Source: Sharecast
Meta and YouTube have been found liable for deliberately designing addictive products that hooked a young user and led to her being harmed, a jury ruled on Wednesday. Jurors found the tech companies to be both negligent and having failed to provide adequate warnings about the potential dangers of their products. The jury awarded the plaintiff in the case damages of $6m, with Meta to pay 70% and YouTube the remainder. It took nearly nine days of deliberations for the Los Angeles jury to reach its verdict. This lawsuit, over social media’s alleged harm to young people, was the first of its kind to go to trial. – Guardian
Hedge fund Millennium has pledged to stay in Dubai in a boost to the city’s hopes of remaining a global financial hub. The hedge fund giant, which was started by Izzy Englander, a billionaire investor, is helping some staff relocate from Dubai to Jersey, but plans to maintain its offices in the Emirati city, according to sources familiar with the matter. – Telegraph
Vladimir Putin is raking in at least $760m (£570m) a day as the war in Iran drives soaring demand for Russian oil. Kremlin sales from oil and gas will double from about $12bn to nearly $24bn this month as Putin profits from an enormous price surge and Donald Trump’s sanctions waivers, according to the Kyiv School of Economics (KSE) Institute. – Telegraph
The founder of NMC Health used the former FTSE 100 company as his “own personal piggy-bank” in a fraud of extraordinary scale, the administrators have claimed at the start of a three-month trial into the group’s collapse. Bavaguthu Raghuram Shetty allegedly received more than 4.1 billion UAE dirhams (£832 million) directly into his personal accounts from NMC, as well as further payments indirectly and through personal assets. – The Times
Former franchisees of Vodafone have met MPs to call for more protections for small businesses before a High Court battle over claims they were mistreated by the telecoms giant as Richard Tice, Reform UK’s deputy leader, condemned the firm’s franchise scheme. Vodafone is defending a claim from 62 former franchise partners who allege breaches of their deal with the London-listed business left them facing ruin. – The Times