📱 How Will Big Tech Respond To THIS...?

Good morning. US stock futures were mixed in Tuesday morning trading as stock market indexes retreated from recent highs.

🖥️ UN lobbies Big Tech to fight online hate

📝 Our report: The head honcho at the United Nations (UN) unveiled global principles to fight online hate and lies, calling on big tech companies to use their powers for good and reduce the damage they’re causing worldwide. The principles call on tech companies, advertisers, media and other key players to refrain from using, supporting or amplifying disinformation and hate speech.

 🔑 Key points:

• UN Secretary-General António Guterres also demanded that advertising and public relations companies “stop monetizing harmful content” and strengthen information integrity.

• Guterres said the principles, laid out at a news conference, are the result of consultations with the 193 U.N. member nations, youth leaders, academia, the media and civil society including tech companies.

• Guterres stressed that big tech companies have “an outsized responsibility.” “You have the power to mitigate harm to people and societies around the world,” he said, “You have the power to change business models that profit from disinformation and hate.”

💡 So what: The UN's launch of global principles to combat online hate and disinformation places significant pressure on big tech companies to enhance their content moderation practices. They may face increased scrutiny and regulatory demands to ensure compliance with these principles. This move could lead to higher operational costs and the need for more robust algorithms and human oversight to filter harmful content effectively. Additionally, tech giants might have to balance these new requirements with concerns over free speech and user privacy, potentially leading to legal and ethical challenges.

Tuesday - Consumer Confidence, S&P Case-Shiller Home Price Index

Wednesday - No Major Economic News

Thursday - GDP (revised)

Friday - Richmond Fed President Tom Barkin Speaks in Paris, Consumer Sentiment (final)

📈 Investing legend Phil Fisher shares 10 investing rules you shouldn’t ignore

💰 Your guide on how to budget as a couple

👨🏽‍💼 Combat impostor syndrome using these 10 steps!

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👖 Retail giant chooses London to go public

WHAT: Online fashion retailer Shein has secretly filed paperwork with UK authorities for a possible London listing, according to sources familiar with the matter. Founded in China and now headquartered in Singapore, Shein looked to list in London after judging it unlikely that the US Securities and Exchange Commission would approve a New York IPO, Bloomberg News reported in February.

WHY: The timing of an initial public offering, which would likely be London’s biggest in more than a decade, wasn’t immediately clear as Shein is still awaiting approval from the Chinese securities regulator. An IPO could value the fast fashion giant at about £50 billion ($63.3 billion), Bloomberg reported this month.

🤖 AT&T CEO: Big tech should contribute to internet access

WHAT: AT&T CEO John Stankey urged Congress to give the FCC the power to make Big Tech chip in for the government fund that subsidizes telecom and broadband access. Under current law, fees are assessed on wireless and landline telephone service subscribers to support the Universal Service Fund.

WHY: "The seven largest and most profitable companies in the world built their franchises on the internet and the infrastructure we provide," Stankey said in remarks at a telecom industry forum in Utah. "Why shouldn’t they participate in ensuring affordable and equitable access to the services of today that are just as indispensable as the phone lines of yesteryear."

🎵 AI song generators sued over copyright infringement

WHAT: Big record companies are suing AI song-generators Suno and Udio for copyright infringement, accusing the startups of exploiting tunes from legends like Chuck Berry to Mariah Carey. The Recording Industry Association of America announced the lawsuit brought by labels including Sony Music Entertainment, Universal Music Group and Warner Records.

WHY: AI has been a heated topic of conversation in the music industry, with debates ranging from the creative possibilities of the new technology to concerns around its legality. In March, Tennessee became the first U.S. state to pass legislation to protect songwriters, performers and other music industry professionals against the potential dangers of artificial intelligence.

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