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EU watchdog flags harder line on cross-border funds management

LONDON (Reuters) – Brexit safeguards to stop asset managers in Britain running “shell” investment funds in the European Union to retain access to its markets should be hardwired into EU law, the bloc’s securities watchdog said on Wednesday. After Britain voted... More »

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German watchdog launches Amazon investigation: report

BERLIN (Reuters) – Germany’s anti-trust authority has launched an investigation into Amazon’s relationship with third-party traders selling on its site, its head was quoted as saying on Sunday. “We are currently investigating whether and how Amazon influences ... More »

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Big Four told to ring fence auditing in Britain by June 2024

LONDON (Reuters) – PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality. Corporate failures at b... More »

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Amazon CEO Bezos willing to testify before U.S. Congress: letter

WASHINGTON (Reuters) – Amazon.com Inc (AMZN.O) Chief Executive Jeff Bezos is willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies, according to a letter from an attorney representing A... More »

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U.S. SEC delays ruling on controversial NYSE high-speed data plan

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said it needs more time to decide whether to allow a plan by the New York Stock Exchange to offer a new high-speed wireless connection to the exchange that some brokers have blasted as anti-compe... More »

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New York drops fight against T-Mobile-Sprint merger

NEW YORK (Reuters) – New York on Sunday dropped its fight against the $40 billion merger of U.S. wireless carriers T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N), saying the state would not appeal a judge’s approval of the deal. New York Attorney General Letit... More »

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UK watchdog proposes overhaul of cash savings products

LONDON (Reuters) – Britain’s markets watchdog proposed on Thursday a single interest rate for cash savings products, a move it says would bump up interest payments to consumers by 260 million pounds ($340.96 million) a year. The Financial Conduct Authority (FC... More »

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Twitter suspends accounts linked to Saudi spying case

SAN FRANCISCO (Reuters) – Weeks after U.S. authorities brought a spying case against three Saudi nationals for digging up dissidents’ personal data at Twitter, the company suspended tens of thousands of accounts that appear to be linked to one suspect’s compan... More »

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T-Mobile CEO takes the stand in T-Mobile/Sprint merger trial

(Reuters) – T-Mobile US Inc Chief Executive John Legere testified on Friday that he believes U.S. regulators considered Dish Network’s history of attempting to build a wireless network when they approved the merger between T-Mobile and Sprint Corp. A group of ... More »

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Facebook, privacy activist Schrems battle nears end on Dec. 19

BRUSSELS (Reuters) – Austrian privacy activist Max Schrems’ seven-year battle against Facebook reaches a crucial point on Dec. 17 when an adviser to Europe’s top court will issue his view on whether tools used by companies to transfer data abroad are legal or ... More »

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Qantas, Virgin Australia get slots at Tokyo’s Haneda airport

(Reuters) – Qantas Airways (QAN.AX) and Virgin Australia Holdings Ltd (VAH.AX) were awarded one slot each to operate flights at Tokyo’s Haneda Airport, according to a draft decision by Australia’s International Air Services Commission (IASC). The opening at Ha... More »

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UK watchdog proposes car finance commission crackdown

LONDON (Reuters) – Britain’s markets watchdog has proposed banning auto dealers and brokers from receiving commission linked to interest rates on loans used to finance car purchases, a step it said would save consumers 165 million pounds ($208.4 million) annua... More »

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Billionaire Slim’s telco bullish on coveted Mexico TV license

MEXICO CITY (Reuters) – America Movil, the telecoms giant controlled by the family of billionaire Carlos Slim, is growing increasingly bullish that it will receive a license to offer television in Mexico, a prize that has eluded it for nearly three decades. Am... More »

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Apple’s app store eyed in U.S. Congress antitrust probe

(Reuters) – The U.S. House Judiciary Committee on Friday requested information from Apple Inc Chief Executive Tim Cook as part of an investigation of competition in digital markets. The lawmakers in a letter sought information related to Apple’s App Store, whi... More »

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Senator Harris takes aim at Trump antitrust probe of automakers…

WASHINGTON (Reuters) – U.S. Senator and Democratic presidential candidate Kamala Harris on Friday asked a government watchdog to look into the Trump administration’s decision to launch an antitrust probe into four automakers cooperating with California on tigh... More »

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Amazon and Indian trader group in public spat over discounts

NEW DELHI (Reuters) – Amazon.com (AMZN.O) defended its business strategies in India as it came under fire from a local trader group on Friday over discounted products on the global e-commerce giant’s website. New e-commerce foreign investment rules that took e... More »

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German cartel office to take Facebook case to High Court

BERLIN (Reuters) – Germany’s cartel office said on Monday it would appeal a regional court decision to suspend restrictions it had placed on Facebook’s data collection practices to the country’s highest court. A court in Duesseldorf had earlier suspended a Feb... More »

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Russia tells Google not to advertise ‘illegal’ events after…

MOSCOW (Reuters) – Russia’s state communications watchdog has asked Google (GOOGL.O) to stop advertising “illegal mass events” on its YouTube video platform, it said on Sunday. Tens of thousands of Russians staged what observers called the country’s biggest po... More »

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U.S. Department of Justice approves T-Mobile, Sprint tie-up

WASHINGTON (Reuters) – The U.S. Justice Department said it was greenlighting T-Mobile US Inc’s request to acquire rival Sprint Corp after the companies agreed to divest Sprint’s prepaid businesses including Boost Mobile to Dish Network Corp in an effort to cre... More »

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Ticket resellers settle New York charges over inflated concert…

NEW YORK (Reuters) – Two companies in the ticket resale industry agreed to pay $1.55 million to settle a lawsuit by New York Attorney General Letitia James accusing them of tricking tens of thousands of people into buying tickets for concerts, shows and other ... More »

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UK competition regulator puts brake on Amazon’s Deliveroo deal

(Reuters) – Britain’s competition regulator has stepped in to pause Amazon’s (AMZN.O) deal with online food delivery group Deliveroo while it considers launching a full investigation. Amazon led a $575 million fundraising in Deliveroo in May, making what the t... More »

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U.S. settles antitrust charges with Fox, CBS, Scripps, Cox, Tegna

WASHINGTON (Reuters) – The U.S. Justice Department said on Monday it had settled antitrust charges with CBS Corp, Cox Enterprises Inc, E.W. Scripps Co, Fox Corp and Tegna Inc, which were accused of sharing competitively sensitive information. “All five compani... More »

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Developers sue Apple over App Store practices

(Reuters) – Two app developers on Tuesday sued Apple Inc over its App Store practices, making claims similar to those in a lawsuit brought by consumers that the U.S. Supreme Court recently allowed to proceed. California-based app developer Donald R. Cameron an... More »

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U.S. states accuse Teva, other drugmakers, of price-fixing: lawsuit

WASHINGTON (Reuters) – U.S. states filed a lawsuit accusing Teva Pharmaceuticals USA Inc of orchestrating a sweeping scheme with 19 other drug companies to inflate drug prices – sometimes by more than 1,000% – and stifle competition for generic drugs, state pr... More »

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Facebook rejects co-founder call for breakup, senator urges U.S….

WASHINGTON (Reuters) – Facebook Inc quickly rejected a call from co-founder Chris Hughes on Thursday to split the world’s largest social media company in three, while lawmakers urged the U.S. Justice Department to launch an antitrust investigation. Facebook ha... More »

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Bank mergers key to stronger euro zone: French finance minister

BUCHAREST (Reuters) – Mergers in Europe’s fragmented banking sector are necessary to make the sector more resilient as the euro zone seeks to protect itself from future crises, France’s finance minister told Reuters in an interview. Bruno Le Maire, who joined ... More »

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Apple says Spotify wants benefits of a free app without being free

(Reuters) – Apple Inc on Thursday responded to Spotify Technology SA’s complaint with EU antitrust regulators, saying the audio streaming service “wants all the benefits of a free app without being free”. Spotify, launched a year after Apple unveiled its first... More »

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Australian regulator chides banks over delays in repaying wrongly…

SYDNEY (Reuters) – Australia’s corporate watchdog rebuked the biggest banks and financial services firms on Monday for delays in fixing internal systems that resulted in customers paying fees for services they had not received. The Australian Securities and In... More »

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Wall Street critic Warren vows to break up Amazon, Facebook, Google

NEW YORK (Reuters) – Senator Elizabeth Warren vowed on Friday to break up Amazon, Google and Facebook if elected U.S. president to promote competition in the technology sector. Seeking to stand out in a crowded field vying to be the Democratic candidate for pr... More »

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German antitrust watchdog to act against Facebook: report

BERLIN (Reuters) – Germany’s antitrust watchdog plans to order Facebook to stop gathering some user data, a newspaper reported on Sunday. The Federal Cartel Office, which has been investigating Facebook since 2015, has already found that the social media giant... More »

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Apple demanded $1 billion for chance to win iPhone: Qualcomm CEO

SAN JOSE, California (Reuters) – Qualcomm sought to become the sole supplier of modem chips for Apple’s iPhone to recoup a $1-billion “incentive payment” that Apple insisted on, not to block rivals from the market, Qualcomm’s chief executive testified on Frida... More »

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Austrian retailers file antitrust complaint against Amazon

VIENNA (Reuters) – Austrian retailers have filed a complaint against Amazon with their national competition authority over the U.S. e-commerce giant’s dual role as a retailer and a marketplace. The European Commission and Germany’s antitrust authority are also... More »

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Australian watchdog wants a regulator for dominant Google, Facebook

SYDNEY (Reuters) – Australia’s competition watchdog on Monday recommended tougher scrutiny and a new regulatory body to check the dominance of tech giants Facebook Inc and Alphabet Inc’s Google in the country’s online advertising and news markets. The recommen... More »

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Australian regulator says probe of tech giants spurs five…

SYDNEY (Reuters) – Australia’s competition regulator says it has five investigations afoot as a result of its examination of the market power and public influence of tech giants such as Facebook Inc and Alphabet Inc’s Google. “We have five investigations under... More »

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Several banks dismissed from U.S. metals price-fixing lawsuits

NEW YORK (Reuters) – A U.S. judge has dismissed five large banks from two antitrust lawsuits by investors alleging multi-year conspiracies to rig prices for hundreds of billions of dollars of transactions in the global silver and gold markets. U.S. District Ju... More »

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Blackstone wins EU approval to buy Thomson Reuters unit

BRUSSELS (Reuters) – U.S. private equity firm Blackstone Group (BX.N) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk unit, the European Commission said on Monday. The EU enforcer said it did not se... More »

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Australia probes claim Google harvests data, consumers pay

SYDNEY (Reuters) – Google is under investigation in Australia following claims that it collects data from millions of Android smartphones users, who unwittingly pay their telecom service providers for gigabytes consumed during the harvesting, regulators said o... More »

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AT&T court fight with U.S. Justice Department heads into closing…

WASHINGTON (Reuters) – Lawyers for the U.S. Justice Department and AT&T (T.N) will give closing arguments on Monday in a trial to determine if the wireless giant, owner of pay TV provider DirecTV, will be allowed to buy movie and TV show maker Time Warner (TWX... More »

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Sainsbury’s says Asda merger could result in some store sell-offs

LONDON (Reuters) – Sainsbury’s chief executive Mike Coupe said that it was possible that competition authorities would force some stores to be sold to allow the British supermarket chain’s proposed merger with Asda to go ahead. Sainsbury’s and Asda, the UK arm... More »

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Facebook’s hidden data haul troubles German cartel regulator

BONN, Germany (Reuters) – That the personal data of tens of millions of Facebook (FB.O) users fell into the wrong hands is troubling politicians, but Germany’s top competition regulator is questioning the sheer volume of information that the social network har... More »

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Australian regulator flags scrutiny of Uber Eats

SYDNEY (Reuters) – The head of Australia’s competition regulator said on Monday it will scrutinize contracts between Uber Technologies Inc [UBER.UL] and restaurants that use its food delivery app Uber Eats. The Australian Broadcasting Corporation reported on S... More »

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Singapore watchdog sets interim measures for Uber-Grab deal

SINGAPORE (Reuters) – Singapore’s competition watchdog on Friday outlined a set of interim measures for ride-hailing firms Grab and Uber Technologies to ensure an open market as it continued its investigation into their merger in the city-state. The Competitio... More »

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Google appeals India’s antitrust watchdog order for search bias

NEW DELHI (Reuters) – Online search giant Google has filed an appeal at the National Company Law Appellate Tribunal against an order from India’s competition watchdog that found it guilty of “search bias” and abuse of its dominant position, two sources aware o... More »

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Philippines, Malaysia put Uber-Grab deal under anti-competition…

MANILA/KUALA LUMPUR (Reuters) – Philippines and Malaysia said on Monday they will look into whether Uber Technologies’ [UBER.UL] move to sell its Southeast Asian business to ride-hailing rival Grab hinders competition, days after Singapore began a probe into t... More »

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Two arrested in Japanese fast-train bid-rigging case

TOKYO (Reuters) – A Kajima Corp official and a former executive of Taisei Corp were arrested on Friday as part of an investigation into the suspected rigging of bids for a Japanese high-speed rail project, prosecutors said. Prosecutors are investigating constr... More »

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Software may have helped Daimler pass U.S. emissions tests: report

The Mercedes star logo of an E Coupe is pictured before the annual news conference of Daimler AG in Stuttgart, Germany, February 2, 2017. REUTERS/Michaela Rehle BERLIN (Reuters) – U.S. investigators probing Mercedes maker Daimler (DAIGn.DE) have found that its... More »

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Petrofac bosses to be interviewed by Britain’s fraud office

(Reuters) – British oilfield services provider Petrofac said its top management, including its chairman and executive directors, would be interviewed by Britain’s Serious Fraud Office (SFO) regarding an ongoing investigation into suspected bribery and corrupti... More »

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Canada’s competition watchdog settles with HarperCollins

TORONTO (Reuters) – Publisher HarperCollins has agreed to donate C$150,000 ($120,000) in books as part of a settlement with a Canadian law enforcement agency over accusations it colluded with rival publishers and Apple Inc to set prices, the agency said on Tue... More »

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Luxembourg challenges EU order to recover tax from Amazon

FILE PHOTO – The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France on February 20, 2017. REUTERS/Pascal Rossignol/File Photo BRUSSELS (Reuters) – Luxembourg is challenging a European Union order to recover about 250 mill... More »

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AT&T/Time Warner antitrust trial set for March

FILE PHOTO: An AT&T logo and communication equipment is shown on a building in downtown Los Angeles, California October 29, 2014. REUTERS/Mike Blake/File Photo WASHINGTON (Reuters) – The trial to determine if the U.S. Department of Justice can stop AT&T Inc’s ... More »

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Australia to probe Facebook, Google over media disruption

FILE PHOTO: A 3D plastic representation of the Facebook logo is seen in this photo illustration May 13, 2015. REUTERS/Dado Ruvic/Illustration/File Photo SYDNEY (Reuters) – Australia’s competition regulator said on Monday it would investigate whether U.S. onlin... More »

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U.S. healthcare brightens tame U.S. high-grade M&A lending

CVS Health Corp’s planned US$66bn buy of Aetna Inc is poised to boost the healthcare sector’s share of US investment-grade mergers and acquisitions lending beyond its current one-third share of the US$122bn total as the sector remains a bright spot in an other... More »

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Exclusive: T-Mobile, Sprint plan merger without selling assets

T-Mobile U.S. Inc (TMUS.O) and Sprint Corp (S.N) plan to announce a merger agreement without any immediate asset sales, as they seek to preserve as much of their spectrum holdings and cost synergies as they can before regulators ask for concessions, according ... More »

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Italy may fine Telecom Italia over Vivendi control: source

Italy has launched a process that could end with Telecom Italia (TLIT.MI) being fined for failing to notify Rome that French media group Vivendi (VIV.PA) had assumed de facto control of the phone company, a government source said. More »

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EU regulators charge Teva over pay-for-delay drug deal

A building belonging to Teva Pharmaceutical Industries, the world’s biggest generic drugmaker and Israel’s largest company, is seen in Jerusalem February 8, 2017. EU antitrust regulators charged Israeli drugmaker Teva (TEVA.TA) (TEVA.N) on Monday with doing an... More »

CVS to pay $5 million to resolve U.S. drug probe

CVS Health Corp has paid $5 million to resolve allegations that pharmacies it operates in California failed to keep and maintain accurate records of prescription drugs, the U.S. Justice Department said on Tuesday. More »

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South Korea to fine Novartis unit over unfair drug promotions

FILE PHOTO: The logo of Swiss drugmaker Novartis AG is seen at its headquarters in Basel, Switzerland, January 25, 2017. REUTERS/Arnd Wiegmann/File Photo South Korea’s antitrust regulator said it would fine Novartis’ local unit 500 million won ($444,089) for a... More »

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Pfizer subpoenaed in U.S. intravenous saline solution probe

FILE PHOTO – The Pfizer logo is seen at their world headquarters in Manhattan, New York, U.S., August 1, 2016. REUTERS/Andrew Kelly/File Photo Pfizer Inc has received grand jury subpoenas from the U.S. Justice Department in connection with an antitrust investi... More »

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Antitrust move may let America Movil cut labor costs: union

The logos of America Movil is seen on the wall of the reception area in the company’s corporate offices in Mexico City August 12, 2015. REUTERS/Henry Romero Antitrust measures announced last week that would split up Carlos Slim’s America Movil and open its fix... More »

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Euronet Worldwide trumps Ant Financial`s offer to buy MoneyGram

A Moneygram logo is seen outside a bank in Vienna, Austria, June 28, 2016. REUTERS/Heinz-Peter Bader U.S. electronic payments company Euronet Worldwide Inc (EEFT.O) launched a $1 billion bid for rival MoneyGram International Inc (MGI.O) on Tuesday, arguing tha... More »