Meta on Tuesday was hit by the European Commission — the executive body of the European Union — with a major investigation into its compliance with the EU’s strict internet content rules.

The Commission said it is investigating Meta over concerns the company hasn’t done enough to ensure effective combatting of disinformation ahead of upcoming European Parliament elections.

The European Parliament elections are due to take place on June 6-9.

In the Commission’s statement Tuesday, it said it suspects Meta is incompliant with DSA (Digital Services Act) obligations regarding tackling deceptive advertisements, disinformation campaigns, and coordinated inauthentic behavior in the EU.

The Commission also said Meta may have infringed the DSA by demoting political content in the recommendation systems of Instagram and Facebook, which it said may have violated transparency requirements.

“We have a well-established process for identifying and mitigating risks on our platforms,” a Meta spokesperson told CNBC via email.

“We look forward to continuing our cooperation with the European Commission and providing them with further details of this work.”

The bloc also took issue with the lack of availability of an effective third-party, real-time civil discourse and election-monitoring tool ahead of upcoming elections to the European Parliament, plus other votes in various individual member states.

It said Meta is in the process of depreciating its CrowdTangle tool, which is a public insights tool enabling real-time election monitoring by researchers, journalists, and civil society through visual dashboards.

For its part, Meta maintains that CrowdTangle is an inefficient election monitoring tool as it lacks enough publicly available data. The company is building new tools on its systems to provide access to more comprehensive data from its platforms.

Influential proxy advisory firm ISS recommended on Tuesday that Norfolk Southern shareholders support five of activist Ancora’s seven board nominees, withholding an endorsement from CEO pick Jim Barber but describing him as a “credible director and CEO candidate nonetheless.”

ISS’ endorsement, in a report viewed by CNBC, comes one day after Glass Lewis endorsed most of activist investor’s slate of nominees and days after two unions came out in support of Ancora’s proposed management team.

The proxy advisor recommended shareholders support CEO Alan Shaw’s reelection to the board over Barber, but in a rebuke of NSC’s existing governance, it said shareholders should not support current board chair Amy Miles.

Ancora is seeking to oust both current CEO Shaw and newly appointed COO John Orr. The activist holds Shaw accountable for NSC’s historic underperformance relative to peers, and for a disastrous derailment in East Palestine, Ohio, just a few months into his tenure.

Glass Lewis, the other influential proxy advisory firm, said shareholders should support Barber over Shaw in its recommendation Monday. While neither endorsement suggests giving Ancora full control of the board, both provide the dissident with a clear mandate to implement change.

Investors, especially passive index-fund giants like Vanguard and BlackRock, pay close attention to proxy advisors’ recommendations when deciding how to vote their millions of shares. The top three shareholders at Norfolk Southern control more than 16% of shares outstanding.

ISS said in its report that it was clear “that the dissident has presented a balanced slate consisting of qualified nominees, and has generally targeted the appropriate management nominees.”

ISS recommends shareholders support Ancora nominees William Clyburn, Sameh Fahmy, Gilbert Lamphere, Allison Landry and John Kasich.

The proxy advisor said that Norfolk Southern’s governance problems were “most evident” in the board’s failure to communicate with investors and prioritize their “best interests.”

“As board chair, Amy Miles arguably bears the most responsibility for this state of affairs,” ISS’ report read.

Norfolk Southern has taken steps to address investor concerns, including appointing Orr as COO and adding two new directors, former Sen. Heidi Heitkamp and former Delta CEO Richard Anderson. ISS endorsed Anderson’s election but said shareholders should not support Heitkamp.

“There is no evidence suggesting that Heitkamp is in any way unfit to serve, but dissident nominee John Kasich has comparable regulatory and administrative experience,” the ISS report said, mentioning the latter’s “proven ability” to foster compromise.

WATCH: CNBC’s full interview with NSC CEO Shaw on activist campaign

Microsoft on Tuesday said it will pump $1.7 billion into Indonesia over the next four years to build new cloud and AI infrastructure. The announcement came as CEO Satya Nadella met with Indonesian President Joko Widodo on the same day.

Microsoft said the funds will also go toward training 840,000 Indonesians in AI skills and supporting the local community of developers.

“This new generation of AI is reshaping how people live and work everywhere, including in Indonesia,” Nadella, chairman and CEO of Microsoft, said in a statement.

“The investments we are announcing today – spanning digital infrastructure, skilling, and support for developers – will help Indonesia thrive in this new era,” said Nadella.

Microsoft also said it will partner with governments, organizations and communities to provide AI skilling opportunities for 2.5 million people in Association of Southeast Asian Nations member states by 2025.

Nadella met with Jokowi in Jakarta on Tuesday to discuss topics including technological and AI breakthroughs that will help Indonesia progress, according to Indonesian news agency Antara.

Indonesia wants to become a developed country as set out in its Golden Indonesia 2045 Vision, which aims to make the country into a global economic powerhouse by 2045.

Microsoft’s investment will allow it to capitalize on the increasing demand for cloud computing services in Indonesia, as well as enabling the nation to capture economic and productivity opportunities arising from AI, the tech giant said.

Coordinating Minister for Human Development and Culture Muhadjir Effendy in January said that Indonesia faces huge challenges in leveling up its workforce to compete in a technological and globalized era.

Indonesia has a growing, young and tech-savvy population with Generation Z – those born between 1997 and 2012 – making up nearly 28% of the population, or 75.49 million people. The number of millennials, those born between 1981 and 1996, reached 69.9 million people, or 25.9% of the population.

Microsoft opened its first data center region in Indonesia in 2021 to meet customer needs for data to be stored in the country.