- The figures come a day before the Fed is set to make a decision on whether to raise rates for an 11thstraight meeting
The European Union (EU) took the first formal steps against Elon Musk's X over allegedly breaking rules on how it handled illegal content and disinformation, in the first such probe of a major online platform since the bloc's Digital Services Act came into force this year.
Regulators opened formal infringement proceedings against X, two months after warning the company formerly known as Twitter over how it handled harmful content on its site, the European Commission said in a statement on Monday. Regulators will continue to gather evidence on violations and will be empowered to take enforcement steps, it said.
"X remains committed to complying with the Digital Services Act, and is cooperating with the regulatory process," X spokesperson Joe Benarroch said by email. "It is important that this process remains free of political influence and follows the law."
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