In a coordinated effort, authorities from Britain, the United States and Australia have taken decisive action against the activities of the LockBit cybercrime ransomware gang. Dmitry Khoroshev, identified as one of the senior leaders of LockBit, now faces severe penalties including asset freezes and travel bans. LockBit, a ransomware group,…

The Spanish Startup Association has lodged a complaint against Microsoft with the Spanish antitrust regulator. The grievance, filed on Tuesday, accuses the U.S. tech giant of engaging in allegedly anticompetitive practices within its rapidly expanding cloud computing services division. Microsoft, currently ranked second in the cloud computing sector behind Amazon,…

TikTok and its Chinese parent company ByteDance have initiated a lawsuit against the U.S. federal government. The lawsuit, filed on Tuesday in the U.S. Court of Appeals for the District of Columbia Circuit, aims to block a law recently signed by President Joe Biden that mandates the divestiture of the…

In a bid to acquire Paramount Global, Apollo Global Management and Sony have encountered significant obstacles as Democratic-led federal regulators express antitrust concerns, sources familiar with the matter have informed The New York Post. Paramount Global, which recently terminated exclusive merger discussions with Skydance Media, holds a substantial media portfolio,…

Turkey’s Competition Council has taken a decisive step against US tech giant Meta, slapping it with a fine of 335.7 million Turkish liras, equivalent to over $10.4 million, in response to Meta’s decision to terminate its Threads service in Turkey. The Competition Council had previously imposed a daily fine of…

The Competition Bureau of Canada has initiated an inquiry into Lululemon Athletica Inc. following a complaint by environmental nonprofit Stand.earth accusing the yoga apparel giant of misleading consumers with its environmental claims. Stand.earth, known for its advocacy on environmental issues, filed a complaint with the Competition Bureau alleging that Lululemon…

The Massachusetts Supreme Judicial Court convened in Boston to deliberate on whether two ballot proposals aiming to redefine the status of app-based workers should be presented to voters in November. The proposals stand to reshape the landscape of gig economy labor relations, particularly affecting industry giants like Uber Technologies and…

The European Commission has greenlit Japan’s Nippon Steel’s acquisition of U.S. Steel for $14.9 billion. Despite facing significant opposition on U.S. soil, the deal has been given the regulatory nod in Europe, with the Commission asserting that it does not pose any competition concerns. Reuters reported on Monday that the European…