Gold Climbs Above $4,000 as Middle East Tensions and Fed Outlook Drive Safe-Haven Demand 
Ryanair Warns Summer Airfares May Stay Lower as Quarterly Profit Misses Estimates 
Samsung Eyes Up to $1.14 Billion Investment in AI Startup Mistral 
US Stock Exchanges Face Earnings Test as Trading Boom Meets Crypto Competition 
Nike Shifts China Online Sales Strategy to Boost Brand and Fight Local Rivals 
Rubio Rejects AI ‘Kill Switch’ Claims as U.S. Defends American Technology Abroad 
Nvidia Reveals 9.3% Stake in AI Cloud Firm Nebius Following $2 Billion Investment 
US Dollar Climbs to Weekly High as Middle East Tensions Lift Treasury Yields and Safe-Haven Demand 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
OpenAI Australia Data Center Switches Cooling Strategy After Recycled Water Plan Fails 
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears 
US Stock Futures Rise as AI Optimism Lifts Tech, 3M Jumps on Strong Earnings 
Pakistan Seeks $10 Billion U.S. Exchange Stabilization Fund to Boost Forex Reserves 
Lockheed Martin Unveils Lower-Cost Patriot ACE Interceptor to Meet Rising Air Defense Demand 
Alphabet Q2 Earnings Beat Estimates as AI Spending, Google Cloud Growth Fuel Outlook 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock 
The European Union is reportedly mulling on going after big tech companies, including Google and Facebook, by asking for news content payments. The EU is said to have warned that it may copy Australia for its new media law.
EU’s possible new law on news publishing
The members of the European parliament issued a warning directed at tech firms regarding the EU’s plans to revamp its media policies. The new law may force Google and the others to pay for news just like what the Australian legislation is set to implement.
Moreover, the Financial Times mentioned that the MEPs are working on the European Union’s digital market's legislation and stated that the revisions might match the set binding rules for licensing agreements in news media. For the license, it was said that some of the requirements could include asking tech companies to inform publishers about how the news stories are ranked on their respective platforms.
Maltese MEP, Alex Saliba, stated that Australia’s media bargaining code actually fixed “acute bargaining power imbalances” with news publishers. Thus, the EU is also considering making its own version and implementing it as a policy.
“With their dominant market position in search, social media and advertising, large digital platforms create power imbalances and benefit significantly from news content,” Saliba told FT. “I think it is only fair that they pay back a fair amount.”
Why the digital news publishing laws are being revamped
As per the Daily Mail, the Copyright in the Digital Single Market is being revised to make sure that it will be a well-functioning marketplace for copyright as intended. This is also to protect press publications by lessening the “value gap” between the revenues earned by web platforms and content creators.
With these revisions on internet copyrights that the Australians started last month, Google threatened to pull out from Australia. Facebook also warned that it would remove news content from Australia if the new code is passed.
But then, the Australian officials are unfazed, and they are determined to make tech companies pay for news. And today, it seems that the EU is in agreement with this and may soon publish a similar law to collect payments for news stories.
