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.
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.
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