EU Probes X For Illegal Content 📱KD ELAN 📈 INSP DV 📉

FlowBank's hand-curated fresh financial news [header_noDither] EU Probes X For Illegal Content Moderation The European Commission is investigating social media platform X (formerly Twitter) for potentially breaching the Digital Services Act (DSA) by reducing its content moderation team and linguistic coverage in the EU. This probe, initiated due to concerns over X’s handling of illegal content and disinformation, especially during the Israel-Hamas conflict, demands X to submit detailed information on its content moderation practices and the use of generative AI by May 17, 2024. The DSA requires strict measures against illegal content to maintain a balance between combating hate speech and preserving freedom of expression, with potential fines up to 6% of global annual revenues for non-compliance. WHAT'S MOVING [Group 1742 (88)] [Start Trading](113/cXx8Z04/VVGfk85nBR55W2kjHXv2yRl0fW8GDvjX5dTrKYN6YWdsz2-ZVTW6N1vHY6lZ3mCW4jcJR837nJGzW64rscY2YYQpxW2Rx-bf105TptVQ2Zt44xsxfkW91KK0k2tTM5WW7NyhQV5HMC_gN67R7wF9vtZ5W7F_1Ht2CW6VZW5m5xKs7LSr44W558txS36ynzCW9jGQC-8cpt4WW44Jb6p7ptDNSW9dyVZG3dtgPCW17fhVS5tk11mW6R2slz1c0dZyW5N64FH81FblCW3myP8q8fvCdmW4f6zB-61zTgjVFg14-2r02RvN7qYjDkn8BwNW77F96D1vZ94gW3bnsV268NnlLf5CSfCn04) [Group 3 (82)-1] Shopify Shopify's stock fell 18% after issuing a cautious revenue growth forecast of high-teens percentage for Q2, despite beating Q1 earnings expectations with $1.86 billion in revenue. [Group 1754 (32)] Peloton Peloton is being eyed for a buyout by private equity firms as it plans to cut operating expenses by $200 million by the end of fiscal 2025 amidst a 13-quarter streak of losses. [Group 1753 (33)-1] Uber Uber reported a wider Q1 net loss of $654 million but saw a 15% increase in revenue to $10.13 billion; it anticipates Q2 gross bookings of $38.75 billion to $40.25 billion and adjusted EBITDA of $1.45 billion to $1.53 billion. WHAT'S COMING UP? GBP: BoE Interest Rate Decision (Apr): Exp. 5.25% v Prev. 5.25% USD: Initial Jobless Claims: Exp. 212K v Prev. 208K USD: 30-Year Bond Auction: Prev. 4.671% IN OTHER NEWS Wall Street On Wednesday, the S&P 500 closed nearly unchanged and the Nasdaq Composite fell by 0.2%, pressured by declining tech stocks like Uber and Shopify following their recent earnings reports. [Group 1769] Europe European markets are set to open higher on Thursday amid a week full of earnings reports. The U.K.'s FTSE 100 is expected to open up by about 0.38%, Germany's DAX by approximately 0.14%, France's CAC by roughly 0.09%, and Italy's FTSE MIB by around 0.17%. 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