ibt-mailJul 31, 2024, 11:53 AM

Senate Passes First Online Protection Act For Children In A Generation

Newsletter Jul 31, 2024 Quick Six Senate passes social media package for children's safety The US Senate passed a sweeping social media safety package Tuesday that would force tech companies to do

Newsletter Jul 31, 2024

Quick Six

Senate passes social media package for children's safety
The US Senate passed a sweeping social media safety package Tuesday that would force tech companies to do more to protect children -- the first major legislation targeting Silicon Valley in a generation. Social media giants like Meta and X face a torrent of political anger for not putting in guardrails to thwart online dangers for children, including from sexual predators and teen suicide. In a rare sign of political unity during a contentious election season, the Kids Online Safety Act and the Children's Online Privacy Protection Act were passed by overwhelmingly bipartisan votes.
WHAT ARE THE BILLS' ODDS OF PASSAGE IN THE HOUSE?

Meta agrees to pay $1.4B to settle Texas 'tagging' lawsuit
Meta has agreed to pay $1.4 billion to settle a lawsuit accusing it of violating a Texas state privacy law with a feature for "tagging" friends in Facebook photos, according to a deal finalized Tuesday. Meta agreed to pay the money over five years to settle the claims accusing the social networking giant of unlawfully capturing biometric data of Facebook users in Texas. The lawsuit said Meta did not get users' permission before enabling its software to recognize and "tag" people in pictures, according to a court filing.
HOW THE CASE LED TO THE BIOMETRIC IDENTIFIER ACT

Microsoft shares slip after cloud computing misses targets
Microsoft shares slipped Tuesday after the tech giant reported quarterly profit climbed but its crucial cloud computing unit missed expectations. Microsoft said it made a profit of $22 billion on $64.7 billion in revenue in the recently ended quarter, up from the same period a year earlier. Cloud unit revenue of $36.8 billion, however, disappointed investors and shares slid more than 5% to $401.06.
HOW THE AI RACE IS IMPACTING BIG TECH'S BOTTOM LINE

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Markets

DJIA	40,743.33	0.50%
S&P 500	5,436.44	-0.50%
Nasdaq Composite	17,147.42	-1.28%
Japan: Nikkei 225	38,525.95	0.15%
UK: FTSE 100	8,274.41	-0.22%
Crude Oil Futures	75.26	0.71%
Gold Futures	2,454.90	0.12%
Yen	152.66	-0.08%
Euro	1.08	0.01%
* As of market close

Israel strikes Beirut in response to attack

Israel launched a significant strike in Beirut, Lebanon on Tuesday, targeting a senior Hezbollah commander in response to a deadly rocket attack in the Golan Heights. The strike resulted in at least one fatality and several injuries. Israeli Defense Minister Yoav Gallant stated on social media that "Hezbollah crossed the red line," emphasizing the severity of the attack and Israel's need to respond. The Israeli Defense Forces confirmed that the strike in Beirut was aimed at the commander responsible for killing numerous Israeli civilians, including 12 children.

SEE KAMALA HARRIS' COMMENTS ABOUT ISRAELI AIR STRIKE

Musk's superhuman talk called 'dangerous'

Researchers have criticized billionaire Elon Musk for promising that his brain implant technology could eventually provide patients with vision superior to normal human sight. Musk has long promised that his Neuralink company was working on implants that could restore sight to blind people, telling his 190 million followers on X in March that the product would be called "Blindsight". He said the product was already working in monkeys, adding: "Resolution will be low at first, like early Nintendo graphics, but ultimately may exceed normal human vision."

SEE WHY MUSK'S ETHICS ARE BEING CALLED INTO QUESTION

Opening ceremony controversy smolders

The Paris Olympics are well underway but the controversy over the opening ceremony refuses to abate, with conservative political figures worldwide condemning a show that has been staunchly defended by President Emmanuel Macron and its creators. Friday's parade along the River Seine featured celebrations of same-sex love, drag queens and a scene critics have alleged lampooned the Last Supper of Jesus Christ. Macron has said the display made France "extremely proud".

WHY TRUMP CALLED THE OPENING CEREMONY A 'DISGRACE'

Extra point

How many nations participated in the 1924 and 2024 Paris Olympics?

Tuesday's answer: Tasked with making McDonald's a more family friendly experience, Bob Bernstein created the Happy Meal in 1977.

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