(Reuters) - Google is filing an appeal at the European Union's top court against an earlier decision to uphold a $2.8 billion antitrust fine, a spokesperson for the Alphabet unit said late on Thursday, the company's second bid to overturn the penalty. EU Competition Commissioner Margrethe Vestager fined the world's most popular internet search engine in 2017 over the use of its own price comparison shopping service to gain an unfair advantage over smaller European rivals. The case was the first of three decisions that have seen Google rack up 8.25 billion euros in EU antitrust fines in the last decade. In November, the EU's General Court largely dismissed Google's challenge against the fine, saying the European Commission correctly found the company's practices harmed competition. The judges in Luxembourg rejected the company's argument that the presence of merchant platforms showed there was strong competition. "After careful consideration, we have decided to appeal the … [Read more...] about Google launches fresh appeal to overturn $2.8 billion fine at top EU court
European lawmakers urged the European Commission and EU member states on Wednesday to act over the “deterioration” in media freedoms in Hong Kong, reiterating calls for sanctions on the city’s top officials and proposing a review of Hong Kong’s status at the World Trade Organization (WTO). During a debate in the European Parliament, MEPs “deplored” the impact of Beijing’s sweeping national security law on Hong Kong, citing the closure of the independent media outlets Stand News, DB Channel and Citizen News as evidence of a shrinking space for the free press. Noting the shutdown of civil groups including trade unions and legal societies and the departure of Amnesty International from Hong Kong, the resolution said that the law had made it “impossible for human rights organisations to work freely and without fear of serious reprisals”. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of … [Read more...] about European Parliament debates resolution over ‘deterioration’ of media freedoms in Hong Kong
Last year was the planet’s fifth hottest ever recorded, a group of scientists in Europe announced on Monday. Fifth hottest beats 2021 being the hottest ever—but that’s essentially where the good news stops. The annual findings, by the EU’s Copernicus Climate Change Service, still clock the planet’s average temperature at 0.5 degrees Fahrenheit above its 30-year average, and about 2.2 degrees hotter than before the Industrial Revolution, when factories began filling the atmosphere with pollution. By Copernicus’s ranking, 2021 just edged out 2015 and 2018; it says the hottest years on record were 2016 and 2020. advertisement What this all means is that Earth’s last seven years have also been Earth’s seven hottest years. This upward arc, the Copernicus scientists warned , is “a stark reminder of the need to change our ways, take decisive and effective steps toward a sustainable society, and work toward reducing net carbon emissions.” Director Carlo Buontempo … [Read more...] about 2021 was Earth’s fifth-hottest year on record, and that’s even worse than it sounds
- A + A PETALING JAYA (Jan 21): One of the pertinent dialogues discussed at the Rehda Institute’s CEO Series 2022 Annual Property Developers Conference held on Jan 20 is how Malaysia is poised to attract more foreign direct investments (FDIs). A panel discussion titled " Attracting strategic foreign investment into Malaysia: How can Malaysia differentiate itself regionally? " drew ideas and views on what can be done to attract more international investments. The panellists were Malaysian Investment Development Authority (MIDA) chief executive officer (CEO) Datuk Arham Abdul Rahman, FIABCI Malaysia president and S P Setia Bhd deputy president and chief operating officer (COO) Datuk Seri Koe Peng Kang, EUROCHAM Malaysia chairman Oliver Roche, AMCHAM Malaysia CEO Siobhan Das and Malaysia-China Business Council (MCBC) director Datuk Tee Guan Pian. AMCHAM’s Das said: “It is a discussion we need to further explore. As it is, Malaysia is already home to many … [Read more...] about Confidence an impetus to attract FDIs, says Rehda Institute
Image source: The Motley Fool. Insteel Industries ( NYSE:IIIN ) Jan 20, 2022 , 10:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Hello and welcome to the Insteel Industries first quarter 2022 earnings call. My name is Alex and I will be your coordinator today. [Operator instructions] I will now hand over to your host, H Woltz, president and CEO of Insteel. Please go ahead, H. H Woltz -- President and Chief Executive Officer Thank you, Alex. Good morning. Thank you for your interest in Insteel and welcome to our first quarter 2022 conference call, which will be conducted by Mark Carano, our senior vice president, CFO, and treasurer, and me. Before we begin, let me remind you that some of the comments made in our presentation are considered to be forward-looking statements that are subject to various risks and uncertainties, which could cause actual results to differ materially from those … [Read more...] about Insteel Industries (IIIN) Q1 2022 Earnings Call Transcript
Share to Twitter Share to Linkedin With the sudden collapse of Thomas Cook just recently — and with some travelers stuck on their vacations and unable to get home as they’d originally planned — many travelers are wondering if something similar could happen to them in the future. If it does, what do you do? How can you protect yourself if your travel provider collapses mid-trip? Likelihood Of This Happening The good thing is this kind of scenario, according to experts who have spoken up in the aftermath, is very unlikely to occur in the United States. Thomas Cook as a brand would create travel experiences that included everything — your hotel, your air travel, tours, etc. All of it was under the Thomas Cook name. However, most travelers aren’t using a service like this. Even if they do bundle travel, it’s likely they’re still working with different, separate brands. If one of them does, unfortunately, happen to go under while you’re abroad, you won’t be … [Read more...] about What Do You Do When Your Travel Provider Collapses Mid-Trip?
Share to Twitter Share to Linkedin Europeans on average earnings could soon be forced out of their cars and on to the bus by environmental rules effectively banning sales of cheap new internal combustion engines (ICE) in favor of unaffordable electric cars; but help is at hand. Transition-One , a small start-up company from Orleans, France, is coming to the rescue with its plan to convert your small and popular ICE vehicle at a price you can afford and with a performance fit for most normal people’s local needs. Transition-One’s business is currently centered on France, but it has big ambitions to grow globally, CEO Aymeric Libeau said in an interview. Felipe Munoz, global automotive analyst at JATO Dynamics , said its plans are interesting. “Easy and affordable, exactly what many consumers look for when buying a car and can’t find under the current electric new car market. Although the conversion results are not yet the best – range is still limited – … [Read more...] about Electric Cars Are Too Expensive For Many, But Retrofitting Could Be The Answer
Share to Twitter Share to Linkedin Despite a government commitment to end deforestation made at COP26, many companies and investors exposed to deforestation risk have, as yet, to do anything about it. This analysis comes from Global Canopy’s latest annual Forest 500 report which assesses and ranks the 350 companies that produce, use, trade or sell the largest amounts of commodities that drive deforestation, and the 150 biggest banks, institutional investors and pension funds that finance them. The headline numbers are a concern, with less than 30% of companies having policies covering commodities they are exposed to, only 38% of financial institutions have a clear policy on addressing portfolio deforestation risk and less than 30% of both companies and institutions have recognized the risk at all. COP26 also saw 30 financial institutions, with $8.7 trillion in assets under management (AUM), agree to use best efforts to eliminate commodity-drive … [Read more...] about Despite Government Pledges To End Deforestation, Companies And Investors Are Ignoring The Risk
Share to Twitter Share to Linkedin In his annual letter to shareholders, Blackrock’s Larry Fink says transparency is an important element of delivering long-term, durable returns, yet CDP says many companies are still failing to report. It’s Non-Disclosure Campaign (NDC) enables investors to have an impact on disclosure through direct engagement, addressing the disconnect between rhetoric and reality. The last eighteen months have seen a growing number of investors and financial institutions announcing net zero targets. By COP26 in Glasgow last year 90% of the world’s economy had committed to net zero and the total financial capital committed to net zero targets was $130 trillion, up from the beginning of 2020. Yet disclosure has not kept pace with commitments. Fink’s latest letter asks companies to issue reports consistent with TCFD framework disclosures on climate risk, yet CDP says many companies are not engaging at all. Over 7000 of the world’s largest … [Read more...] about As Fink’s CEO Letter Calls For TCFD Disclosure, CDP Enables Investor Pressure For Corporate Transparency
Share to Twitter Share to Linkedin Sagive Greenspan, a market-savvy IT, and tech industry veteran. CEO at Priority , a leading global business management solutions provider. My path in the world of information systems started when I was a developer. By virtue of my role and as a die-hard technology and innovation enthusiast, I have been exposed to multiple technological innovations, some more exciting than others. Over the years, many of the innovative technologies, from procedures through products and services, have come and gone, with only a few remaining for the long run, and even fewer that serve us daily. Today, as CEO of one of the most exciting technology solutions providers, I understand why and how some of the most innovative technologies we have developed over time didn’t always pass the test of supply and demand in the real world. In today’s digital age, any newfangled technology-driven application, product or feature excites us before … [Read more...] about Is Advanced Technology The Tipping Point For Successful Digital Innovation?