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    FIGMA ADOBE DEAL

    US sues Adobe over hard-to-cancel subscriptions

    The Justice Department said in its lawsuit that Adobe hid details of an expensive cancellation fee from consumers "in fine print and behind optional text boxes and hyperlinks." Adobe's website and customer service representatives made canceling additionally challenging, according to allegations in the suit.

    Google's contemplated mega deal would prompt new fight with regulators

    Google was mulling an offer for HubSpot, which has a market value of $34 billion. Google has been weighing the antitrust risks of a potential deal and has yet to decide if it will make an offer. Nearly a dozen antitrust experts and industry analysts said in interviews and analyst notes that it was unlikely that an acquisition by Google would hamper competition.

    Canva strikes biggest acquisition yet in chase to take on Adobe

    The deal, which is a mix of cash and stock, is valued at “several hundred million pounds,” Canva cofounder and chief operating officer Cliff Obrecht said in an interview with Bloomberg on Monday. It’s the biggest outlay yet by Australia’s most valuable startup, priced at $26 billion in its latest share sale.

    Adobe shares plunge 12% as downbeat forecast fans concerns about competition, AI efforts

    The company expects about $440 million in net new annual recurring revenue for the digital media segment, which houses its cloud products for documents and creative applications. Last year, the unit had reported $470 million.

    Adobe drops as weak forecast fans worries about competition, AI efforts

    Like other software firms Microsoft and Alphabet-owned Google, Adobe is being watched closely by Wall Street for its ability to make money from AI features that it has rolled out across its creative suite including Photoshop.

    Adobe forecasts downbeat second-quarter revenue

    Companies and individuals have shifted focus to cutting costs amid high-interest rates and a tough economy, pressuring growth at the Photoshop software maker that has been investing in AI tools to attract more users.

    The Economic Times
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