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the week that was- top weekly news

THE WEEK THAT WAS: the 8 news you need to know

Google and Facebook are facing groups of publishers in Australia, Denmark and France joining forces to make Big Tech pay for using publishers’ content online. In France, a Google agreement to pay just some publishers for content to Google News Showcase was on hold waiting for a statement by the powerful Competition Authority.

President Joe Biden announced US will investigate another ransomware attack after hundreds of businesses in the US and Europe using software from Kaseya were forced to close. Security company Huntress thinks Russia-linked REvil ransomware gang is to blame.

Top telecoms executives called for a total overhaul of Europe’s regulatory framework and unified oversight across the 27-nation bloc, during their first post pandemic Mobile World Congress that was held in Barcelona. Their call includes more regulation over big tech.

A US judge dismissed anti-trust lawsuits by Federal Trade Commission against Facebook that accused the company of protecting its dominance by buying competitors. The markets reacted positively and Facebook was for the first time valued above USD 1 trillion.

Belgian DPG Media and Groupe Rossel agreed to buy RTL Belgium for €250 million. The sale marks part of RTL Group’s European-wide consolidation efforts, which include the merger of its French network M6 with TF1 made to meet American channels aggressive offerings.

Traffic driven by Facebook to other sites has plunged globally since early May, though not all regions are affected, measurement firm Chartbeat said. Traffic in North America fell most. European and Middle Eastern sites saw almost no decline.

Google announced new attempts to get to grips with financial fraud and bluff advertising after calls from financial regulator to take action. All financial services in Britain will need to be verified by the financial regulator before they can place adds on the Google platform.

Competing Israeli content-recommendation advertising companies Taboola and Outbrain are both going to the stock exchange in New York. Earlier plans for a merger of the two companies had failed.

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