Three former employees of LG New Zealand, including the company’s former Country Manager Dowan Kim, have admitted to criminal charges after key evidence was destroyed during a regulatory investigation into potential anti-competitive behavior. The investigation, conducted by New Zealand’s Commerce Commission, was focused on possible resale price maintenance in the…

Facebook parent company Meta has been hit with a new lawsuit from a coalition of major French media companies, who accuse the tech giant of engaging in unlawful business practices that allegedly distort competition in the digital advertising market, according to Reuters. The legal action, which was filed on Wednesday with…

Under the European Union’s new tech regulation framework, the European Commission has issued its first penalties under the Digital Markets Act (DMA), targeting U.S. tech behemoths Apple and Meta, according to Politico. Apple was fined €500 million for violations tied to its App Store practices, while Meta received a €200 million…

Boeing has announced the sale of significant portions of its Digital Aviation Solutions division to private equity firm Thoma Bravo for $10.55 billion. The agreement, disclosed in a statement on Tuesday, includes the sale of Boeing’s navigation business Jeppesen, which the company originally acquired in 2000 for $1.5 billion. Per…

Claus-Dieter Ehlermann, a former top official at the European Commission and a major figure in the development of EU competition law, has died at the age of 94. Known for his decades-long influence on European legal and regulatory policy, Ehlermann helped modernize antitrust enforcement during a formative period for the…

Instagram co-founder Kevin Systrom testified Tuesday that the photo-sharing app was starved of resources after being acquired by Meta due to Meta CEO Mark Zuckerberg’s fear that its growth could cannibalize Facebook. “Mark was not investing in Instagram because he believed we were a threat to their growth,” Systrom said,…

Binance, the world’s largest cryptocurrency exchange, is now quietly helping multiple governments develop their own crypto regulations and digital asset reserve strategies, according to the Financial Times. The company’s efforts come as countries increasingly seek guidance on how to navigate the complex world of blockchain and digital currencies. Richard Teng, who became Binance’s…

OpenAI, the creator of ChatGPT, has shown interest in acquiring Google’s Chrome browser if antitrust regulators succeed in forcing Alphabet, Google’s parent company, to sell the popular web browser. The statement came from OpenAI’s head of product, Nick Turley, during his testimony at Google’s ongoing antitrust trial in Washington, D.C. on Tuesday.…