Meta Agrees to Pay Trump $25 Million to Settle His Lawsuit
Meta announced that it has reached a remarkable agreement to pay President Trump $25 million to settle a lawsuit he filed in 2021 regarding the suspension of his Facebook and Instagram accounts following the January 6th Capitol riot.
This decision marks a significant concession from one of the leading tech companies and a notable victory for Trump, who has long criticized social media platforms for their censorship of him. Recently, he has been building relationships with influential tech figures, including Elon Musk and Mark Zuckerberg, the CEO of Meta.
Zuckerberg has shown his support for Trump and is reorienting his company to align with the new administration. Earlier this month, he implemented sweeping policy reforms to expand the range of permissible speech across Meta's platforms, which include Facebook, Instagram, Threads, and WhatsApp. Additionally, he has discontinued diversity and inclusion initiatives within the company, generating some controversy among employees.
During a call with investors to discuss Meta's quarterly financial results, Zuckerberg commended the Trump administration for supporting American tech companies and its commitment to "defending our values."
Hang Seng Bank fined HK$66.4 million over misconduct in selling investment products
The Securities and Futures Commission (SFC) issued a "reprimand" to Hang Seng Bank for what it termed "serious regulatory failures" tied to the bank's sale of collective investment schemes and derivative products.
The SFC's disciplinary action followed an investigation by the Hong Kong Monetary Authority (HKMA), which revealed that from June 2016 to November 2017, 111 client accounts executed over 100 transactions in collective investment schemes.
While many trades were presented as the clients' "own choice," the SFC identified that the influence of their relationship managers had swayed 46 individuals. The report indicated that these clients were "solicited into conducting excessively frequent transactions with short holding periods," resulting in significant transaction costs that adversely impacted their overall financial performance.
Ex-senator Bob Menendez sentenced to 11 years in prison for bribery conviction
Former Democratic US Senator Bob Menendez was sentenced to 11 years in federal prison following his 2024 conviction for accepting bribes, which included receiving gold bars in exchange for providing favors to Egypt and New Jersey businessmen. Notably, he became the first former senator to be convicted of acting as a foreign agent last year.
US District Judge Sidney Stein delivered the sentence during the court hearing in New York City. Menendez, a prominent and long-serving figure within the Democratic Party, represented New Jersey in Washington, DC, for nearly 19 years. Last July, he was found guilty on all counts after facing 16 felony charges, including bribery and fraud. Despite his claims of innocence, Menendez felt compelled to resign from the Senate last August.
