US 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.
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.
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.
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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.
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.
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.
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.
Iowa man sued Nintendo to become a certified ‘Professor of Pokémon’ and sought $341,000; judge calls case ‘completely frivolous’
A federal judge has thrown out Kyle Owens' lawsuit against Nintendo and Pokémon Company International. Owens aimed to achieve the status of an official Pokémon Professor, but his application was denied due to a pending arrest warrant found during his background check. The judge criticized his outrageous damages claim of $341,000 as a misuse of judicial resources and cautioned Owens against future frivolous filings.
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.
Opera loses court challenge against EU exemption of Microsoft's Edge from DMA rules
The European Commission in its 2024 decision said Edge was not an important gateway for businesses to reach users even though it met the quantitative criteria set out under the Digital Markets Act which sets out a list of dos and don'ts for Big Tech.
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.
Meta defeats Instagram shopping monopoly lawsuit for now
US Magistrate Judge Virginia DeMarchi in San Jose, California, on Friday dismissed claims brought by London-based Ollywan, which had alleged last year that Meta copied its concept for a "tag-based" shopping platform before launching Instagram Shopping in 2016.
India investigates global fragrance giants over price collusion, document shows
Indian authorities are investigating global fragrance companies for alleged price collusion. This new case follows an ongoing probe into labor anti-poaching deals. The Competition Commission of India is examining cartelization in the fragrance sector. A previously drafted report was recalled due to commercial secret redaction issues. The market for flavors and fragrances in India is projected to grow significantly.
US Justice Department accuses Google of evidence destruction in antitrust case
The DOJ asserted in a court filing unsealed in a Washington, D.C., federal court on Thursday that Google failed to timely suspend a policy allowing the automatic, permanent deletion of employees' chat logs.
Facebook asks court to dismiss US government, states antitrust cases
The FTC and states accused Facebook of breaking antitrust law to keep smaller competitors at bay and snapping up social media rivals, like Instagram for $1 billion in 2012 and WhatsApp in 2014 for $19 billion.
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