US LAW AGAINST UNFAIR COMPETITION
Why the Digital Competition Bill has started a polarising debate in the tech industry
India’s Digital Competition Bill has turned previous foes in the tech industry into unlikely allies and sparked a polarising debate on market practices. The Committee on Digital Competition Law (CDCL) on February 27, submitted its report to the ministry of corporate affairs (MCA) after working on it for more than a year.
Apple is first company charged under new EU competition law
Apple is facing intense regulatory scrutiny globally, with charges in the EU, legal battles in the US, and regulatory actions in Britain, signaling a turbulent period for the tech giant in various markets.
Apple charged with violating EU's antitrust tech law, may have to pay fine of $38 billion.
Apple has become the first US tech giant to be charged under the European Union’s tough new antitrust tech law. If found guilty, its fine may soar up to $38 billion.
Enforcing law against paper leak mere whitewash: Congress chief Mallikarjun Kharge
Congress president Mallikarjun Kharge criticized the BJP for not taking action against paper leaks and promoting corruption in the education system, referring to the enforcement of the anti-paper leak law as a 'whitewash'.
G7 draft confronts China's 'unfair' business competition
The G7 nations are set to pledge action against Chinese financial institutions that aided Russia in obtaining weaponry for its war in Ukraine, according to a draft summit communique seen by Reuters. The draft, involving leaders from the UK, Canada, France, Italy, Germany, Japan, and the US, also promises sanctions against entities helping Russia evade oil sanctions through fraudulent transportation. The G7 leaders emphasized that entities supporting Russia's defense industry undermine Ukraine's sovereignty and pledged to restrict financial system access for individuals and entities in third countries, including Chinese ones, engaged in such activities.
How to prevent Big Tech dominance, protect privacy and ensure fair competition
The magnitude, scale and speed at which such platforms operate demand ex ante regulation, if the real interests of consumers are to be protected.
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Why is NFL being sued in the US in an anti-trust law petition? Know the inside story
The NLF is facing a class action suit in the US for possible violation of the anti-trust laws involving its broadcasting agreements. The lawsuit claims damages to the tune of $7 billion.
Donald Trump has been convicted. Can he still run for President?
Former President Donald Trump, facing felony convictions, remains a competitive presidential candidate despite upcoming sentencing. Legal questions arise regarding his eligibility and potential ballot restrictions.
Google, Amazon, Apple lobby group opposes India's EU-like antitrust proposal
India is drafting a new competition law to target big digital firms, with a U.S. lobby group urging a rethink to avoid potential business impacts.
CCI chief flags 'opacity of algorithms', potential 'data dominance' concerns in digital markets
Competition Commission of India (CCI) chief Ravneet Kaur highlighted the opacity of algorithms in assessing their impact on competition, emphasizing the need for competition law to evolve in digital markets. The CCI is closely monitoring digital markets to combat anti-competitive practices. Kaur also announced a forthcoming market study on Artificial Intelligence during the 15th annual day event.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
Digit cuts valuation for IPO; Internet firms vs Google in NCLAT
Insurtech startup Digit is eyeing a discounted $3 billion valuation through its proposed public offering. Details on this and more in today’s ETtech Top 5.
More and more Andhra education barons eye political heft
The great, renowned coaching factories of Andhra Pradesh are regularly churning out batch after batch of successful candidates at competitive exams. Side by side, the highly successful owners of these institutions are also aiming for -- and many of them achieving -- grand success in the political arena.
Has Israel followed the law in its war in Gaza? The US is due to render a first-of-its-kind verdict
The Biden administration is set to determine if Israel's actions in Gaza violate international and U.S. laws, amid scrutiny over its military support for Israel. This decision could influence the flow of weapons and aid to Israel. Critics question whether the U.S. will hold Israel accountable for alleged human rights violations, while supporters argue for maintaining strong ties with Israel. The administration's findings could impact future military assistance to Israel and have broader implications for U.S. foreign policy in the region.
Google contends its app store doesn't abuse dominance
Google defended its Google Play Store at the National Company Law Appellate Tribunal, asserting it didn't engage in anti-competitive behavior or misuse its dominance. The counsel for Alphabet Inc argued the store provided users and developers with options and played a vital role without qualifying as a gatekeeper under Indian regulations.
A clean technology trade war shows how empires fall
China produces 84% of the world’s solar modules and 86% of its lithium-ion batteries, as well as 67% of the nacelles that join wind turbines' blades to their towers, and 70% of electrolyzers for manufacturing green hydrogen.
US antitrust case against Google is just the start
Under the Trump administration, the Justice Department and the Federal Trade Commission started investigating Amazon, Apple, Google and Meta, the parent company of Instagram and WhatsApp, for monopolistic behavior. The government has since sued all four companies -- Google twice -- in what it says is an effort to rein in their power and promote more competition.
Google trial wraps up as judge weighs landmark US antitrust claims
US District Judge Amit Mehta in Washington for hours grilled both sides with questions, probing whether competitive platforms such as ByteDance's TikTok and Meta's Facebook and Instagram are competitive substitutes for search advertising dollars.
Google, Apple threatened by same antitrust laws that boosted them
Federal lawyers have even gone as far as to assert Google and Apple may never have created so many popular products or become as powerful as they are now if Microsoft hadn't been reined in a quarter century ago.
India building buffers... rupee should be on a long-term appreciation path against dollar: BofA's Patrick Law
"I am very bullish on India. It's not just about global bond index inclusion. It's about the long-term prospects of the country and the economy, foreign inflows, and investment. India is definitely benefiting from the China-plus-one narrative."
CCI conducting enquiries against some fintech entities: Chairperson Kaur
CCI Chairperson Ravneet Kaur disclosed ongoing investigations into fintech entities to examine their technology leveraging impact on competition, emphasizing the regulator's commitment to ensuring a competitive digital market. With an eye on big tech and various sectors, including film distribution, CCI aims to address market distortions, fostering innovation and economic growth
View: Big tech, don't be a big brother
Google's Play Store billing policies face CCI investigation for potential Competition Act violations, concerning app developers' resources and market dominance. The case underscores the need for fair competition and innovation in the digital marketplace. In February, Google removed more than a dozen popular apps, including Info Edge's Naukri.com and 99acres.com, Matrimony.com's BharatMatrimony, People Interactive's Shaadi.com, online podcast platform Kuku FM, and online dating app TrulyMadly, from its Play Store for not complying with UCBS.
New antitrust law for large tech firms shouldn’t stifle innovation: experts
Zomato, Swiggy, Flipkart and Oyo have opposed the new regulations on digital competition proposed by a government-appointed committee. Indian companies that supported the proposal of ex-ante regulations include Paytm and MakeMyTrip, albeit with caveats.
Decoding the digital competition law; Perfios turns unicorn
India’s consumer internet firms have expressed reservations about the ex-ante framework in the proposed digital competition law. This and more in today’s ETtech Top 5.
ETtech Explainer: What the proposed digital competition law looks to regulate
The Ministry of Corporate Affairs' Committee on Digital Competition Law has advocated for a novel legal framework to govern competition in the digital realm. This proposed law would introduce ex-ante regulations to tackle potential anti-competitive behavior and antitrust concerns, specifically targeting large digital corporations.
Baron Capital raises Swiggy’s valuation to $12.1 billion; new digital competition law
The US-based asset manager has now marked up the fair value of its holding in Bengaluru-based Swiggy for the third consecutive time. The asset manager’s fund held a stake worth $87.2 million in Swiggy’s parent company as of December 31, 2023, up 17% from $74.4 million a quarter earlier.
Penalty for unfair trade practices to be linked to global turnover
The CCI regulations followed a notification issued by the ministry of corporate affairs stipulating March 6 as the date for implementing the relevant provisions of the Competition (Amendment) Act 2023 that deal with the new monetary penalty regime.
US Supreme Court allows a court order to take effect that could cost Apple billions of dollars
Epic tried to offer an alternative way to get its mobile app, attempting to evade the developer fees inside the app store, which collects a commission of 15% to 30% on subscriptions and other digital transactions. Apple ousted Epic from its app store after it tried to get around restrictions that Apple says protect the security and privacy of iPhone users while also helping to recoup some of the investment that powers one of the world's most ubiquitous devices.
For too long India has put up with unfair competition...: EAM Jaishankar
EAM S Jaishankar emphasized India's need to confront unfair competition globally, stating the country should no longer tolerate it in the name of globalization. Speaking at the FICCI AGM, he highlighted India's shift from being considered the "back office" to the "pharmacy, designer, and producer of the world." Jaishankar showcased India's global impact through vaccines, 5G, UPI payments, and technological advancements like Tejas aircraft. Stressing on India's future, he urged readiness for challenges like electric vehicles (EV) and artificial intelligence (AI) in the next 25 years, urging a blend of nationalism and internationalism for continuous progress.
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