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Antitrust body probes Walmart's Mexico unit Walmex for monopolistic practices
Economic Times
·
1y ago
Medial
Mexico's antitrust watchdog, Cofece, is investigating Walmart's Mexico unit, Walmex, for potential abuse of dominant power and imposing prices and terms on its suppliers. Walmart is known for demanding lower prices from vendors and has faced similar allegations in the past. The investigation could result in fines up to 8% of the company's annual income. Walmex shares dropped more than 5% following the announcement. The probe focuses on the supply, distribution, and marketing of consumer goods in Mexico.
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Related News
Flipkart pulls Walmart's advertising business and global sales
YourStory
·
2m ago
Medial
Walmart's advertising business surged by 20% in Q1, driven by Flipkart's successful operations. Global net sales increased by 7.8% to $32.1 billion, fueled by growth in China, Flipkart, and Walmex. Despite improvements, the operating income for the international segment decreased due to investments in Flipkart, Walmex, and Canada. Flipkart is expanding its quick commerce with Flipkart Minutes, targeting 800 dark stores by year-end. Morningstar notes potential future growth from Walmart's investments in Flipkart and PhonePe.
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Google makes history with rapid-fire antitrust losses
Economic Times
·
3m ago
Medial
In recent antitrust developments, Google faced historic legal losses, with federal judges ruling it had illegally built monopolies in online search and advertising. These cases mark significant victories for the government, indicating serious scrutiny of tech giants' market power. Google's legal challenges represent a broader wave of antitrust cases against major tech firms like Meta, Apple, and Amazon. While Google plans to appeal, the outcomes may reshape competitive dynamics, reinforcing government's capacity to address monopolistic practices in digital markets.
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Google comes out on top as years-long Mexico antitrust case closed
Economic Times
·
1m ago
Medial
Mexico's antitrust watchdog, Cofece, concluded a multi-year investigation into Google, finding no monopolistic practices and clearing it of potential fines. The probe focused on Google's digital advertising services and whether it held undue advantage over competitors. Cofece's analysis revealed no requirement for users to buy ads on third-party sites for Google search ads. Google appreciated the decision, saying its tools offer advertisers freedom and control. The case closure averts a significant fine.
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A look at how European regulators are cracking down on Big Tech
Economic Times
·
1y ago
Medial
European regulators have taken several actions against Big Tech companies to ensure fair competition and prevent monopolistic practices. These actions include a $2 billion EU antitrust fine imposed on Apple for hindering payment options for music streaming services outside its App Store. Google also faced a 2.42 billion euro EU antitrust fine, and there are discussions about requiring it to divest part of its adtech business. Additionally, Microsoft's investment in OpenAI is being scrutinized for potential violation of EU merger rules. Similar investigations and probes have taken place in the UK, France, Germany, Italy, and the Netherlands.
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ETtech Explainer: Google’s second big antitrust trial in US
Economic Times
·
11m ago
Medial
The US Department of Justice (DoJ) is set to face Google in its second major antitrust trial, focused on the tech giant's monetization strategies for advertising. The DoJ argues that Google's practices are unfairly harming the industry. This trial is part of a broader push by President Biden's administration to regulate Big Tech using antitrust laws. The case follows a recent ruling that found Google had illegally monopolized online search. The trial will center on Google's adtech business, which accounts for the majority of its revenue, and the DoJ's claims that the company has engaged in monopolistic behavior.
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China opens an antitrust investigation into Nvidia
The Verge
·
10d ago
Medial
China has launched an antitrust investigation into Nvidia over claims related to its 2020 acquisition of Mellanox. The investigation alleges Nvidia did not comply with conditions set by China during the acquisition approval, specifically regarding sharing new Mellanox product information. Concurrently, the U.S. Justice Department is also probing Nvidia for potential monopolistic practices. This comes amid geopolitical tensions, with the U.S. imposing sanctions on China’s chipmaking sector and China restricting key mineral exports in retaliation.
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What to know about Donald Trump's antitrust efforts against tech giants
Economic Times
·
3m ago
Medial
The Trump administration initiated significant antitrust efforts against tech giants, such as Meta, Google, Amazon, and Apple, focusing on monopolistic practices. These efforts continued into Biden's tenure, highlighting bipartisan support for increased scrutiny. High-profile lawsuits are ongoing, with accusations ranging from illegal monopolies to anti-competitive mergers. Andrew Ferguson, FTC chair, and Gail Slater, Justice Department, lead these initiatives. Additionally, AI industry regulations are being re-evaluated to balance competition and innovation.
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Technical body of Brazil antitrust regulator recommends ruling against Apple in iOS case - The Economic Times
Economic Times
·
1m ago
Medial
The technical body of Brazil's antitrust regulator, CADE, recommended a decision against Apple for alleged anti-competitive practices within its iOS ecosystem. Triggered by complaints, including from MercadoLibre, the regulator proposes fining Apple and requiring changes to its current practices. Apple expressed concerns that such measures could negatively impact user experience and privacy. The decision now awaits an internal panel's verdict, while Apple intends to continue discussions with CADE.
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Disney makes antitrust problem go away by buying majority stake in Fubo
Arstechnica
·
7m ago
Medial
Disney is acquiring a majority stake in Fubo, merging it with Hulu + Live TV, while settling an antitrust lawsuit Fubo had filed against Disney, Fox, and Warner Bros. Discovery (WBD) over alleged monopolistic practices. The merger, pending regulatory approval, will allow Fubo access to desired sports channels, potentially enhancing consumer options. However, critics argue that Disney's move might exacerbate market concentration, urging authorities to examine its implications on consumer choice and competition.
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Google loses appeal over app store reforms in Epic Games case - The Economic Times
Economic Times
·
10d ago
Medial
In a US appeals case, Google failed to overturn a ruling requiring changes to its Play Store operations due to antitrust claims by Epic Games, which accused Google of monopolistic practices. The 9th US Circuit Court upheld a jury's decision favoring Epic, emphasizing fair competition. Epic argued Google's conduct harmed the Android app market, while Google claimed the trial process was flawed. The decision could affect competition dynamics between Google and rival platforms.
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