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    Meta Fined $840 Million in Europe for Boosting Marketplace Unfairly

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    Meta said it would appeal the decision by the European Union, which said the company had abused its dominance in social networking to strengthen its shopping and classified ads service.​The European Union on Thursday fined Meta roughly $840 million for breaking competition laws with Facebook Marketplace, its shopping and classified ads platform, the latest action by regulators trying to limit the ability of tech giants to expand into new product areas.In issuing the 800 million euro fine, European regulators said Meta had given itself an unfair advantage over rival services by bundling Marketplace into Facebook’s wider social network, providing it with immediate access to millions of potential users. They added that Meta had abused its dominance in online advertising to impose unfair business terms on rival shopping services, allowing it to collect data that could be used to strengthen Marketplace.European regulators, led by Margrethe Vestager, the E.U. competition chief, have for years sought to limit the ability of tech companies to use their power in one area, like social networking, to gain a foothold in new markets such as shopping. Authorities in Europe have also accused Apple of using its dominance in smartphones to bolster music and payment services.In linking Marketplace to Facebook’s social network, the company gave itself “advantages that other online classified ads service providers could not match,” Ms. Vestager said in a statement. “This is illegal under E.U. antitrust rules. Meta must now stop this behavior.”The company said it would appeal the decision, setting up a legal battle that could drag out for years. Meta said Marketplace, introduced in 2016, was created in response to consumer demand and had not hindered competition from companies such as eBay and Vinted.On Marketplace, people buy, sell and trade items with others, including furniture, clothing, sports equipment, cars and home goods.“Facebook users can choose whether or not to engage with Marketplace, and many don’t,” the company said in a statement. “The reality is that people use Facebook Marketplace because they want to, not because they have to.”Meta has been a target of efforts on both sides of the Atlantic Ocean to crimp the power of the largest technology companies. Last year, the company was fined 1.2 billion euros, or about $1.26 billion, for violating regional data protection rules. In the United States, the company is being sued by the Federal Trade Commission for antitrust violations.Whether the United States and Europe will stay aligned on tech regulation with President-elect Donald J. Trump returning to office is an open question. Some of his supporters, including Vice President-elect JD Vance, have raised concerns about the power of Silicon Valley firms like Meta and Google, while others have pushed for less regulation.The European Union started the Marketplace investigation in 2019. In 2023, the company reached a settlement with British regulators on a similar case, but was unable to find an agreement with E.U. authorities. More

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      Bitcoin price hits six-week high after Trump backs cryptocurrency

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      Bitcoin has hit its highest level in more than six weeks after Donald Trump said at the weekend he would end the “persecution” of the crypto industry if he wins the US presidential election.The cryptocurrency’s price rose by more than 3% on Monday to peak at about $69,745, the highest since 12 June when the currency changed hands at more than $69,800.The increase comes after supportive comments from Trump at the Bitcoin 2024 convention in Nashville, Tennessee, where he said on Saturday he would make the US the world’s cryptocurrency leader and embrace a more pro-bitcoin stance than his rival, Kamala Harris.The former president said: “I pledge to the bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’s anti-crypto crusade will be over … If we don’t embrace crypto and bitcoin technology, China will, other countries will. They’ll dominate, and we cannot let China dominate. They are making too much progress as it is.”He also said he would sack the chair of the US financial watchdog the Securities and Exchange Commission (SEC), on the first day of his presidency if he won the election. “On day one, I will fire Gary Gensler,” Trump said, to cheers of approval from the audience.Gensler is a noted sceptic about cryptocurrencies, despite aiding them in January by approving exchange-traded funds (ETFs) – a basket of assets that can be bought and sold like shares on an exchange – that track the price of bitcoin.The SEC chair said in a statement approving the ETFs that bitcoin was a “speculative, volatile” asset used for illegal activities including ransomware and terrorist financing. Since 2023 the SEC has launched more than 40 crypto-related enforcement actions.Speaking at the bitcoin convention, Trump said he would establish a crypto presidential advisory council and create a national “stockpile” of bitcoin using cryptocurrency the US government held that was largely seized in law enforcement actions.skip past newsletter promotionafter newsletter promotion“Never sell your bitcoin,” Trump said. “If I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the bitcoin the US government currently holds or acquires into the future.”The Financial Times also reported on Saturday that Harris’s advisers had approached top crypto companies to try to “reset” the relationship between the Democratic party and the sector. Approaches had been made to the Coinbase crypto exchange, the stablecoin company Circle and the blockchain payments group Ripple Labs, the FT said. More

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      in Elections

      Target Tests an A.I. Tool to Help Its Workers Aid Shoppers

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      The retailer is rolling out a chatbot to help workers answer questions from shoppers — and workers.Target is the latest retailer to put generative artificial intelligence tools in the hands of its workers, with the goal of improving the in-store experience for employees and shoppers.On Thursday, the retailer said it had built a chatbot, called Store Companion, that would appear as an app on a store worker’s hand-held device. The chatbot can provide guidance on tasks like rebooting a cash register or enrolling a customer in the retailer’s loyalty program. The idea is to give workers “confidence to serve our guests,” Brett Craig, Target’s chief information officer, said in an interview.Target is testing the device in 400 stores and plans to make the app available to most workers across its nearly 2,000 locations by August.As the retail industry experiments with generative A.I., some see its potential to eventually make in-store shopping feel more like online shopping, said Roy Singh, the global head of Bain & Co’s advanced analytics practice who works with retailers on generative A.I. initiatives.Retailers have personalized online shopping for customers with things like predictive technology, which suggests items to buy. Shoppers also see e-commerce as more convenient than having to walk in a store and track down workers. The Target app is meant to help workers assist shoppers with their questions faster.Mr. Craig is often asked if these sorts of tools will replace workers, he said. “I believe the relationship between people and technology is so very important,” he said. “We’re here to make sure that they get the right tools to do their work.”Walmart recently expanded access to the A.I. tool it had started using in its corporate offices last summer for use in its retail stores, rolling it out to 13,000 managers of its Sam’s Club stores.While there is significant investment and hype around generative A.I., some retailers have also rolled back experiments with the technology that have failed.“We are still in that growth curve — learning, failing and relearning — and trying to get through adoption at scale,” said Duleep Rodrigo, who leads the U.S. consumer and retail sector for KPMG. More

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      in Elections

      Teamsters Struggle to Unionize Amazon and FedEx Delivery Workers

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      The Teamsters union has made little headway in organizing workers at Amazon and FedEx despite wage and other gains it secured at UPS last year.Last year, two unions representing workers at three large automakers and UPS negotiated new labor contracts that included big raises and other gains. Leaders of the unions — the United Automobile Workers and the Teamsters — hoped the wins would help them organize workers across their industry.The U.A.W. won one vote to unionize a Volkswagen factory in Tennessee last month and lost one this month at two Mercedes-Benz plants in Alabama. The Teamsters have made even less progress at UPS’s big nonunion rivals in the delivery business, Amazon and FedEx.Polling shows that public support for unions is the highest it has been in decades. But labor experts said structural forces would make it hard for labor groups to increase their membership, which is the lowest it has been as a percentage of the total work force in decades. Unions also face stiff opposition from many employers and conservative political leaders.The Teamsters provide an instructive case study. Many of the workers doing deliveries for Amazon and FedEx work for contractors, typically small and medium-size businesses that can be hard to organize. And delivery workers employed directly by FedEx in its Express business are governed by a labor law that requires unions to organize all similar workers at the company nationally at once — a tougher standard than the one that applies to organizing employees at automakers, UPS and other employers.Some labor experts also said the Teamsters had not made as forceful a push as the U.A.W. to organize nonunion workers after securing a new contract with UPS.“You didn’t have that energy that you saw with the U.A.W.’s leaders,” said Jake Rosenfeld, a sociologist who studies labor at Washington University in St. Louis.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in Elections

      E-Commerce and the Influencer Economy

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      How internet shopping became choked with junk. People are bombarded online each day with ads for newfangled products that promise dramatic life improvements. Modish tumblers. Sleek pans. Miraculous cleaning solutions. Overblown air purifiers. Just click this link and — voilà! Productivity. Happiness. Nirvana.Don’t buy it.Wirecutter, The Times’s product recommendation service, tests many of the wares that clog Americans’ social media feeds. And while our testers do like some, these products are often built on empty promises. In today’s newsletter, I’ll explain how e-commerce, a $6 trillion global industry, became choked with junk.Paid to sellOnline shopping can expose people to a greasy influencer economy. Influencers often join affiliate-revenue networks, such as Amazon’s. When an influencer’s follower clicks a link and buys something, the influencer makes money. That’s why people on your social media feed are crowing about their 10 favorite Amazon finds or talking about how an expensive gizmo has changed their life.Many influencers have another incentive: Brands pay them to hawk stuff. Some people with large followings make deals for tens of thousands of dollars per post. Then, when enough people like or share a post, TikTok, Instagram and YouTube algorithms push it to more people. The result is a blizzard of gadgets.Consider these spin scrubbers, pitched online as the solution to all of your cleaning woes. “In videos, these devices churn up rings of soap suds, implying they are lifting away all the filth beneath them,” writes Ellen Airhart, Wirecutter’s cleaning expert.In reality, they’re the worst cleaning tools we’ve ever tested. Ellen spent six hours trying to scour a soap-scum-covered shower and a toothpaste-crusted sink with two spin scrubbers popular on TikTok. They splattered water everywhere and often cost upward of $50. Instead, Ellen recommends a humble $1 sponge.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in Elections

      Teacher Secretly Sold His Students’ Art on Mugs and Shirts, Lawsuit Says

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      Parents of a dozen students at a school near Montreal accused an art teacher in a lawsuit of reproducing portraits from a class assignment and putting them on items that he offered for sale online.In January, students at a junior high school outside Montreal received an assignment to draw a classmate or a self-portrait in the style of Jean-Michel Basquiat.“The challenge is to make an original artwork in Basquiat’s style; not to copy one of his images,” the teacher, Mario Perron, wrote to his students on the junior campus at Westwood High School in St.-Lazare, Quebec. “I am very familiar with Basquiat’s work and will return copied work, because it is considered plagiarism.”The assignment was titled “Creepy Portrait.”Basquiat was a worthy subject: He was the influential Brooklyn-born artist of Haitian and Puerto Rican descent who was known for a brief career in which he innovated with graffiti and other types of improvisational pieces. He died at 27 in 1988.But parents of some students who completed the assignment were shocked to find that Mr. Perron had copied the portraits and was offering mugs, cushions, bags, apparel and other items for sale online bearing reproductions of the artwork, according to a class-action lawsuit filed last week in Quebec Superior Court.Joel DeBellefeuille, who learned what was happening from his 13-year-old son, Jax, accused Mr. Perron in an interview of perpetrating a “premeditated” scheme. A portrait of Jax by one of his classmates was among the student artwork being offered for sale, he said. “I freaked out,” Mr. DeBellefeuille said. “I was full of emotions. Still now, it’s really unbelievable.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in Elections

      Has the Luxury E-Commerce Bubble Burst?

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      After implosions by Farfetch and MatchesFashion — and with other blowouts possible — the future for online fashion retailers looks uncertain.Rosh Mahtani, the founder of the jewelry brand Alighieri, is celebrating the 10th anniversary of her company this year. Her handmade gold-plated pieces, inspired by Dante’s “Divine Comedy,” made her a winner of the Queen Elizabeth II Award for British Design and a mainstay of luxury e-commerce vendors.During Paris Fashion Week last month, buyers came to her showroom to select stock for the upcoming season, including MatchesFashion, a leading multibrand fashion retailer that is responsible for about half a million pounds, or $630,000, of Alighieri’s projected revenues. But there was a problem.“They had owed me 70,000 pounds [about $88,000] in unpaid invoices since October and had been asking for discounts on those bills,” Ms. Mahtani said last week. It made her uneasy, even if such bargaining was increasingly commonplace for independent brands like hers. Still, she said, she wasn’t quaking in her boots.“The team made a selection, and we talked about a capsule collection for the summer,” she said. “I don’t think any of us had a sense of what would come next.”Days later, MatchesFashion was put into administration (the British term for bankruptcy). Its owner, Frasers Group, which bought the company in December for about 52 million pounds, or $66 million, now said the operation was not commercially viable. Overnight, almost half of the staff was fired from a company that had been valued at $1 billion when it was sold to Apax Partners in 2017. Today, 200 brands are owed money and cannot access unsold inventory, and a furious customer base rages online about accessing orders or making returns.Rosh Mahtani, founder of cult jewelry label Alighieri, was owed substantial sums by MatchesFashion when the retailer was put into administration earlier this month.via Alighieri JewelryWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in Elections

      RuPaul Is Sending a Rainbow Bus to Give Away Books Targeted by Bans

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      The star, whose show “RuPaul’s Drag Race” has an international following, is one of the founders of a new online bookstore promoting underrepresented authors. The giveaways are part of its outreach.At a time of book bans and efforts by state legislatures to ban drag shows, the performer and television producer who is arguably the country’s most famous drag star, RuPaul, is the co-founder of a new online bookstore that will be sending a rainbow school bus from the West Coast to the South to distribute the very books targeted by those bans.He announced on Monday that he was one of three business partners behind the bookstore, Allstora, which will promote underrepresented authors and provide writers with a greater share of profits than other online booksellers do.RuPaul said that this sort of book website would fill an important gap, especially in “these strange days, we’re living in,” to support the ideas of people “who are willing to push the conversation forward.”In recent years, there has been a sharp rise in efforts to restrict access to books at libraries in the United States, and most of the challenged books are by or about L.G.B.T.Q. people or people of color, according to library and free speech organizations. Some libraries have received bomb threats, and others have faced closure over efforts to remove books. At the same time, states have tried to ban drag shows and restrict access to health care for transgender people.RuPaul with Eric Cervini, left, co-founder and chief executive of Allstora, and Adam Powell, co-founder and director of the Rainbow Book Bus.AllstoraEnter RuPaul. Drag has been in popular culture for decades, but his reality competition show “RuPaul’s Drag Race,” which is airing its sixteenth season and has more than a dozen international editions, has brought the work of hundreds, if not thousands, of drag performers to home audiences.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      in Elections

      The Sunday Read: ‘The Great Freight-Train Heists of the 21st Century’

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      Adrienne Hurst and Sophia Lanman and Listen and follow The DailyApple Podcasts | SpotifyOf all the dozens of suspected thieves questioned by the detectives of the Train Burglary Task Force at the Los Angeles Police Department during the months they spent investigating the rise in theft from the city’s freight trains, one man stood out. What made him memorable wasn’t his criminality so much as his giddy enthusiasm for trespassing. That man, Victor Llamas, was a self-taught expert of the supply chain, a connoisseur of shipping containers. Even in custody, as the detectives interrogated him numerous times, after multiple arrests, in a windowless room in a police station in spring 2022, a kind of nostalgia would sweep over the man. “He said that was the best feeling he’d ever had, jumping on the train while it was moving,” Joe Chavez, who supervised the task force’s detectives, said. “It was euphoric for him.”Some 20 million containers move through the ports of Los Angeles and Long Beach every year, including about 35 percent of all the imports into the United States from Asia. Once these steel boxes leave the relative security of a ship at port, they are loaded onto trains and trucks — and then things start disappearing. The Los Angeles basin is the country’s undisputed capital of cargo theft, the region with the most reported incidents of stuff stolen from trains and trucks and those interstitial spaces in the supply chain, like rail yards, warehouses, truck stops and parking lots.In the era of e-commerce, freight train robberies are going through a strange revival.There are a lot of ways to listen to ‘The Daily.’ Here’s how.We want to hear from you. Tune in, and tell us what you think. Email us at thedaily@nytimes.com. Follow Michael Barbaro on X: @mikiebarb. And if you’re interested in advertising with The Daily, write to us at thedaily-ads@nytimes.com.Additional production for The Sunday Read was contributed by Isabella Anderson, Anna Diamond, Sarah Diamond, Elena Hecht, Emma Kehlbeck, Tanya Pérez and Krish Seenivasan. More