Elon Musk’s X Hit With $140 Million Fine In Europe For ‘Deceptive’ Practices

The SEC has announced a pause on Wall Street's leverage practices, indicating a shift in regulatory scrutiny aimed at managing financial risks. This decision comes amid concerns about excessive leverage in the market, which could pose systemic risks to the financial system.

SpaceX, founded by Elon Musk, is reportedly discussing a record valuation that could exceed $800 billion, with plans for an initial public offering (IPO) as early as 2026. This valuation would surpass OpenAI's previous record of $500 billion, indicating significant investor confidence in SpaceX's future prospects.

Elon Musk announced that Tesla owners will soon have the ability to text while driving, despite the legality of such actions being prohibited in nearly all 50 states. Safety experts warn that this feature could undermine the automated driving capabilities of Tesla's Full Self-Driving (FSD) technology, raising concerns about driver distraction and safety.

Venezuela, a country with the world's largest oil reserves, is facing significant challenges in oil production amid increasing tensions with the Trump administration. The U.S. has heightened its military presence near Venezuela and closed its airspace, which coincides with ongoing economic turmoil in the nation.

The European Commission has imposed a fine of €120 million on Elon Musk's social media platform, X, citing violations of new digital regulations, including issues related to deceptive practices and user safety. This action reflects ongoing scrutiny of tech companies operating within the EU's regulatory framework.

A US official has criticized the European Union's recent fine imposed on Elon Musk's social media platform, X, claiming that Europe is effectively taxing American companies. This statement reflects ongoing tensions between US tech firms and European regulatory practices.

Elon Musk and Bill Gates have expressed concerns that artificial intelligence (AI) could eliminate all jobs within the next 20 years. However, recent data from LinkedIn indicates that hiring demand is actually on the rise, contradicting these predictions and providing a more optimistic outlook for the job market, particularly for Generation Z.

Cloudflare is currently investigating significant technical issues that have caused widespread outages affecting major web services, including X, LinkedIn, and Zoom. The problems began shortly after 9 AM UK time, leading to difficulties in accessing various online platforms and services.