A major US legal battle over Meta’s treatment of children and teenagers begins on Tuesday, with 29 states seeking billions of dollars in damages and sweeping changes to Instagram and Facebook.

The lawsuit, filed in 2023 by states including California and New York, accuses Meta of violating federal and state privacy laws and deliberately designing its platforms to keep young users engaged.

The states are seeking changes to several features, including the removal of “like” counts and infinite scrolling.

They are also demanding that Meta:

• Introduce parental verification for teenage users
• Change recommendation algorithms they say are designed to manipulate young users
• Remove image filters that alter users’ appearance
• End the autoplay of videos
• Prevent young people from creating multiple accounts
• Remove disappearing posts such as Instagram Stories

Prosecutors argue that many of these features encourage children and teenagers to spend more time on the platforms and make it harder for them to disengage.

They also accuse Meta of using frequent notifications and other mechanisms to draw young users back to its services.

Kentucky Attorney General Russell Coleman described the case as “the largest consumer protection lawsuit in American history”.

“We’ll show a jury that Meta concealed what it knew about the harm its products cause young people because looking away was more profitable,” Coleman said.

The states are seeking damages that could amount to billions of dollars. A ruling against Meta could also force fundamental changes to how young people use its social media platforms.

Meta has repeatedly rejected the allegations.

“We strongly disagree with these allegations and are confident the evidence will show our longstanding commitment to supporting young people,” a company spokeswoman said.

The case is being heard by US District Judge Yvonne Gonzalez Rogers, a senior federal judge in California. Rogers previously presided over the high-profile legal dispute between Elon Musk and OpenAI chief executive Sam Altman.

The lawsuit comes as Meta faces increasing scrutiny in the US over the impact of its platforms on children and teenagers. The company, whose market value is about $1.5tn, maintains that it has taken steps to improve protections for younger users.

Tech entrepreneur Elon Musk has become the first person in history to achieve a net worth of more than $1 trillion following the public market debut of SpaceX.

The milestone was reached after SpaceX shares began trading on the stock market in New York at approximately $150 per share. Investor demand quickly pushed the stock higher, with shares climbing to as much as $176 within the first two hours of trading.

Although the stock later retreated from its intraday high, it still finished the session strongly at $160.95 per share. The closing price represented an increase of about 19% above SpaceX’s own estimated debut valuation of $135 per share.

The surge in SpaceX’s market value significantly boosted Musk’s personal fortune, allowing him to cross the trillion-dollar threshold and secure his place as the world’s first trillionaire.

Musk is already one of the most recognizable figures in global business, known for leading SpaceX and electric vehicle manufacturer Tesla. Beyond his business ventures, he has attracted both admiration and criticism for his outspoken presence on social media and his comments on political issues in the United States and abroad.

The billionaire’s influence expanded further following his acquisition of the social media platform X, where he frequently shares views on politics, technology and current affairs.

Despite the strong opening performance, some analysts noted that the stock closed below the most optimistic forecasts. Several early estimates had suggested SpaceX shares could reach as high as $190 on their first day of trading.

According to Samuel Kerr, an analyst at Mergermarket, the initial trading performance was solid but not extraordinary. He said the more important measure of success will be how the stock performs over the coming weeks and months.

Kerr noted that while investors often focus on a company’s first day of trading, the longer-term stability of the share price will provide a clearer indication of market confidence in SpaceX’s future growth prospects.

Ferrari has revealed its first fully electric vehicle, the Luce, marking a major shift for the iconic sports car brand.

The new EV, priced at about $640,000 (£474,320), was unveiled in Rome by Ferrari chief executive Benedetto Vigna, who said the project had taken five years to develop.

Named “Luce” — the Italian word for “light” — the model breaks with traditional Ferrari styling as the company’s first-ever five-seater vehicle.

The car was developed in collaboration with LoveFrom, the creative agency founded by former Apple design chief Jony Ive.

Reaction online has been sharply divided, with some social media users criticising the design while others praised it as a bold and innovative direction for the famous Italian manufacturer.

Ferrari said the Luce uses a Ferrari-built electric motor on each wheel, allowing it to accelerate from 0 to 60mph (96km/h) in around 2.5 seconds.

The company also stressed that all major components are produced in-house, which it says will allow Ferrari to maintain and repair the vehicle long into the future while helping preserve resale values.

The launch comes as several luxury carmakers reconsider their electric vehicle strategies because of weaker-than-expected demand and rising competition from Chinese manufacturers.

Brands including Lamborghini and Porsche have recently scaled back parts of their EV ambitions.

At the same time, automakers such as Ford Motor Company and Volkswagen have increased focus on petrol-powered vehicles, particularly in the United States, following slower EV demand and regulatory changes introduced under Donald Trump.

Ferrari chief design officer Flavio Manzoni acknowledged that the concept of an electric Ferrari with a radically different appearance would be “polarising”.

Speaking in an interview with YouTuber Cleo Abram, Manzoni said criticism was part of innovation and predicted public opinion would shift over time.

Ferrari has also confirmed it will continue producing petrol and hybrid models alongside its new all-electric vehicle lineup.