Meta, the company behind Facebook and Instagram, has reached an agreement to pay $18 billion to settle claims from 29 U.S. states. These claims allege that the company’s platforms have caused harm to children. If approved by the court, the settlement will require Meta to implement new safety measures for teenagers. These measures could include daily usage limits and restrictions on access during nighttime.
In other news, the downfall of Evergrande, a major property developer in China, is causing difficulties for PwC, a leading accounting firm. A judge in Hong Kong has ruled that Evergrande’s liquidators can take legal action against both PwC’s global organization and its branches in China for supposed mistakes in their audit. They are seeking around $8.4 billion in damages.
Additionally, country music legend Dolly Parton has passed away at the age of 80. Over her six-decade career, she sold more than 100 million records and built a business empire that includes music publishing, film, television, and her popular Dollywood theme park.
