Meta to change policy after huge EU fine – Brussels

On Tuesday, the stock market closed lower, with the Dow and S&P 500 both experiencing declines, while the Nasdaq Composite managed a slight increase of 0.1%. The S&P 500 ended the day down 0.09%, reflecting a reversal from earlier gains as concerns about economic conditions persisted. This downturn follows a mixed performance in recent trading sessions, where optimism had been buoyed by strong earnings from tech companies like Nvidia.

Thirteen Labour MPs voted in favor of initiating discussions on the UK potentially rejoining the EU customs union, as part of a bill proposed by the Liberal Democrats. The vote resulted in a tie, with 100 MPs supporting and 100 opposing the measure, highlighting a divided stance on this issue within Parliament.

German exports saw a slight increase in October, driven primarily by strong demand for goods within the European Union, which helped mitigate the slowdown in exports to the United States due to tariffs. This development highlights the resilience of Germany's export sector amidst external challenges.

The European Commission announced that Meta, the parent company of Instagram and Facebook, is now allowing users in Europe to opt for sharing less personal data in exchange for receiving less personalized advertisements. This change reflects ongoing regulatory pressures on tech companies regarding user privacy and data management.

Greek farmers have blocked borders, airports, and roads in a protest against delayed European Union funds, highlighting their frustration over financial support that has not been received as expected.

Nine EU nations have expressed significant caution regarding 'Buy European' policies, urging a careful approach to avoid potential trade conflicts and economic repercussions. This stance reflects growing concerns about protectionism within the EU and its implications for international trade relations.

Australia is set to implement a nationwide ban on social media access for individuals under 16, becoming the first major democracy to do so. This legislation, effective December 10, mandates the removal of existing accounts for this age group on platforms like TikTok, Instagram, YouTube, Reddit, and Twitch, aiming to combat online bullying, self-harm content, and addictive design targeting young users.

Concerns are mounting over the artificial intelligence (AI) sector, with fears that it may be a bubble poised to burst. Blake Montgomery, the US tech editor for The Guardian, highlights that major companies like Alphabet, Amazon, and Nvidia, which collectively represent a significant portion of the S&P 500, are heavily invested in AI, raising questions about the sustainability of such investments.