CBA Posts Record A$10.98B Profit Despite Cautious Outlook 
Cisco Forecasts Strong Fiscal 2027 Growth as AI Networking Demand Surges 
SpaceX Shares Surge as Wall Street Backs AI Growth Potential 
Airbus Joins Air India A320 Altitude Drop Probe 
US Judge Dismisses Gautam Adani Criminal Charges 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
JPMorgan Plans More Asia-Pacific Hiring in 2027 as Corporate Banking Revenue Surges 
Maersk Raises 2026 Earnings Outlook as Shipping Profits Beat Expectations 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
Anthropic Signs $9.1B AI Data Center Deal With Riot Platforms 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
Austal Shares Surge 16% as Hanwha Offers Up to $1.2 Billion for U.S. Shipbuilding Business 
ANZ Home Loan Applications Drop 12% After Australia Property Tax Changes 
Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
ASX Faces Legal Action Over Failed Blockchain CHESS Project 
Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
Add as a preferred source on Google
Facebook calls on the U.S. government to dissolve the antitrust cases that were filed against it. The tech giant appealed and asked a federal court to dismiss the lawsuits as they were not credible.
Facebook’s reasoning for the petition to dismiss the case
The antitrust lawsuits that Facebook was trying to throw out of the court were filed by the U.S. Federal Trade Commission and almost all the states in the country. In the petition, Mark Zuckerberg’s company stated that the complainants were not able to show that FB harmed the consumers or it had a monopoly in violation of U.S. antitrust laws.
“By a one-vote margin, in the fraught environment of relentless criticism of Facebook for matters entirely unrelated to antitrust concerns, the agency decided to bring a case against Facebook,” the company said in response to the complaint. “None of the harms typically alleged in antitrust actions is alleged here.”
As per Reuters, the antitrust lawsuits were filed by the FTC in December last year. The commission requested the court to force Facebook into selling two of its highly valued platforms - Instagram and WhatsApp.
The alleged basis for the antitrust lawsuit filing
The U.S. FTC and a number of states alleged that Facebook has been violating the antitrust law to fend off smaller competitors and hurt its rivals. A total of five lawsuits have been filed against FB last year and Google was also included in the charge sheet. They have complained about the two’s alleged use and misuse of social media influence in the political and economic arena.
The FTC asserted that Facebook used a "systematic strategy" to get rid of its competitors. One example is by acquiring smaller up-and-coming rivals such as Instagram that was bought in 2012 and WhatsApp in 2014. Still, FB stated that the cases are baseless.
"You only have to look at your phone to know that the government’s assertion that Facebook monopolizes 'personal social networking services' doesn’t make sense," Facebook’s spokesman told FOX Business.
The Facebook lawsuits were initiated by New York Attorney General Letitia James and U.S. District Judge James Boasberg of Columbia will hear the cases. The FTC and the states are given until April 7 to file a response to FB’s request for dismissal.
