International
Zuckerberg’s Meta Faces Competition Lawsuit in U.S.
The trial will extend until July 2025. If the FTC wins this first phase, a second and even tougher stage would begin, aiming to argue that forcing Meta to sell Instagram and WhatsApp would directly benefit competition and consumers.
Zuckerberg is back in the news, this time not to announce the purchase of another company, but quite the opposite.
Union Rayo, reported that this time, Zuckerberg has had to defend himself in a trial that could redefine the history of digital business.
The U.S. Federal Trade Commission (FTC) has taken Meta (the parent company led by the mogul) to court, accusing them of eliminating competition through “killer acquisitions” (buying the competition to shut it down).
That’s exactly the case here, and Zuckerberg might have to say goodbye to his last two purchases: WhatsApp and Instagram. How legal is it to buy your competitors so they won’t outshine you? That’s for a judge to decide.
This trial has been open since April 14, and it has revealed some incredible facts, such as that the purchase of those last two social networks, WhatsApp (one billion dollars) and Instagram (19 billion dollars), could be an illegal strategy.
On the stand, Zuckerberg himself admitted that Facebook is no longer used to connect with family and friends. Want to know more about what’s happening to Meta? We’ll tell you below.
“Facebook no longer serves its original purpose”
During his testimony, Zuckerberg admitted that the social network that made him a billionaire is no longer what it used to be.
Today, he explained, Meta is no longer about personal relationships.
Meta is focused on content, discovering viral trends, and following global conversations.
He said it himself: what used to be a platform to share pictures of your cat with distant relatives or childhood classmates is now a showcase where the algorithm is in charge.
Justifying the most controversial acquisitions
The trial also focused (a lot) on Meta’s two most controversial acquisitions: Instagram (in 2012) and WhatsApp (in 2014). Zuckerberg defended both decisions.
He said those platforms wouldn’t have survived without Meta’s investment, and now they’re essential tools for billions of people. Basically, his argument was: “We didn’t destroy them, we made them bigger”
The FTC’s accusations: a strategy to eliminate competition?
In search of a solo reign? Of course, the FTC didn’t see it that way at all.
During the trial, internal emails were shown where Zuckerberg described Instagram as a “terrifying threat” that had to be neutralized “at all costs”.
A rejected 6 billion dollar offer for Snap in 2013 was also revealed, which, according to prosecutors, proves a systematic policy of eliminating rivals.
Was it then a strategy to get rid of the competition? Naturally, the ghost of monopoly is hanging over them, since they have 2 billion direct users between WhatsApp and Instagram alone, with these two companies generating more than half of Meta’s advertising revenue.
“We are not a monopoly”
Meta insists it’s not acting alone. Platforms like TikTok, Reddit, YouTube and X (formerly Twitter) are cited as direct competition.
The company also reminds everyone that all of its acquisitions were legally approved at the time. And of course, undoing them now would just be changing the rules of the tech game.
What’s coming: a battle
The trial will extend until July 2025. If the FTC wins this first phase, a second and even tougher stage would begin, aiming to argue that forcing Meta to sell Instagram and WhatsApp would directly benefit competition and consumers.
What’s at stake?
Basically, the future of how large digital platforms work.
If Meta loses, it wouldn’t be surprising if other giants like Google or Amazon start facing similar lawsuits.
Pressure against big tech isn’t new, but this time, the one on the ropes is Zuckerberg. And this time, there’s no “like” button to save him
International
U.K.–India set to boost bilateral trade by over $34 billion a year
The FTA, which slashes duties on goods including textiles, alcohol and automobiles, was signed Thursday in the presence of Indian Prime Minister Narendra Modi and his UK counterpart, Keir Starmer.
•Indian Prime Minister Narendra Modi and his UK counterpart, Keir Starmer.
U.K. and India’s bilateral trade is set to get a more than $34 billion annual boost over the long term following their free trade agreement, with the countries’ leaders calling it a “historic” deal.
CNBC reported that the FTA, which slashes duties on goods including textiles, alcohol and automobiles, was signed on Thursday in the presence of Indian Prime Minister Narendra Modi and his UK counterpart, Keir Starmer.
Both sides had finalized the trade pact in May after three years of intense negotiations — marked by thorny issues such as visas, tariff reduction and tax breaks.
Talks gained momentum and both governments accelerated to seal the deal as U.S. President Donald Trump’s tariff threats sent the world in disarray.
The agreement between the world’s fifth and sixth largest economies is expected to boost their bilateral trade by 25.5 billion pounds per year by 2040.
Trade in goods and services stood at over 40 billion pounds in 2024.
The deal offers “huge benefits to both of our countries,” boosting wages, raising living standards and bringing down prices for consumers, Starmer said.
India’s Modi lauded the agreement as “a blueprint for our shared prosperity,” highlighting how Indian goods including textiles, jewelry, agricultural products and engineering items would benefit from a better access to the U.K. market.
International
Russian missing plane found in Forest – No Survivors
Amur’s regional governor Vasily Orlov said five children were among those on board and declared three days of mourning.
Russian officials say 48 people were killed when an Angara Airlines plane went down in a dense forest in the far-eastern Amur region.
The Antonov An-24 plane, carrying 42 passengers and six crew, had left Blagoveshchensk close to the Chinese border and vanished from radar screens as it approached Tynda airport, officials said.
A Russian civil aviation helicopter then spotted burning fuselage from the plane on a remote hillside about 16km (10 miles) from Tynda.
Amur’s regional governor Vasily Orlov said five children were among those on board and declared three days of mourning.
Orlov said that according to preliminary data, there were 43 passengers, including five children, and six crew members on board the plane operated by a Siberian airline.
International
EU ready to hit US with 21-billion-euro tariff list
He said the goal should be “zero tariffs” and an open market among Canada, the United States, Mexico and Europe.
MILAN (Reuters) -The European Union has already prepared a list of tariffs worth 21 billion euros ($24.52 billion) on U.S. goods if the two sides fail to reach a trade deal, Italy’s Foreign Minister Antonio Tajani said in a newspaper interview on Monday.
President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the EU starting on Aug. 1, after weeks of negotiations with major U.S. trading partners failed to reach a comprehensive deal.
Tajani also told daily Il Messaggero that to help the euro zone economy the European Central Bank should consider a new “quantitative easing” bond-buying-programme, and more interest rate cuts.
The European Union said on Sunday it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement.
Tajani said the 21-billion-euro package of tariffs the EU has already prepared could be followed by a second set if a deal with the U.S proves impossible.
He added, however, that he was confident that progress could be made in negotiations.
“Tariffs hurt every one, starting with the United States,” he said. “If stock markets fall that puts at risk the pensions and the savings of the Americans.”
He said the goal should be “zero tariffs” and an open market among Canada, the United States, Mexico and Europe.
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