logo
X plays up blue checkmark disclaimer to stave off possible EU fine, source says

X plays up blue checkmark disclaimer to stave off possible EU fine, source says

The Star12 hours ago

The new logo of Twitter is seen in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
BRUSSELS (Reuters) -Elon Musk's social media company X has highlighted a disclaimer to its blue checkmark in an attempt to head off a possible hefty fine from EU antitrust regulators, a person familiar with the matter said.
The European Commission in July last year charged X with deceiving users, saying that the blue checkmark does not correspond to industry practices and that anyone can pay to get a "verified" status.
The blue checkmark had previously indicated that an account belonged to a public figure whose identity was verified but Musk changed it to indicate it belonged to a paid subscriber after acquiring X in 2022.
X has not admitted wrongdoing and the prominent display of the blue checkmark disclaimer is not part of any settlement proposal with the EU tech enforcer, the person said. The prominent display started a week ago.
The Commission said it took note of X's announcement.
"Our investigation related to the blue checkmark is ongoing," a spokesperson said.
X did not immediately respond to an emailed request for comment.
The EU probe is under the Digital Services Act which requires large online platforms to do more to tackle illegal and harmful content or risk fines as much as 6% of their global annual revenue.
Bloomberg was the first to report on the blue checkmark disclaimer.
(Reporting by Foo Yun Chee; editing by David Evans)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump says Xi to restart rare earth flows, sets date for talks
Trump says Xi to restart rare earth flows, sets date for talks

The Star

timean hour ago

  • The Star

Trump says Xi to restart rare earth flows, sets date for talks

FILE PHOTO: Workers transport soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China October 31, 2010. Donald Trump and Xi Jinping agreed to defuse growing tensions spurred by concerns over the flow of critical minerals needed by American firms.- Reuters WASHINGTON: President Donald Trump said his Chinese counterpart Xi Jinping had agreed to restart the flow of rare-earth materials, as negotiators from the two nations prepare to resume trade talks on June 9 in London. The developments come as the world's two largest economies look to resolve a simmering dispute over tariffs and technology that has unnerved markets. Trump and Xi held a 90-minute call on Thursday (June 5) that saw the two agree to defuse growing tensions spurred by concerns over the flow of critical minerals needed by American firms. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer are set to meet Monday "with Representatives of China, with reference to the Trade Deal,' Trump said Friday on social media. "The meeting should go very well.' Earlier talks between the two countries in Switzerland in May resulted in a tariff truce between Beijing and Washington that set the stage for further discussions on trade. But negotiations between the rivals stalled after the Geneva meeting, with both sides accusing the other of violating the agreement that brought down duties from massive highs. The US expressed concerns over the lack of rare-earth magnets essential for American electric vehicles and defense systems, while China bristled at fresh US restrictions on artificial intelligence chips from Huawei Technologies Co., as well as other advanced technologies and crackdowns on foreign students in the US. Asked Friday if Xi had agreed to restart the flow of rare-earth minerals and magnets, Trump told reporters on Air Force One: "Yes he did.' China also approved temporary export licences to critical mineral suppliers to major US automakers, Reuters reported earlier. But questions remain about what Trump conceded to Xi in their call, which the US president had eagerly sought. The Chinese Foreign Ministry in a statement said that Trump told Xi Chinese students are welcome to study in the US, and Trump later said it would be his "honour' to welcome them. The call between Trump and Xi generated some hope on Wall Street for lower duties between the US and China, although investor optimism was limited, citing the lack of details on key matters and the thorny issues that await negotiators. The inclusion of Lutnick in the new round of talks may signal that Trump is willing to reconsider some of the technology curbs that threaten to hobble China's long-term growth ambitions. - Bloomberg

US jobs steady, stocks rally: Wall Street shrugs off trade fears and Musk-Trump row
US jobs steady, stocks rally: Wall Street shrugs off trade fears and Musk-Trump row

Malay Mail

time2 hours ago

  • Malay Mail

US jobs steady, stocks rally: Wall Street shrugs off trade fears and Musk-Trump row

NEW YORK, June 7 — Major stock indexes pushed higher yesterday as data showed the US labour market is resilient despite uncertainty over President Donald Trump's tariffs, while upcoming US-China talks added to hopes of easing trade tensions. Tesla stocks regained some ground after plunging Thursday following a stunning public row between the company's billionaire boss Elon Musk and Trump. A below-par reading on private hiring this week raised worries about the labour market and the outlook for the US economy ahead of a Labour Department jobs report, a key piece of data used by the Federal Reserve as it decides whether to adjust interest rates. But the report showed hiring in the world's largest economy came in at 139,000 last month, above market expectations. The figure indicates that the US employment market is relatively healthy despite the jolts to financial markets, supply chains and consumer sentiment this year as Trump announced successive waves of tariffs. 'There was concern that the labour market was buckling under the pressure of tariffs and weaker economic growth. However, the May report suggests that the labour market is softening, not falling off a cliff,' said Kathleen Brooks, research director at trading platform XTB, in a note. 'The price action suggests that the market is not taking these risks too seriously, that they do not see a recession in the future and that investors still think that corporate earnings growth will be strong.' The state of the jobs market is critical given how important consumer spending is to the overall economy, said eToro US investment analyst Bret Kenwell. 'While it may not be firing on all cylinders, it's far from showing signs of a major breakdown.' Wall Street mounted a strong comeback, and Paris and London stocks closed higher. Frankfurt was near-flat after sentiment was knocked by the Bundesbank warning Germany could face two more years of recession if a trade war with the United States escalates sharply. For now, however, the eurozone economy is showing signs of resilience, with official data yesterday indicating it expanded at a significantly faster pace than previously estimated in the first three months of the year. The EU's data agency said the 20-country single currency area recorded growth of 0.6 per cent over the January-March period from the previous quarter, up from the 0.3-per cent figure published last month. US-China talks Equity markets were also buoyed as Trump announced US officials would meet a Chinese team in London on Monday to discuss a 'trade deal' on both sides. 'The meeting should go very well,' Trump added in a Truth Social post, a day after speaking with Chinese President Xi Jinping on the phone. Investors are hopeful that high-level engagements could bring an easing of tensions following Trump's 'Liberation Day' global tariff blitz that hit Beijing particularly hard. While a stunning public row between the US leader and his former adviser Musk sent Wall Street into the red Thursday, all three major US indexes closed higher yesterday. Shares in Musk's electric vehicle company Tesla rose 3.7 per cent after tanking a day prior. The president had threatened Musk's multibillion-dollar government contracts and Tesla shares plummeted — wiping more than S$100 billion (RM422.8 billion) from the company's value. Oil prices rose yesterday, driven by the jobs data and nevertheless by prospects for a US-China trade detente, said Mark Bowman, an analyst at ADM Investors Services. — AFP

Trump slams Musk over spending bill row, calls him ‘man who lost his mind'
Trump slams Musk over spending bill row, calls him ‘man who lost his mind'

Malay Mail

time2 hours ago

  • Malay Mail

Trump slams Musk over spending bill row, calls him ‘man who lost his mind'

WASHINGTON, June 7 — US President Donald Trump said yesterday that Elon Musk had 'lost his mind' but insisted he wanted to move on from the fiery split with his billionaire former ally. The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all round. Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP. 'Honestly I've been so busy working on China, working on Russia, working on Iran... I'm not thinking about Elon Musk, I just wish him well,' Trump told reporters aboard Air Force One en route to his New Jersey golf club late Friday. Earlier, Trump told US broadcasters that he now wanted to focus instead on passing his 'big, beautiful' mega-bill before Congress—Musk's harsh criticism of which had sparked their break-up. But the 78-year-old Republican could not stop himself from taking aim at his South African-born friend-turned-enemy. 'You mean the man who has lost his mind?' Trump said in a call with ABC when asked about Musk, adding that he was 'not particularly' interested in talking to the tycoon. Trump later told Fox News that Musk had 'lost it.' Just a week ago Trump gave Musk a glowing send-off as he left his cost-cutting role at the so-called Department of Government Efficiency (DOGE) after four months working there. While there had been reports of tensions, the sheer speed at which their relationship imploded stunned Washington. After Musk called Trump's spending bill an 'abomination' on Tuesday, Trump hit back in an Oval Office diatribe on Thursday in which he said he was 'very disappointed' by the entrepreneur. Trump's spending bill faces a difficult path through Congress as it will raise the US deficit, while critics say it will cut health care for millions of the poorest Americans. The row then went nuclear, with Musk slinging insults at Trump and accusing him without evidence of being in government files on disgraced financier and sex offender Jeffrey Epstein. Trump hit back with the power of the US government behind him, saying he could cancel the Space X boss's multi-billion-dollar rocket and satellite contracts. Trump struck a milder tone late Friday when asked how seriously he is considering cutting Musk's contracts. 'It's a lot of money, it's a lot of subsidy, so we'll take a look—only if it's fair. Only if it's to be fair for him and the country,' he said. Musk apparently also tried to de-escalate social media hostilities. The right-wing tech baron rowed back on a threat to scrap his company's Dragon spacecraft—vital for ferrying NASA astronauts to and from the International Space Station. And on Friday the usually garrulous poster kept a low social media profile on his X social network. But the White House denied reports that they would talk. 'The president does not intend to speak to Musk today,' a senior White House official told AFP. A second official said Musk had requested a call. Tesla giveaway? Tesla stocks tanked more than 14 percent on Thursday amid the row, losing some US$100 billion of the company's market value, but recovering partly Friday. Trump is now considering either selling or giving away the cherry red Tesla S that he announced he had bought from Musk's firm in March. The electric vehicle was still parked on the White House grounds yesterday. 'He's thinking about it, yes,' a senior White House official told AFP when asked if Trump would sell or give it away. Trump and Musk had posed inside the car at a bizarre event in March, when the president turned the White House into a pop-up Tesla showroom after viral protests against Musk's DOGE role. But while Trump appeared to hold many of the cards, Musk also has some to play. His wealth allowed him to be the biggest donor to Trump's 2024 campaign, to the tune of nearly US$300 million. Any further support for the 2026 midterm election now appears in doubt—while Musk could also use his money to undermine Trump's support on the right. — AFP

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store