In a significant ruling, a German court has found that Amazon has been using Nokia’s patented video technologies without proper licensing, marking a crucial development in a broader legal battle between the two companies. Nokia, the Finnish telecoms giant and key patent holder in the technology sector, said on Friday that the Munich Regional Court…
Despite ongoing tensions between Russia and the West, demand for the new iPhone in Russia is reportedly 15% higher than for its predecessor, according to a reseller. This surge in interest comes despite the phone being at least 50% more expensive than in Western markets. The iPhones are being sold through “parallel” imports, a practice…
Johnson & Johnson (J&J) has been embroiled in legal battles for years over allegations that its talc-based products, including its iconic baby powder, caused cancer due to contamination with asbestos. On Friday, a J&J subsidiary, Red River Talc, filed for bankruptcy for the third time, marking the latest development in the company’s ongoing effort to…
Europe’s second-highest court largely upheld an EU antitrust fine against U.S. chipmaker Qualcomm on Wednesday, while slightly reducing the penalty from 242 million euros to 238.7 million euros ($265.5 million). The European Commission initially imposed the fine in 2019, accusing Qualcomm of engaging in predatory pricing practices to stifle competition, specifically targeting British phone software…
The British pharmaceutical giant GSK made a significant stride in the fight against seasonal influenza by announcing positive results from a mid-stage trial of its mRNA-based flu vaccine. This promising development signals a critical step towards late-stage clinical trials, as GSK aims to enhance its vaccine portfolio and address current limitations in flu protection. The…
Wells Fargo, once one of the most formidable players in the U.S. banking sector, now faces another regulatory setback, further complicating its efforts to emerge from a long-standing compliance crisis. The recent regulatory rebuke concerning the bank’s insufficient efforts to combat money laundering is a blow to its ongoing struggle to restore credibility after the…
In a dramatic move that signals a broader crackdown on global accounting firms operating in China, PwC’s mainland China unit, PwC Zhong Tian LLP, has been handed a six-month suspension and fined a record 441 million yuan ($62 million) by Chinese regulators. This decision, stemming from PwC’s audit work for the debt-ridden property developer China…
The Indian Competition Commission (CCI) recently concluded a long-standing investigation into e-commerce giants Amazon and Walmart-owned Flipkart, finding both companies guilty of violating local antitrust laws. The investigation, launched in 2020, uncovered practices that favored certain sellers and created an uneven playing field in India’s rapidly growing e-commerce market. These findings have far-reaching implications not…
China’s ambitious plan to stimulate consumption through a massive trade-in policy has yet to produce significant results, according to several industry experts. The initiative, announced in July, involves allocating 300 billion yuan ($41.5 billion) in ultra-long special government bonds to support both consumer trade-ins and equipment upgrades. Despite this substantial financial commitment, businesses and analysts…
The U.S. Treasury unveiled new proposed regulations for a corporate alternative minimum tax on Thursday, marking a significant step toward addressing corporate tax avoidance and generating substantial revenue for the government. The proposed tax is projected to yield $250 billion over the next decade by targeting around 100 large corporations that currently pay an average…
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