The FTC has brought back its expert economic witness Scott Hemphill to rebut arguments from Meta’s experts about the company’s alleged monopoly power. Hemphill begins his rebuttal testimony by arguing that Meta’s experts used flawed analyses that do not get at the relevant questions to determine whether the company has monopolized a market for personal social networks.
The European Commission has launched an investigation into Pornhub, Stripchat, XNXX, and XVideos under the Digital Services Act over concerns about their lack of “appropriate” age verification tools. Platforms found to have breached DSA rules can face fines of up to six percent of their annual turnover, but it will take several months to reach a verdict.
“A lot of people put on the same hedge trade as I did.”
Inside the $TRUMP coin dinner.
He signed a series of executive orders today meant to revive the nuclear energy industry in the US, which has struggled to compete with cheaper sources of electricity. The president could also hit the Nuclear Regulatory Commission with layoffs as part of a broader reorganization of the agency.
When asked about his latest tariff threat toward Apple, President Donald Trump said the 25 percent tax would affect Samsung and other phone makers, too. “It would be also Samsung and anybody that makes that product, otherwise it wouldn’t be fair,” Trump said during a White House briefing.
Last week, Trump warned Apple CEO Tim Cook that he’s “not interested in you building in India,” and instead wants to bring iPhone production to the US — a move many experts have said won’t work.
GOP lawmakers passed resolutions rescinding federal approval of California’s plans to require that all car sales be zero-emission by 2035, as well as policies limiting nitrogen oxide emissions and other pollutants from trucks.
Republicans fast-tracked passage of the resolutions using a maneuver that nonpartisan watchdogs said should be barred, and that Governor Gavin Newsom calls illegal. The Clean Air Act gives California authority to set state pollution limits that are more stringent than federal regulation.
The tariff Trump is “recommending” would start on June 1st, but no official action has been ordered yet. His post on Truth Social says the European Union was “formed for the primary purpose of taking advantage of the United States on trade,” and blames the bloc for a US trade deficit of $250 million per year.
Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States.
[truthsocial.com]
The Justice Department is investigating whether Google crafted its agreement to skirt regulatory scrutiny, Bloomberg reports. The deal brought Character.AI’s co-founders back to Google and didn’t technically involve an exchange of shares, though investors were set to receive a payout, The Verge previously reported. Google spokesperson Peter Schottenfels told Bloomberg that Google is “always happy to answer any questions from regulators,” and added that Character.AI remains separate, with no ownership stake by Google.
