Facebook has just laid off 11 000 employees- here is what Mark Zuckerberg didn’t say

Walmart (WMT) reported earnings of $187.9B, beating estimates. Alibaba (BABA) reported $39.64B revenue, up 9% YoY, but missed earnings estimates. Amazon (AMZN) plans to expand Prime Air to 500 U.S. locations. PayPal (PYPL) is in talks for a potential buyout. NetEase (NTES) reported mixed Q2 results. Futu (FUTU) beat revenue estimates. Nokia (NOK) plans to cut most of its China workforce. Meta (META), Google (GOOG), and Snap (SNAP) won a legal reprieve. NVIDIA (NVDA) explores partnership with Reb

Meta Platforms is facing a lawsuit from 29 US states over allegations that Facebook and Instagram were designed to maximize youth engagement without adequate safety protections. The trial, which could last seven weeks, seeks damages up to $1.4 trillion and platform design changes. Meta denies the claims, citing investments in youth safety. The case may impact how tech companies design products and collect minor data.

Donald Trump's June financial disclosure shows 1,051 trades, with purchases exceeding $49M and sales of at least $28.5M. Notable buys include Berkshire Hathaway, Visa, Mastercard, and Cintas, while Meta Platforms and Motorola were sold. The largest transaction was a $5M-$25M sale of VIG ETF. Trump's accounts made 21,000 trades in 2025, managed by his children. The June 18 trades followed a market selloff triggered by a Federal Reserve meeting.

Meta (META) is facing a trial in the U.S. by four states, accused of designing Facebook and Instagram algorithms to addict children and violate their privacy. The prosecutors seek a $1.5T fine, though the judge called this 'unreasonable.' Meta denies the claims, citing existing protective measures. If found guilty, Meta may need to overhaul its apps' software code, impacting its business model.

A federal trial began against Meta, with New York AG Letitia James and 32 other AGs alleging the company's platforms harmed young users. The lawsuit claims Meta designed addictive features and violated child privacy laws. Meta denies the allegations and is defending itself in court. The trial, expected to last 6-8 weeks, could impact how major platforms address child safety.

Meta is reportedly planning a cloud infrastructure business, Meta Compute, to sell AI computing power and model access, according to Bloomberg. The initiative is led by Santosh Janardhan and Daniel Gross, with two potential approaches under consideration. Meta CEO Mark Zuckerberg hinted at this shift during the company's May earnings call, noting demand from external firms. Meta shares rose over 10% on the news, while neocloud providers CoreWeave and Nebius fell 10.8% and 12.4% respectively. Met