Meta agrees $18bn settlement

Loading player...
Meta, the parent company of Facebook and Instagram, has agreed to an $18bn settlement with 29 US states over claims that its platforms harmed children.
The deal, which is subject to court approval, would require Meta to introduce new rules for teenage users, including daily limits and overnight blocks.

The collapse of what was once one of China’s biggest property developers is now threatening to become a multi-billion-dollar headache for PwC. A Hong Kong judge has ruled that Evergrande’s liquidators can pursue PwC’s global organisation, as well as its Chinese affiliates, over alleged audit failings. They’re seeking around $8.4bn in damages.

And Dolly Parton, one of country music’s biggest stars, has died aged 80. She sold more than 100 million records during a six-decade career, while building a business empire spanning music publishing, film, television and her Dollywood theme park.
26 Aug 11AM English United Kingdom Business

Other recent episodes

US Central Bank Chair says inflation isn't beaten yet

The head of the US Federal Reserve, Kevin Warsh, says policymakers "have work to do" if they are not confident cost-of-living pressures are easing for Americans. Policy makers from 10 nations neighbouring the Baltic Sea have been meeting today to discuss hybrid attacks on their countries. Earlier this month Leipzig…
28 Aug 6PM 28 min

Warsh Warning: Are Interest Rates Heading Higher?

In his first speech at Jackson Hole as Federal Reserve chairman, Kevin Warsh said that while inflation readings had looked better than expected over the summer, they did not show that the current picture had “meaningfully improved”. The new Fed boss stressed that his remarks should not be treated as…
28 Aug 11AM 10 min

AI firms call for countries to beef up their cyber defences... against AI

They warn cyber-attacks which use AI will become both more widespread and more sophisticated in a matter of months as the technology rapidly improves. UEFA is preparing criminal legal action against the President of FIFA, Gianni Infantino. And a barrel of single malt scotch whisky bought in 1971 for $175…
27 Aug 6PM 28 min

Hormuz Oil Flows Recover

More oil is making its way through the Strait of Hormuz, despite the continuing war with Iran, with Kuwait and Qatar among the Gulf producers finding new ways to keep supplies moving. Could tighter restrictions on Facebook and Instagram actually make children safer online? A former Meta engineering director and…
27 Aug 11AM 10 min

Meta agrees to pay up to $18Bn in record legal settlement

The Facebook and Instagram owner was accused by several US States of having addictive products that harm children. Shares in US chip designer Nvidia rise in after hours trading after its 2 quarter results beat market expectations. It remains the world's most valuable company. And we hear about the amazing…
26 Aug 6PM 27 min