Meta Removes Fact-Checking | Former Swiss Finance Minister Warns of UBS Size | US Supports Elon In OpenAI Lawsuit

Market Update

• US labor market exits 2024 with strong job gains, drop in unemployment rate.

• US consumer inflation expectations soar in January on tariff fears.

• Jobs report fuels Treasury yield surge as markets brace for 5% threshold.

• Strong US job growth raises doubts about further Fed rate cuts.

Meta shelves fact-checking in policy reversal ahead of Trump administration

End of Third-Party Fact-Checking: Meta has decided to end its third-party fact-checking program.

Introduction of Community Notes: The company will replace it with a user-driven model called "Community Notes," similar to Elon Musk's platform X.

Focus on Free Expression: Meta aims to prioritize free expression and reduce censorship by simplifying its content policies.

Political and Social Influences: The decision is influenced by the recent political landscape and a desire to align with conservative values. [Learn more]

Former Swiss finance minister warns about size of enlarged UBS

UBS's Size Post-Takeover: Former Swiss Finance Minister Ueli Maurer warned that UBS, after acquiring Credit Suisse, has become too large for Switzerland's economy.

Risk Reduction Measures: Maurer emphasized the need for measures to reduce the risks associated with the enlarged bank.

Shareholder Responsibility: He stated that shareholders should take responsibility for risk management, rather than taxpayers.

Legislative Actions: Maurer suggested that legislative measures might be necessary to address the risks posed by UBS's size. [Learn more]

US supports Musk argument in OpenAI lawsuit

FTC's Legal Analysis: The U.S. Federal Trade Commission provided legal analysis that could support Elon Musk's claims against OpenAI and Microsoft, without officially taking sides.

Antitrust Allegations: Musk alleges that OpenAI violated antitrust laws by making investors avoid backing rival AI firms and by sharing board members with Microsoft.

Investor Boycott Claims: Musk claims OpenAI facilitated a group investor boycott against its rivals, which the FTC acknowledged as a legally viable claim.

Ongoing Investigations: The FTC is separately investigating AI partnerships, including those between Microsoft and OpenAI, for potential antitrust violations and consumer protection concerns. [Learn more]

Joke of the Day!

What’s the best way to remember your wife’s birthday?

Forget it once.