BIG TECH CRACKDOWN
EU threatens significant fines for unfair online trade practices
The European Commission is proposing a new Digital Fairness Act aimed at enhancing consumer rights. This legislation will impose fines on companies engaging in unfair practices such as deceptive advertising targeted at children. It seeks to ban dark patterns and other misleading digital strategies that cost consumers significantly. Companies will need to comply with these new rules to avoid substantial penalties.
Anthropic wants to create new billionaires through its IPO, but American voters are growing tired of Big Tech's wealth explosion
Anthropic is preparing for a significant IPO amid growing public resistance to AI-related infrastructure projects. Investors are discussing a valuation between $1 trillion and $1.5 trillion for the Nasdaq listing. Communities express concerns over environmental impacts and rising electricity costs linked to data centres. Public sentiment is shifting against technology companies, raising questions about economic benefits versus local costs.
Gas prices in the US are nearly half of Europe's: Why are American drivers paying so much less?
American motorists are currently paying much less for fuel compared to drivers in the European Union. The average petrol price in the EU is almost double that of the US, highlighting significant market differences. Higher taxation in Europe contributes to this price discrepancy, making it important for consumers to understand. Diesel costs also reflect a noticeable difference, though the gap is smaller than for petrol.
Hispanic voters helped Trump win in 2024. Now his immigration crackdown could cost him their support
Hispanic voters played a significant role in the Democratic resurgence during the 2026 US midterms. Many voters expressed dissatisfaction with immigration enforcement and the economy under the previous administration. In Texas, communities along the border showed a remarkable shift back to Democratic support. Despite earlier backing Trump in 2024, these voters prioritized economic concerns over immigration policies. Future political strategies must effectively address these diverse voter concerns and priorities.
Trump honours Microsoft's CEO Satya Nadella after Vance drops H-1B visa hammer on company
President Donald Trump recognized tech leaders including Satya Nadella with National Medals for their achievements during a ceremony. Vice President JD Vance announced the suspension of Microsoft's green card applications due to alleged visa abuse. Vance criticized Microsoft for laying off American workers while hiring foreign employees. The event coincided with ongoing discussions about the implications of AI on the economy.
'Our message to Microsoft is...': JD Vance targets tech giant over fraud, abuse as US says Microsoft, Adobe sought 3 million foreign workers
The Trump administration has suspended major tech companies from applying for permanent residency for foreign workers. Various companies, including Microsoft and Adobe, have been accused of abusing the H-1B visa program. U.S. Vice President JD Vance claimed that Microsoft replaced laid-off American workers with foreign workers. Labor Secretary Keith Sonderling stated that nearly 3 million foreign workers were requested by these companies.
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IT firms cut H-1B reliance; Anthropic flags AI risks in IPO filing
Top Indian IT firms have sharply cut H-1B visa filings as rules tighten. This and more in today’s ETtech Top 5.
US government seeks to join Elon Musk in challenge against EU's fine on X
The US government has formally requested to join Elon Musk's effort to annul a significant EU fine. The fine of €120 million was imposed by European tech regulators for breaching online content regulations. This action followed a two-year investigation under the Digital Services Act initiated by the EU. The US Department of Justice criticized the EU's regulatory authority, claiming it oversteps its jurisdictional boundaries.
Australian PM seeks big tech backing for internet safety, AI rules
Australian leader Anthony Albanese said Sunday he was seeking big tech backing for his country's child online safety laws and greater AI regulation, after meeting former Apple CEO Tim Cook in California.
Google defeats US bid to force ad tech sale
While the ad exchange is a small part of Google's business, the ruling is the second powerful symbolic victory against the U.S. Department of Justice in its efforts to force Google to sell assets to address illegal monopolies.
Behind Shein’s empire is founder Sky Xu who prefers the shadows
Shein's founder, Sky Xu, appeared briefly at the Hong Kong stock exchange debut. He maintained a reclusive persona, unlike other company leaders. This low profile reflects a broader trend among Chinese businessmen today. Shein's valuation has significantly decreased from its previous peak. The company faced past rejections for overseas stock exchange listings.
Amazon sued by US FTC, 22 states over alleged $20 billion ad auction overcharges
The US FTC and 22 states have sued Amazon, alleging it manipulated digital advertising auctions and overcharged about 1.2 million customers by more than $20 billion. Amazon rejected the allegations as misguided and flawed. The lawsuit targets Sponsored Products, Sponsored Brands and Sponsored Display, intensifying scrutiny of the tech giant.
Europe forges ahead with Big Tech crackdown with X fine, defying Trump
Three months after hitting Google with an unexpectedly high 2.95 billion euro ($3.44 billion) fine, the European Commission on Friday imposed a 120 million euro penalty on Elon Musk's X for breaching European Union online content rules.
US judge rules Meta purchases of Instagram and WhatsApp did not stifle competition
The ruling is a major setback for the US Federal Trade Commission, which is pursuing a separate antitrust case against Amazon. The agency sought to force Meta to restructure or sell Instagram and WhatsApp in order to restore competition among social media networks.
Google hits setback in bid to overturn EU antitrust fine in Android case
Google suffered a major blow as a top EU court adviser recommended upholding a $4.7 billion antitrust fine over Android’s market dominance. The opinion, though non-binding, supports regulators’ claims that Google limited competition. A final ruling from the European Court of Justice is pending.
European regulators crack down on Big Tech
Apple, Meta Platforms and Google are set to be investigated for potential violations of the European Union's Digital Markets Act (DMA) that could lead to fines of up to 10% of their global annual turnover, according to people with direct knowledge of the matter.
Big Tech app stores focus of EU digital crackdown: Margrethe Vestager
In an interview, EU's competition chief Margrethe Vestager said she’s most concerned about smaller app stores being given fair access to operating systems run by companies that dominate the market like the likes of Apple Inc., Alphabet Inc.’s Google, and Microsoft Corp.
Meta appeals against EU gatekeeper status for Messenger, Marketplace
As part of its latest crackdown on Big Tech, the EU in September picked 22 "gatekeeper" services, run by six of the world's biggest tech companies, to face new rules under the Digital Markets Act (DMA).
Premier Li Qiang urges Chinese tech giants to support economy as crackdown ends
After listening to suggestions from firms that also included PDD Holdings' Pinduoduo and JD.com, Li told them authorities would seek to make regulation of platform firms more transparent and predictable.
Beijing's regulatory crackdown wipes $1.1 trillion off Chinese Big Tech
The central bank said on Friday most of the main problems for platform companies' financial businesses had been rectified, and regulators would shift their focus to the industry as a whole rather than specific companies.
Big Tech crackdown looms as EU, UK ready new rules
The updates help solidify Europe's reputation as the global leader in efforts to rein in the power of social media companies and other digital platforms.
Chinese ride-hailing giant Didi reopens to new users after $1.2 billion fine
Didi was one of the highest-profile targets of a sweeping crackdown on China's tech sector launched in 2021, which wiped billions of dollars off the value of homegrown companies.
Alibaba Founder Jack Ma resurfaces, cites 'difficult' year to rural teachers
Alibaba Group Founder Jack Ma, who has gone into hiding after regulatory crackdown in China amid the massive Covid surge in the country, resurfaced in a short video on the New Year, citing 'difficult' and 'extraordinary' year to the rural teachers in the country.
China's Tencent wins first game licence in 18 months
China's gaming regulator, the National Press and Publication Administration, on Thursday said it had approved 70 new titles in November including Tencent's action game "Metal Slug: Awakening" and a role-playing game "Journey to the West: Return" by rival NetEase.
SoftBank slows new investments due to crash in its holdings of tech firms
SoftBank is going through a tough time due to a crash in holdings of tech firms, the Russia-Ukraine war and China's regulatory crackdown and has thus slowed down new investments.
China's tech crackdown wreaks havoc in jobs market
Over the past year, China has launched a relentless crackdown on big tech firms, with a raft of new regulations aimed at curbing consumer rights abuses, monopolistic market practices, breaches of consumer data privacy, protecting minors from gaming addiction and curbing content deemed socially harmful - among other things.
More fuel for Indian startups as global capital shifts from China
Indian startups, which are clocking record inflows of venture capital this year, will gain further as global capital moves away from China amid a tech crackdown in that country, founders and investors say.
China takes next step in taming Big Tech with personal data law
China has passed legislation setting out tougher rules for how companies handle user data, a move pushing forward its campaign to curb Big Tech’s influence.
What China expects from businesses: Total Surrender
Unlike regulators in Europe and the United States, China is using the guise of antitrust to bring powerful tech companies into line with its priorities.
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