Meta Platforms said it will stop paying Australian news publishers for content that appears on Facebook, setting up a fresh battle with Canberra which had led the world with a law that forces internet giants to strike licencing deals. News publishers and governments like Australia have argued that Facebook and Google unfairly benefit in terms of advertising revenue when links to news articles appear on their platforms. Meta has been scaling back its promotion of news and political content to drive traffic and says news links are now a fraction of users' feeds.
Meta stock is trading tightly near a high after the earnings gap-up. The AI stock offers investors a chance to buy before its next big move.
Meta Platforms (META) concluded the recent trading session at $490.13, signifying a +1.26% move from its prior day's close.