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Antitrust lawsuit dismissal leaps Facebook into exclusive trillion club

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A U.S judge has dismissed two antitrust lawsuits against facebook and the company’s share price has stormed to record highs as a result.

Facebook has now joined the ranks of companies valued at over a trillion dollars.

HANOVER, GERMANY – JUNE 12: The Instagram and Facebook logos are displayed at the 2018 CeBIT technology trade fair on June 12, 2018 in Hanover, Germany. The 2018 CeBIT is running from June 11-15. (Photo by Alexander Koerner/Getty Images)
What happened with the anti-trust lawsuit?

In what’s being described as a significant setback to the US government’s efforts to rein in the major tech companies, the two lawsuits were filed by the Federal Trade Commission and another by a coalition of US states.

The Judge in the federal district court in Washington said the agency’s lawsuit was “legally insufficient”

The Judge added that he found the FTC had “failed to plead enough facts to plausibly establish” that the tech giant has monopoly power over the market

The FTC will have 30 days to file a new complaint.

As of today’s market close in the U.S, the company’s market cap is sitting at $1 trillion dollars according to Yahoo Finance.

It’s the first time in history Facebook has hit this high mark…

Some of the most notable of Facebook’s divisions are the Facebook site itself, along with Messenger, as well as Instagram, WhatsApp, and Oculus.

On the list of US tech companies that have passed the $1 trillion mark, Facebook is the only one founded in the 2000s, making it the newest.

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Business

EU plans to force USB-C chargers for all phones

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EU plans to make USB-C connectors the standard port for all smartphones and tablets, angering Apple

The European Commission rules to force manufacturers to create a universal charging solution for phones and small electronic devices. The European Commission is aiming to have a common charging port for all mobile phones, tablets, cameras, headphones, and handheld videogame consoles.

The ruling has been in the making for a decade, with environmental concerns the main driving force behind the historic move.

Reducing waste

The rule will reduce waste by encouraging consumers to re-use existing chargers when buying a new device. Politicians have been pushing for this uni9versal charging rule for over a decade.

Disposed and unused charging cables generate approximately 11,000 tonnes of waste per year.  Research shows the average person owns around three mobile phone chargers.

A decade ago there were about 30 different types of chargers, now, phones use either USB-C, lightning, and USB micro-B.

Rotten Apple

The move would see all smartphones in the EU sold with the same charger, a motion Apple is not happy about. The tech giant says this move would damage ongoing innovation.

The tech giant is the main manufacturer of smartphones using a custom charging port, as its iPhone series uses an Apple-made “Lightning” connector. Apple argues its Lightning connector is used by one billion active iPhone users.

“We remain concerned that strict regulation mandating just one type of connector stifles innovation rather than encouraging it, which in turn will harm consumers in Europe and around the world,”

Apple spokesperson

The proposed changes would apply to the charging port on the device body and will also standardise charging speeds. It may be a number of years before the proposals come into effect.

It will be thoroughly debated by the European Parliament and national Governments.

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Tech

Facebook CTO resigns as Zuckerburg announces replacement

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Facebook is about to close an important chapter in its history

In some major news, the social network’s chief technology officer, Mike Schroepfer is stepping down from his role after a total 13 years at the company.

He’ll move to a part-time position as Facebook’s first Senior Fellow at some point in 2022.

CEO Mark Zuckerburg has now appointed hardware lead Andrew Bosworth to be the new CTO.

Schroepfer first joined Facebook in 2008 as a vice president of engineering. He took the CTO position in 2013.

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American plane maker to open major factory in Australia

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Major US-based aircraft maker, Boeing is heading for Australia’s sunshine state

The new Boeing manufacturing facility is planned to be built at Toowoomba’s Wellcamp Airport in an Australian first.

The facility would be involved in manufacturing the Loyal Wingman unmanned aircraft for the Royal Australia Air Force.

Queensland Premier Annastacia Palaszczuk stated that the Boeing project would bring more than 300 jobs to the area, and was ‘very welcome’

The Queensland Government also confirmed that the interior of the aircraft manufactured at the new site would be painted maroon and stamped with “Made In Queensland”.

The Loyal Wingman is an unmanned aircraft but works alongside crewed aircraft, with Defence currently examining how it will be deployed once it’s put into use.

The new facility isn’t the first to be opened and operated by Boeing, with the plane maker also operating sites across Australia’s east coast, including in major cities; Melbourne and Sydney.

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