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EU’s Breton Issues 24-Hour Ultimatum to Meta Over Disinformation Concerns

 |  October 11, 2023

The European Union’s industry chief, Thierry Breton, has issued a strict 24-hour ultimatum to Meta, the parent company of Facebook, Instagram, and WhatsApp, demanding immediate action to combat the spread of disinformation on its platforms following a recent surprise attack by the Palestinian Islamist group, Hamas, on Israel.

In a letter addressed to Meta CEO Mark Zuckerberg, Breton emphasized the importance of adhering to the Digital Services Act (DSA) rules, which mandate very large online platforms to swiftly remove illegal online content from their platforms, reported Reuters.

Breton urged Zuckerberg to ensure that Meta complies diligently with the DSA regulations on terms of service and the necessity of taking timely, objective, and effective actions in response to notices of illegal content within the European Union.

Breton’s letter comes in the wake of concerns about the rapid spread of disinformation and propaganda related to the recent Hamas attack. European authorities are increasingly vigilant regarding such content’s impact on public opinion and the potential to incite violence.

Read more: EU, Meta To Conduct Stress Test On EU Online Content Rules

In parallel, the European Commission has reminded all social media companies of their legal obligations to prevent the dissemination of harmful content associated with Palestinian militant group Hamas. Notably, Hamas is officially designated as a terrorist organization within the European Union.

A spokesperson for the European Commission emphasized, “Content linked to Hamas circulating online is considered terrorist content, which is illegal, and it must be promptly removed in compliance with both the Digital Services Act and the Terrorist Content Online Regulation.”

The European Union’s actions underscore its commitment to combatting disinformation and maintaining strict control over the spread of harmful content, particularly when it involves organizations considered terrorist groups within the EU. Meta now faces a tight deadline to demonstrate its proactive measures in curbing disinformation on its platforms within the specified 24-hour timeframe.

Source: Reuters

Power Industry Shake-Up: Constellation Energy to Buy Calpine in Massive $26.6B Deal Power Industry Shake-Up: Constellation Energy to Buy Calpine in Massive $26.6B Deal

Power Industry Shake-Up: Constellation Energy to Buy Calpine in Massive $26.6B Deal

 |  January 10, 2025

US-based nuclear power giant Constellation Energy has announced a landmark deal to acquire privately-held natural gas and geothermal company Calpine Corp for $16.4 billion in a move that reshapes the American energy landscape. The acquisition, one of the largest in the history of the U.S. power sector, comes at a time of surging electricity demand driven by the rapid expansion of energy-intensive technologies like artificial intelligence and the ongoing electrification of transportation and buildings.

According to Yahoo the agreement will transform Constellation into the largest independent power provider in the United States, with a diverse portfolio spanning nuclear, natural gas, and geothermal energy sources. The deal, which also includes Calpine’s debt, values the transaction at $26.6 billion.

Following the announcement, Constellation’s stock surged by as much as 10% before markets opened, with gains extending to 22% shortly after trading began. The company expects the acquisition to close in the second half of 2025. Once finalized, the merger is projected to add $2 billion in annual free cash flow, further strengthening Constellation’s financial position.

Read more: Federal Competition Office to Scrutinize High Electricity Prices in Germany

The acquisition reflects the growing urgency for reliable and sustainable energy solutions. Per Yahoo, the combined entity will boast nearly 60 gigawatts (GW) of low- and zero-emission capacity, allowing Constellation to solidify its position as a key player in the nation’s clean energy transition. CEO Joe Dominguez emphasized the critical need to meet rising energy demands, saying, “Demand for our products is expected to grow by levels we haven’t seen in a lifetime.”

The transaction significantly expands Constellation’s geographic footprint, particularly in the high-demand markets of Texas and California. With this deal, Constellation’s share of generation capacity in Texas will jump from 11% to 23%, while its presence in California will rise to 10%, up from a negligible amount. Both states rank among the most populous and energy-intensive in the country.

Aneesh Prabhu, an analyst with S&P, described the deal as transformative, noting that the merger will create “the largest coast-to-coast power generator” in the U.S. The acquisition will also boost Constellation’s workforce by 20%, adding approximately 2,750 employees to its ranks and bringing the total headcount to 16,500.

Source: Yahoo