Top 5 Stocks About to Test Their 52-Week Low

A 52-week low is a technical indicator used by some of the world's top traders and investors to determine the current and future value of a stock. In this report we reveal today's top 5 stocks about to reach their 52-week lows.

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Facebook and Instagram face European Union scrutiny over possible breaches of digital rulebook

KELVIN CHAN
April 30, 2024

LONDON (AP) -- The European Union said Tuesday that it's scrutinizing Facebook and Instagram over a range of suspected violations of the bloc's digital rulebook, including not doing enough to protect users from foreign disinformation ahead of EU-wide elections.

The EU's Executive Commission said it's opening formal proceedings into whether parent company Meta Platforms breached the Digital Services Act, a sweepting set of regulations designed to protect internet users and clean up social media platforms.

Brussels has been cracking down on tech companies since the DSA took effect last year, opening investigations into social media sites TikTok and X, formerly known as Twitter, and ecommerce platform AliExpress. TikTok last week bowed to EU pressure last week and halted a reward feature on its new app after the Commission started demanding answerse about it.

"We have a well established process for identifying and mitigating risks on our platforms," Meta said in a statement. "We look forward to continuing our cooperation with the European Commission and providing them with further details of this work."

The Commission said it's looking into whether Meta is doing enough to curb the spread of "deceptive advertisements, disinformation campaigns and coordinated inauthentic behaviour" that could pose a risk to "electoral processes" and consumer protection.

Officials said it didn't appear that the company has an effective mechanism for content moderation, including for advertisments made with generative AI, including deepfakes - a shortcoming that they said appears to have been exploited by malicious actors for foreign interference.

The EU also suspects that Facebook and Instagram might be reducing the visibility in recommendation feeds of political content from accounts that pump out a lot of it - a practice known as shadowbanning - and not being transparent about it with users, which would be in violation of the DSA.

A third concern is that Meta is phasing out the use of Crowdtangle, a tool used for real-time election-monitoring used by researchers, journalists and civil society. The Commission is giving Meta five days to respond with information on any "remedial measures" it's taking to make up for its loss.

EU officials are taking measures to safeguard elections as citizens of the bloc's 27 nations prepare to vote for lawmakers in June.

The Commission is also investigating whether Meta's mechanism for users to flag illegal content is good enough under the DSA, because it suspects that method isn't easy to access and user-friendly.

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