Instagram and YouTube's parent companies are facing a landmark trial in California, accused of creating "addiction machines" that harm young people's mental health, while Lloyds Banking Group announced plans to close another 95 branches across the UK. The trial, which began this week, features testimony from Instagram's head, Adam Mosseri, and is expected to last six weeks, testing legal arguments aimed at holding tech firms accountable. Meanwhile, senior Co-op staff have raised concerns about a "toxic culture" at the executive level, and Lloyds continues to reduce its physical presence.
The trial centers on claims that social media platforms like Instagram and YouTube are designed to be addictive, leading to mental health issues in minors. Mark Lanier, representing the plaintiff "K.G.M.," argued that these companies "built machines designed to addict the brains of children, and they did it on purpose," according to BBC Technology. Mosseri, however, defended his platform, stating that what constitutes excessive social media use is a "personal thing," as reported by BBC Business. Lawyers for Meta, the parent company of Instagram, have argued that K.G.M.'s issues stemmed from other factors.
In the banking sector, Lloyds Banking Group revealed plans to close 95 branches between May 2024 and March 2027. This includes 53 Lloyds, 31 Halifax, and 11 Bank of Scotland sites, as stated by BBC Business. The closures are part of an ongoing program, with an additional 49 sites slated to shut down by October. Once completed, Lloyds will have 610 branches remaining. A Lloyds spokesperson noted that the bank offers various options for customers to manage their money.
Adding to the news, senior staff at the Co-op have voiced concerns about a "toxic culture" at the executive level, citing "fear and alienation" among senior managers, according to BBC Business. A letter to Co-op board members complained that staff felt scared to raise concerns about the business's direction. Several sources indicated that this culture has led to poor decisions, declining morale, and a drop in profits.
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