Italy
Economic Times
·
1y ago
Medial
Short-term rental platform Airbnb has agreed to pay 576 million euros ($621 million) to settle a tax dispute in Italy. The settlement comes after Italian prosecutors claimed that Airbnb owed approximately 779 million euros ($840 million) in unpaid short-term rental taxes. However, Airbnb has stated that it will not seek to recover the money from its hosts. The company is also working on implementing tools for hosts to have their taxes automatically withheld and paid to the Italian tax authorities. Italy is an important market for Airbnb, with many hosts using the platform to rent their properties.
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