The Competition and Markets Authority (CMA) has temporarily halted the proposed £762 million acquisition of UK logistics firm Wincanton by American logistics company GXO, citing potential competition risks. This decision follows the CMA’s preliminary investigation, which raised concerns about the merger’s impact on the already competitive contract logistics services sector.
An interim enforcement order (IEO) is now in effect, preventing any integration of the two firms during the review process. The CMA’s phase 1 investigation indicated that the merger could reduce competition in a market valued at £16 billion in the UK, where GXO and Wincanton are key players competing for contracts with major retailers. Naomi Burgoyne, senior director of mergers at the CMA, warned that diminished competition could lead to higher costs for consumers reliant on efficient delivery services.
GXO has five days to propose solutions to address the CMA’s concerns. If the proposals are found inadequate, the regulator will proceed to a more detailed phase two investigation. In response to the CMA’s announcement, a GXO spokesperson stated that they are reviewing the decision and are committed to collaborating with the CMA to achieve a favourable outcome, asserting that the acquisition would benefit logistics customers across the UK and support government initiatives for economic growth.
Tenstorrent, a Silicon Valley startup founded by veterans from Apple and Intel, has secured a deal with the Japanese government to train up to 200 Japanese chip designers over the next five years. This partnership, announced on Tuesday, includes a $50 million investment shared between Tenstorrent and Japan’s Leading-edge Semiconductor Technology Centre. It is part of Japan‘s initiative to revitalise its semiconductor industry, which has seen a significant decline since its dominance in the 1980s.
Central to this revitalisation effort is Rapidus, a government-backed contract chipmaker aiming to begin mass production of advanced semiconductors by 2027. To support Rapidus’s goals, the collaboration with Tenstorrent focuses on creating future customers by educating Japanese engineers in the US about chip design. Starting in April 2025, these engineers will work closely with Tenstorrent’s experienced team, including industry veterans who have worked on Apple chips.
The agreement allows Tenstorrent to retain the chip designs created during the training, which will utilise RISC-V, an open chip design architecture. Upon returning to Japan, the engineers will be equipped to leverage their new knowledge to develop their own RISC-V designs, further contributing to the growth of Japan’s semiconductor capabilities. Tenstorrent’s Chief Customer Officer, David Bennett, emphasised that Japan’s proactive investments reflect its commitment to taking control of its technological future.
The UK’s Competition and Markets Authority (CMA) has indicated that a proposed merger between Vodafone and Three could proceed, contingent on the companies making commitments to protect consumer prices and enhance the nation’s 5G infrastructure. The regulator, initially concerned that combining the two networks could lead to higher costs and reduced competition, has now concluded that these issues could be mitigated if Vodafone and Three agree to specific remedies.
Vodafone has responded positively to the CMA’s findings, expressing optimism that the proposal offers a clear path to regulatory approval. The telecom giants have emphasised that the merger would benefit both consumers and businesses, with plans to bring advanced 5G access to schools, hospitals, and other vital sectors across the UK.
The CMA’s investigation, which began in January, is now focused on ensuring the merged entity honors price promises on certain data plans for at least three years. Additionally, the companies would be required to maintain existing deals with smaller Mobile Virtual Network Operators (MVNOs) like Sky Mobile, Lyca, and Lebara. Industry analysts see the CMA’s conditional support as a positive step, potentially leading to a stronger three-player market alongside existing competitors EE and O2.
With public feedback on the proposal open until 12 November, a final decision is expected from the CMA by 7 December.
Nvidia CEO Jensen Huang has urged South Korea’s SK Hynix to speed up the delivery of its next-generation HBM4 memory chips by six months, according to SK Group Chairman Chey Tae-won. Initially scheduled for the latter half of 2025, the HBM4 chips are in high demand as Nvidia’s GPUs require them for advancing AI technology. Nvidia, which holds a dominant share of the AI chip market, relies on SK Hynix’s high-bandwidth memory to support AI processing.
Facing growing competition from Samsung and Micron, SK Hynix is working to deliver its latest HBM3E chips this year, with plans to release improved 16-layer versions early next year. Samsung has also announced progress on a new supply deal and aims to roll out its HBM4 products by the second half of 2024.
Shares of SK Hynix surged 5.1% on the news, reflecting strong investor confidence in its strategic response to the booming demand for advanced memory technology.
The United Nations Development Programme (UNDP) Bahrain and the Bahrain Center for Strategic, International, and Energy Studies (Derasat) have embarked on a significant partnership to develop the National Human Development Report (NHDR), titled ‘Digital Transformation: A Roadmap for Progress.’ That collaboration aims to harness digital transformation as a strategic tool for fostering inclusive growth in the Kingdom, aligning with Bahrain Vision 2030 and the Sustainable Development Goals (SDGs).
In this context, the NHDR will comprehensively analyse how digital transformation can enhance human development outcomes in Bahrain, addressing critical issues such as the digital divide, privacy concerns, cybersecurity, and integrating digital technologies into public services. Furthermore, the report will benchmark Bahrain’s digital landscape against regional and international standards, offering actionable insights and recommendations to improve digital inclusion, protect privacy, and secure digital infrastructures.
Moreover, the UNDP Bahrain and Derasat highlight the importance of stakeholder engagement in developing the NHDR. By collaborating with government entities, civil society organisations, and the private sector, diverse perspectives will be included to ensure alignment with Bahrain’s national development goals.
The UAE’s energy giant ADNOC is pioneering the use of highly autonomous agentic AI in the energy sector through a partnership with G42, Microsoft, and AIQ, as announced by CEO Sultan Al Jaber at an industry event in Abu Dhabi. This move is part of a broader UAE strategy to reduce reliance on oil, with support from G42, which secured a $1.5 billion investment from Microsoft to fuel the nation’s tech industry diversification.
Agentic AI, viewed as the future of artificial intelligence, allows systems to operate independently and make proactive decisions. According to Jaber, this advanced AI will significantly enhance operations by analysing vast amounts of data, reducing seismic survey times from months to days, and improving production forecasts by up to 90%.
The UAE’s government is investing billions in AI, including regional language-specific chatbots, positioning the Gulf state to remain economically influential as global demand for oil wanes.
The Kremlin has called on Google to lift its restrictions on Russian broadcasters on YouTube, highlighting mounting legal claims against the tech giant as potential leverage. Google blocked more than a thousand Russian channels and over 5.5 million videos, including state-funded media, after halting ad services in Russia following its invasion of Ukraine in 2022.
Russia’s legal actions against Google, initiated by 17 Russian TV channels, have led to compound fines based on the company’s revenue in Russia, accumulating to a staggering figure reportedly in the “undecillions,” according to Russian media. Kremlin spokesperson Dmitry Peskov described this enormous number as symbolic but urged Google to take these legal pressures seriously and reconsider its restrictions.
In response, Google has not commented on these demands. Russian officials argue that such restrictions infringe on the country’s broadcasters and hope the significant financial claims will compel Google to restore access to Russian media content on YouTube.
Nvidia is seeking antitrust approval from the European Union for its planned acquisition of Israeli AI startup Run:ai valued at approximately $700 million. The European Commission has raised concerns that the merger could harm competition in the markets where both companies operate, prompting increased scrutiny of tech giants acquiring startups. This move reflects a broader regulatory trend aimed at preventing potential monopolistic practices in the tech sector.
Although the acquisition does not meet the EU’s turnover threshold for automatic review, it was flagged by Italy’s competition agency, which requested the EU to investigate further. The Commission has accepted this request, indicating that the transaction could significantly impact competition across the European Economic Area.
In response to the regulatory review, Nvidia expressed its readiness to cooperate and answer any questions regarding the acquisition. The company is committed to ensuring that AI technologies remain accessible across various platforms, emphasising its role as a leader in the chip industry, particularly for AI applications like ChatGPT.
Toyota and Nippon Telegraph and Telephone (NTT) plan to invest 500 billion yen ($3.27 billion) by 2030 to create an AI-driven platform to reduce traffic accidents. Announced in a joint statement, the Japanese automaker and telecom giant aims to launch the platform by 2028, using extensive data to support driver-assistance technology. This project, initiated amid rising pressure on Japanese automakers to compete in the autonomous driving space, is expected to enhance safety features such as improved visibility in urban areas and smoother expressway merging.
The companies intend the platform to benefit not only their own operations but also government and industry partners, setting a long-term goal to minimise traffic accidents. Toyota and NTT, who first collaborated on 5G-connected car technology in 2017, see this project as part of a broader vision for zero-accident mobility, aiming for widespread adoption by 2030.
Toyota’s existing investments in autonomous technology include Woven by Toyota, a unit established in 2021 focused on AI mobility. Woven by Toyota is also developing the Arene automotive software platform and Woven City, a testing hub in Shizuoka. As part of these advancements, NTT and Toyota also plan to test self-driving technology as early as 2025.
The Malaysia Digital Economy Corporation (MDEC) has signed two significant Memorandums of Understanding (MoUs) with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV), aiming to attract up to RM200 million (approximately US$45 million) in capital investment. These strategic partnerships focus on fostering the growth of Malaysian startups in essential sectors such as fintech, healthcare, AI, and robotics while providing opportunities for access to international markets across Southeast Asia.
By emphasising development in key areas like AI, cybersecurity, blockchain, and digital finance, MDEC seeks to support local innovation and talent development, ultimately positioning Malaysia as a dynamic, digital-first nation. The commitment to nurturing local expertise and fostering entrepreneurship is crucial for enhancing Malaysia’s status as a leader in technological advancement within the region.
MDEC is dedicated to ensuring the effective implementation of these initiatives by working closely with Ascent and CCV. The collaboration will maximise the long-term benefits for Malaysia’s digital economy, addressing immediate investment needs while laying the groundwork for sustainable growth.