Amazon Stock Dips as Reports Link Company to Potential $50B OpenAI Investment 
Apple Earnings Beat Expectations as iPhone Sales Surge to Four-Year High 
Climate Adaptation at Home: How Irrigreen Makes Conservation Effortless 
CSPC Pharma and AstraZeneca Forge Multibillion-Dollar Partnership to Develop Long-Acting Peptide Drugs 
Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Philippine Economy Slows in Late 2025, Raising Expectations of Further Rate Cuts 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI 
Boeing Secures New Labor Contract With Former Spirit AeroSystems Employees 
South Korea Industry Minister Heads to Washington Amid U.S. Tariff Hike Concerns 
Meta Stock Surges After Q4 2025 Earnings Beat and Strong Q1 2026 Revenue Outlook Despite Higher Capex 
Toyota Retains Global Auto Sales Crown in 2025 With Record 11.3 Million Vehicles Sold 
Copper Prices Hit Record Highs as Metals Rally Gains Momentum on Geopolitical Tensions 
Trump Threatens Aircraft Tariffs as U.S.-Canada Jet Certification Dispute Escalates 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
Facebook is seeking the dismissal of the lawsuit filed by the U.S. Federal Trade Commission. The social media firm was said to have filed its second motion to dismiss the agency’s illegal monopolization on Monday, Oct. 4.
The government’s revised antitrust suit is forcing Facebook to sell its Instagram, and WhatsApp platforms for alleged monopoly, and Mark Zuckerberg’s company is trying to stop this by asking the judge to drop the case.
According to Reuters, Facebook stated in the court filing for the motion to dismiss that the FTC failed to give a plausible factual basis for labeling FB an “unlawful monopolist.” It added that it seems the agency had no basis for its allegation that the social media platform has or had a monopoly.
“The FTC challenges acquisitions that the agency cleared after its own contemporaneous review,” part of the statement in the motion to dismiss reads. “The case is entirely without legal or factual support and this is as true now as it was before.”
For this, Facebook is requesting the dismissal of the lawsuit, and the FTC declined to comment on the matter. It appears that the request was also based on the U.S. District Court for the District of Columbia Judge James Boasberg’s ruling in June that stated the FTC’s original complaint that was filed in December 2020 failed to provide proof that the company Facebook had monopoly power in the social networking market.
In response to this, the FTC amended its complaint in August this year by adding more details to prove its allegation that Facebook put down or bought its rivals. In its amended filing, the commission once again asked the judge to order the sale of the company’s Instagram and WhatsApp.
Meanwhile, CNBC further mentioned that prior to FTC’s filing of its amended complaint, Facebook submitted a petition for recusal against Lina Khan, the chairman of the FTC. The firm said she is not qualified to perform legal duties due to her past statements against the company.
Facebook stated that based on her statements, she already made up her mind about its liability. FB wants Khan to withdraw from participating in the House Judiciary subcommittee on the antitrust case, but the court denied the request in August.
