Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Alphabet Inc’s Google said on Wednesday that it would contribute EUR 25 million to the newly established European Media and Information Fund in an attempt to combat misinformation.

There was a significant surge in fake news surrounding the COVID-19 pandemic and the US presidential election last year, while the social media faced some major criticism for not being proactive enough in taking measures against the issue.

Launched last week by the Calouste Gulbenkian Foundation and the European University Institute, the European Media and Information Fund has a duration of five years and aims to enlist researchers, fact-checkers, not-for-profits and other public interest-oriented bodies to help combat misinformation.

“While navigating the uncertainty and challenges of the last year, it has proven more important than ever for people to access accurate information, and sort facts from fiction,” Matt Brittin, head of Google’s EMEA Business & Operations, said in a blog post, cited by Reuters.

Alphabet shares closed higher for the fourth time in the past ten trading sessions on NASDAQ on Wednesday. The stock went up 0.64% ($13.09) to $2,068.63, after touching an intraday high at $2,093.00, or a price level not seen since March 17th ($2,109.32).

Shares of Alphabet Inc have risen 18.08% so far in 2021 compared with a 5.77% gain for the benchmark index, S&P 500 (SPX).

In 2020, Alphabet’s stock went up 31.03%, thus, it again outperformed the S&P 500, which registered a 16.26% gain.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: EUR/USD extends daily losses following a drop in German economic sentimentForex Market: EUR/USD extends daily losses following a drop in German economic sentiment The euro extended daily losses against the US dollar on Tuesday, after data showed the business confidence in the largest euro zone economy, Germany, fell for the first time in five months, curbing demand for the 18-nation common […]
  • Forex Market: GBP/JPY daily trading forecastForex Market: GBP/JPY daily trading forecast Yesterday’s trade saw GBP/JPY within the range of 192.22-194.53. The pair closed at 194.32, surging 0.91% on a daily basis, or the most considerable daily gain since July 10th, when it appreciated 2.12%. GBP/JPY lost 0.59% during the week, […]
  • Forex Market: USD/MXN daily trading forecastForex Market: USD/MXN daily trading forecast Yesterday’s trade saw USD/MXN within the range of 13.4080-13.4825. The pair closed at 13.4550, gaining 0.20% on a daily basis.At 7:49 GMT today USD/MXN was down 0.21% for the day to trade at 13.4268. The pair touched a daily low at 13.4161 […]
  • Commodities trading outlook: crude oil and natural gas futuresCommodities trading outlook: crude oil and natural gas futures WTI and Brent futures were headed for weekly losses during midday trade in Europe today, pressured by growing supplies in top-consumer US. Economic outlooks remain positive, but fundamentals weighed on investors sentiment. Elsewhere, Ukraine […]
  • Soft futures mixedSoft futures mixed Coffee futures rebounded after dropping earlier as the harvest in Brazil accelerated amid favorable conditions and weaker local currency gave producers competitive advantage on the markets.On the ICE Futures U.S. Exchange, Arabica coffee […]
  • Gambling companies and their impact on the London Stock ExchangeGambling companies and their impact on the London Stock Exchange The London Stock Exchange has a long and successful history behind it and today is one of the most respected and successful exchanges in the world. In fact, its origins go back as far as the reign of Queen Elizabeth I who opened the so-called […]