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- Robinhood explained why it halted GameStop trading. The company said its deposit requirements related to equities had increased by 10-fold in a week, and it had to block purchases of some stocks to “comfortably” meet security requirements mandated by SEC-registered clearinghouses.
- Huawei execs retweeted fake accounts pushing the firm’s 5G agenda. One executive for Europe, Kevin Liu, shared 60 posts from fake accounts, the New York Times reported.
- The Reddit user behind the GameStop drive is a 34-year-old US man called Keith Gill. Gill, according to the Wall Street Journal, worked in marketing Massachusetts Mutual Life Insurance Co. before his wealth exploded.
- Exclusive: YouTuber Zoella was dropped from UK school materials. A letter obtained by Insider from exam board AQA said parents and teachers had expressed concerns about her more adult-themed content.
- Xiaomi sued US government officials. The lawsuit is over President Donald Trump’s decision to add it to a blacklist that would block American investment.
- Facebook’s most active US groups are plagued with issues such as hate. According to the Wall Street Journal, Facebook has debated for months on how to rein in groups.
- Hyundai execs are wary of Apple. Some execs are wary of becoming a contract manufacturer for the US tech giant, one executive familiar with internal discussions told Reuters.
- 2021 is set to continue a trend of US tech investment into Europe. US VCs ploughed $28 billion into Europe last year, and continue to see the continent as a source of good-value deals.
- Exclusive: Facebook hired its first chief compliance officer. Henry Moniz, who has worked for more than a decade at ViacomCBS and predecessor Viacom, is moving to Facebook next month.
- We listed out Google’s key European lobbyists. Google is under increasing pressure in Europe, where regulators are clamping down on its platform power.