EU hits Elon Musk's X with $140 million fine over business practices

The European Union has imposed a landmark fine of approximately $140 million on Elon Musk's social media platform, X, for deceptive practices related to user verification and insufficient transparency in advertising. This penalty marks the EU's first significant enforcement action under its new digital regulations, highlighting the bloc's commitment to ensuring accountability in the digital space.

Prime Minister Keir Starmer has rejected the idea of the UK joining a customs union with the EU, following comments from Deputy Prime Minister David Lammy, who suggested that countries in such unions benefit economically. Starmer's stance indicates a firm position against closer ties with the EU in this regard.

Former EU Commissioner Pierre Moscovici emphasized that peace in Ukraine cannot be achieved solely through negotiations with Russia, amidst ongoing US-led talks. He highlighted the instability in France and the broader European context as critical factors influencing diplomatic efforts.

Diplomatic efforts to resolve the ongoing conflict in Ukraine have stalled, with U.S. negotiations in Moscow yielding no significant compromises on key territorial issues. The European Union's role has diminished, primarily reacting to U.S. proposals while continuing to support Ukraine through coalition meetings.

Deputy Prime Minister David Lammy has proposed that the UK should consider rejoining a customs union with the EU, suggesting that such a move could yield economic benefits for the country. This statement comes amid ongoing discussions about the UK's post-Brexit trade relationships and economic strategies.

UK ministers are working towards finalizing a youth mobility scheme with the EU by the end of 2026, which would allow tens of thousands of young British and European citizens to live and work in each other's countries. This initiative is part of a broader effort to reset Britain's relationship with Europe following its exit from the EU six years ago.

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.

The European Commission has imposed a €120 million fine on Elon Musk's social media platform X for breaching social media regulations, leaving users exposed to scams and manipulation. The violations included issues related to deceptive verification badges and insufficient transparency in advertising practices.