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Google Loses EU Antitrust Fight; Softbank Moves on Computing Power | Stock Movers
Bloomberg84d agoneutralVIDEO
Google Loses EU Antitrust Fight; Softbank Moves on Computing Power | Stock Movers

On this episode of Stock Movers: - SoftBank (SFTBY) shares are responding to news that it is starting a new U.S. venture to rent out the computing power needed to build and run artificial-intelligence models, aiming to capitalize on strong American demand for AI computing resources. - Shares of Alphabet/Google (GOOG) are responding to the company losing its long-running fight against a 4.1 billion ($4.7 billion) European Union antitrust fine after the bloc's top judges said regulators were right to punish the US giant for abusing Android's market power.

Top EU court dismisses Google appeal of $4.5 billion antitrust fine
Associated Press84d agobearish
Top EU court dismisses Google appeal of $4.5 billion antitrust fine

Judges at the European Union's top court dismissed an appeal by Google over a landmark, 4.1 billion euro ($4.5 billion) antitrust fine imposed for throttling competition and reducing consumer choice through the dominance of its mobile Android operating system. The case has been tangled up in courts since the European Commission announced the fine in 2018. “The appeal brought by Google and its parent company Alphabet against the judgment of the General Court is dismissed, thereby confirming the penalty imposed for Google Search’s abuse of a dominant position in the context of the Android operating system,” the Luxembourg-based judges wrote in their ruling.

Google loses fight against record €4.1 billion EU antitrust fine
Reuters85d agoneutral
Google loses fight against record €4.1 billion EU antitrust fine

Alphabet's Google on Thursday lost its fight against a record fine imposed by ‌EU antitrust regulators eight years ago for using its Android mobile operating ‌system to block rivals, a court ruling likely to boost Europe's crackdown on Big Tech. The European ​Commission had originally handed out a €4.34 billion fine to Google in 2018 for its agreements which forced phone manufacturers to pre-install Google Search, the Chrome browser and the Google Play app store on their Android devices and prevented them from using rival ‌Android systems. Google then appealed ⁠to the Luxembourg-based Court of Justice of the European Union, Europe's highest.

Google to pay Klarna $2 billion in Swedish antitrust suit
Yahoo Finance Video85d agoneutralVIDEO
Google to pay Klarna $2 billion in Swedish antitrust suit

Yahoo Finance Tech Editor Dan Howley breaks down some of the day's biggest headlines, including Alphabet's Google (GOOG, GOOGL) being ordered by a Swedish court to pay nearly $2 billion to buy now, pay later platform Klarna (KLAR) in an antitrust suit.

Ford Reputation Deeply Damaged by 740,000 Recall
24/7 Wall St.85d agobearish
Ford Reputation Deeply Damaged by 740,000 Recall

Ford (NYSE: F) ranked No. 1 among “Mainstream Brands” in the new J.D. Power Initial Quality Study. It was the first time it had occupied that spot since 2010. Much of that positive news was wiped out by a recall of more than 740,000 vehicles, according to the National Highway Traffic Safety Administration. The notice ... Ford Reputation Deeply Damaged by 740,000 Recall

Google Must Pay Nearly $2 Billion to Klarna in Antitrust Case
The Wall Street Journal85d agoneutral
Google Must Pay Nearly $2 Billion to Klarna in Antitrust Case

A Swedish court ordered Alphabet’s Google to pay Klarna $1.97 billion in damages after the buy now, pay later company won an antitrust case alleging that the search giant engaged in anticompetitive practices. Klarna’s price-comparison unit, PriceRunner, sued Google in 2022 in Swedish court. PriceRunner alleged Google was giving preferential treatment to its own price-comparison service in its search results.

Investing.com85d agoneutral
Klarna pops 6% after crushing Google in $1.97B antitrust verdict

Investing.com -- Klarna Group (NYSE:KLAR) shares jumped 6% on Wednesday following a massive legal victory over Alphabet’s tech monopoly. A Swedish court ruled in favor of Klarna’s subsidiary, PriceRunner, awarding the company a staggering $1.97 billion in antitrust damages. The high-stakes judgment caps off a fierce battle over online shopping dominance, with the court finding that Google illegally choked out competition by manipulating search results to favor its own comparison-shopping service

Swedish court orders Google to pay $1.5 billion to Klarna in antitrust damages
Reuters85d agoneutral
Swedish court orders Google to pay $1.5 billion to Klarna in antitrust damages

A Swedish court on Wednesday ordered Alphabet's Google to pay about $1.5 billion in antitrust damages ‌to PriceRunner, the price comparison business owned by payments platform Klarna. The ‌award, equivalent to around 14.3 billion Swedish crowns, comes amid growing scrutiny of U.S. Big ​Tech companies in Europe. It is the largest award by a Swedish court in a competition case, though well below the 78 billion crowns PriceRunner had sought, including accrued interest.

Uber changes key rule for drivers amid rider safety lawsuits
TheStreet86d agobearish
Uber changes key rule for drivers amid rider safety lawsuits

Uber’s business depends on a simple but fragile exchange of trust. A customer opens an app, confirms a name and license plate, and gets into a stranger’s car. This routine has become normal for millions of riders heading to airports, restaurants, offices, hotels, concerts, and home after nights ...