ANTITRUST
Democratic wins in state Attorney General races give Donald Trump a new headache
Democrats have achieved significant victories by winning attorney general races in five traditionally Republican-leaning states. This shift may hinder conservative legal strategies and provide resistance to President Donald Trump's policies. Incoming Democratic attorneys general plan to refocus on consumer protection and environmental issues while reviewing previous legal actions by their Republican predecessors.
Crazy economics gets a stop button
After the US midterm elections, stock futures show a positive reaction despite ongoing economic uncertainties. Trump's legislative agenda faces gridlock, impacting his trade and immigration policies significantly. The focus will shift to regulating AI, potentially stalling infrastructure growth in the US economy. India's position in trade negotiations may improve due to Trump's need for success overseas.
Coca-Cola HBC raises 2026 revenue growth forecast on strong demand
Coca-Cola HBC has upgraded its annual organic revenue growth outlook, driven by successful pricing strategies and heightened consumer demand. In the third quarter, the company achieved a notable 9% organic revenue growth, surpassing the anticipated 8%. This surge was propelled by effective promotional initiatives tied to the FIFA World Cup and increased summer demand.
Tesla misled South Korean customers about automated-driving tech, consumer group alleges
Tesla has marketed Full Self-Driving (Supervised) software to prospective buyers in South Korea for years, often collecting lump-sum payments of 9.043 million won ($6,726).
Tesla misled South Korean customers about automated-driving tech, consumer group alleges
Tesla is facing a consumer complaint in South Korea over allegedly misleading customers by selling its Full Self-Driving (FSD) software to buyers whose vehicles cannot legally use it. The software, which was sold for a one-time payment of 9.043 million won ($6,726), is compatible with only about 20% of Tesla cars registered in the country, mainly US-made models.
Sun Pharma Q2 profit takes a hit on exceptional items
Sun Pharmaceutical has seen a notable 36% drop in net profit, juxtaposed with an 11.8% rise in consolidated revenue. The uplift in revenue can be attributed largely to strong sales growth in India and emerging markets, particularly in domestic formulations. Conversely, US formulation sales faced a significant downturn. The company also marked progress in its integration planning for the acquisition of Organon, following the successful completion of regulatory approvals.
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Sun Pharma Q2 profit falls 36% as litigation costs hit earnings
Sun Pharma reported a 36% decline in Q2FY27 net profit to Rs 1,989 crore due to exceptional litigation and acquisition-related costs. Revenue grew 11.8%, supported by strong domestic and emerging market sales, while US formulations weakened.
Sun Pharma Q2 Results: Profit falls 36% YoY to Rs 1,989 crore on exceptional charges
Sun Pharma Q2 Results: Revenue from operations rose 12% YoY to Rs 16,199 crore from Rs 14,478 crore in Q2 of last financial year, supported by strong growth in its domestic formulations business and emerging markets.
Sun Pharma books Rs 346 crore Organon deal costs in Q2; profit falls 36%
Sun Pharmaceutical Industries experienced a significant decline in net profit during the September quarter of FY27. The company incurred acquisition-related costs of Rs 346.16 crore while preparing for the Organon acquisition. Revenue from operations increased by 11.9% compared to the same quarter last year. An important settlement of Rs 922.67 crore was reached concerning a litigation in the US. The transaction with Organon is expected to close in Q4 FY27.
Nvidia's web of AI bets: smart strategy or bubble risk?
Nvidia's $3 billion investment in Meta's share sale, announced Tuesday, is the latest addition to a portfolio of stakes, loans and guarantees that has made the chip giant what some analysts describe as the central bank of the artificial intelligence boom. Nvidia also has around $36 billion in cloud backstops and a guarantee of up to $105 billion linked to an OpenAI data center, according to US media.
US DOJ is inquiring about Nvidia's purchase of Hugging Face
The Justice Department's recent questioning covers Nvidia's acquisitions, investments, sales practices, and whether the chip designer has exerted pressure on its customers, the two people said.
Meta delays indefinitely its rollout of new commercial terms after publishers' concerns
EU and UK antitrust authorities have received complaints about the new terms, which publishers and digital advertisers said would give Meta an unlimited right to use their content for its AI services. Meta has rejected the claims.
McDonald's McRib is back on menu in selected outlets, cities: Check launch date, all about McDonald's iconic sandwich
McDonald's McRib sandwich was first introduced in Kansas City in 1981. Subsequently, in 1982, McDonald's McRib was made available across the United States of America.
Brazil presidential election results: Five economic challenges facing re-elected President Lula
Brazil's economy is encountering significant challenges as President Lula starts his fourth term in January. Soaring public debt and rising mandatory spending limit budget flexibility, complicating fiscal management. High interest rates and persistent inflation hinder economic growth, impacting household and business debt levels. Lula's ability to implement reforms may be constrained by a conservative Congress, complicating his agenda.
India's Scotch probe of Diageo, Pernod undermining India-UK pact benefits, trade group says
The British government said "iconic UK products" like whiskies would benefit from the pact. Indian investigators, however, have privately told companies the reduced rate does not apply to bulk Scotch concentrates, creating the first significant dispute over the free trade agreement since it took effect.
Epic's 'Fortnite' back on Apple App Store in Australia after antitrust ruling
Epic Games said its shooter title "Fortnite" will return to Apple's App Store in Australia on Thursday after a federal court ordered the iPhone maker to open up its iOS operating system, having found it violated competition law.
India probing Pernod, Diageo Scotch imports under India-UK trade pact, sources say
Indian tax officials are investigating Pernod Ricard and Diageo for how they classified bulk Scotch imports. These companies may have improperly benefitted from reduced tariffs under a recent trade agreement. Tax inspectors made surprising visits to both companies' offices to gather information about their practices. The investigations are part of a broader scrutiny faced by foreign investors in India.
Online festive sales fizzle; Snowflake CEO on AI’s impact on software
Happy Monday! Festive ecommerce sales have slowed down this year, we tell you why. This and more in today’s ETtech Morning Dispatch.
Apple names Meta veteran Scott Tucker as litigation chief in legal team shake-up
Apple has hired former Meta litigation chief Scott Tucker as vice president of global litigation and financial services, strengthening its legal leadership amid mounting antitrust, patent and other lawsuits. The appointment is part of a broader reorganisation under General Counsel Jennifer Newstead, as the iPhone maker faces legal setbacks threatening its services business.
Aegis Logistics to acquire 89.8% stake in Dubai-based Tristar Holdings for $809 million
Aegis Logistics is set to acquire 89.8% stake in Tristar Holdings, based in Dubai, for $809 million. The deal seeks to strengthen Aegis's global footprint in liquid logistics and creating new avenues for business growth. The acquisition is expected to complete by the fourth quarter of FY27.
Albertsons demands $8 billion from Kroger after $24.6 billion mega-merger collapses - Here's why the grocery giants are fighting
Albertsons has taken a bold step by suing Kroger for nearly $8 billion following a failed merger attempt. The lawsuit accuses Kroger of failing to uphold its contractual obligations concerning regulatory matters, causing substantial financial losses to investors. With a trial date established for October 19 in Delaware, Kroger is firmly countering these accusations, insisting that Albertsons is not entitled to any damages.
Flash flood sweeps away houses, bridges in Nepal months after deadly disaster
Nepal's Gorkha district experienced a flash flood that swept away several houses and bridges. Nearly 50 people were rescued by authorities, while around 10 individuals remain missing. Residents were urged to evacuate to safer locations as the floodwaters rose unexpectedly. The sudden surge in the Budhi Gandaki River caused damage to hydropower projects and infrastructure. Efforts continue to locate the missing individuals and ensure the safety of stranded tourists.
Pakistan imposes emergency rule in northern province after protests
Pakistan placed a northern province under emergency rule on Sunday, the president's office said, following anti-government demonstrations by supporters of jailed former prime minister Imran Khan and militant violence in the northwest. Thousands of Khan's supporters have been marching in Khyber Pakhtunkhwa province to demand his release and airing anti-government criticism fuelled by harsh economic conditions.
Donald Trump: ‘We’re getting rich because of tariffs,’ vows $5,000 payout again if Republicans win midterms
Donald Trump expressed discontent regarding a Supreme Court ruling that he claims diminished federal revenue significantly. He stated that tariffs are crucial for economic growth and domestic manufacturing investments. Trump linked his trade policies to a $5,000 payout proposal to American citizens if Republicans win midterm elections. He highlighted investment commitments by Korean Zinc and General Motors as validation of his economic strategy.
'Going bankrupt': Iran shopkeepers struggle as war dims demand
At a Tehran bazaar where fragrant herbs and spices whet the appetite, shopkeeper Nasir says locals once bought his nuts by the kilo but soaring prices caused by the US-Iran war have eaten into sales, leaving businesses fighting for survival. Many shoppers, whose purchasing power has weakened since the outbreak of war, are seen leaving the bazaar without buying anything.
DOJ says it's investigating whether White House TV pool's coverage halt violated antitrust law
The U.S. Department of Justice is investigating whether the White House press pool's actions violated antitrust laws. This inquiry was prompted by the pool ceasing coverage over a ban on certain media outlets. The press pool's composition has raised questions about the control over news content and free speech. News organizations like CNN have sued over this access restriction, leading to a resumed coverage.
Italy launches EU-backed probe into Microsoft-owned gaming companies
Italy's probe is aimed at Activision Blizzard, among other companies of the Microsoft group, the antitrust authority said in a statement, without naming the others
How AI triggered a federal lawsuit? McDonald’s sued over AI pricing: What the Big Mac case says about franchisee independence
McDonald’s is facing a federal antitrust lawsuit over its AI-powered pricing tools. Illinois resident Michael Thomas alleges the system uses shared, nonpublic data from thousands of restaurants to influence menu prices at each location. The lawsuit claims the central software uses shared sales data across 14,000 locations to coordinate prices, undercutting franchisee independence. It highlights two nearby Fresno stores charging $5.69 and $6.89 for the exact same Big Mac. McDonald's denies the allegations, stating franchisees retain total control over menu pricing.
Italy regulator probes AI music startup Suno over terms of service
The regulator said the licence granted by users was excessively broad and included a waiver of moral rights that may conflict with Italian copyright law.
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