EU Grills Apple, Snapchat, YouTube Over Risks to Children

FILE PHOTO: Facebook, TikTok, Twitter, YouTube and Instagram apps are seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Facebook, TikTok, Twitter, YouTube and Instagram apps are seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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EU Grills Apple, Snapchat, YouTube Over Risks to Children

FILE PHOTO: Facebook, TikTok, Twitter, YouTube and Instagram apps are seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Facebook, TikTok, Twitter, YouTube and Instagram apps are seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

The EU Friday demanded digital giants including Snapchat and YouTube explain how they are protecting children from online harm, as member states explore restricting minors' access to social media at a European level.

The European Union has stringent rules regulating the digital space, including what children should be able to see, but there is increasing concern that more needs doing to tackle the issue.

Inspired by Australia's social media ban for under-16s, Brussels is analyzing whether such a measure could work in the 27-country bloc after several states, including France and Spain, pushed for limits on minors' access to platforms, AFP reported.

Europe's biggest weapon for ensuring platforms tackle illegal content and keep children safe online is the Digital Services Act, which has sparked censorship claims from the US tech sector and retaliation threats from President Donald Trump.

Now, as part of "investigative actions" under the DSA, the European Commission has sent a request for information to Snapchat about what steps it is taking to prevent access for children under 13.

The commission has also asked Apple's App Store and the Google Play marketplace to provide details on measures taken to prevent children downloading illegal or harmful apps -- for example, those with gambling services or sexual content.

The EU wants to know in particular how Apple and Google stop children downloading tools to create non-consensual sexualized content -- so-called "nudify apps" -- as well as how they apply apps' age ratings.

"Privacy, security and safety have to be ensured, and this is not always the case, and that's why the commission is tightening the enforcement of our rules," tech chief Henna Virkkunen said before EU ministers met in Denmark.

A request for information can lead to probes and even fines, but does not in itself suggest the law has been broken, nor is it a move towards punishment.

Regarding Snapchat, Brussels wants to know how the messaging app stops users from buying drugs and vapes, a claim echoed by Danish Digital Minister Caroline Stage Olsen on Friday.

It also wants YouTube to provide details on its recommender system, "following reporting of harmful content being disseminated to minors", the commission said.
The demands are not the first under the DSA.

The EU is also probing Meta's Facebook and Instagram, as well as TikTok, over fears they are not doing enough to combat the addictive nature of their platforms for children.

In a parallel push on child protection, EU telecoms ministers will Friday discuss age verification on social media and what steps they can take to make the world online safer for minors.

They are expected to agree on a joint statement backing EU chief Ursula von der Leyen's plans to study a potential bloc-wide digital majority age, according to a draft document seen by AFP.

Von der Leyen has voiced personal support for such a move, and said last month she would establish an experts' panel "to assess what steps make sense" at the EU level.

Denmark, in charge of the rotating six-month EU presidency, has been pushing the bloc to take more collective action through new rules.

Prime Minister Mette Frederiksen said Tuesday Denmark planned to introduce a ban on social media for children under the age of 15.



Nvidia, Bitcoin and Other Superstars on Wall Street Keep Falling

FILE PHOTO: Representation of Bitcoin cryptocurrency is seen in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency is seen in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Nvidia, Bitcoin and Other Superstars on Wall Street Keep Falling

FILE PHOTO: Representation of Bitcoin cryptocurrency is seen in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency is seen in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia, bitcoin and others among Wall Street’s highest flyers are falling more toward Earth on Friday, and the US stock market is heading for a second straight sharp loss.

The S&P 500 sank 1.2%, coming off one of its worst days since its springtime sell-off and a global wipeout for stocks. Critics had been warning that such drops could be possible because of how high stock prices had shot since April, leaving them looking too expensive. They pointed in particular to stocks swept up in the mania around artificial-intelligence technology.

But even with its recent drops, and the S&P 500 on track for a second straight weekly loss, the index that dictates the movements for many 401(k) accounts is still within 3.3% of its record set late last month, Reuters reported.

The Dow Jones Industrial Average dropped 582 points, or 1.2%, and was pulling further from its own all-time high set on Wednesday, while the Nasdaq composite was down 1.5%, as of 9:35 a.m. Eastern time.

AI stocks once again were at the center of the action. Nvidia, which has become the poster child of the AI frenzy, fell 2.2%.

To be sure, it’s still up 36.1% for the year so far. That would count as a stellar year for most any stock, but Nvidia’s price has more than doubled in four of the last five years.

Bitcoin, meanwhile, fell below $96,000 and is back to where it was in May. It had been near $125,000 only in October.

That helped drag down stocks of companies throughout the crypto industry. Strategy, the company that’s built a hoard of bitcoin and used to be known as MicroStrategy, fell 4%. Coinbase Global sank 3.1%, and Robinhood Markets dropped 3.6%.

Outside of tech and crypto, Walmart sank 2.4% after saying its CEO, Doug McMillon, will retire in January in a surprise move. He had helped the nation’s largest retailer embrace technology more.

One way companies can tamp down criticism about too-high stock prices is to deliver solid growth in profits. That’s raising the stakes for Nvidia’s upcoming profit report coming on Wednesday, when it will say how much it earned during the summer.

If it falls short of analysts’ lofty expectations, even more drops could be on the way. That would have a huge effect on the market because Nvidia has grown to become Wall Street’s largest stock by value, briefly topping $5 trillion.

That means Nvidia’s stock movements have a bigger effect on the S&P 500 than any other’s, and it can almost single-handedly steer the index up or down on any given day.

Another way for stock prices broadly to look less expensive is if interest rates fall. That’s because when bonds are paying less in interest, investors are often willing to stomach higher prices for stocks and other kinds of investments.

Treasury yields had been falling for most of this year on expectations that the Federal Reserve would cut its main interest rate several times this year. And the Fed has indeed cut twice already in hopes of shoring up the slowing job market.

But questions are rising now about whether a third cut, which traders had earlier seen as very likely, will actually happen at the Fed’s next meeting in December. The downside of lower interest rates is that they can make inflation worse, and it’s already still above the Fed’s 2% target.

Fed officials have pointed to the US government’s shutdown, which just ended. It delayed the release of many updates on the job market and other signals about the economy. With less information and less certainty about how the economy is doing, some Fed officials have said it may be better to just wait in December to get more clarity.

In the bond market, the yield on the 10-year Treasury ticked down to 4.09% from 4.11% late Thursday.

In stock markets abroad, indexes tumbled across Europe and Asia. South Korea’s Kospi fell 3.8%, and Germany’s DAX lost 1.8% for two of the larger drops.


UNESCO Delegation Visits ICAIRE in Riyadh to Review Global AI Ethics Efforts

The UNESCO delegation also learned about the center's scientific efforts to enhance knowledge exchange with specialized global centers - SPA
The UNESCO delegation also learned about the center's scientific efforts to enhance knowledge exchange with specialized global centers - SPA
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UNESCO Delegation Visits ICAIRE in Riyadh to Review Global AI Ethics Efforts

The UNESCO delegation also learned about the center's scientific efforts to enhance knowledge exchange with specialized global centers - SPA
The UNESCO delegation also learned about the center's scientific efforts to enhance knowledge exchange with specialized global centers - SPA

A UNESCO delegation visited the International Center for AI Research and Ethics (ICAIRE) in Riyadh to review the center's international research and knowledge initiatives focusing on AI ethics, underscoring ICAIRE's role as a global platform leading these ethical efforts under UNESCO's auspices.

Key projects and programs reviewed during the visit included international initiatives supporting the responsible use of AI, research related to safe AI applications, and a capacity-building program aimed at empowering local and global expertise, SPA reported.

The UNESCO delegation also learned about the center's scientific efforts to enhance knowledge exchange with specialized global centers, highlighting ICAIRE's commitment to advancing global ethical standards in AI.


Amazon, Microsoft Back Effort to Curb Nvidia's Exports to China

FILE PHOTO: Nvidia logo is seen on graphic card package in this illustration taken August 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Nvidia logo is seen on graphic card package in this illustration taken August 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Amazon, Microsoft Back Effort to Curb Nvidia's Exports to China

FILE PHOTO: Nvidia logo is seen on graphic card package in this illustration taken August 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Nvidia logo is seen on graphic card package in this illustration taken August 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Amazon is joining Microsoft in backing legislation to further restrict chipmaker Nvidia's ability to export chips to China, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The legislation, known as the GAIN AI Act, is also backed by AI startup Anthropic, the report said.

Short for Guaranteeing Access and Innovation for National Artificial Intelligence (GAIN), the Act was introduced as part of the National Defense Authorization Act and stipulates that AI chipmakers prioritize domestic orders for advanced processors before supplying them to foreign customers.

Microsoft publicly came out in favor of the legislation, while officials at Amazon's cloud unit have privately told Senate staffers that they also support it, the report said.

Meta Platforms and Alphabet's Google have not taken a position on the Act, and neither has US President Donald Trump, the report added.

White House officials, including AI czar David Sacks, told GAIN Act sponsor Senator Jim Banks that the policy's impact is limited as the Commerce Department already regulates chip exports, the report said.

Reuters could not immediately verify the report. Amazon declined to comment, while Microsoft, Anthropic and the White House did not immediately respond to Reuters' requests for comment.

Nvidia, the world's dominant chipmaker, has previously said the GAIN AI Act stands to restrict global competition for advanced chips, limiting computing power available to other countries.

The touted legislation reflects Washington's attempt to prioritize American needs amid fears that China would leverage access to high-end AI capabilities to supercharge its military.