Five major global banks have been found to have violated UK competition law by sharing sensitive information while trading British government bonds in the aftermath of the financial crisis, according to preliminary findings from the UK’s Competition and Markets Authority (CMA). Citigroup, Deutsche Bank, HSBC, Morgan Stanley, and Royal Bank of Canada had traders who […]
Continue Reading
Facebook owner Meta Platforms has been fined a record $1.3 billion by European Union (EU) regulators for violating privacy rules by sending user data to the United States. The fine, the largest ever privacy penalty imposed by the EU, highlights the increasing risks faced by companies that fail to comply with EU privacy regulations. The […]
Continue Reading
Tesco, Sainsbury’s, Asda, Morrisons, and Aldi are the largest supermarkets in the United Kingdom, and their recent financial results have demonstrated the industry’s ability to withstand inflationary pressures on food prices. However, not all supermarkets in the UK are effectively navigating these challenging times. Ocado, an online supermarket that utilizes a highly advanced logistic and […]
Continue Reading
The European Commission has granted approval for Microsoft’s $75 billion acquisition of Activision Blizzard. The approval is contingent upon Microsoft’s full compliance with the commitments offered. According to the EU regulator, these commitments address the competition concerns and present a substantial improvement for cloud gaming compared to the current state. EU’s officials took a different […]
Continue Reading
France’s anti-trust watchdog body said on Thursday that it had approved commitments made by Facebook owner Meta Platforms regarding the French online advertising sector, Reuters reported. Meta has committed to giving access over a five-year period to advertising inventories and campaign data to so-called advertising technology companies on transparent, objective and predictable conditions, the French regulator […]
Continue Reading
A top Democratic lawmaker on antitrust issues said Tuesday a bill aimed at reining in the market power of Big Tech platforms like Amazon.com and Alphabet’s Google had the votes to pass the both chambers of Congress in the next few weeks, Reuters reported. On the sidelines of an event to rally support for measures before the […]
Continue Reading
U.S. chipmaker Qualcomm on Wednesday won its fight against a 997 million euro ($1.05 billion) fine imposed by EU antitrust regulators four years ago, dealing a major setback to EU antitrust chief Margrethe Vestager’s crackdown on Big Tech. The European Commission in its 2018 decision said Qualcomm paid billions of dollars to Apple from 2011 to 2016 […]
Continue Reading
Investors are worried that Intercontinental Exchange Inc.’s $13.1 billion deal to buy mortgage software rival Black Knight Inc. could run into antitrust obstacles at the Justice Department, Bloomberg reported on Friday, May 13. The gap between Black Knight’s stock price and the value of ICE’s cash and stock offer is more than $12 per share, making it one […]
Continue Reading
The Federal Trade Commission finally has the power to move forward with its progressive enforcement and policy agenda after the Senate confirmed President Joe Biden’s nominee to the fifth commissioner seat Wednesday, CNBC reported. The Senate voted to confirm Alvaro Bedoya 51-50, with Vice President Kamala Harris casting the tie-breaking vote. The vote breaks a […]
Continue Reading
The antitrust case against Rogers Communications Inc.’s takeover of a rival is thousands of pages long but comes down to one core idea: the company it’s buying is too good. Analysts don’t see it that way, Bloomberg reported on Wednesday. Toronto-based Rogers is trying to acquire Shaw Communications Inc. for about C$20 billion ($15.4 billion) in what would […]
Continue Reading