News
EU Fines Meta €797M for Antitrust Violations in Facebook Marketplace Case
The European Union has fined Meta €797.72 million for violating antitrust laws by integrating Facebook Marketplace into its social media platform, giving it an unfair advantage over competitors.
The European Commission accused Meta of abusing its dominant position by automatically granting Facebook users access to Marketplace and imposing unfair trading conditions on rival classified ad providers advertising on Facebook.
“This behavior is illegal under EU antitrust rules. Meta must now stop,” said Margrethe Vestager, the EU’s competition commissioner.
Meta announced plans to appeal the decision, arguing it misrepresents competition in Europe.
“Users choose to engage with Marketplace voluntarily,” Meta stated, dismissing allegations of leveraging competitor ad data for Marketplace’s benefit.
The fine, one of the EU’s largest against Big Tech, reflects the “duration and gravity” of the violations. It comes as the EU intensifies its regulatory scrutiny through measures like the Digital Services Act and Digital Markets Act.
This decision follows earlier actions against Meta, including accusations of forcing users into data-sharing agreements under a “pay or consent” system.
To address regulatory concerns, Meta recently introduced less targeted ads for free users in the EU and reduced prices for its ad-free subscriptions.
Nigerian businessman Isaac Fayose has spoken about what he considers one of the country’s biggest problems, stating that many Nigerians are worried about government taxation, insecurity, and the increasing rate of kidnappings for ransom.
He lamented the situation and criticized the government, arguing that these issues have become deeply rooted and that there appears to be no lasting solution in sight.
According to him “In Nigeria we have two governments. One is collecting tax, the other one is collecting ransom. Both of them have one thing in common which is to make life difficult for their people.
The one that is collecting tax without doing anything will come and share you rice and semolina. The one that is collecting ransom is doing giveaway on social media.”
It was reported that bandits were seen in Kwara State and abducted six residents from Rukpete Village.
The incident was reported to have occurred on June 8 at about 11 p.m.
Sources revealed that seven people were initially taken, but an elderly man was later released, leaving six victims in captivity.
The rising cases of insecurity in the country remain quite alarming.
The state of the country is affecting many people, as they believe nowhere is safe, including schools where they keep their children.
It has been reported that some parents have started withdrawing their children from schools in Abuja.
It can be noted that rumours of bandits being sighted near a school triggered panic, causing parents to hurriedly remove their children for safety.
While the reports of bandits have not been confirmed, the school has also issued safety measures to ensure the protection of students within the premises.
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