Technology

Illicit Content on Elon Musk’s X Draws E.U. Investigation
Technology

Illicit Content on Elon Musk’s X Draws E.U. Investigation

The European Union on Monday announced a formal investigation into X, the social media platform owned by Elon Musk, for failure to counter illicit content and disinformation, a lack of transparency about advertising and “deceptive” design practices.The inquiry is perhaps the most substantial regulatory consequence to date of X, which has scaled back its content moderation policies since Mr. Musk bough the service, once known as Twitter, last year. The company’s new policies have led to a rise in incendiary content on the platform, according to researchers, causing brands to scale back advertising.In going after X, the European Union is for the first time using its new authority gained after last year passing a new law, called the Digital Services Act. The policy gives regulators vast new p...
Powell, Fed’s Chair, Unleashes the Bulls
Technology

Powell, Fed’s Chair, Unleashes the Bulls

Higher for (not much) longer The “everything rally” has gone global, sending stocks and bonds soaring in Asia and Europe and lifting U.S. stock futures, after investors got their clearest signal yet that the Fed would begin cutting interest rates soon. Hopes are growing, too, on Thursday that other central banks will follow suit.The Fed delivered an unexpectedly dovish forecast on Wednesday, penciling in three rate cuts next year. Those moves are projected to lower the Fed’s prime lending rate to 4.6 percent, a notable drop from the central bank’s last estimate in September.The revision sent the Dow Jones industrial average to a record high. The S&P 500 also achieved that marker on a so-called total return basis — which would take dividends into account — according to Deutsche Bank ana...