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Amazon's iRobot deal in EU antitrust crosshairs
  + stars: | 2023-07-06 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +2 min
BRUSSELS, July 6 (Reuters) - Amazon's (AMZN.O) $1.7 billion acquisition of robot vacuum cleaner maker iRobot (IRBT.O) may reduce competition and strengthen Amazon's position as online marketplace provider, EU antitrust regulators warned on Thursday. The European Commission opened a full-scale investigation and will decide by November 15 whether to clear or block the deal. The acquisition announced in August last year would add iRobot's Roomba robot vacuum to Amazon's portfolio of smart devices, which include the Alexa voice assistant, smart thermostats, security devices and wall-mounted smart displays. IRobot made its first Roomba robot vacuum in 2002. The EU competition enforcer's decision confirmed a Reuters story last month and came a month after the UK antitrust agency cleared the deal unconditionally after a preliminary review.
Persons: IRobot, Dow Jones, Foo Yun Chee, Benoit Van Overstraeten Organizations: European Commission, Amazon, Reuters, Antitrust, Big Tech, Dow, Thomson Locations: BRUSSELS
The European Commission said Thursday that it's opened a comprehensive and "in-depth" investigation into Amazon 's planned $1.7 billion acquisition of Roomba maker iRobot . The Commission, like its U.S. antitrust counterpart, has the power to block the proposed acquisition. "The Commission will now carry out an in-depth investigation into the effects of the proposed transaction to determine whether its initial competition concerns are confirmed," the statement said. Amazon announced the iRobot deal last year as part of an effort to expand its presence in the smart home. It's still under review by the U.S. Federal Trade Commission, which has requested information from iRobot multiple times on the deal, according to regulatory filings.
Persons: it's, Dyson, It's, Lina Khan Organizations: European Commission, Amazon, Markets Authority, U.S . Federal Trade Commission, Yale Law School, FTC, CNBC
June 29 (Reuters) - The U.S. antitrust regulator is planning to file a suit targeting Amazon.com's (AMZN.O) core online marketplace in the coming weeks, Bloomberg News reported on Thursday, citing documents and people familiar with the matter. The agency's antitrust case targeting Amazon's online marketplace has been in the works for a long time, according to the report. Amazon got the FTC notice for initial investigation in June 2019, Bloomberg reported, citing documents. Those documents included questions about how using Amazon's warehousing and delivery services impacted third-party sellers’ product placements in its online marketplace, including boxes on the website that give products additional prominence. The two companies had entered into a deal to sell Apple iPhones, iPads and other devices on Amazon's marketplace in 2018.
Persons: Lina Khan's, Joe Biden's, Chavi Mehta, Anil D'Silva, Pooja Desai Organizations: Bloomberg, U.S . Federal Trade Commission, Amazon, Big Tech, FTC, Apple Inc, Apple, Thomson Locations: Bengaluru
BRUSSELS, June 22 (Reuters) - Amazon's (AMZN.O) $1.7 billion acquisition of robot vacuum cleaner maker iRobot (IRBT.O) faces a full-scale EU antitrust investigation, people familiar with the matter said, weeks after the U.S. online retail giant won UK approval for the deal. IRobot made its first Roomba robot vacuum in 2002. IRobot shares fell about 10%, their largest percentage drop since February last year, while Amazon shares trimmed gains after the Reuters story was published. Amazon has previously said the vacuum cleaner market is very competitive, with lots of Chinese players. It blocked Microsoft's Activision deal while the Commission cleared the deal conditional on Microsoft's licensing deals with rival streaming platforms.
Persons: IRobot, Foo Yun Chee, Alison Williams, Kirsten Donovan, Jan Harvey Organizations: Amazon, European Commission, Activision, Antitrust, Big Tech, Thomson Locations: BRUSSELS
UK clears Amazon's $1.7 billion deal for Roomba-maker iRobot
  + stars: | 2023-06-16 | by ( ) www.reuters.com   time to read: +1 min
June 16 (Reuters) - Britain's competition regulator on Friday cleared Amazon.com Inc's (AMZN.O) planned $1.7 billion acquisition of iRobot Corp (IRBT.O), maker of the Roomba vacuum cleaner. The Competition and Markets Authority (CMA) said it had concluded that the deal would not lead to competition concerns in the UK. "We're pleased with the UK Competition and Markets Authority's decision and are committed to supporting regulatory bodies in their work," a spokesperson for Amazon said. The news sent shares in U.S-listed iRobot up 12% in pre-market trade, while Amazon's stock was marginally down. EU antitrust regulators will decide by July 6 whether to clear the deal, while the U.S. Federal Trade Commission is also examining the acquisition.
Persons: We're, Colin Angle, Eva Mathews, Devika Syamnath, Jason Neely Organizations: Amazon.com, iRobot Corp, Markets Authority, Competition, Amazon, CMA, Regulators, Big Tech, U.S . Federal Trade Commission, Thomson Locations: U.S, Bengaluru
SummarySummary Companies Futures up: Dow 0.01%, S&P 0.06%, Nasdaq 0.09%June 16 (Reuters) - U.S. stock index futures inched up on Friday as signs of easing price pressures and slowing economic growth raised hopes the Federal Reserve could end its monetary tightening campaign soon. ET, is expected to show the index rose to 60 in June from 59.2 in May. Meanwhile, a simultaneous expiration of stock options, stock index futures and index options contracts on Friday, known as triple witching, could cause a spike in market volatility. ET, Dow e-minis were up 5 points, or 0.01%, S&P 500 e-minis were up 2.75 points, or 0.06%, and Nasdaq 100 e-minis were up 14.5 points, or 0.09%. Reporting by Sruthi Shankar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Microsoft, Nvidia, University, Dow e, Adobe Inc, iRobot, Amazon.com, Thomson Locations: U.S, Bengaluru
Gains in megacap stocks including Nvidia and Microsoft set up the tech-heavy Nasdaq for its eighth consecutive week of gains, while the benchmark S&P 500 was set for its fifth straight week of rise. Trading, however, is expected to be volatile on Friday due to the simultaneous expiration of stock options, stock index futures and index options contracts, known as triple witching. ET, is expected to show the index rose to 60 in June from 59.2 in May. The S&P index recorded 19 new 52-week highs and no new lows, while the Nasdaq recorded 74 new highs and 10 new lows. Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Morgan Stanley, Mark Luschini, Janney Montgomery Scott, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: Nvidia, Adobe, Dow, Nasdaq, Microsoft, Trading, University of, Dow Jones, Adobe Inc, iRobot, NYSE, Thomson Locations: U.S, Bengaluru
iRobot — The stock surged 19% after U.K. regulators approved Amazon's $1.7 billion acquisition of the Roomba vacuum cleaner maker. Cava Group — Cava Group shares dropped 15% during trading Friday, giving back some of its gains from its massive debut Thursday on the New York Stock Exchange. SoFi Technologies — The financial technology stock dropped more than 8% after both Bank of America and Piper Sandler downgraded it to neutral from buy, citing SoFi's recent run higher. Micron Technology — Shares dipped 1.5% after Micron Technology said a China chip ban could hurt the company. Truist Financial — Shares fell 1.6% after Odeon Capital Group downgraded Truist Financial to hold from buy, according to FactSet.
Persons: Richard Branson, iRobot, Piper Sandler, Refinitiv, Morgan Stanley, Joseph Moore, — CNBC's Michelle Fox, Alex Harring, Yun Li Organizations: Virgin Galactic —, West Pharmaceutical Services, Bank of America, — Cava, New York Stock Exchange, Technologies, Adobe, Nvidia, Devices, Micron Technology, U.S . Securities, Exchange Commission, — Humana, Odeon Capital Locations: China
Amazon 's planned $1.7 billion acquisition of iRobot , the maker of Roomba vacuums, has been greenlit by Britain's competition watchdog. The Competition and Markets Authority said it determined the deal would not result in "a substantial lessening of competition" in the U.K. An Amazon spokesperson told CNBC in a statement: "We're pleased with the UK Competition and Markets Authority's decision and are committed to supporting regulatory bodies in their work. Amazon announced last year it would acquire iRobot for $1.7 billion, as part of a move to deepen its presence in the smart home. WATCH: Amazon's smart home dominance and how it could grow with iRobot acquisition
Persons: Roomba, We're Organizations: iRobot, Markets Authority, CMA, Amazon, CNBC, Competition, U.S . Federal Trade Commission, Union
Check out the companies making the biggest moves in premarket trading:Virgin Galactic — Shares soared nearly 45% in premarket trading, a day after the company said its first commercial space tourism flight is set for later this month. Adobe — The tech stock rallied nearly 5% following its earnings and revenue beat after the bell Thursday. SoFi Technologies — Shares dropped about 6% after being downgraded by Piper Sandler to neutral from buy. Cava Group — The newly debuted restaurant stock rose more than 4% in premarket trading on Friday, extending its massive gains from Thursday's session. DraftKings — Shares rose more than 1% after the online betting company made a $195 million offer for PointsBet's U.S. assets, outbidding Fanatics.
Persons: Piper Sandler, Oppenheimer, Cava, , Jesse Pound Organizations: Virgin Galactic —, Adobe, Markets, Micron Technologies, Bloomberg, Micron, DraftKings, PointsBet's U.S Locations: India
Microsoft executive calls for faster AI regulation
  + stars: | 2023-05-28 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +3 min
Smith also said AI isn’t as “mysterious” as many think, adding it is getting more powerful. Regarding concerns about AI’s power, Smith said any technology that exists today looked dangerous to people who lived before it. Job disruptions due to AI will unfold over years, not months, Smith said. “For most of us, the way we work will change,” Smith said. “Let’s use six months to go faster.”Smith suggested an executive order where the government itself says it will only buy AI services from companies that are implementing AI safety protocols.
London-based Seaweed Generation is one such startup dedicated to seaweed sequestration. She's part of a wave of new "blue economy" entrepreneurs taking advantage of seaweed for carbon removal. Seaweed GenerationThe seaweed RoombaEstridge's Seaweed Generation has developed a robot that she described as a "Roomba meets Pac-Man." Seaweed Generation will work in waters with around 4,000 meters of depth and no upwelling current, which could bring sargassum back to the surface. Seaweed Generation has a planned pilot with the government of Antigua, which is invested in protecting its tourism industry.
Amazon’s Roomba Deal Keeps Getting Messier
  + stars: | 2023-04-13 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
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March 21 (Reuters) - The U.S. International Trade Commission said on Tuesday it would ban imports of SharkNinja Operating LLC robot vacuums that infringe a patent owned by Roomba maker iRobot Corp (IRBT.O). The full commission upheld part of a trade judge's October decision that SharkNinja violated two of its rival's patents, affirming that SharkNinja's devices mimicked iRobot navigation technology. Bedford, Massachusetts-based iRobot filed the ITC complaint in 2021 along with a lawsuit against SharkNinja in Boston federal court. Another patent lawsuit iRobot brought against SharkNinja in 2019 has also been paused during related proceedings at the U.S. Patent and Trademark Office. The ITC case is In the Matter of Certain Robotic Floor Cleaning Devices and Components Thereof, U.S. International Trade Commission, No.
WASHINGTON, Feb 21 (Reuters) - The U.S. Federal Trade Commission will not file a complaint aimed at stopping Amazon.com's (AMZN.O) plan to buy primary care provider One Medical, an FTC official said on Tuesday. Amazon.com Inc said in July it would buy One Medical for $3.49 billion, expanding the e-commerce giant's virtual healthcare business and adding brick-and-mortar doctors' offices for the first time. The FTC official said that the agency planned to send a pre-consummation warning letter that would say it still had specific concerns about the deal. One Medical is in more than a dozen U.S. markets and gives members access to virtual care at any time of the day or night. The FTC is also probing Amazon.com's plan to buy Roomba maker iRobot Corp (IRBT.O) for $1.7 billion.
Amazon delivers a regulatory breather to Big Tech
  + stars: | 2023-02-22 | by ( ) www.reuters.com   time to read: +2 min
The U.S. Federal Trade Commission said it won’t challenge Amazon.com’s (AMZN.O) $3.9 billion acquisition of physician network One Medical. As the deal moves forward, deal-hungry technology giants can take a small breather. One Medical’s revenue accounted for just 0.2% of all U.S. healthcare spending in 2021, according to Amazon. And while the FTC’s concerns about Big Tech seemed limitless, its resources aren’t. Letting the One Medical deal move forward frees up staff to focus on ones that pose a clearer threat to consumers.
Roomba maker iRobot to lay off about 7% of its workforce
  + stars: | 2023-02-13 | by ( Annie Palmer | ) www.cnbc.com   time to read: +1 min
Roomba maker iRobot on Monday announced plans to cut around 7% of its workforce. The cuts will affect roughly 85 employees, iRobot said in its fourth-quarter earnings report. For the fourth quarter, the company lost $84.1 million on $357.9 million in revenue. Amazon laid off roughly 18,000 corporate staffers, while Meta , Google , Salesforce and others have announced significant job cuts. iRobot will take a $4 million impairment charge as a result of the layoffs.
Within weeks of taking over, he dramatically transformed Twitter's company culture and started major projects — seemingly with one foot already out the door. Although a successful future for any technology is not guaranteed, ChatGPT feels like a tipping point for generative AI. Roomba, an automatic vacuum cleaner, took multiple sensitive photos that were shared on social media. After short-video apps like TikTok became the dominant platforms for fans to listen to new songs in 2022, music-industry execs are now setting their sights on social media as the next big money-making opportunity. Here are 15 power players using social media to shape the music industry.
Robot vacuum maker iRobot confirmed that sensitive images leaked online were taken by its devices. Roomba said the images, including one of a woman on the toilet, were taken only by test units. The images were leaked by Venezuelan contractors who worked with iRobot, MIT Tech Review reported. But images from that data got leaked to Facebook, Discord and other social sites, MIT Tech Review reported and iRobot confirmed to Insider. Experts who have spoken to labelers told MIT Tech Review that they found the work "really uncomfortable."
If you’re planning to invest in a new Roomba or gift one to someone else, retailers like Amazon, Target, Best Buy and Walmart are offering notable discounts. SKIP AHEAD Best Cyber Monday 2022 Roomba deals | Best Cyber Monday 2022 Roomba salesWe compiled some of the best Cyber Monday deals and sales on Roombas that we think you’ll want to know about to help you make the most of your shopping. Best Cyber Monday 2022 Roomba dealsBelow, we’re sharing the best Cyber Monday Roomba robotic vacuum deals based on our previous coverage and reporting. Best Cyber Monday 2022 iRobot Roomba salesHere are the best Cyber Monday Roomba sales that we think you’ll want to know about. Target: Up to $400 off iRobot Roombas Walmart: Up to $300 off iRobot Roombas Kohl’s: Up to $250 off iRobot Roombas Bed Bath and Beyond: Up to $200 off iRobot RoombasWhen is Cyber Monday 2022?
SKIP AHEAD Best deals at Amazon | Best deals at Walmart | Best deals at Target | Best deals at Best Buy | Best Cyber Monday sales across categoriesTo help you make the most of the shopping holiday, Select compiled some of the best Cyber Monday deals and sales we think you’ll want to know about. Best Cyber Monday 2022 deals across retailersBelow, we’re sharing the best Cyber Monday deals based on our previous coverage and reporting. 4.7-star average rating from 73,237 reviews at TargetOral-B’s Pro 1000 electric toothbrush is one of the best models you can buy. 4.7-star average rating from 10,600 on AmazonThis cookware set comes with 8-inch and 10-inch nonstick fry pans. Best Cyber Monday 2022 sales across retailersHere are the best Cyber Monday sales we think you’ll want to know about.
SKIP AHEAD Cyber Monday vacuum deals | Cyber Monday vacuum salesTo help you make the most of your shopping, we compiled some of the best Cyber Monday deals and sales on vacuums that we think you’ll want to know about. Best Cyber Monday 2022 vacuum dealsBelow, we’re sharing the best Cyber Monday vacuum deals based on our previous coverage and reporting. 4.5-star average rating from 2,685 reviews at Best BuyThe Roomba i7+ has a Smart Mapping function you can use to control where it cleans and when. The vacuum self-empties into its base, which can hold up to 60 days’ worth of dirt and debris, Shark says. Best Cyber Monday 2022 Vacuum salesHere are the best Cyber Monday vacuum sales that we think you’ll want to know about.
Best Buy says that items bought from Oct. 24 through Dec. 31 will have an extended return period through Jan. 14, 2023, with exceptions on certain products. Best Buy does offer a Price Match Guarantee, with more specifics available on the retailer’s website. SKIP AHEAD Best sales from the Best Buy Black Friday sale | Best deals from the Best Buy Black Friday saleIf you’re looking to take advantage of ongoing Cyber Monday deals, we have compiled some of the best deals and sales Best Buy is offering during its Cyber Monday sales, based on previous coverage and Select reader interest. Best sales from the Best Buy Cyber Monday saleWe’re highlighting some of the best sales we think Select readers will want to know about. Best products to consider from the Best Buy Cyber Monday saleBased on our previous coverage and Select reader interest, we rounded up some of the best deals from Best Buy's Cyber Monday sale, using Honey and CamelCamelCamel to ensure their discounts are at historical lows.
SKIP AHEAD Best deals at Amazon | Best deals at Walmart | Best deals at Target | Best deals at Best Buy | Best Cyber Monday sales across categoriesTo help you make the most of the shopping holiday, Select compiled some of the best Cyber Monday deals and sales we think you’ll want to know about. Best Cyber Monday 2022 deals across retailersBelow, we’re sharing the best Cyber Monday deals based on our previous coverage and reporting. 4.7-star average rating from 73,237 reviews at TargetOral-B’s Pro 1000 electric toothbrush is one of the best models you can buy. 4.7-star average rating from 10,600 on AmazonThis cookware set comes with 8-inch and 10-inch nonstick fry pans. Best Cyber Monday 2022 sales across retailersHere are the best Cyber Monday sales we think you’ll want to know about.
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