Tag: competition and markets authority

Adobe and Figma Terminate $20 Billion Deal After Clash With European, UK Regulators
18Dec By adminNo Comments
Technology

Adobe and Figma Terminate $20 Billion Deal After Clash With European, UK Regulators

[ad_1] Adobe Inc. walked away from its $20 billion acquisition of startup Figma Inc. after clashing with regulators in Europe and the UK. Adobe will pay Figma a $1 billion termination fee, the companies said in a statement on Monday. They saw “no clear path” to getting regulatory approvals from the European Commission and the UK's Competition and Markets Authority.  Adobe, the dominant force for years in such creative software as Photoshop and Illustrator, announced the purchase of Figma in September 2022.  The acquisition, which would have been one of the largest takeovers ever of a private software maker, was a massive bet that more creative work will be done on the web, a market that Figma has rapidly seized. While Adobe has introduced less-expensive, streamlined products for that au...
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5 things about AI you may have missed today: UK unveils AI principles, PwC’s AI drive, and more
18Sep By adminNo Comments
Technology

5 things about AI you may have missed today: UK unveils AI principles, PwC’s AI drive, and more

[ad_1] UK unveils AI principles to prevent dominance by tech giants; AI revolutionises clinical research: shaping the future of healthcare; Church in Texas utilises AI-generated service powered by ChatGPT; Pebble challenges Elon Musk's X with AI-generated content- this and more in our daily roundup. Let us take a look.1. UK unveils AI principles to prevent dominance by tech giantsThe UK has unveiled principles aimed at preventing AI dominance by tech giants. The Competition and Markets Authority (CMA) seeks to balance innovation with accountability and transparency. It has revealed seven principles that include holding developers accountable, preventing Big Tech monopolies, and stopping anti-competitive behaviour. CMA's CEO, Sarah Cardell, emphasised the potential of AI, but warned agai...
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Apple argues UK competition watchdog had no power to launch probe
11Mar By adminNo Comments
Technology

Apple argues UK competition watchdog had no power to launch probe

[ad_1] Technology giant Apple on Friday told a London tribunal that Britain's competition watchdog had "no power" to launch a probe into its mobile browsers because it did so too late.The Competition and Markets Authority (CMA) opened a full investigation in November into cloud gaming and mobile browsers over concerns about restrictions by iPhone-maker Apple, as well as by Google. Apple filed an appeal in January at the Competition Appeal Tribunal in London and argues the investigation is "invalid". Its lawyer Timothy Otty said on Friday that the market investigation should by law have been opened last June at the same time as the CMA published a report on mobile ecosystems, which found the two tech giants had an "effective duopoly".He added in court filings that Apple has "suffered se...
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Alphabet to Meta, UK Consumers At Risk From “Predatory” Big Tech Firms, Report Warns
25Oct By adminNo Comments
Technology

Alphabet to Meta, UK Consumers At Risk From “Predatory” Big Tech Firms, Report Warns

[ad_1] UK consumers could be at risk from the “predatory” behavior of Big Tech companies if the government continues to delay new laws. UK consumers could be at risk from the “predatory” behavior of Big Tech companies if the government continues to delay new laws intended to curb their power, according to a new lawmaker report.The Business, Energy and Industrial Strategy Committee urged the government to push through the Digital Markets Bill, according to a report published Tuesday. The new law would help boost the powers of the Competition and Markets Authority and its new unit that polices tech firms. The CMA is toughening its stance on tech dominance post-Brexit with the newly set up Digital Markets Unit, that'll be able to enforce a code of conduct and potentially suspend, block a...
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