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India's antitrust body in October fined Google $275 million in two cases, which involved abusing its dominant position in the Android operating system market, and pushing developers to use its in-app payment system. "The ministry has to take action," Chandrasekhar said. India's competition watchdog has begun another inquiry into Google after Tinder owner Match Group (MTCH.O) and many startups alleged that a new service fee system Google uses for in-app payments breaches the competition commission's October decision. Google has previously said the service fee supports investments in the Google Play app store and the Android mobile operating system, ensuring it can distribute it for free. About 97% of India's 620 million smartphones run on Android, and the company counts India as a critical growth market.

☆ Mediobanca dips toe into tech M&A shark tank
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

Mediobanca (MDBI.MI), the 8.5-billion-euro financial group run by veteran CEO Alberto Nagel, said on Thursday it had agreed to buy London-based Arma Partners, an advisory boutique that specializes in technology deals. With revenue in excess of $100 million, or about 90 million euros, Arma should add more than 10% to Mediobanca’s annual net fees and commission of 850 million euros. The French boutique’s contribution, although a record, stood at 63 million euros in the financial year that ended in June 2022. Buying Arma allows Mediobanca to gain expertise in growing areas like cloud services, software and cybersecurity, which are outside the Italian bank’s core strengths. Star banker Erik Maris left Mediobanca a year after Nagel clinched the purchase of a 66% stake in the boutique.

☆ Cash App founder Bob Lee's accused killer Nima Momeni just pleaded not guilty
▼ + stars: | 2023-05-18 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Nima Momeni pleaded not guilty to charges that he murdered Cash App founder Bob Lee, the San Francisco Chronicle reported. San Francisco prosecutors had charged Momeni after his arrest last month in Emeryville, California. Tech consultant Nima Momeni pleaded not guilty on Thursday to San Francisco prosecutors' charge of murder in the killing of Cash App founder Bob Lee last month in downtown San Francisco. Momeni entered the plea at an arraignment in San Francisco state court, according to a report by the San Francisco Chronicle. They alleged at the time that Momeni grilled Lee about Momeni's sister socializing with Lee.

He said Khan had 24 hours to surrender the suspects, and that a police operation would be launched if he did not comply. The arrest of the former prime minister, who was ousted in a parliamentary confidence vote in April last year, has deepened political instability in the South Asian nation of 220 million. Thousands of Khan supporters had attacked and set on fire scores of government and public buildings, including the army's headquarters, following his arrest. Khan has previously disowned those involved in arson and attacks against the army, demanding an impartial inquiry. The military has said the May 9 attacks against the army were "pre-planned" and ordered by Khan party's leaders, which he and his party deny.

☆ U.S. Sues to Block Amgen’s $27.8 Billion Takeover of Horizon Therapeutics
▼ + stars: | 2023-05-16 | by ( Rebecca Robbins | ) www.nytimes.com time to read: +1 min

The Federal Trade Commission on Tuesday sued to block the drug maker Amgen’s $27.8 billion acquisition of the pharmaceutical company Horizon Therapeutics, saying it would thwart competition in the drug industry. said the deal would allow Amgen to use its large portfolio of top-selling drugs to pressure insurers and others to favor two Horizon medications that lack competition. The commission’s move is its most aggressive yet after years of signaling that it would be tougher in scrutinizing pharmaceutical mergers. This case is unusual because Amgen and Horizon do not sell competing products. won’t hesitate to challenge mergers that enable pharmaceutical conglomerates to entrench their monopolies at the expense of consumers and fair competition.”

[1/3] Firefighters try to douse a bus that caught fire during clashes with the supporters of Pakistan's former Prime Minister Imran Khan in Islamabad, Pakistan, May 12, 2023. The decision was taken at a meeting of the National Security Committee chaired by Prime Minister Shehbaz Sharif. It is an endorsement of the military, which said on Monday that the rioters and their handlers had been identified, and would be tried under army laws. "The meeting endorsed to bring the miscreants, the planners who incited for violence and their facilitators to dock by trying them under constitutional provisions of concerned laws, including Pakistan Army Act and Official Secrets Act," said a statement issued by Sharif's office. The Human Rights Commission of Pakistan (HRCP), an independent civil rights group, said it strongly opposes the use of those two laws to try civilians.

☆ Factbox: Preliminary results of Thailand's election
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +2 min

[1/4] Move Forward Party leader and prime ministerial candidate, Pita Limjaroenrat, meets with the media members on the day of the general election in Bangkok, Thailand, May 14, 2023. REUTERS/Jorge SilvaBANGKOK, May 14 (Reuters) - Thailand's opposition parties Move Forward and Pheu Thai won the most seats in Sunday's election, paving the way for a challenge to the military-backed government, which has been in power for nearly a decade. Parliamentary seats are distributed based on 400 open constituency seats and 100 'party-list' seats - or seats won by parties based on their share of national votes. Below are preliminary results of Sunday's ballot, according to the Election Commission of Thailand, with 97% of the vote counted. The tabulation of party-list seats is based on a Reuters tally of voting data made available by the election commission.

☆ Thai election: Opposition parties deliver surprise challenge to military leaders
▼ + stars: | 2023-05-14 | by ( Kocha Olarn | ) edition.cnn.com time to read: +3 min

Bangkok, Thailand CNN —Thai voters have dealt a surprise blow to the ruling military-backed government in the country’s general election, throwing their support behind progressive anti-establishment parties that could change the course of the kingdom’s politics after years of military rule. Before counting paused, the Bhumjai Thai party was in third position, projected to win around 70 seats, while Prime Minister Prayut Chan-o-cha’s party potentially would grab about 12 seats. Thai Prime Minister and United Thai Nation Party's candidate Prayut Chan-o-Cha leaves after casting his ballot at a polling station in Bangkok on May 14, 2023. Lillian Suwanrumpha/AFP/Getty ImagesPrayut’s rise from military coup leader to prime minister has been marred with controversy, growing authoritarianism and widening inequality. It’s the party of the billionaire Shinawatra family – a controversial political dynasty headed by former Prime Minister Thaksin Shinawatra.

☆ India starts inquiry into Google app payments antitrust compliance
▼ + stars: | 2023-05-12 | by ( Aditya Kalra | ) www.reuters.com time to read: +2 min

Tinder-owner Match Group (MTCH.O) and Indian startups have asked the watchdog to investigate Google's (GOOGL.O) new User Choice Billing (UCB) system, which they alleged was anti-competitive. The Competition Commission of India (CCI) on Friday issued an order stating "it is of the opinion that an inquiry needs to be made." The order is not public and Google did not immediately respond to a request for comment. Google later began offering UCB to allow alternative payments alongside Google's when purchasing in-app digital content, but some companies complained the new system still imposes a high "service fee" of 11%-26%. Google has previously said the service fee supports investments in the Google Play app store and the Android mobile operating system, ensuring it distributes it for free, and covers developer tools and analytic services.

☆ EU antitrust regulators extend decision on Broadcom, VMware deal to June 26
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, May 12 (Reuters) - EU antitrust regulators extended on Friday their deadline for a decision on U.S. chipmaker Broadcom's (AVGO.O) proposed $61 billion bid for cloud computing firm VMware (VMW.N) by three days to June 26. The deadline was extended in agreement with the companies, a European Commission spokesperson said. Broadcom Chief Executive Hock Tan last week sought to convince the European Commission of the merits of the deal at a closed hearing. The company is expected to offer remedies in the coming days. Reporting by Foo Yun Chee, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Rome/London CNN —Italy’s government convened crisis talks Thursday to investigate the reasons behind a surge in prices for pasta, one of the country’s most beloved and culturally important foods. Pasta inflation moderated a bit in April but prices were still up 16.5% over 12 months. Pasta prices have soared despite the price of wheat — the main ingredient — falling in recent months. The price of durum wheat — a type of wheat popular among Italian pasta-makers — has fallen 30% since May 2022. Making pasta only requires mixing water with the wheat, the group said, giving “little justification” for the huge increase in retail prices.

Khan's colleagues in his Pakistan Tehreek-e-Insaf (PTI) party did not immediately respond to a request for comment on his indictment. Mobile data services were shut for a second day on Wednesday as street protests continued, with federal ministers accusing Khan's supporters of torching several buildings and vehicles. MORE THAN 1,000 ARRESTS[1/8] Supporters of Pakistan's former Prime Minister Imran Khan throw stones towards police during a protest against Khan's arrest, in Peshawar, Pakistan, May 10, 2023. Khan, a cricket hero-turned-politician, was ousted as prime minister in April 2022 in a parliamentary no-confidence vote. In most of the cases, Khan faces being barred from holding public office if convicted.

☆ Fact Check-UN is not calling for decriminalization of sex with children
▼ + stars: | 2023-05-09 | by ( Reuters Fact Check | ) www.reuters.com time to read: +7 min

It does not advocate for adult sex with children or with other vulnerable individuals, independent legal experts told Reuters. “The 8 March Principles do not call for the decriminalization of sex with children, nor do they call for the abolition of a domestically prescribed minimum age of consent to sex,” the statement reads in part. The ICJ report “did not call for the decriminalization of sex with children, nor did it call for the abolition of the age of consent,” Dujarric said. “The International Commission of Jurists report set out legal principles to guide the application of the international human rights law to criminal law across a range of issues. The report does not call for the overall decriminalization of sex with children, as claimed online.

May 9 (Reuters) - Pakistan's anti-graft watchdog arrested former Prime Minister Imran Khan at Islamabad High Court on Tuesday, in a dramatic move that threatens fresh turmoil in the nuclear-armed country. You won't get any other opportunity," the Pakistan Tehreek-e-Insaf (PTI) party wrote on Twitter. In most of the cases, Khan faces being barred from holding public office if convicted, with a national election scheduled for November. Previous attempts to arrest Khan from his Lahore home resulted in heavy clashes between his supporters and law enforcement personnel. Political infighting is common in Pakistan, where no prime minister has yet fulfilled a full term and where the military has ruled for nearly half of the country's history.

☆ Uber rival Bolt seeks to turn profitable next year, IPO in 2025
▼ + stars: | 2023-05-08 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +3 min

STOCKHOLM, May 8 (Reuters) - Estonian ride-hailing and food delivery startup Bolt expects to turn profitable in the next 12 months and be ready for an initial public offering in 2025, its Chief Executive Officer Markus Villig said in an interview. The company, a rival of Uber (UBER.N), was valued at over $8 billion when it raised 628 million euros from investors in January last year. "We expect to be the first European mobility platform that will be fully profitable over the next 12 months," said Villig, who doesn't have a driving license. Bolt, run by 29-year-old Villig, does not plan to raise external capital through another funding round but will get ready for an IPO instead. It also expects its grocery business to break even or turn profitable in two or three years.

☆ Thai election agency criticised after snags in early voting
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +2 min

BANGKOK, May 8 (Reuters) - Thailand's election commission came under scrutiny on Monday after what a monitoring group said were widespread complaints in early voting, fuelling concern on social media about the competence of a body appointed under military rule. The Election Commission of Thailand (ECT) said it had received 92 complaints and investigations were going on. "They don't understand the system so they only do what they understand," Yingcheep said, adding many complaints were over the same issues. The hashtag "why do we have an election commission?" The commission at the time denied wrongdoing and said it needed time to allow recounts, disqualifications and by-elections.

☆ Broadcom seeks to convince EU antitrust regulators on $61 bln VMware deal
▼ + stars: | 2023-05-05 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] 3D printed clouds and figurines are seen in front of the VMware cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/IllustrationBRUSSELS, May 5 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) on Friday will try to convince EU antitrust enforcers that its proposed $61 billion bid for cloud computing company VMware (VMW.N), which has triggered regulatory scrutiny on both sides of the Atlantic, is pro-competitive. Broadcom's request for the hearing came after the Commission last month warned the deal may restrict competition in the market for certain hardware components which interoperate with VMware's software. Broadcom is expected to offer remedies in the coming days after the oral hearing. The EU deadline for a decision is June 21 which will be extended once concessions are submitted.

☆ Chile's voters set to take big step in constitution redraft 2.0
▼ + stars: | 2023-05-05 | by ( Natalia A. Ramos Miranda | ) www.reuters.com time to read: +3 min

REUTERS/Rodrigo GarridoSANTIAGO, May 5 (Reuters) - Chileans will vote to elect 50 constitutional advisers on Sunday, a major step towards rewriting the constitution, after voters overwhelmingly rejected a first attempt in a plebiscite last September to replace the dictatorship-era charter. The so-called Constitutional Council that voters are set to elect will work as of June on the new constitution, based on a preliminary draft prepared by a commission of 24 experts that Congress appointed in March. "I voted to approve (in September), I wanted a new constitution and to get rid of the dictatorship's constitution, but now I'm not really interested." He stressed that traditional political forces are now more in control of the process, unlike the failed first attempt. It seems "likely that no single bloc or party will win enough seats to independently steer the process without compromise," Watson said.

☆ Inside a Kenyan starvation cult and its tragic end in a forest of death
▼ + stars: | 2023-05-04 | by ( Duncan Miriri | ) www.reuters.com time to read: +8 min

Mackenzie, 50, is in police custody and has yet to be required to enter a plea to any charge related to the mass graves, which are still being exhumed. HUNDREDS STILL MISSINGThe death toll stands at 109 so far, with 101 found in mass graves and eight people found alive who later died. On April 13, police acting on a tip-off returned to the forest and found 15 emaciated people lying in the forest, according to police who said four of them were so weak they died before reaching hospital. On April 21, they began exhuming mass graves. Charo said he was horrified last month when he learned about the mass graves found in the forest.

Eight cult members who were found emaciated in the forest died later. Mackenzie has been in police custody since April 14 alongside 14 other suspected cult members. Two showed signs of asphyxiation, he added. Children account for most of the bodies recovered so far, Interior Minister Kithure Kindiki said on Friday. On Sunday, President William Ruto said he would appoint a judicial commission of inquiry this week to probe what happened in Shakahola.

Authorities have recovered 101 bodies from shallow graves since April 21, while eight cult members were found alive but died later. Cult leader Paul Mackenzie has been in police custody since April 14, held alongside 14 other cult members. Children account for most of the bodies recovered so far, Interior Minister Kithure Kindiki said on Friday. Kindiki said the autopsies will look at all possibilities, including whether or not some bodies had missing organs. Oduor said the government was collecting DNA samples from those who had reported missing relatives and would do the matching in a process that would take at least a month.

☆ Syrian refugees deported from Lebanon face arrest, conscription, say relatives
▼ + stars: | 2023-05-01 | by ( Maya Gebeily | ) www.reuters.com time to read: +5 min

[1/5] Youssef, a Syrian refugee and single father of two girls, attends an interview with Reuters, in Beirut, Lebanon April 26, 2023. One refugee told Reuters he and his three brothers were detained in a raid on a camp in Lebanon in late April. Another refugee said he was briefly held by the Fourth Division after being deported but paid smugglers to return to Lebanon. The Access Center for Human Rights (ACHR), a rights organisation, said it had documented the detention of at least two deported Syrians by the Fourth Division. Youssef, a Syrian refugee and single father-of-two, said he was so afraid of being deported and conscripted that he had stopped leaving his home in Lebanon.

☆ China may have to bail out one of its poorest provinces
▼ + stars: | 2023-04-27 | by ( Laura He | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —One of China’s poorest and most indebted provinces has admitted defeat in trying to sort out its finances and is appealing to Beijing for help to avert default. Guizhou, located in a mountainous region of southwest China, has hired a top state-owned distressed debt fund, China Cinda Asset Management, to resolve its “urgent” problems. China’s local governments are struggling with trillions of dollars of debt, after three years of strict pandemic controls and a real estate crash drained their coffers. The Pingtang Bridge links two cities in southwest China's Guizhou province. In China, most local government liabilities are composed of “hidden debt” issued by their financing arms.

☆ No 'immediate path forward': CFTC is talking to Binance after launching legal action, official says
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

A Commodity Futures Trading Commission official said Tuesday that she hopes to find a "path forward" in the regulator's legal battle with crypto exchange Binance, noting that no decision has been taken yet on whether to settle the case or take it to court. Kristin N. Johnson, commissioner at the CFTC, said that the regulator has been in conversations with Binance to address its concerns about the company's conduct. And I want to say that typically, in the context of any litigation, we are always ready to have conversations and typically even ahead of the litigation," Johnson said in an interview with CNBC's Arjun Kharpal Tuesday. "As of the moment, we can conclude that there is not an immediate path forward," she added. Her comments mark a rare statement on the Binance suit to media since the CFTC first announced it was suing the company on Mar.

Saatcioglu, the coordinator of Limak International Hotels & Resorts, is one of many in hospitality expecting to see Turkey's economically vital tourism sector recover from a quake that dragged down bookings and hotel stays. The quake has caused tourists to think twice before booking a trip to Turkey, a major Mediterranean holiday destination. "After months of excellent performance, when the country was leading the travel recovery in Europe (after the COVID pandemic), international tourism to Turkey is clearly taking a nosedive," he told Reuters. Despite strong bookings recently across the travel sector in Europe as a whole, Turkey has not been able to regain momentum. On the back of these auspicious March figures, the Turkish government expects to generate $56 billion in tourism revenues this year.

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