META Sep 2024 930.000 put
| Previous close | 418.54 |
| Open | 418.57 |
| Bid | 0.00 |
| Ask | 0.00 |
| Strike | 930.00 |
| Expiry date | 2024-09-20 |
| Day's range | 418.37 - 419.50 |
| Contract range | N/A |
| Volume | |
| Open interest | N/A |
- Yahoo Finance Video
Fed's Powell at ECB Forum, EU-Big Tech regulations: Catalysts
Tuesday's market action is in full swing, with stocks reacting to May's job openings data from the US Bureau of Labor Statistics JOLTS (Job Openings and Labor Turnover Survey) report. Catalysts Host Madison Mills covers the top market and economic stories this hour, which includes Yahoo Finance reporting on Federal Reserve Chair Jerome Powell's latest inflation comments from the European Central Bank (ECB) Forum on Central Banking in Portugal. The labor market is in focus ahead of the June jobs report scheduled to be released Friday morning, July 5. Imperial College Business School professor of economics Tommaso Valletti comes onto the show to talk about the European Union's (EU) latest regulatory battles against Big Tech titans Apple (AAPL) and Meta Platforms (META) under its Digital Markets Act (DMA). TD Bank Global Head of FX and EM Strategy Mark McCormick joins Catalysts in-studio to discuss the influence the Fed's interest rate journey and the 2024 US presidential election could have on the US dollar. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Big Tech-EU regulation battle is 'new chapter in an old movie'
Meta Platforms (META) is under fire by EU regulators who claim the company's ad subscription model is a pay-for-content scheme that requires users to choose between paying a fee or handing over more personal data to use for targeted advertising. Imperial College Business School professor of economics Tommaso Valletti joins Catalysts to discuss Big Tech's regulation issues in the EU. Valletti notes that the European Commission tried to use antitrust laws to curb the market power of some Big Tech companies. However, that approach moved slowly, so they decided to regulate companies under the Digital Markets Act (DMA), which is a new policy that is designed to target companies identified as "gatekeepers." Meta was identified by the Commission as a "gatekeeper" and could be faced with fines for violating the Digital Markets Act in its advertising model. Companies charged under the Digital Markets Act may respond, which would kick off a regulatory dialog. Valletti says, "I suspect that the stakes are so high because the philosophy of the European Commission is that they would like some Big Tech companies to change the business model. So in terms of Meta, it's about data collection. In terms of Apple (AAPL), they have an ecosystem which is completely closed and they want to have a revolution there. But these companies are making so much money that for them, it's better to fight on legal grounds instead of changing the business model." He explains that fines for violating the act are more like a "slap on the wrist" compared to the revenue generation of Big Tech names like Apple, Meta, and Alphabet (GOOG, GOOGL): "Those fines don't really help at all if you want a certain conduct to be changed. And so you have to impose higher fines that DMA has the power to impose up to 10% of the global turnover. So actually this would be fines that hurt more. But then you have to go through courts to see whether this is going to happen or not. To me, it's more important, not that the fines are imposed, but the behavior of firms changes up-front because you don't want to fine people after they drive too fast. You want people to start slowing down." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl
- Associated Press Finance
Brazil data regulator bans Meta from mining data to train AI models
Brazil’s national data protection authority determined on Tuesday that Meta, the parent company of Instagram and Facebook, cannot use data originating in the country to train its artificial intelligence. Meta's updated privacy policy enables the company to feed people’s public posts into its AI systems.
