- Reuters
Facebook, Instagram in EU crosshairs for suspected tech rule breaches
Meta Platforms' Facebook and Instagram have failed to tackle deceptive advertising and disinformation ahead of key European Parliament elections, the European Commission said on Tuesday as it opened an investigation into suspected breaches of EU online content rules. The move by EU tech regulators came amid concerns about Russia, China and Iran as potential sources of disinformation, but also inside the EU, with some political parties and organisations seeking to attract voters with lies in the June 6-9 vote to select the next five-year parliament. "We suspect that Meta's moderation is insufficient, that it lacks transparency of advertisements and content moderation procedures," EU digital chief Margrethe Vestager said in a statement.
- Reuters
Florida abortion clinics and funds face uncertain future on eve of six-week ban
Florida's ban on abortions past six weeks of pregnancy takes effect this week, threatening the future of the state's clinics and abortion funds and forcing patients to travel hundreds of miles to get the procedure. Phones have been ringing off the hook at clinics and funds in Florida ahead of the Wednesday enforcement date, as newly pregnant abortion-seekers scramble to book appointments before they may have to travel as far as Virginia or New York to get an abortion, eight clinic and fund workers told Reuters. The new law, which lowers the abortion limit from 15 weeks, will have a broader effect across the U.S. South, where 11 other states have already largely outlawed the procedure.
- Reuters
Fed's balance sheet plans could take center stage this week
An announcement from the Federal Reserve to kick off the end game for its balance sheet runoff could come as early as this week's policy meeting, a number of economists say, though an uncertain outlook for interest rates amid sticky inflation could push a "tapering" declaration back to June. Tapering involves slowing the pace of the Fed's quantitative tightening program, under which it has been allowing up to $95 billion a month of Treasuries and mortgage bonds to mature from the central bank's portfolio and not be replaced. Fed officials have been signaling they would soon like to slow QT, noting that by downshifting the pace they can reduce the risk of market stress and perhaps shrink its holdings by a greater degree.
