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Shein faces scrutiny in Italy over environmental practices and greenwashing allegations
Livemint
·
10m ago
Medial
Italian competition authority is investigating Shein, a fast-fashion retailer, over allegations of misleading consumers about its environmental sustainability claims. The probe focuses on whether Shein engaged in "greenwashing" by exaggerating or misrepresenting its sustainability practices. The authority specifically mentioned Shein's "evoluShein" collection, which may have misled customers into thinking the products were recyclable. Shein has faced criticism for contributing to overconsumption and environmental degradation in the past. The company has pledged to cooperate with the investigation and reiterated its commitment to complying with laws and regulations.
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TikTok, five other Chinese firms hit by EU privacy complaints
Economic Times
·
6m ago
Medial
Austrian advocacy group Noyb filed privacy complaints against TikTok, Shein, Xiaomi, and three other Chinese firms, alleging unlawful EU user data transfers to China. Known for targeting American tech giants, this marks Noyb's first complaint against Chinese companies. Complaints were filed in Greece, the Netherlands, Belgium, Italy, and Austria, seeking suspensions and fines up to 4% of global revenue. China denies government involvement in such data practices, while Xiaomi pledged cooperation with authorities.
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Why Nvidia is Facing Lawsuits from Regulators Across the World
OutlookIndia
·
7m ago
Medial
Nvidia, renowned for its AI chips, faces global regulatory scrutiny, notably from China, over antitrust law violations related to its Mellanox Technologies acquisition. Despite commitments to ensure fair practices, Nvidia's dealings are under investigation in multiple countries, including France, the USA, and the EU, over market dominance and anti-competitive practices. Nvidia's challenges are compounded by geopolitical tensions, with export restrictions and copyright issues further influencing its operations amidst the rising demand for AI technology.
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BluSmart cab services stay suspended in Delhi-NCR, Bengaluru, Mumbai as cofounder under Sebi lens
Economic Times
·
3m ago
Medial
BluSmart cab services in Delhi-NCR, Bengaluru, and Mumbai are suspended due to the co-founder's scrutiny by a market regulator over alleged fund misuse. The sudden halt affects over 8,000 taxis and numerous drivers' livelihoods. Backed by BP Ventures, BluSmart assured customers of refunds within 90 days. The crackdown also involves Gensol Engineering's promoters accused of fund diversion. BluSmart's related party, Gensol, faces allegations of mishandled funds intended for electric vehicle procurement.
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Lalithaa Jewellery IPO: Is the gold rush hiding governance glitches?
Livemint
·
1m ago
Medial
Lalithaa Jewellery is planning a ₹1,700-crore IPO as gold prices reach near-record highs. The company, which has grown significantly since its acquisition in 1999, aims to raise funds for expansion, with over ₹1,000 crore dedicated to opening new stores. Despite its impressive growth, the firm faces scrutiny over its governance practices. The IPO includes a fresh issue of ₹1,200 crore and a ₹500 crore offer for sale by the promoter.
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Delhi HC curbs Gensol, BluSmart from creating third-party rights over 220 EVs leased to SMAS Auto, Shefasteq OPC
Economic Times
·
3m ago
Medial
The Delhi High Court has restrained Gensol Engineering and BluSmart Mobility from transferring third-party rights over 220 electric vehicles (EVs) leased by SMAS Auto Leasing India and Shefasteq OPC, due to failure in lease payments. The court appointed receivers to manage the assets but denied vehicle repossession as requested by lessors. This follows prior court actions and aligns with ongoing scrutiny of Gensol's financial practices, including allegations of fund diversion and governance issues.
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European regulators crack down on Big Tech
Economic Times
·
1y ago
Medial
European regulators have initiated multiple investigations against Big Tech companies, including Apple, Meta Platforms (formerly Facebook), and Google for potential breaches of the European Union's Digital Markets Act. Violations could result in fines up to 10% of the companies' global annual turnover. This comes after the EU identified 22 "gatekeeper" services run by various tech giants that need to comply with the provisions of the DMA. Microsoft, Amazon, and Apple are also facing scrutiny over alleged antitrust practices and their dominance in the market. Furthermore, France, Germany, Italy, and the Netherlands have taken action against these technology companies for various infractions.
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Irish data regulator opens new inquiry into TikTok over data stored in China - The Economic Times
Economic Times
·
29d ago
Medial
Ireland's Data Protection Commission has launched a new investigation into TikTok regarding the storage of European users' data on servers in China. This follows TikTok's previous fine of 530 million euros in May for transferring European data to China. The inquiry focuses on data storage practices by TikTok, which is registered in Ireland as its EU headquarters. Owned by China's ByteDance, TikTok faces scrutiny over its handling of user information.
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Oil Sands Group Scrubs Website Over Canada ‘Greenwashing’ Law
Livemint
·
1y ago
Medial
An industry group representing Canada's oil sands sector, Pathways Alliance, has removed all its online content following the passing of a new law that could penalize companies for making unsubstantiated environmental claims. The law, known as Bill C-59, aims to crack down on "greenwashing" and requires companies to back up environmental performance claims with internationally recognized methodology. Pathways Alliance consists of major Canadian oil sands producers, and the group had been investing in carbon capture and storage systems to reduce emissions. The law has sparked concerns and uncertainties among industry stakeholders.
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Can blockchain help verify ESG claims and prevent greenwashing?
Inshorts
·
2m ago
Medial
As ESG claims face scrutiny for greenwashing, blockchain offers a way to verify them with transparency and trust. From carbon credits to recycled materials and organic sourcing, immutable records can help companies prove their sustainability efforts. While challenges remain, blockchain could become a vital tool for businesses seeking to grow responsibly and credibly.
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Consolidation wave: edtech learning theory of survival of the fittest
Economic Times
·
1y ago
Medial
Several Indian edtech startups have been acquired recently as the industry faces funding challenges and consolidation. Adda247 acquired test prep firm Ekagrata Eduserv, Schoolnet acquired Genius Teacher, Allen Career Institute acquired Doubtnut, and Happiest Minds took over Macmillan Learning India. Smaller companies with unique propositions and specialization in niche categories are being acquired due to favorable valuations. The funding in India's edtech sector has seen a decline over the past year, leading to a need for consolidation. The sector is also facing scrutiny following allegations of corporate governance lapses at Byju's.
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