On May 23, Meta Platforms was slapped with a fine of €1.2 billion ($1.3 billion) and was instructed to refrain from transferring information collected from Facebook users in Europe to the United States. This decision is a significant one and may have far-reaching consequences.
At the same time, TikTok filed a lawsuit against the state of Montana to prevent it from imposing a ban on the app. TikTok claims that the state is violating EU data protection laws, and the company is not willing to let this slide. This move demonstrates TikTok’s determination to fight back against all attempts to curb its popularity.
In other news, Janet L. Yellen has warned that the US could soon fail to pay its bills, with June 1 being the earliest possible date. She shared this announcement with the White House and congressional leaders who are negotiating a higher national debt ceiling. This statement increases the pressure on all parties to come to an agreement quickly.
Finally, an investigation into the former US President Donald Trump’s handling of classified documents has issued a subpoena seeking information on his foreign business dealings since taking office. This move is significant and could mark a new chapter in the ongoing investigation.
It is important to note that Reuters has not verified the accuracy of these articles and therefore cannot vouch for their authenticity.