Canada’s telecommunications regulator, the CRTC, announced on Wednesday that it will impose a fee on Google to cover the costs of enforcing the Online News Act, which requires large tech platforms to pay for news content shared on their sites. The levy, which will be implemented from April 1, will vary each year and has no upper limit. This move comes amid rising tensions between Canada and the US over issues like trade and a digital services tax on American tech firms.
The CRTC stated that most of its operations are funded by fees from the companies it regulates, and the new charge aims to recover costs related to the law. Google, which had previously raised concerns about the fairness of such a rule, had argued that it was unreasonable to impose 100% of the costs on one company. Despite this, Google has agreed to pay C$100 million annually to Canadian publishers in a deal that ensures its search results continue to feature news content.
The law, which is part of a global trend to make internet giants pay for news, was introduced last year in response to concerns that tech firms were crowding out news businesses in the online advertising market. While both Google and Meta were identified as major platforms required to make payments, Meta chose to block news from its platforms in Canada instead. Google, however, has continued to negotiate with the Canadian government, although it has yet to comment further on the CRTC’s decision.
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AI-related stocks declined on Tuesday as investors braced for Nvidia’s earnings, expected to provide insight into AI demand and justify high valuations. Concerns over slowing infrastructure investments and competition from low-cost Chinese AI models weighed on the market.
Tech stocks suffered further losses after a report revealed Microsoft had scrapped data centre leases in the US.
Nvidia dropped 2.1% ahead of its crucial earnings release, while semiconductor firms like Broadcom and Micron slid around 2.1%. Investor scepticism over AI spending deepened following breakthroughs by China’s DeepSeek.
The sector also faced pressure from reports that Washington plans to tighten restrictions on Nvidia’s chip exports to China. US officials are consulting allies about stricter chip controls, adding to uncertainty in the market.
Data centre operators and power firms, expected to benefit from AI growth, also declined. Digital Realty slipped 1.2%, while power providers Vistra and Constellation Energy lost 5.9% and 3.3% respectively.
AI server maker Super Micro Computer led losses on the S&P 500, falling 8.7%, while Palantir dropped 3.7%.
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Apple is set to begin selling its iPhone 16 in Indonesia following a new agreement with the government, which includes the establishment of a manufacturing plant and a research and development centre. The country’s industry minister, Agus Gumiwang Kartasasmita, confirmed on Wednesday that Apple would soon receive the required local content certificate to allow sales of the device. However, he did not specify when the certificate would be issued.
Indonesia had previously banned the iPhone 16 due to Apple’s failure to meet the local content requirement, which mandates that a certain percentage of parts must be sourced domestically or through local partnerships. Although Apple has no manufacturing facilities in Indonesia, it has been operating developer academies in the country since 2018. Indonesia, with its population of 280 million, is keen to attract more tech-related investment.
Analysts have warned that the local content ban could harm investor confidence and fuel concerns about protectionism, but the new agreements between Apple and the Indonesian government may help address these issues.
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Italy is demanding 12.5 million euros ($13 million) from Elon Musk’s social network X following a tax probe linked to a broader investigation into Meta. The case, which focuses on value-added tax (VAT) claims for the years 2016 to 2022, is significant as it raises questions about how social networks provide access to their services. Italian tax authorities argue that user registrations on platforms like X, Facebook, and Instagram should be considered taxable transactions, as they involve the exchange of personal data for a membership account.
This case could have major implications for the tech sector in Europe, potentially altering the way business models are structured in the 27-nation European Union, as VAT is a harmonised EU tax. Although the claim of 12.5 million euros is a small amount for X, the outcome of this case could influence future tax policies across the region. Both X and Meta must respond to the tax authority’s observations by late March or early April, with the option to either accept the charges or challenge them in court.
The investigation also comes at a sensitive time, as US President Donald Trump has criticised digital taxes in countries like Italy that target US tech firms. Musk, who has strong ties with Italian Prime Minister Giorgia Meloni, is also keen to expand his Starlink business in the country. If no agreement is reached, Italy’s Revenue Agency may pursue a lengthy judicial review, which could take up to 10 years to resolve.
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China has warned that the United States‘ efforts to pressure other nations into targeting its semiconductor industry will ultimately backfire.
During a regular press briefing, Chinese foreign ministry spokesperson Lin Jian criticised Washington’s approach, arguing that it would disrupt the global semiconductor supply chain and hinder industry development worldwide.
Lin Jian emphasised that such actions not only undermine fair competition but also threaten the stability of the global technology market.
Tensions between the US and China over semiconductor access have escalated in recent years, with Washington implementing export controls and encouraging its allies to adopt similar measures.
Beijing has consistently opposed these restrictions, calling them politically motivated attempts to curb China’s technological progress.
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Taiwan‘s economy minister stated that the government has not received any official information regarding a potential overseas investment by chip giant TSMC in Intel or the United States.
Media reports have suggested that TSMC, the world’s largest contract chipmaker, has been in talks to take a stake in Intel, but neither company has confirmed the speculation. Any significant foreign investment by a Taiwanese company requires government approval through the economy ministry’s investment review commission.
Speaking to reporters in Taipei, Economy Minister Kuo Jyh-huei clarified that the ministry cannot comment on market rumours without receiving an official report from TSMC. He confirmed that no application or formal communication has been submitted so far.
Kuo also highlighted that, given the foreign investment nature of such a deal, a formal review process would be necessary before any discussions could take place.
The potential deal has gained attention amid heightened US-Taiwan trade tensions. Former US President Donald Trump previously criticised Taiwan for its dominance in the semiconductor market and expressed a desire to bring more manufacturing back to the United States.
Meanwhile, Taiwan continues to run a significant trade surplus with the US, adding further complexity to any potential cross-border investment.
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Stronger semiconductor restrictions on China are being considered by Donald Trump’s team, expanding on measures introduced during Joe Biden’s presidency. Bloomberg News reported that discussions have taken place about tightening controls on chip exports and maintenance.
US officials have recently met with their Japanese and Dutch counterparts to explore limits on engineers from Tokyo Electron and ASML working on semiconductor equipment in China.
Additional restrictions on Nvidia chip exports are also under consideration, aiming to further curb Beijing’s technological capabilities.
Trump’s team is pushing for greater alignment with key allies to mirror restrictions already imposed on American chipmakers, such as Lam Research, KLA, and Applied Materials. Tokyo Electron, ASML, and various government officials have either declined or not responded to requests for comment.
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Nvidia has filed a lawsuit against the European Commission for accepting a referral from Italy to review its acquisition of AI startup Run:ai. The US chipmaker argues that the Commission violated a recent court ruling that restricts its powers over minor transactions. This case follows growing concerns over the Commission’s use of Article 22, which allows it to review smaller mergers that fall below EU merger thresholds, a move companies have criticised as overreach.
While the case will not impact the approval of the AI‘s deal, which was cleared in December, a ruling in favour of Nvidia could curb the European Commission’s ability to regulate similar transactions in the future. Nvidia argues that the decision breaches legal principles, including proportionality and equal treatment, and undermines legal certainty for businesses operating in the EU.
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In Nagpur, India, flower shop owner Ashish Nagose is one of many young Indians turning to cryptocurrency trading as a way to supplement their income. With regulations tightening around equity derivatives in India, Nagose hopes that trading in crypto assets like Bitcoin and Ethereum can provide stability during slower months for his family-owned flower business. His efforts reflect a broader trend among young Indians who are increasingly looking to cryptocurrencies as a source of income, with the crypto market in India growing rapidly.
The surge in cryptocurrency trading volumes on Indian exchanges has been remarkable, more than doubling in the last quarter of 2024. As of now, young retail traders, particularly in smaller cities like Jaipur, Lucknow, and Pune, are driving much of the interest in crypto. Many of these individuals are seeking opportunities to earn more in a country where job growth has not kept pace with the economy. With India’s crypto market projected to grow to $15 billion by 2035, local platforms like CoinSwitch are seeing increasing numbers of users.
However, this rise in crypto interest is not without challenges. The Indian government has imposed steep taxes on crypto trading and has issued warnings about the risks and volatility of these digital assets. Despite these concerns, young traders like Sagar Neware are determined to make a living through crypto, aiming to restart their family’s business with the money they earn from trading.
The surge in crypto trading in India is also drawing attention to the need for regulatory oversight. While the government has yet to adopt comprehensive regulations for cryptocurrencies, it has warned of potential risks to macroeconomic stability. Despite the central bank’s caution, India’s young crypto enthusiasts are undeterred, continuing to learn and trade in hopes of a more prosperous future.
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Indonesia and Apple have reportedly reached an agreement to lift the country’s ban on iPhone 16s, with a potential deal expected to be signed this week. The ban was imposed in October after Apple failed to meet the requirement that smartphones sold in Indonesia must include at least 35% locally-made parts.
As part of the agreement, Apple will invest $1 billion into a manufacturing plant in Indonesia, focused on producing components for smartphones and other products. Additionally, Apple will commit to training local workers in research and development, expanding beyond its existing Apple academies. However, Apple has no immediate plans to begin iPhone production in the country.
Neither Apple nor Indonesia’s Ministry for Industry have responded to requests for comment on the matter.
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