ANTITRUST CASE
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.
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.
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.
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.
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.
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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.
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.
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.
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.
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.
Nvidia’s $20 billion Groq deal under fire: Why shareholders are suing
In a striking legal development, two ex-Groq engineers have taken Nvidia to court over alleged mismanagement of their technology and personnel. The lawsuit alleges that crucial investors were sidelined during the $20 billion transaction. Additionally, shareholders are asserting they were inadequately compensated, while select employees enjoyed substantial payouts. Ongoing investigations into potential antitrust issues highlight worries about market consolidation in such deals, emphasizing the necessity for rigorous legal examination.
Google wins dismissal of Chegg, Penske Media lawsuits over AI overviews
In his ruling on Wednesday, US District Judge Amit Mehta in Washington said Chegg and Penske's claims that Google's business practices violate antitrust law "fail to get out of the starting gate."
Inside McDonald's push to have AI price your Big Mac
McDonald's has implemented artificial intelligence to optimize pricing strategies across its restaurants and franchises. This pricing model analyzes customer willingness to pay, creating variations in prices for identical menu items. Franchisees report pressure to adopt these AI-driven pricing recommendations despite the company's claims of their independence. Concerns regarding antitrust implications are raised as franchises may be seen as competitors.
College sports gets its Congress moment: Inside the Senate-passed Protect College Sports Act
The Protect College Sports Act was passed by the US Senate, setting federal rules for college athletics. This legislation governs how athletes can earn money, transfer schools, and receive revenue. The bill now moves to the House of Representatives for consideration and potential amendments. Supporters argue that federal law is necessary to stabilize college sports and prevent further litigation.
Amazon to bet $3 billion on India's fast-delivery boom, sources say
Amazon has announced plans to invest $3 billion in its quick commerce business in India by 2030. This investment aims to expand its network of small neighborhood warehouses to improve delivery efficiency. Amazon is focusing on daily essentials rather than one-off purchases in this sector. Current competitors have established loyalty among customers, making competition more challenging for Amazon.
OpenAI says SEC disclosures undermine xAI's antitrust lawsuit
ChatGPT maker OpenAI asked a Texas federal judge to throw out an antitrust lawsuit brought by Elon Musk's AI startup xAI before trial, arguing that
Spinny books IPO ride; UPI subsidies may end
Spinny has confidentially filed for its initial public offering. This and more in today’s ETtech Top 5.
Global Market: Warner Bros, Paramount shares jump on merger settlement talks
Shares of Warner Bros Discovery and Paramount Skydance jumped after reports that Paramount and California’s attorney general were in advanced settlement talks that could clear a key hurdle to their proposed merger. If sustained, the gains would add a combined $5.59 billion to the companies’ market valuations.
Anthropic, OpenAI, SpaceXAI, Google face federal antitrust lawsuit over calls to slowdown AI development
According to a news report by Politico, the complaint filed in the Northern District Court of California, claims that public statements made earlier this month amounted to an illegal business agreement between competitors under US antitrust law. The matter began with Anthropic Chief Executive Officer Dario Amodei issuing a public plea for "industry-wide coordination" to "pace the frontier" of artificial intelligence advancement.
AI rivals found rare agreement on safety. Putting it into practice is harder
But obstacles including domestic and global competition, profit motivations and pushback from President Donald Trump all stand in the way of a coordinated effort to pace AI's development.
Indian consumer regulator escalates probe into Apple's software warranty terms
India's consumer regulator is investigating Apple's software warranty terms. The iOS 18 update allegedly damaged iPhone functionality and required costly repairs. Apple contests these accusations, citing global industry standards for software warranties. The regulator has escalated the matter for a detailed investigation into consumer rights violations. Apple could face fines or be forced to change its business practices.
Stocks in news: Tata Group stocks, HDFC Bank, Coforge, HFCL, Sun Pharma and Varun Beverages
On September 11, Indian stock markets experienced a remarkable bounce back after an initial dip at opening. Key index heavyweights attracted selective buying, which limited the day’s overall losses. Major players like HDFC Bank and IT sectors remained in focus amid relevant corporate announcements. Additionally, SEBI's discussion paper regarding the Closing Auction Session received input on five critical areas.
Musk's X Corp and SpaceXAI resolve antitrust lawsuit against Apple
In a court filing, X and SpaceXAI, a division of SpaceX, moved to dismiss the claims in a lawsuit they brought against Apple and OpenAI last year. The filing did not explain the reasons for dismissal or say whether a settlement had been reached.
OpenAI's Sam Altman backs frontier AI safety rules, says 'pacing' development does not mean stopping
Sam Altman urges AI firms to establish shared safety standards for developing advanced systems. He advocates for independent auditors and consistent federal safety requirements for frontier AI. Altman clarified that pacing development does not mean halting progress in AI capabilities. Safety measures carry significant costs and should not be compromised by competition.
‘Extremely dystopian’: OpenAI CEO Sam Altman warns what could happen if powerful AI falls into wrong hands
Sam Altman, CEO of OpenAI, has drawn attention to two significant risks associated with artificial intelligence. He expressed concerns about the potential loss of human control over sophisticated AI systems. Additionally, he warned about the dangers of concentrated power in the hands of a few individuals. Altman strongly promotes a balanced strategy for AI advancement, aiming to maximize benefits for humanity while minimizing risks of misuse.
Delhi HC allows builders' body BAI to be party in CCI cement cartelisation case, dismisses UltraTech appeal
The Delhi High Court dismissed UltraTech Cement's appeal regarding the Builders Association of India's involvement. The court affirmed the association's impleadment to aid the antitrust regulator's assessment. This impleadment helps the Competition Commission of India reach a correct conclusion on allegations. The Builders Association of India had also alleged cartelization by grey cement manufacturers. The Competition Commission of India initiated an investigation after receiving market participant complaints.
Coinbase CEO Brian Armstrong, one of crypto’s richest leaders, has a $9 billion net worth, but he says he won’t create a charity foundation: "I'm not going to do that"
Coinbase CEO Brian Armstrong, one of crypto’s richest leaders, has a massive net worth of $9 billion but he has taken a different approach on philanthrophy. He said in an appearance on the Katie Miller Podcast that he sees much of philanthropy as counterproductive. Brian Armstrong also said charitable institutions can become driven by politics rather than service.
US Justice Department pauses cooperation with Canadian government: Report
The US Justice Department denied reports of pausing work with Canada. This denial came amid ongoing trade disputes between the two nations. The department stated a scheduled meeting was temporarily held for preparation. Reports indicated a directive to stop cooperation on cases and policy issues. The White House and Canadian government did not immediately comment on the matter.
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