US REGULATION
US senators call out big tech's new approach to poaching talent, products from smaller AI startups
President Joe Biden's administration and lawmakers from both parties have promoted stricter oversight of the tech industry recently. US antitrust authorities plan to investigate the roles of Microsoft, Nvidia, and OpenAI in the AI boom, with the Department of Justice probing Nvidia and the Federal Trade Commission scrutinising Microsoft and OpenAI partnerships.
European regulators crack down on Big Tech
EU regulators probe Big Tech. Apple addresses DMA breaches, Spotify's complaint. Microsoft leaves OpenAI’s board. Meta's consent model, CrowdTangle features, Facebook, Instagram’s child safety scrutinized. Google fined 2.42 billion euros. Amazon's DSA compliance checked. NVIDIA faces French probe. TikTok, Meta gatekeeper disputes. Italy fines Facebook, Meta. Germany ends Google probe. UK investigates cloud market. Spain suspends Meta products.
US delays H-1B visa system overhaul, F-1 student protection rules
The United States has postponed the next phase of H-1B visa system changes to December 2024. The Department of Homeland Security is preparing to introduce various significant regulations to modernize the program and enhance security measures.
Amazon and other US companies in crosshairs on warehouse safety
The warehouse sector has tripled in employment but doubled injury rates due to productivity targets, injuring workers like Keith Williams. The Warehouse Worker Protection Act seeks regulation. California fined Amazon $6 million for non-disclosure. The U.S. Chamber of Commerce opposes it. Emma Greenman supports state laws. Technology compounds workload while Amazon disputes having quotas and claims equitable management.
Talen asks US regulators to reject challenge to Amazon data center deal
Talen Energy defends its Amazon data center deal against claims by utilities, stating it won't raise power costs or affect grid reliability. The dispute could set a precedent for future data center agreements. FERC's decision pending.
US Supreme Court sidesteps dispute on state laws regulating social media
Legal battles over social media control escalate as court decisions differ. The role of content moderation and free speech rights takes center stage in the ongoing debates and legal challenges.
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US regulators could approve spot ether ETFs for launch by July 4
Ether ETFs are on the brink of approval, with major stock exchanges gearing up for trading. The process, involving top asset managers and regulatory bodies, seems to be approaching its final stages, indicating a significant development in the ETF market.
US probing China Telecom, China Mobile over internet, cloud risks
The Biden administration is investigating China Mobile, China Telecom, and China Unicom over concerns they could misuse access to American data through their U.S. cloud and internet services by sharing it with Beijing. The Commerce Department is leading the probe, which has completed "risk-based analyses" of China Mobile and China Telecom. These companies, despite being barred from providing certain services, still offer cloud and internet routing services in the U.S., posing potential national security risks. The investigation aims to close any remaining avenues for Chinese firms to access U.S. data, amid ongoing tech tensions.
US regulator says TikTok may be violating child privacy law
The US Federal Trade Commission (FTC) announced Tuesday that it had referred a complaint against TikTok to the Justice Department, saying the popular video sharing app may be violating child privacy laws. FTC chair Lina Khan said Tuesday on X that the follow-up investigation had "found reason to believe that TikTok is violating or about to violate" COPPA and other federal laws.
Tax parity for IFSC funds to help HNIs avoid US inheritance levy
Wealthy Indians can use GIFT City to avoid US inheritance tax on offshore investments. IFSCA is seeking tax parity for funds in GIFT City to attract HNI investors.
Alembic Pharma gets USFDA nod for Dabigatran Etexilate capsules
Alembic Pharmaceuticals Ltd received final approval from the US health regulator for generic Dabigatran Etexilate capsules 75 mg and 150 mg to reduce stroke and blood clots in adults with a specific medical condition.
Google loses bid to end US antitrust case over digital advertising
Google had argued for a win without a trial, saying that antitrust laws do not block companies from refusing to deal with rivals and that regulators had not accurately defined the ad tech market.
Glenmark gets USFDA nod to market generic drug
Glenmark Pharmaceuticals announced that it has received USFDA approval to market its generic Esomeprazole Magnesium delayed-release capsules, used to treat excess stomach acid conditions. This generic version of Haleon US Holdings LLC's Nexium is expected to compete in a market where Nexium24 HR 20 mg capsules have annual sales of approximately $259.2 million
Explainer: Why the few big AI players worry US antitrust regulators
U.S. antitrust enforcers are investigating Big Tech's impact on the AI sector, looking into potential competition issues. Key concerns include data access advantages, impact on workers, and partnerships with Big Tech firms.
US election officials split on AI disclosure rules for political ads
FEC officials are divided over whether to require disclosure of AI-generated content in political ads. FCC Chair Rosenworcel supports the proposal, citing concerns about misleading deep fakes. Vice Chair Weintraub agrees, emphasizing the need for transparency. Chair Cooksey opposes, arguing it would cause chaos for campaigns.
US clears way for antitrust inquiries of Nvidia, Microsoft and OpenAI
Federal regulators are proceeding with antitrust investigations into Microsoft, OpenAI, and Nvidia in the AI industry. The Justice Department and FTC are leading the investigations, signaling increased scrutiny into AI technology.
Boeing set to deliver plan to regulators on upgrading safety
A preliminary report by the National Transportation Safety Board published in February found that four bolts securing the panel that blew off were missing. "Boeing must commit to real and profound improvements," FAA Administrator Mike Whitaker said on February 28.
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.
Is it a good idea for laid off H-1B workers to switch to a US tourist visa, and back again?
When laid-off H-1B workers consider transitioning to B-1/B-2 visitor status for job searching, they gain valuable time and a streamlined process back to H-1B, endorsed by USCIS. This strategic move offers a safety net and opportunity for a successful career transition in the U.S.
Novavax awaits FDA decision on whether its next COVID shot can be offered in US
Novavax's updated vaccine targets a variant called JN.1, which is in line with European recommendations. The European Union's regulator told vaccine makers last month to update their vaccines for that variant because they would likely be effective against its descendant lineages.
EU industry chief urges US to pass new tech rules, foster shared digital market
EU's industry chief calls for new tech regulations for global digital market. Leading in tech regulation with DMA and AI Act. U.S. facing antitrust lawsuit against Apple by Department of Justice.
US House passes crypto bill despite warnings from SEC
The House approval comes as the U.S. Securities and Exchange Commission (SEC) signals that it will likely approve applications for spot ether exchange-trade funds in a surprising boost to the industry.
America, sort out the student visa problem
A US visa appointment is, indeed, at premium, as students applying at the US Consulate in Hyderabad found out to their chagrin when 10,000 appointment slots were booked in five minutes. The demand-supply mismatch is unusually high in Hyderabad, a relatively new centre that saw exponential rise in applications in the Oct 2022-Sep 2023 cycle.
Zydus Lifesciences gets USFDA nod for asthma treatment drug
Zydus Lifesciences Ltd receives final USFDA approval to market generic Theophylline extended-release tablets of strengths 300 mg and 450 mg for asthma and COPD treatment. The drug will be manufactured at the group's formulation manufacturing facility in Ahmedabad SEZ, India, with annual sales of USD 12.6 million citing IQVIA MAT March 2024 data.
U.S. regulators reconsider capital hike for big banks, WSJ reports
The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce a nearly 20% mandated increase in capital for the country's biggest banks following lobbying efforts by industry CEOs like JPMorgan Chase's Jamie Dimon, the Wall Street Journal reported on Sunday.
Dr Reddy's, Sun Pharma, Aurobindo recall products in US
The company is also recalling another lot of sapropterin dihydrochloride for the same reason, it added. The USFDA said the drug maker initiated the Class I recall in the US on April 8 this year. As per the US health regulator, a Class I recall pertains to defective products that can cause serious health problems.
New Zealand looking into Indian spice brands over contamination
New Zealand's food safety regulator to investigate potential contamination in spice products from Indian brands MDH and Everest, following scrutiny in the US, Australia, and Hong Kong for high levels of ethylene oxide, a cancer-causing pesticide. The brands maintain product safety, while Indian regulators conduct inspections and testing. MDH now faces additional challenges with a significant rejection rate of shipments due to salmonella.
Shein steps up London IPO preparations amid US hurdles to listing
Shein pivots to a London IPO from New York, facing U.S. regulatory challenges. The online retailer, valued at $66 billion, navigates hurdles with plans for a dual U.S. listing post-London float, monitoring the political climate.
View: Why India struggles to keep its food safe
The Food Safety and Standards Authority of India denounced as “false and malicious” news reports that linked the spice scandal to a recent 10-fold relaxation on maximum permissible limits of pesticide residue. The country has the most stringent norms, the regulator said, even though others clearly seem to think otherwise.
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