China has launched an anti-monopoly investigation into US chipmaker Nvidia, citing possible violations linked to its acquisition of Mellanox Technologies in 2020. The move is widely seen as retaliation against recent US restrictions on China’s semiconductor sector, including curbs on advanced chip exports.
Nvidia, which dominates China’s AI chip market, is accused of breaching conditions tied to the Mellanox deal, such as fair trade requirements and restrictions on bundling products. The probe comes amid heightened trade tensions, with Beijing encouraging local companies to avoid US chips and Washington tightening export controls on critical semiconductor technologies.
Analysts suggest the investigation is unlikely to significantly impact Nvidia in the near term, as its most advanced chips are already restricted from sale in China. However, the company faces growing competition from domestic firms like Huawei. China accounted for 17% of Nvidia’s revenue last year, down from 26% two years prior, as US-China tech conflicts continue to reshape the global semiconductor landscape.
TikTok and its parent company, ByteDance, have filed an emergency motion with a federal appeals court to temporarily halt a US law that would force ByteDance to sell TikTok by 19 January or face a nationwide ban. The companies argue that without the delay, the popular app could shut down in the US, affecting 170 million monthly users and numerous businesses reliant on the platform.
The motion follows a decision by an appeals court panel upholding the divestment requirement. TikTok’s lawyers assert the Supreme Court should have time to review the case and highlight President-elect Donald Trump’s stated intention to prevent the ban. The incoming administration, they argue, could reconsider the law and render the case moot.
The law granting the US government authority to ban foreign-owned apps over data security concerns has faced criticism, with TikTok warning the decision could disrupt services globally. As the January deadline looms, ByteDance faces challenges in demonstrating sufficient progress toward a divestment to secure an extension, even as political and legal battles intensify.
Sens. Mike Lee (R-Utah) and Peter Welch (D-Vt.) are calling for an investigation into potential antitrust violations by FanDuel and DraftKings. In a joint letter to the Federal Trade Commission (FTC) and the US Department of Justice, the lawmakers accused the two sports betting giants of collaborating to suppress competition in the online sports betting market. The issue centres around their 2016 merger attempt, which was blocked by the FTC due to concerns about market dominance.
Since the merger was scrapped, Lee and Welch argue that FanDuel and DraftKings have used their dominance in fantasy sports to stifle smaller competitors in the online betting space. They claim that the companies, through the Sports Betting Alliance trade group, have intimidated rivals, blocked access to technology, and undermined marketing opportunities, which could harm innovation and prevent new players from entering the market.
FanDuel and DraftKings have not publicly commented on the allegations, and the Justice Department has acknowledged receipt of the letter but has not provided further details. The news has caused a drop in DraftKings’ stock, with Sen. Lee highlighting the potential societal impacts of the companies’ actions.
The European Union is investigating Nvidia’s business practices, focusing on whether the AI chip leader ties its GPU products to other hardware like networking equipment. Nvidia, which dominates the GPU market with an 84% share, has faced increasing global scrutiny due to its role in the AI and accelerated computing sectors.
Regulators recently distributed questionnaires to Nvidia’s competitors and customers as part of their preliminary fact-finding process. If proven, antitrust violations could result in fines up to 10% of the company’s annual global turnover.
Nvidia has denied any wrongdoing, asserting its products compete on merit and support customer choice. The inquiry coincides with a separate investigation by France‘s antitrust authority, which may soon press charges.
Google has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) over its decision to place the company’s payment division under federal supervision. The legal dispute arises from the CFPB’s claims that Google’s handling of its payment products, including a discontinued peer-to-peer payment service, posed risks to consumers.
The lawsuit, lodged in the Washington, DC district court, argues that the CFPB’s actions constitute government overreach. Google asserts the decision was based on limited and unverified user complaints, stating that a discontinued product cannot pose consumer risks. The CFPB, however, maintains that its supervisory authority is essential to enforcing compliance with financial laws, even for defunct services.
Google spokesperson José Castañeda described the agency’s oversight as unnecessary, reiterating that the company’s payment products have always prioritised user safety. Google also claims the CFPB set an unreasonably low standard for determining consumer risks, leading to undue regulatory burdens.
The CFPB’s authority to oversee nonbank financial institutions, announced in 2022, allows it to conduct examinations and intervene against potential risks to consumers. Google contends that applying such measures to its payments division is unjustified and aims to challenge the agency’s approach in court.
Australia’s financial crime watchdog, AUSTRAC, has launched a dedicated cryptocurrency task force to enforce anti-money laundering laws on crypto ATM providers. The move aims to curb the rising use of cryptocurrency in scams, money laundering, and fraud as the sector grows rapidly.
The task force will focus on ensuring that digital currency exchanges offering crypto ATM services implement robust safeguards against illicit activities. Australia currently has 1,200 crypto ATMs and 400 registered digital currency exchange providers. Non-compliance with regulations will result in financial penalties, AUSTRAC warned.
With Bitcoin surpassing $100,000 following Donald Trump’s election as US president, the global cryptocurrency market has nearly doubled in value this year. AUSTRAC CEO Brendan Thomas emphasised the urgent need for action, citing the increasing number of Australians falling victim to crypto-related scams.
Apple and Baidu are collaborating to bring AI features to iPhones in China, leveraging Baidu’s Ernie 4.0 language model. However, technical challenges, including the AI’s response accuracy and understanding of prompts, have slowed progress.
Sales pressures in China are mounting for Apple, with its market share slipping and Huawei reporting significant growth. Criticism of the iPhone 16‘s lack of AI features has further strained Apple’s competitive position in the region.
Privacy policies also pose hurdles, as Apple’s restrictions prevent Baidu from collecting data from AI interactions, potentially limiting the effectiveness of these features. Siri is expected to incorporate Baidu’s AI models.
The UK Competition and Markets Authority (CMA) has approved the merger between Vodafone and Three, two of the country’s largest telecom operators, in a $19 billion deal. The merger, which has faced intense scrutiny, was initially investigated due to concerns over potential price hikes, reduced services, and lower investments in mobile networks. However, the CMA approved the deal with conditions to address these concerns, including commitments for significant investment in a nationwide 5G network.
The companies must also cap mobile tariffs for the next three years and maintain contractual terms for mobile virtual network operators (MVNOs) during that period. The CMA’s decision marks a shift from previous cases where “4-3” mergers in the telecom sector were allowed only with significant structural changes. This approval is seen as a pragmatic approach, with the CMA confident that competition will be strengthened by a well-resourced trio of mobile operators in the UK.
Vodafone’s CEO, Margherita Della Valle, welcomed the approval, emphasising the benefits for consumers and businesses, including wider coverage and faster mobile speeds. The merger is expected to accelerate the UK’s position in European telecommunications, with a combined investment in the sector. The CMA and Ofcom will oversee the implementation of the agreed measures to ensure competition is maintained.
Malaysia has cautioned that US President-elect Donald Trump’s proposed tariffs on BRICS nations could disrupt the global semiconductor supply chain. Trump has warned of 100% tariffs on BRICS members unless they halt efforts to create a new currency or reduce reliance on the US dollar, a move Malaysia’s trade minister, Tengku Zafrul Aziz, says could harm both sides.
The United States is Malaysia’s third-largest trade partner, and US firms are key investors in Malaysia’s semiconductor industry, which handles 13% of global chip testing and packaging. Tengku Zafrul emphasised that supply chain stability depends on cooperation, not protectionist measures.
While BRICS countries have discussed alternatives to the dollar, no official decision has been made. Malaysia has applied to join the bloc but is not yet a member. Meanwhile, Russia argued that US pressure would only accelerate global moves toward national currencies in trade.
Microsoft is facing a £1 billion legal claim in the UK, alleging it imposed unfair licensing fees on businesses using rival cloud services like Amazon, Google, and Alibaba. The case, brought by competition lawyer Maria Luisa Stasi, accuses Microsoft of deterring customers from using competing cloud platforms by inflating fees for its Windows Server software.
The licensing changes, introduced in 2020, reportedly incentivised customers to choose Microsoft’s Azure platform, raising concerns about restricted competition. Britain’s competition watchdog is also scrutinising Microsoft’s cloud practices as part of a broader industry investigation.
The United StatesFederal Trade Commission has similarly launched an antitrust probe into Microsoft’s cloud computing and software licensing, investigating potential market abuse. Microsoft’s actions have sparked global attention over its influence in the cloud sector, which is dominated by Microsoft, Amazon, and Google.
