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☆ Exclusive: UBS set to gain EU nod for Credit Suisse deal, sources say
▼ + stars: | 2023-05-16 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 16 (Reuters) - UBS (UBSG.S) is expected to secure unconditional European Union antitrust approval for its planned takeover of struggling Credit Suisse (CSGN.S), people familiar with the matter said on Tuesday, putting the Swiss bank closer to completing the deal. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.4 billion) in stock and to assume up to 5 billion francs in losses in March, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The European Commission, which is scheduled to finish its preliminary review of the deal by June 7, and Credit Suisse declined to comment. UBS, which is twice as big as Credit Suisse by assets, did not immediately respond to a request for comment. Both UBS and Credit Suisse are in a group of the 30 global systematically important banks watched closely by regulators, and Credit Suisse's failure would ripple throughout the entire financial system.

☆ Microsoft wins EU antitrust approval for Activision deal vetoed by UK
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +4 min

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. Microsoft has in recent months signed licensing deals with Nvidia (NVDA.O), Nintendo (7974.T), Ukraine's Boosteroid and Japan's Ubitus to bring Activision games to their platforms should the deal go through. "The European Commission has required Microsoft to license popular Activision Blizzard games automatically to competing cloud gaming services. CLOUD GAMING MARKET GROWTHVestager said the Commission had a different view from UK regulators of how the game streaming market, which accounted for just 1% of the total market last year, would develop. "Microsoft and Activision’s lawyers will also use the decision to provide greater ballast to their appeal of the CMA's decision."

☆ Microsoft wins EU antitrust nod for Activision deal, after UK veto
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 15 (Reuters) - Microsoft has won EU antitrust approval for its $69 billion Activision takeover, which was vetoed by Britain, after regulators said its offer of free 10-year licensing deals to gamers and cloud streaming rivals addressed their concerns. The European Commission said on Monday that the biggest-ever deal in gaming was pro-competitive due to Microsoft's (MSFT.O) licensing deals, confirming a Reuters report in March. Such licenses are "practical and effective", European Union antitrust chief Margrethe Vestager told reporters. "Actually they significantly improve the condition for cloud game streaming compared to the present situation, which is why we actually consider them pro-competitive," she added. The EU watchdog said Microsoft has offered 10-year free licensing deals to European consumers and cloud game streaming services for Activision's (ATVI.O) PC and console games.

☆ Alphabet CEO to meet EU industry chief Breton, EU deputy chief May 24
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, May 12 (Reuters) - Alphabet (GOOGL.O) Chief Executive Officer Sundar Pichai will meet European Commission deputy chief Vera Jourova and EU industry chief Thierry Breton in Brussels on May 24, according to the European Commission's agenda on Friday. Breton is in charge of digital rules that will require Alphabet's Google and other tech giants to allow business users to access data generated on its platform, among other obligations. A list of don'ts include a ban on treating their services and products more favourably than rivals. Another set of new EU tech rules requires Google and other tech giants to do more to tackle illegal online content on their platforms. Reporting by Foo Yun Chee, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ EU decision clearing $69 billion Microsoft, Activision deal expected May 15, sources say
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] Activision games "Call of Duty" are pictured in a store in the Manhattan borough of New York City, New York, U.S., January 18, 2022. REUTERS/Carlo AllegriBRUSSELS, May 10 (Reuters) - EU antitrust regulators are set to approve Microsoft Corp's (MSFT.O) $69 billion acquisition of Activision (ATVI.O) next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission's imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever deal in gaming, over concerns it would hinder competition in cloud gaming. U.S. distributor Valve Corp, owner of the world's largest video game distribution platform, Steam, declined a contract saying it trusts Microsoft. (This story has been corrected to say that Valve does not have a licensing deal with Microsoft in paragraph 4)Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

BRUSSELS, May 10 (Reuters) - Lufthansa (LHAG.DE) suffered a setback on Wednesday after Europe's second-highest court sided with Ryanair (RYA.I) and annulled a European Union competition regulator's decision clearing its state bailout. The court also ruled in Ryanair's favour on Wednesday against pandemic state aid measures for SAS (SAS.ST), saying recapitalisation measures did not include sufficient measures to incentivise the Swedish and Danish governments to exit quickly. "We have seen the ruling by the General Court in the EU and will now review the content of the ruling as well as possible ways to proceed. Lufthansa and several other European airlines received state aid following a protracted travel slump due to the COVID-19 pandemic, all of which were approved by the EU executive subject to conditions. The Commission can appeal to the Court of the Justice of the European Union, Europe's highest, on points of law.

☆ EU's Vestager says 'all options on the table' after Lufthansa/SAS rulings
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

The court sided with Ryanair (RYA.I) in annulling the EU's decision clearing the German government's 6-billion-euro ($6.6 billion) rescue package for Lufthansa. EU Competition Commissioner Margrethe Vestager said she was analysing the rulings as a matter of urgency, aware of the uncertainty on the market. "While it is too early to give any indication as to what the appropriate course of action may be, at this stage all options are on the table," Vestager said in a statement. "There is no immediate and direct link between today's judgments and the ongoing work on the future restructuring of SAS." Reporting by Foo Yun Chee, Writing by Gabriela Baczynska, Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ EU antitrust regulators seeking more info on Apple Pay
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 10 (Reuters) - EU antitrust regulators are seeking more information on Apple's (AAPL.O) mobile payment system, the European Commission said on Wednesday, a sign that the enforcer is looking to close any loopholes and boost its case against the iPhone maker. The EU competition watchdog last year accused Apple of restricting rivals' access to its tap-and-go technology, Near-Field Communication (NFC), used for mobile wallets, making it difficult for them to develop rival services on Apple devices. Norwegian mobile payment app and complainant Vipps said, however, that alternatives to NFC are cumbersome and not competitive. The commission's request for information to rivals and retailers is unusual as it comes three months after Apple defended itself at a Feb. 14 hearing. The regulator, which can fine Apple up to 10% of its global turnover if found guilty of breaching antitrust rules, typically issues decisions after such hearings.

☆ Ryanair wins court challenge against Lufthansa state bailout
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, May 10 (Reuters) - Irish airline Ryanair (RYA.I) on Wednesday won its challenge against Lufthansa's (LHAG.DE) state bailout in 2020 triggered by the coronavirus pandemic as Europe's second-top court cited errors in EU competition regulators' decision to approve the state aid. Ryanair and German peer Condor subsequently challenged the EU decision on Lufthansa. They said the EU competition enforcer also failed to require a mechanism incentivising Lufthansa to buy back Germany’s shareholding as quickly as possible and erred by denying that Lufthansa held significant market power at certain airports. The Commission can appeal to the Court of the Justice of the European Union, Europe's top, on points of law. The joined cases are T-34/21 Ryanair v Commission (Lufthansa; Covid-19) & T-87/21 Condor Flugdienst v Commission (Lufthansa; Covid-19).

☆ EU decision clearing $69 bln Microsoft, Activision deal expected May 15, sources say
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 10 (Reuters) - EU antitrust regulators are set to approve Microsoft Corp's (MSFT.O) $69 billion acquisition of Activision (ATVI.O) next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission's imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever deal in gaming, over concerns it would hinder competition in cloud gaming. The Commission, which has set a May 22 deadline for its decision, declined to comment. Japan approved the takeover in March while the U.S. Federal Trade Commission is also seeking to block it. Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ EU draft rules propose tougher cybersecurity labelling rules for Amazon, Google, Microsoft
▼ + stars: | 2023-05-09 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

BRUSSELS, May 9 (Reuters) - Amazon (AMZN.O), Alphabet's (GOOGL.O) Google, Microsoft (MSFT.O) and other non-European Union cloud service providers looking to secure an EU cybersecurity label to handle sensitive data can only do so via a joint venture with an EU-based company, according to an EU draft document seen by Reuters. The document adds the cloud service must be operated and maintained from the EU, and all cloud service customer data stored and processed in the EU and that EU laws take precedence over non-EU laws regarding the cloud service provider. The latest draft proposal from EU cybersecurity agency ENISA concerns an EU certification scheme (EUCS) that would vouch for the cybersecurity of cloud services and determine how governments and companies in the bloc select a vendor for their business. The latest draft could fragment the EU single market as each country has full discretion to impose the requirements whenever it sees fit, an industry source said. EU countries will review the draft later this month after which the European Commission will adopt a final scheme.

☆ Siemens, SAP say EU draft Data Act puts trade secrets at risk
▼ + stars: | 2023-05-07 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

[1/2] A sign with the logo of Siemens company is on display outside its office in Moscow, Russia, May 12, 2022. REUTERS/Evgenia NovozheninaBRUSSELS, May 8 (Reuters) - German business software maker SAP (SAPG.DE) and German engineering company Siemens (SIEGn.DE) have joined U.S. tech giants in criticising draft EU laws on the use of data generated by smart gadgets and other consumer goods. EU countries and EU lawmakers are working on the details of the Data Act, proposed by the European Commission last year before it can be adopted as legislation. U.S. criticisms have included that the proposed law is too restrictive, while the German companies say a provision forcing companies to share data with third parties to provide aftermarket or other data-driven services could endanger trade secrets. "Effectively, this could mean that EU companies will have to disclose data to third-country competitors, notably those not operating in Europe and against which the Data Act's safeguards would be ineffective," they said.

☆ 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.

☆ Microsoft offers to charge for Teams to address EU antitrust concerns, sources say
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, May 4 (Reuters) - Microsoft (MSFT.O) has offered to set a price differential for its Office product with and without its Teams app to stave off a possible EU antitrust investigation and fine, two people familiar with the matter said. The European Commission, which has been looking into the case following a complaint by Slack in 2020, said there were other complainants besides the Salesforce-owned (CRM.N) workspace messaging app, about Microsoft's Teams. Reporting by Foo Yun Chee; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Sports events organisers encouraged to secure injunctions against online piracy
▼ + stars: | 2023-05-04 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, May 4 (Reuters) - Sports events organisers such as Sky, Canal+ and FIFA should be allowed to secure injunctions against online piracy of live events, the European Commission said on Thursday, following calls from companies for action against a problem that costs them billions of euros annually. The non-binding recommendation from the EU executive however falls far short of broadcasters and events organisers' calls for binding legislation. "The Recommendation encourages the use of blocking injunctions tailored to live events and, in the case of live sports events, encourages member states to grant legal standing to sports event organisers to seek an injunction where it is currently not possible," the Commission said in a statement. It also urged providers of hosting services to take measures to minimise illegal streaming and events organisers to boost the availability and affordability of their commercial offers to attract viewers. The recommendation also calls for cross-border cooperation between EU countries to tackle the issue.

☆ STMicroelectronics, GlobalFoundries win EU approval for French chip factory
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of electronics and semiconductors manufacturer STMIcroelectronics is seen outside a company building in Montrouge, near Paris, France, July 12, 2022. REUTERS/Sarah MeyssonnierBRUSSELS, April 28 (Reuters) - Chipmakers STMicroelectronics and GlobalFoundries (GFS.O) secured EU approval on Friday to build a chip factory with French state aid in France. The United States and the European Union are offering billions in state subsidies for home-grown chip factories to cut dependency on Asian suppliers. The EU wants to double its global market share to 20% in 2030 under its Chips Act agreed earlier this month. ($1 = 0.9103 euros)Reporting by Foo Yun Chee, editing by Marine StraussOur Standards: The Thomson Reuters Trust Principles.

Members of the European Parliament agreed to push the draft through to the next stage, the trilogue, during which EU lawmakers and member states will thrash out the final details of the bill. Under the proposals, AI tools will be classified according to their perceived risk level: from minimal through to limited, high, and unacceptable. Companies deploying generative AI tools, such as ChatGPT or image generator Midjourney, will also have to disclose any copyrighted material used to develop their systems. Some committee members initially proposed banning copyrighted material being used to train generative AI models altogether, the source said, but this was abandoned in favour of a transparency requirement. The ensuing race among tech companies to bring generative AI products to market concerned some onlookers, with Twitter-owner Elon Musk backing a proposal to halt development of such systems for six months.

☆ EU antitrust ruling on UBS' Credit Suisse takeover due by June 7
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: 1 min

PARIS, April 27 (Reuters) - European Union antitrust authorities will decide on UBS' planned takeover of fellow Swiss bank Credit Suisse by June 7, the European Commission said in a statement. The Commission's competition policy website showed that UBS filed for approval on April 26, with a provisional deadline for a decision set for June 7. On March 19, UBS agreed to buy rival Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. read moreReporting by Foo Yun Chee Writing by GV De Clercq Editing by Marine StraussOur Standards: The Thomson Reuters Trust Principles.

☆ EU lawmakers committee reaches deal on artificial intelligence act
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: 1 min

STOCKHOLM, April 27 (Reuters) - A committee of European Union lawmakers on Thursday reached a preliminary agreement on a European Artificial Intelligence Act, which would pave the way to the first ever regulation of AI. "Against conservative wishes for more surveillance and leftist fantasies of over-regulation, parliament found a solid compromise that would regulate AI proportionately, protect citizens’ rights, as well as foster innovation and boost the economy," said Svenja Hahn, a European Parliament deputy. She said there would be a vote at committee level on May 11 followed by a plenary vote in parliament, probably in June. Reporting by Supantha Mukherjee in Stockholm and Foo Yun Chee in BrusselsOur Standards: The Thomson Reuters Trust Principles.

☆ Nokia says draft EU patent rules one-sided, will undermine Europe
▼ + stars: | 2023-04-25 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, April 25 (Reuters) - EU draft rules aimed at staving off spats over patents essential to key technologies for telecoms equipment and connected cars appear to put the onus and cost on patent owners, which could undermine Europe's leadership in such areas, Nokia said. Under the proposal seen by Reuters, patent holders are required to register their patents with the EU Intellectual Property Office (EUIPO) if they want to charge patent fees or take legal action. The proposal is unbalanced and ignores a key problem for patent owners, said Nokia's (NOKIA.HE) head of IP policy Collette Rawnsley. "The leaked draft regulation appears one-sided with additional obligations, burdens and costs falling on SEP owners rather than implementers," she told Reuters in an interview. She said Europe, currently home to leaders in cellular standards, could even lose its lead under the draft rules.

☆ EU singles out 19 tech giants for online content rules
▼ + stars: | 2023-04-25 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

The 19 companies include Alphabet's Google Maps, Google Play, Google Search, Google Shopping and YouTube, Meta's Facebook and Instagram, Amazon's (AMZN.O) Marketplace and Apple's App Store. The others are Microsoft's two units Linkedin and Bing, booking.com (BKNG.O), Pinterest (PINS.N), Snap Inc's (SNAP.N) Snapchat, TikTok, Twitter, Wikipedia, Zalando (ZALG.DE) and Alibaba's (9988.HK) AliExpress. "We consider these 19 online platforms and search engines have become systematically relevant and have special responsibilities to make the internet safer," Breton told reporters. Breton singled out Facebook's content moderation system for criticism because of its role in building opinions on key issues. So I look forward to an invitation to Bytedance's headquarters to understand better the origin of Tiktok," Breton said.

☆ Consumer protection bodies urged to investigate ChatGPT, others
▼ + stars: | 2023-04-24 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, April 24 (Reuters) - The European Consumer Organisation (BEUC) has joined the chorus of concern about ChatGPT and other artificial intelligence chatbots, calling on EU consumer protection agencies to investigate the technology and the potential harm to individuals. BEUC, the umbrella group for 46 consumer organisations from 32 countries, set out its worries in separate letters earlier this month to the network of consumer safety authorities (CSN network) and to the network of consumer protection authorities (CPC network). It said younger consumers and children are more vulnerable to such risks. The group also called on the Consumer Safety Network to start an exchange of information and an investigation into the safety risks of these products. Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

PARIS, April 20 (Reuters) - Europe's flourishing luxury goods industry was under scrutiny on Thursday after European Union antitrust regulators inspected Gucci's Milan headquarters this week as part of an investigation spanning several countries and companies. Reuters reported on Wednesday that as part of the probe EU antitrust regulators were inspecting a facility of luxury goods company Gucci in Milan, one of the fashion capitals of the world. The inspection of the Gucci site was aimed at possible violations of the European Union's Article 101, according to a source with direct knowledge of the matter. The article prohibits agreements that restrict, prevent or distort competition within the EU and which have an effect on trade between EU member states. Kering (PRTP.PA), the French-listed owner of Gucci, late on Wednesday confirmed the inspection, adding that it was cooperating fully with the European Commission investigation into the industry.

☆ Luxury industry under scrutiny as EU targets Gucci and others
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

PARIS, April 20 (Reuters) - Europe's flourishing luxury goods industry was under scrutiny on Thursday after European Union antitrust regulators started inspecting a Gucci facility in Milan as part of an investigation spanning several countries. The article prohibits agreements that restrict, prevent or distort competition within the EU and which have an effect on trade between EU member states. Kering (PRTP.PA), the French-listed owner of Gucci, late on Wednesday confirmed a Reuters report on the inspection, adding that it was cooperating fully with the European Commission investigation into the industry. Companies found guilty of breaking EU rules face fines of as much as 10% of their global turnover. The Commission said on Tuesday that the latest action was not related to other raids involving the fashion industry in the past two years.

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