Market Movers

  • Meta Faces Record $1.3 Billion Fine for EU Data Transfer Violation. European privacy regulators have fined Meta ($META) a record 1.2 billion euro ($1.3 billion) for transferring EU user data to the U.S. The Irish Data Protection Commission has ordered Meta to suspend all future transfers of personal data to the U.S., prompting the company to appeal the decision and the fine.
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  • JPMorgan Chase Raises Revenue Target to $84 Billion After First Republic Takeover. JPMorgan Chase has increased its key revenue target to $84 billion, $3 billion higher than the previous guidance provided in April. The bank's upward adjustment in net interest income outlook by $7 billion resulted in its largest earnings-day stock bump in 20 years, while acknowledging that uncertainties surrounding deposits and the economy could impact the forecast.

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