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September 10, 2019 | Via AP News

States Led by Texas Target Google in New Antitrust Probe

Fifty U.S. states and territories, led by Texas, announced an investigation into Google’s “potential monopolistic behavior.” The Monday announcement closely followed one from a separate group of states Friday that disclosed an investigation into Facebook’s market dominance. The two probes widen the antitrust scrutiny of big tech companies beyond sweeping federal and congressional investigations and enforcement action by European regulators.

August 23, 2019 | Via BBC

Hasbro to Buy Peppa Pig Owner Entertainment One for $4bn

US toy maker Hasbro will acquire Peppa Pig owner Entertainment One for around £3.3bn ($4bn), the firms said in a statement. Hasbro said the deal would expand its entertainment and “family-oriented storytelling” portfolio. UK-listed Entertainment One owns other preschool titles including PJ Masks. The American toy giant is behind a diverse range of titles including the My Little Pony and Transformers franchises, as well as the Monopoly board game and Play-Doh.

July 26, 2019 | Via CNBC

Apple Plans to Buy Intel’s Wireless Chip Unit for $1 Billion

Apple has agreed to buy the majority of Intel’s smartphone modem division, the companies announced on Thursday. Apple currently purchases Intel modems for iPhones, which allow it to connect to networks operated by carriers such as Verizon and AT&T. But in April, Intel announced that it planned to leave the smartphone modem market because Intel had “no clear path to profitability and positive returns.

July 24, 2019 | Via The Guardian

US Justice Department Targets Big Tech Firms in Antitrust Review

The US justice department is opening a broad antitrust review into major technology firms, as criticism over the companies’ growing reach and power heats up. The investigation will focus on growing complaints that the companies are unlawfully stifling competition. “Without the discipline of meaningful market-based competition, digital platforms may act in ways that are not responsive to consumer demands,” added the assistant attorney general Makan Delrahim, of the antitrust division.

July 8, 2019 | Via The Guardian

Deutsche Bank Starts Cutting London Jobs with 18,000 at Risk Worldwide

Deutsche Bank has started cutting jobs in London as part of a plan to reduce its global workforce by 18,000 to try to revive its ailing fortunes. The jobs being cut makeup 20% of Deutsche’s global workforce and will hit its investment bank hard. The chief executive, Christian Sewing, promised “tough cutbacks” to the investment bank in May as part of €1bn (£880m) of cost reductions – the latest round in a series of cuts.

June 21, 2019 | Via BBC

Apple Warns Trump that More China Tariffs will Help Rivals

Apple has joined a growing chorus of firms urging the Trump administration to drop a plan for more US tariffs on Chinese goods. The US has said it may impose duties on $300bn (£236.1bn) worth of Chinese products if the two sides can’t reach a trade deal. In a letter, Apple “urged” the White House to drop the tariff plan. The tech giant said the duties would “tilt the playing field” to its global rivals.

June 20, 2019 | Via The Guardian

Adidas Loses Three-Stripe Trademark Battle in European Court

Adidas has been unsuccessful in an attempt to expand its trademark three-stripe design in the EU after a court ruled it was not “distinctive” enough. The three-stripe logo was first registered by Adidas’s founder, Adi Dassler, on a football boot on 18 August 1949, but the court said it was not sufficient to identify the products as originating from the brand. The ruling is part of a long-running dispute between the German sportswear manufacturer and the Belgian company Shoe Branding Europe.

May 31, 2019 | Via CNN

Uber Lost More than $1 Billion in the First Quarter

Uber said Thursday it lost more than $1 billion in the first three months of 2019, in the latest sign that the company has a long and uncertain road ahead to profitability. The ride-hailing company lost $1.01 billion in the first quarter, compared to a rare profit of $3.75 billion in the same period a year ago, which was fueled by its decision to cede two of its operations abroad to rivals. For the better part of a decade, Uber raised unprecedented sums of capital from venture capitalists, celebrities and Saudi Arabia to bulldoze into markets around the world.

May 10, 2019 | Via CNBC

Uber Prices IPO at $45 Per Share, at Low End of Range

Uber priced its IPO at $45 per share Thursday, at the low end of its stated range. At the IPO price of $45 per share, the company will be valued on a non-diluted basis at about $75.46 billion, which will put the stock’s market cap right around the size of Caterpillar’s and make it one of the most valuable companies ever to go public. In 2018, Uber’s revenue reached $11.3 billion for the year, up 43% from 2017, while reporting adjusted losses of $1.8 billion, an improvement over losses of $2.6 billion in 2017, according to its IPO filing. The company has never turned a profit.

May 3, 2019 | Via CNBC

Beyond Meat Surges 163% in the Best IPO so far in 2019

In the strongest market debut so far this year, Beyond Meat shares surged 163% Thursday, giving the maker of plant-based meat substitutes a market value of $3.77 billion. On Wednesday night, Beyond priced its initial public offering at $25 per share, for an implied market value of $1.46 billion. Beyond’s meat alternatives, which range from fake ground beef to burger patties, are designed to more closely mimic the texture and taste of traditional meat.

September 2019
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