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Asian Equities Set to Advance; Dollar Opens Lower: Markets Wrap
Asian Equities Set to Advance; Dollar Opens Lower: Markets Wrap
Asian equity futures point to gains across the region when markets open Monday following a rally on Wall
2023-07-31 06:59
Mercedes-Benz threatened with recalls of Euro 6 cars over defeat devices
Mercedes-Benz threatened with recalls of Euro 6 cars over defeat devices
BERLIN Mercedes-Benz could face another wave of recalls after German transport authority KBA deemed inadmissible defeat devices installed
2023-09-15 17:19
Dubai Watchdog Warns on Risks of Crypto’s Global Regulatory Gaps
Dubai Watchdog Warns on Risks of Crypto’s Global Regulatory Gaps
Dubai’s financial regulator warned that global watchdogs need to step up talks with each other to avoid “bad
2023-05-26 12:45
Sigma Lithium, eyeing buyout, sues ex-CEO and daughter-in-law over trade secrets
Sigma Lithium, eyeing buyout, sues ex-CEO and daughter-in-law over trade secrets
By Jonathan Stempel NEW YORK Sigma Lithium, which produces metal used in electric vehicle batteries, has sued a
2023-08-23 00:53
Healthy US consumers shrug off recession concerns, for now
Healthy US consumers shrug off recession concerns, for now
By Nupur Anand NEW YORK U.S. consumers are still keeping up with their loan payments despite rising costs
2023-07-18 23:55
Radian Appoints Sumita Pandit as Chief Financial Officer
Radian Appoints Sumita Pandit as Chief Financial Officer
WAYNE, Pa.--(BUSINESS WIRE)--May 18, 2023--
2023-05-19 05:22
Google goes to court in what could be the biggest tech trial in a generation
Google goes to court in what could be the biggest tech trial in a generation
Google and the US Justice Department are beginning what might be the most decisive tech trial in a generation. The lawsuit could have substantial consequences – not only for the search giant, but for its rivals such as Apple and Meta, and the technology industry more broadly. The antitrust trial will examine claims from critics that Google has unfairly used its power to become dominant in a variety of parts of technology, in particular its search engine. The United States will argue Google didn’t play by the rules in its efforts to dominate online search in a trial seen as a battle for the soul of the Internet. The US Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple, wireless companies like AT&T and browser makers like Mozilla to keep Google‘s search engine atop the leader board. DuckDuckGo has also complained, for example, that removing Google as the default search engine on a device and replacing it with DuckDuckGo takes too many steps, helping keep them to a measly 2.3% market share. DuckDuckGo, Microsoft and Yahoo are among a long list of Google competitors who will be watching the trial closely. “Google makes it unduly difficult to use DuckDuckGo by default. We’re glad this issue is finally going to have its day in court,” said DuckDuckGo spokesman Kamyl Bazbaz who said thatGoogle had a “stranglehold on major distribution points for more than a decade.” Google has denied wrongdoing and is prepared to vigorously defend itself. The legal fight has huge implications for Big Tech, which has been accused of buying or strangling small competitors but has insulated itself against many accusations of breaking antitrust law because the services the companies provide to users are free, as in the case of Alphabet’s Google and Facebook, or low price, as in the case of Amazon.com. “It would be difficult to overstate the importance of this case, particularly for monopolies and companies with significant market share,” antitrust lawyer Luke Hasskamp told Reuters. “This will be a major case, particularly for the major tech companies of the world (Google, Apple, Twitter, and others), which have grown to have an outsized role in nearly all our lives,” he added. Previous antitrust trials of similar importance include Microsoft, filed in 1998, and AT&T, filed in 1974. The AT&T breakup in 1982 is credited with paving the way for the modern cell phone industry while the fight with Microsoft is credited with opening space for Google and others on the internet. Congress tried to rein in Big Tech last year but largely missed. It considered bills to check the market power of the companies, like legislation to prevent them from preferencing their own products, but failed to pass the most aggressive of them. Big Tech’s rivals now pin their hope on Judge Amit Mehta, who was nominated by former President Barack Obama to the U.S. District Court for the District of Columbia. The lawsuit that goes to trial was brought by former President Donald Trump’s Justice Department. In a rare show of bipartisan agreement, President Joe Biden’s Justice Department has pressed on with the lawsuit and filed a second one against Google in January focused on advertising technology. Judge Mehta will decide if Google has broken antitrust law in this first trial, and, if so, what should be done. The government has asked the judge to order Google to stop any illegal activity but also urged “structural relief as needed,” raising the possibility that the tech giant could be ordered broken up. The government’s strongest arguments are those against Google‘s revenue sharing agreements with Android makers, which requires Google to be the only search on the smartphone in exchange for a percentage of search advertising revenue, said Daniel McCuaig, a partner at Cohen Milstein who was formerly with the U.S. Justice Department’s Antitrust Division. Additional reporting by Reuters Read More AI can help generate synthetic viruses and spark pandemics, warns ex-Google executive Google boss says he wants to make people ‘shrug’ How Google reshaped the world – and is about to do it all over again AI is using vast amounts of water Elon Musk says monkeys implanted with Neuralink brain chips were ‘close to death’ Volcano discovery could power electric cars for decades, scientists say
2023-09-12 01:55
Marketmind: China's stock flame fizzling already?
Marketmind: China's stock flame fizzling already?
By Jamie McGeever A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
2023-08-29 06:25
Thai PM Vote Faces Delay Amid Challenge to Pita’s Exclusion
Thai PM Vote Faces Delay Amid Challenge to Pita’s Exclusion
Thailand’s wait for a new prime minister after the May general election may get longer as the nation’s
2023-07-24 17:56
Nutrien CEO not looking to sell assets despite fertilizer price fall
Nutrien CEO not looking to sell assets despite fertilizer price fall
By Rod Nickel WINNIPEG, Manitoba Canadian potash producer Nutrien is not looking to sell assets to raise capital,
2023-08-04 02:51
Coca-Cola eyes more price hikes in emerging markets
Coca-Cola eyes more price hikes in emerging markets
Coca-Cola lifted its full-year earnings targets Wednesday after second-quarter results topped estimates as it described plans to limit additional price hikes to emerging markets...
2023-07-27 02:49
Julius Baer reports 18% H1 net profit rise
Julius Baer reports 18% H1 net profit rise
ZURICH (Reuters) -Swiss private bank Julius Baer reported an 18% increase in net profit for the first half of 2023
2023-07-24 13:57