Tuesday newspaper round-up: Meta, ExxonMobil, Very Group
The Federal Communications Commission on Monday fined the largest US wireless carriers nearly $200m for illegally sharing access to customers’ location information. The FCC is finalizing fines first proposed in February 2020, including $80m for T-Mobile; $12m for Sprint, which T-Mobile has since acquired; $57m for AT&T, and nearly $47m for Verizon. – Guardian
The EU is set to launch formal proceedings against Meta, the owner of Facebook and Instagram, amid concerns it is not doing enough to counter Russian disinformation before the EU elections in June, according to reports. It is also expected to express concerns about the lack of effective monitoring of election content and a potentially inadequate mechanism for flagging illegal content. – Guardian
Oil traders working for US giant ExxonMobil face losing their jobs because they refuse to leave Brussels for London over poor pay. Staff at the multinational are reluctant to relocate to the British capital amid dissatisfaction with “uncompetitive” pay and a “lack of flexibility”, unions have warned. An internal survey showed most said they would turn down the move for these reasons. – Telegraph
The Barclay family are on course to lose control of the last pillar of their corporate empire as their Gulf-based backers plot a sale of Very Group. The Abu Dhabi investment firm that launched an unsuccessful attempt to buy the Barclays’ media assets last year is drawing up plans for an auction of the retailer as it seeks to unwind a £1.2 billion refinancing of the family’s debts. – The Times
A star stockpicker who has been responsible for managing £60 billion of assets has quit Royal London Asset Management to set up his own firm, taking his team with him. Peter Rutter, the firm’s head of equities and the manager of a number of strongly performing authorised funds, has left with immediate effect. – The Times