Story perspectives

Ofcom Investigates Meta Amid Market Review; Pound Rises

1/23/2026

Summary

Story summary

Ofcom has opened an investigation into Meta Platforms over potentially incomplete information related to WhatsApp in a market review.
Meta Platforms said it would cooperate fully with the investigation.
The British pound rose 0.2% against the dollar, its best week since August.
In South Africa, ArcelorMittal is in advanced talks with the Industrial Development Corporation for a potential transaction.
At Davos, finance leaders discussed the evolving global order and its stability.

History

Historical Context

The UK's Communications Act of 2013 empowered Ofcom to regulate telecommunications and media, reflecting growing concerns over tech giants like Meta Platforms. In December 2020, the FTC initiated an antitrust lawsuit against Meta, alleging monopolistic practices. As global finance leaders convene at Davos, regulatory actions like these may redefine corporate governance and consumer trust in digital communications, especially following the EU's Digital Markets Act implementation in 2023.

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Story summary

Ofcom has opened an investigation into Meta Platforms over potentially incomplete information related to WhatsApp in a market review.
Meta Platforms said it would cooperate fully with the investigation.
The British pound rose 0.2% against the dollar, its best week since August.
In South Africa, ArcelorMittal is in advanced talks with the Industrial Development Corporation for a potential transaction.
At Davos, finance leaders discussed the evolving global order and its stability.

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