A landmark jury verdict holding Meta Platforms Inc. and Alphabet Inc. ’s Google liable for harming a young user with products designed to be addictive threatens to put the social networking companies in the same category as Big Tobacco and opioid makers — a potential crack in their shield from legal responsibility for what happens on their platforms. While the $6 million in damages a jury in Los A...
A landmark jury verdict holding Meta Platforms Inc. and Alphabet Inc. ’s Google liable for harming a young user with products designed to be addictive threatens to put the social networking companies in the same category as Big Tobacco and opioid makers — a potential crack in their shield from legal responsibility for what happens on their platforms. While the $6 million in damages a jury in Los Angeles awarded to the 20-year-old plaintiff — which the companies vowed to appeal — will barely register on their balance sheets, the impact of the verdict will likely be more damaging and harder to quantify. The loss, in the first of thousands of product-liability lawsuits against Meta, Google and other social networks, is the kind of black eye that often leads to an increase in government regulations. Unless the verdict is overturned on appeal, the companies may need to change how their products work, a move that could jeopardize the valuable advertising businesses that keep platforms like Instagram and YouTube so profitable. “This is going to be the era of products liability,” said Jess Miers, an assistant professor at the University of Akron School of Law. Miers wasn’t surprised by this week’s verdict and said it could be a turning point for how people access information online. “I think it perfectly reflects the animosity that people are feeling toward tech,” Miers added. People see these tech giants “as not just companies that provide us access to content, whether we like that content or not, but who also have a large role in the way that our democracy is functioning or not functioning, and our sort of broader humanity as well.” For years, social media companies have been shielded from most legal threats thanks to laws that grant them immunity from the potentially inflammatory or damaging content their users post. This week’s verdict changed that calculus. The content on Meta’s Instagram and Google’s YouTube wasn’t the focus of the trial. Instead, plaintiffs attacked ...
Aliaksandr Yarmashchuk Woodside Energy ( WDS ) said Wednesday it assumed operational control of the Beaumont New Ammonia facility in Texas after completing performance testing and handover from OCI Global. The company said the plant has the capacity to produce and export up to 1.1M metric tons/year of ammonia, adding diversity to its portfolio as it expands into new energy products. Woodside (...
Aliaksandr Yarmashchuk Woodside Energy ( WDS ) said Wednesday it assumed operational control of the Beaumont New Ammonia facility in Texas after completing performance testing and handover from OCI Global. The company said the plant has the capacity to produce and export up to 1.1M metric tons/year of ammonia, adding diversity to its portfolio as it expands into new energy products. Woodside ( WDS ) said ammonia production at the plant began in December, but production of lower-carbon ammonia is expected to be delayed until after 2026 due to construction issues at a third-party feedstock supply facility; the company had planned to begin producing lower-carbon ammonia in the U.S. in this year's H2. Woodside ( WDS ) acquired the Beaumont project in September 2024 for US$2.35B; the facility achieved a milestone in December, when it produced traditional, or gray, ammonia for the first time. More on Woodside Energy Woodside Energy: Entering Harvest Mode With Strong LNG Tailwinds Woodside Energy: Upgrading Rating On Disciplined Execution Woodside Energy: International Growth Protects It From Being A Sell Rating Right Now
IPGGutenbergUKLtd/iStock via Getty Images By Jennifer Nash Gas prices have climbed for the tenth consecutive week, marking the longest streak of increases since early 2022 and pushing prices to their highest point since August of that year. As of March 23rd, weekly prices jumped 24 cents for regular and 25 cents for premium. Throughout the month of March, regular gas has surged by a total of $1.02...
IPGGutenbergUKLtd/iStock via Getty Images By Jennifer Nash Gas prices have climbed for the tenth consecutive week, marking the longest streak of increases since early 2022 and pushing prices to their highest point since August of that year. As of March 23rd, weekly prices jumped 24 cents for regular and 25 cents for premium. Throughout the month of March, regular gas has surged by a total of $1.02, while premium is up $1.03. Currently, the national average for regular gasoline stands at $3.96 per gallon, with premium averaging $4.94. These prices represent a significant jump since the start of the year, with regular gas up 41% and premium up 31%. Compared to one year ago, regular gas is 27% more expensive (up from $3.12), while premium has seen a 22.5% increase (up from $4.03). Gas Prices by State According to GasBuddy, regional price disparities have widened significantly, leaving a $2.58 gap between the nation’s highest and lowest averages. California currently holds the highest average for regular gas at $5.81, while Oklahoma offers the cheapest at $3.23. While every state in the nation is now averaging over $3.00 per gallon, a clear geographic divide has emerged. The West Coast remains the most expensive region, with California, Washington, and Hawaii all surpassing the $5.00 mark. Additionally, there are currently nine states across the West and Northeast that fall into the $4.00 to $5.00 range. Conversely, the lowest prices continue to be found across the South and Central Plains, where state averages remain well below the national average. Behind the Price: Components and Inflation To understand these surges, it is helpful to look at the "price at the pump" as a sum of its parts. The retail price of gas is made up of four main components: 1) cost of crude oil, 2) refining costs and profits 3) distribution and marketing costs and profits, and 4) taxes. The volatility in these components, particularly crude oil, has been clearly reflected in recent years in bot...
Liu Zhenmin, China’s climate chief, says he’s had zero interaction with the Trump administration since he returned to office. But China expects dialogue to resume with any next administration. He also says there won’t be an oil or gas crisis in China, as the country is aggressively building more alternatives. He speaks with Bloomberg's Stephen Engle at the Boao Forum. (Source: Bloomberg)
Liu Zhenmin, China’s climate chief, says he’s had zero interaction with the Trump administration since he returned to office. But China expects dialogue to resume with any next administration. He also says there won’t be an oil or gas crisis in China, as the country is aggressively building more alternatives. He speaks with Bloomberg's Stephen Engle at the Boao Forum. (Source: Bloomberg)
One of the coolest laptops we saw at CES in January was the new Dell XPS 16, with a unique 1-120Hz variable refresh rate display that can sip power when you don't need the screen to stay speedy. Just how little power might it consume? Notebookcheck has tested a version of the laptop with that LG Display screen and a new Intel Panther Lake chip - and it appears to be the most efficient laptop that'...
One of the coolest laptops we saw at CES in January was the new Dell XPS 16, with a unique 1-120Hz variable refresh rate display that can sip power when you don't need the screen to stay speedy. Just how little power might it consume? Notebookcheck has tested a version of the laptop with that LG Display screen and a new Intel Panther Lake chip - and it appears to be the most efficient laptop that's ever gone through its Wi-Fi web browsing test. At idle, the Core Ultra 325 laptop drew as little as 1.5 watts, and lasted nearly 27 hours of web browsing despite only housing a 70 watt-hour pack. That's well shy of the 99.5Wh Dell has sometimes … Read the full story at The Verge.
BlackRock Inc. ’s President Rob Kapito said investors may be underestimating the risks stemming from the Iran war, which are likely to weigh on growth and drive inflation higher even if the conflict ends soon. Growth could be hit by as much as two percentage points, while inflation may rise by a similar margin even if the war ends shortly, warned Kapito at the Asia Pacific Financial and Innovation...
BlackRock Inc. ’s President Rob Kapito said investors may be underestimating the risks stemming from the Iran war, which are likely to weigh on growth and drive inflation higher even if the conflict ends soon. Growth could be hit by as much as two percentage points, while inflation may rise by a similar margin even if the war ends shortly, warned Kapito at the Asia Pacific Financial and Innovation Symposium in Melbourne on Thursday. Oil may still spike to $150 a barrel even “if we announce tomorrow the war is over,” as it would take time for disrupted supply chains to return to full capacity. “What if this disruption is a week, six months, a year — what is it going to mean for the companies that I own?” Kapito said. “My biggest concern is that people aren’t looking at this - they’re just making the assumption” for an optimistic outcome. The warning highlights growing concern that markets are too complacent about the economic fallout from the conflict, particularly the potential for prolonged disruptions to energy and shipping that may ripple across global supply chains. In the past, “when there was a conflict like this, you bought short-term Treasuries, you bought gold and you shorted the equity market,” Kapito said, highlighting the uneven market response to the war given stocks have only fallen slightly, while gold and Treasuries are down. Despite the prospect of slower growth and higher inflation linked to the war, Kapito said he remains upbeat over the long term, citing themes such as AI and the rise of private markets as key tailwinds for investors. Read More: Blackstone’s Caplan Sees Low Private Credit Default Levels