A major legal battle is brewing in the UK, with Google facing a class action that could cost the tech giant up to £5 billion, according to a report by Reuters. The lawsuit, filed at the Competition Appeal Tribunal on Tuesday, accuses Google of using its dominant position in the online search market to drive up advertising prices and shut out competitors.
The Monetary Authority of Singapore (MAS) has just released its latest enforcement report, giving us a look behind the scenes at its efforts to keep Singapore’s financial markets clean and fair. From tackling market manipulation to holding institutions accountable for lapses in anti-money laundering practices, the authority’s recent actions highlight its unwavering commitment to maintaining trust in Singapore’s robust financial system.
The Japan Fair Trade Commission (JFTC) has issued a cease and desist order against Google LLC, accusing the tech giant of engaging in unfair practices related to Android smartphone distribution. The JFTC’s action comes after a year-long investigation into Google’s dealings with phone manufacturers and telecom companies, alleging violations of Japan’s Antimonopoly Act.
Clorox Australia has recently been hit with an AUD $8.25 million ($5.2 million USD) penalty for making false statements about the composition of its GLAD products. The Federal Court’s ruling marks the end of a legal battle that began after the Australian Competition and Consumer Commission (ACCC) uncovered misleading claims about GLAD Kitchen Tidy Bags and Garbage Bags being made from recycled ‘ocean plastic.’
The Bundeskartellamt, the country’s competition watchdog, has raised serious concerns over Vodafone and its subsidiary Vantage Towers for allegedly obstructing 1&1’s attempt to enter the market as a fourth mobile operator. The issue revolves around significant delays in providing antenna sites to 1&1—delays that, according to the Bundeskartellamt’s preliminary findings, are having a severe impact on 1&1’s ability to compete.
Jemena, a player in Australia’s energy sector, and its four subsidiaries have been ordered to pay a $5.5 million penalty following their breach of the National Gas Rules, as determined by an Australian Federal Court. The breaches, which occurred between March 1, 2019, and February 22, 2022, involved failing to properly calculate Auction Quantity Limits (AQLs) as part of the Day Ahead Auction (DAA) process, a critical mechanism for allocating pipeline capacity in Australia.
The New York Department of Financial Services (NYDFS) has reached a $40 million settlement with Block, Inc., the parent company of Cash App, following an investigation into significant failures in its anti-money laundering (AML) program and virtual currency compliance. The settlement is a response to gaps in Block’s compliance measures, including inadequate customer identification procedures and poor transaction monitoring that exposed the company to greater money-laundering risks.