Core Insights - Meta's CEO Mark Zuckerberg considered spinning off Instagram in 2018 due to potential antitrust issues, suggesting that companies often perform better after being split [1] - Zuckerberg acknowledged that he acquired Instagram because it had a superior camera compared to Facebook's own development efforts, reinforcing claims that Meta employed a "buy or bury" strategy against competitors [2][4] - The US Federal Trade Commission (FTC) is attempting to reverse Meta's acquisitions of Instagram for $1 billion and WhatsApp for $19 billion, marking a significant legal challenge against the company [3] Group 1: Acquisition Strategy - Zuckerberg's testimony revealed that Instagram was perceived as a rapidly growing threat, leading to the decision to acquire rather than build a competing product [2][4] - He admitted that many of Meta's attempts to create new apps have failed, with most not gaining traction [5] Group 2: Legal Context - The FTC's case against Meta is seen as a test of the Trump administration's commitment to regulating large tech companies [3] - The FTC claims that Meta holds a monopoly in social media platforms, with competitors including Snap's Snapchat and the smaller MeWe [7] Group 3: Market Competition - Meta argues that the FTC has misdefined the social media market, not adequately considering competition from platforms like TikTok, YouTube, and Apple's messaging app [6]

The chip designer Nvidia has said it will build up to $500bn (£378bn) worth of artificial intelligence infrastructure in the US over the next four years, in a sign of manufacturers investing in operations on American soil amid Donald Trump's tariffs. The announcement comes after Trump reiterated threats on Sunday to impose imminent tariffs on the semiconductors that Nvidia makes mostly in Taiwan, and after the chipmaker's chief executive, Jensen Huang, dined at the president's Mar-a-Lago resort earlier this ...

Facebook parent Meta Platforms faces a high-stakes trial in Washington starting on Monday on claims it built an illegal social media monopoly by spending billions of dollars to acquire Instagram and WhatsApp, in a case in which US antitrust enforcers seek to unwind the deals.The acquisitions more than a decade ago aimed to eliminate nascent competitors who could threaten Facebook’s status as the go-to social media platform for users to connect with friends and family, the US Federal Trade Commission claims. ...

Group 1 - The exemption of smartphones, laptops, and other electronic products from import tariffs on China will be temporary, with Trump indicating that these products will still be subject to existing tariffs [1][2] - A national security trade investigation into the semiconductor sector and the entire electronics supply chain is promised by Trump [1] - New duties on critical technology products from China, including smartphones and computers, are expected to be enacted within the next two months [3][4] Group 2 - The US has imposed tariffs on China that have risen to 145%, while China retaliated with a 125% levy on US imports [5] - The volatility in the stock market, particularly the S&P 500 index, has been significant since Trump took office, with a decline of over 10% [5][6] - The recent tariff revisions have raised concerns among economists about potential negative impacts on economic growth and inflation [6][7] Group 3 - China's commerce ministry has described the US's recent tariff exemption move as a "small step" and called for a complete cancellation of the tariff strategy [7] - In response to the trade war, China is seeking to strengthen ties with neighboring countries, with President Xi Jinping planning a visit to Vietnam [8]

Group 1 - US stock markets are expected to recover following Trump's exclusion of smartphones and laptops from tariffs, which is anticipated to boost shares of Apple and Nvidia [1][2] - The temporary exemption is viewed as a response to pressure from Republican leaders concerned about rising smartphone costs potentially affecting voter sentiment [2][5] - US retailers import approximately 80% of smartphones, many from China, which currently faces tariffs totaling 145% [2][3] Group 2 - US Customs and Border Protection confirmed that laptops, smartphones, and certain chips will be exempt from tariffs, avoiding both the China tariff and a 10% baseline tariff on other countries [3][5] - Trump indicated that more specific exemption rules would be announced, emphasizing that the US has been profiting from trade, particularly with China [4][6] - The US commerce secretary stated that the reprieve is likely temporary, with plans for a specific tariff on the sector to encourage reshoring of manufacturing [5][6] Group 3 - Apple has committed to relocating some facilities back to the US over the next four years, with an estimated cost of $500 billion, including a new factory in Texas for AI servers [8] - The recent tariff imposition led to significant losses for major tech companies, with a total decline of $2.1 trillion, or 14% of their value, before recovering after the tariff pause [9]

Tesla has stopped taking orders in China for two models it previously imported from the US, as companies scramble to adapt to prohibitive tariffs imposed in Donald Trump’s trade war.The manufacturer, run by Trump’s close ally Elon Musk, removed “order now” buttons on its Chinese website for its Model S saloon and Model X sports utility vehicle.Tesla did not give any indication of why it had made the changes but it came after the rapid escalation of the trade war between the US and China. In tit-for-tat move ...

Core Insights - Nintendo has officially announced the launch of its new console, the Nintendo Switch 2, set for June 5 at a retail price of £395.99 for the basic package and £429.99 for the bundle with Mario Kart World [1] Technical Specifications - The Nintendo Switch 2 features a larger 7.9-inch screen with double the pixels of the previous model, offering 1080p resolution and supporting up to 120 frames per second, while maintaining the same thickness as the original [2] - The console's dock supports connection to a TV with up to 4K resolution [2] - Improved built-in speakers now support 3D audio, and the new stand provides more sturdy support with various viewing angles [8] Controller Innovations - The redesigned Joy-Con 2 controllers connect magnetically and feature larger SL and SR buttons for comfort [3] - Each Joy-Con can function as a mouse, equipped with a rollerball for precise movement [3] Game Titles and Features - Launch title Mario Kart World features detailed circuits and an open-world map, allowing off-road racing [4] - Other announced titles include Legend of Zelda Hyrule Warriors: Age of Imprisonment, Kirby Air Riders, and Donkey Kong Bananza, with the latter set to release on July 17 [6] - Several third-party titles were introduced, including The DuskBloods from From Software, expected in 2026, and other notable games like Elden Ring Tarnished Edition and Hades II [7] Backward Compatibility and Upgrades - The Switch 2 is a hybrid system, allowing gameplay on both its built-in screen and a TV, with full backward compatibility for most original Switch games [9] - Upgraded versions of popular titles like Legend of Zelda Breath of The Wild and Metroid Prime 4 will be available, featuring enhanced visuals and new gameplay features [9] Social Features - The new console emphasizes social features, including a GameChat function for in-game communication and a camera for video chat while playing [14] - A GameShare feature allows users to share a single game with up to three other players on their own Switch 2 devices [14] Market Position - The original Switch, launched in March 2017, sold over 150 million units, making it Nintendo's most successful home console [15] - While the Switch 2 may not match the technical specifications of competitors like PlayStation 5 and Xbox Series X, Nintendo focuses on innovation and game quality [15]

Tesla sales declined in the first three months of the year, another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers.The drop of 13% is likely due to a combination of factors, including its ageing lineup, competition from rivals and a backlash from Musk’s embrace of rightwing politics. It also is a warning that the company’s first-quarter earnings report later this month could disappoint investors.Tesla reported deliveries of 336,681 vehicles globally in the Januar ...

Core Points - Block, Jack Dorsey's financial technology company, plans to lay off nearly 1,000 employees and make significant operational changes, marking its second major workforce reduction in just over a year [1][2] - The layoffs will affect over 930 employees, with nearly 200 managers transitioning to non-management roles and around 800 open positions being closed [2] - Dorsey emphasized that these changes are not aimed at achieving specific financial targets or replacing staff with AI, but rather to enhance performance and streamline operations [4][5] Company Operations - Block operates several payment platforms, including Square and Afterpay, as well as the money transfer app CashApp and the music streaming service Tidal [3] - The company has implemented a headcount maximum of 12,000 employees as part of a previous reorganization that also resulted in approximately 1,000 job losses [4] Financial Performance - Block's stock has decreased by 29% this year, with revenue and profit growth slowing, raising concerns among shareholders [6] - Dorsey noted that part of his role is to increase the company's stock value, and the current reorganization is intended to improve focus and execution [6] Industry Context - Dorsey highlighted the need for the company to move faster in response to the transformational changes within the industry to enhance access, openness, and automation [7]

Core Viewpoint - Meta, the owner of Facebook and Instagram, is considering introducing a subscription service for UK users to access an advert-free version of its platforms following a settlement in a significant privacy lawsuit [1][4]. Group 1: Legal Settlement - Tanya O'Carroll, a human rights campaigner, filed a lawsuit against Meta in 2022, claiming the company violated UK data laws by not respecting her request to stop collecting her data for targeted advertising [2]. - The lawsuit was settled on Friday, with O'Carroll declaring a "victory" as Meta agreed to cease using her personal data for targeted ads, supported by the UK's Information Commissioner's Office (ICO) [3][4]. - O'Carroll emphasized that the ICO's position could lead to more lawsuits regarding privacy rights, highlighting the importance of individual privacy in the digital age [4]. Group 2: Meta's Response and Future Plans - Meta expressed disagreement with O'Carroll's claims but acknowledged its commitment to UK privacy laws, specifically GDPR, and is considering a subscription model for UK users to avoid ads [4][5]. - The company already offers a no-ads service in the EU for €7.99 per month, following a ruling by the European Court of Justice in 2023 [5]. - Advertising constitutes approximately 98% of Meta's revenue, indicating a significant shift in strategy if a subscription model is implemented [4].