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Competition Watchdog

All articles tagged with #competition watchdog

business-technology2 years ago•1 min saved

EU to Block Amazon's Acquisition of iRobot, Sending iRobot Shares Plummeting

The European Union's competition watchdog is set to block Amazon's $1.7bn takeover of iRobot, maker of the Roomba cleaner, over concerns that the tie-up could stifle competition in the smart home appliance market. The UK had previously cleared the purchase, but the EU's rejection could have significant implications for both companies. Regulators fear that Amazon's ownership of iRobot could disadvantage other vacuum-makers, potentially limiting consumer choice and competition in the sector.

via BBC.com|

#amazon #business-technology #competition-watchdog

technology2 years ago•3 min saved

"UK Competition Watchdog Investigates Microsoft's OpenAI Partnership"

The UK's Competition and Markets Authority (CMA) is investigating whether Microsoft's partnership with OpenAI could be considered a merger and potentially affect the AI market. Microsoft owns 49% of OpenAI and claims to have maintained independence for both companies. The scrutiny comes after recent turmoil at OpenAI, including the firing and subsequent reinstatement of its CEO, Sam Altman. The CMA is seeking comments on the partnership and may launch a probe if necessary. Microsoft asserts that the partnership has fostered AI innovation and competition, and it will cooperate with the CMA.

via BBC.com|

#ai-market #competition-watchdog #merger

finance2 years ago•0 min saved

UK Competition Watchdog Finds Five Banks Broke Law in Gilt Market Trading

The UK competition watchdog has provisionally found that five banks broke the law in the gilt market. The banks are Barclays, NatWest, JP Morgan, Citi and MUFG. The watchdog alleges that the banks shared information about the prices they were willing to pay and receive for government bonds, which is against competition law.

via Financial Times|

#banks #competition-watchdog #finance

business2 years ago•0 min saved

Activision Blizzard's Earnings Report Follows U.K. Regulators' Block of Microsoft Deal

Activision Blizzard reported strong earnings in its Q1 2023 results, released a day early after U.K. regulators blocked its $69 billion sale to Microsoft. The company's net bookings rose 25% to $1.86 billion, beating analyst expectations, and non-GAAP earnings of 60 cents a share topped expectations of 51 cents a share. The results indicate that Activision Blizzard has gained momentum independent of a sale to Microsoft.

via Barron's|

#activision-blizzard #business #competition-watchdog