The so-called Magnificent Seven technology companies brigade that have powered this year’s US stock rally seem to be having not so great time in the stock market. These “magnificent seven” comprise seven technology companies: Alphabet, Amazon, Apple, Facebook parent Meta, Microsoft, Nvidia and Tesla. The seven have added almost $4tn in market capitalisation in 2023, …
Amazon’s decision to legally challenge its inclusion in a group of companies subject to strict online content regulations in the European Union has caught the attention of industry experts, who speculate that other tech giants may soon follow suit. Taking its case to the Luxembourg-based General Court, Europe’s second-highest court, Amazon becomes the first Big …
EU antitrust regulators have cautioned that Amazon’s $1.7 billion acquisition of iRobot, a robot vacuum cleaner maker, could potentially diminish competition and strengthen Amazon’s position as an online marketplace provider. The European Commission has launched a comprehensive investigation and will make a decision by November 15 regarding the approval or blockage of the deal. In …
Meta Platforms has suggested that subsidies from Big Tech should be the last resort for European Union telecoms operators attempting to get US companies to contribute to their network costs. Operators like Deutsche Telekom, Orange, and Telefonica have been advocating for two decades for tech giants to support the rollout of 5G and broadband, arguing …