Latest news with #DSA
The Hindu
8 hours ago
- Business
- The Hindu
EU probes Musk's xAI buyout of X: Report
Elon Musk's $33 billion xAI acquisition of X has drawn fresh scrutiny from the European Union, as regulators evaluate potential fines under the Digital Services Act, Bloomberg News reported on Thursday. The European Commission recently circulated fresh questions to X, probing the social media platform's corporate structure following its acquisition by xAI, the report said citing people familiar with the matter. Musk said in March the combination valued "xAI at $80 billion and X at $33 billion". Before its summer recess in August, the regulator could announce a fine on X for alleged infractions under the DSA, though delays are possible, according to the report. Representatives for the European Commission, xAI and X did not immediately respond to Reuters requests for comment. Any firm found in breach of the DSA faces a fine worth up to 6% of its global turnover, and repeat offenders may be banned from operating in Europe altogether. Earlier this month, X highlighted a disclaimer to its blue checkmark in an attempt to head off a possible hefty fine from EU antitrust regulators. The Commission issued preliminary findings under the DSA in July last year that X violated rules on deceptive design, especially by turning the blue checkmark into a paid verification, assigning false credibility to users. X had disagreed with the assessment. The EU had announced a probe into X's alleged breaches of the DSA in December 2023.
Time of India
9 hours ago
- Business
- Time of India
EU says it is probing corporate structure of Musk's X months after xAI deal
The European Union said on Thursday it was seeking more information from Elon Musk's X about changes to its corporate structure, months after the social media platform was bought by xAI in a $33 billion deal. "We are following closely changes in the corporate structure of X, as we would changes in any other designated platform," a spokesperson for the European Commission, the EU's executive arm, said. However, the spokesperson did not confirm an earlier report from Bloomberg News that said regulators were evaluating potential fines on X under the Digital Services Act . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Before its summer recess in August, the regulator could announce a fine on X for alleged infractions under the DSA, though delays are possible, Bloomberg reported. Representatives for xAI and X did not immediately respond to Reuters requests for comment. Live Events Any firm found in breach of the DSA faces a fine worth up to 6% of its global turnover, and repeat offenders may be banned from operating in Europe altogether. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Earlier this month, X highlighted a disclaimer to its blue checkmark in an attempt to head off a possible hefty fine from EU antitrust regulators . The Commission issued preliminary findings under the DSA in July last year that X violated rules on deceptive design, especially by turning the blue checkmark into a paid verification, assigning false credibility to users. X had disagreed with the assessment. The EU had announced a probe into X's alleged breaches of the DSA in December 2023.
Indian Express
9 hours ago
- Business
- Indian Express
EU says it is probing corporate structure of Musk's X months after xAI deal
The European Union said on Thursday it was seeking more information from Elon Musk's X about changes to its corporate structure, months after the social media platform was bought by xAI in a $33 billion deal. 'We are following closely changes in the corporate structure of X, as we would changes in any other designated platform,' a spokesperson for the European Commission, the EU's executive arm, said. However, the spokesperson did not confirm an earlier report from Bloomberg News that said regulators were evaluating potential fines on X under the Digital Services Act. Before its summer recess in August, the regulator could announce a fine on X for alleged infractions under the DSA, though delays are possible, Bloomberg reported. Representatives for xAI and X did not immediately respond to Reuters requests for comment. Any firm found in breach of the DSA faces a fine worth up to 6% of its global turnover, and repeat offenders may be banned from operating in Europe altogether. Earlier this month, X highlighted a disclaimer to its blue checkmark in an attempt to head off a possible hefty fine from EU antitrust regulators. The Commission issued preliminary findings under the DSA in July last year that X violated rules on deceptive design, especially by turning the blue checkmark into a paid verification, assigning false credibility to users. X had disagreed with the assessment. The EU had announced a probe into X's alleged breaches of the DSA in December 2023.
The Star
14 hours ago
- Business
- The Star
EU probes Musk's xAI buyout of X, Bloomberg News reports
FILE PHOTO: xAI logo is seen in this illustration taken, February 16, 2025. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Elon Musk's $33 billion xAI acquisition of X has drawn fresh scrutiny from the European Union, as regulators evaluate potential fines under the Digital Services Act, Bloomberg News reported on Thursday. The European Commission recently circulated fresh questions to X, probing the social media platform's corporate structure following its acquisition by xAI, the report said citing people familiar with the matter. Musk said in March the combination valued "xAI at $80 billion and X at $33 billion". Before its summer recess in August, the regulator could announce a fine on X for alleged infractions under the DSA, though delays are possible, according to the report. Representatives for the European Commission, xAI and X did not immediately respond to Reuters requests for comment. Any firm found in breach of the DSA faces a fine worth up to 6% of its global turnover, and repeat offenders may be banned from operating in Europe altogether. Earlier this month, X highlighted a disclaimer to its blue checkmark in an attempt to head off a possible hefty fine from EU antitrust regulators. The Commission issued preliminary findings under the DSA in July last year that X violated rules on deceptive design, especially by turning the blue checkmark into a paid verification, assigning false credibility to users. X had disagreed with the assessment. The EU had announced a probe into X's alleged breaches of the DSA in December 2023. (Reporting by Jaspreet Singh in Bengaluru; editing by Diane Craft)
New York Post
17 hours ago
- Business
- New York Post
EU probes Elon Musk's $33M xAI buyout of X: report
Elon Musk's $33 billion xAI acquisition of X has drawn fresh scrutiny from the European Union, as regulators evaluate potential fines under the Digital Services Act, Bloomberg News reported on Thursday. The European Commission recently circulated fresh questions to X, probing the social media platform's corporate structure following its acquisition by xAI, the report said citing people familiar with the matter. Musk said in March the combination valued 'xAI at $80 billion and X at $33 billion.' Advertisement Elon Musk's xAI is acquiring social media platform X for $33 billion. via REUTERS Before its summer recess in August, the regulator could announce a fine on X for alleged infractions under the DSA, though delays are possible, according to the report. Representatives for the European Commission, xAI and X did not immediately respond to Reuters requests for comment. Advertisement Any firm found in breach of the DSA faces a fine worth up to 6% of its global turnover, and repeat offenders may be banned from operating in Europe altogether. Earlier this month, X highlighted a disclaimer to its blue checkmark in an attempt to head off a possible hefty fine from EU antitrust regulators. The European Union is probing xAI's proposed buyout of X. REUTERS The Commission issued preliminary findings under the DSA in July last year that X violated rules on deceptive design, especially by turning the blue checkmark into a paid verification, assigning false credibility to users. Advertisement X had disagreed with the assessment. The EU had announced a probe into X's alleged breaches of the DSA in December 2023.
