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The UK government aims to tackle subscription traps costing consumers £1.6 billion annually. New regulations will simplify cancellation processes and refund procedures, addressing the issue of unwanted subscriptions that often arise from misleading free trials and complex cancellation routes.
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Recent reports indicate a significant rise in scams globally, with Citizens Advice revealing that nine million people in the UK have fallen victim. Authorities are urging vigilance as scammers employ increasingly sophisticated tactics, including impersonation and urgency, to exploit vulnerable populations. Awareness campaigns are underway to combat these deceptive practices.
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The Federal Trade Commission has successfully blocked Tapestry's $8.5 billion acquisition of Capri Holdings, citing concerns over reduced competition in the accessible luxury handbag market. The ruling has led to a significant drop in Capri's stock, while Tapestry plans to appeal the decision.
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Recent legal battles in Texas highlight the ongoing conflict over consumer protection regulations. A federal judge's ruling against venue shopping in a case involving the Consumer Financial Protection Bureau (CFPB) contrasts with state efforts to block the release of Uvalde shooting records, raising questions about transparency and accountability in law enforcement.
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Following Donald Trump's recent election victory, his potential influence on AI regulation is being closely examined. Key figures, including Elon Musk, may shape the administration's approach, which could dismantle existing safety standards and oversight established under the Biden administration.
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Following Donald Trump's election victory, Silicon Valley figures have openly supported his administration, anticipating a pro-business agenda. Key players like Elon Musk and Peter Thiel credit Trump's win with a shift in tech's political landscape, while stock markets, particularly Tesla and Bitcoin, have surged amid expectations of deregulation and tax cuts.
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Following Ukraine's cross-border strikes into Russia, U.S. markets experienced a downturn, with major indexes dropping by 1%. Investors are also closely watching Nvidia's upcoming earnings report amid rising geopolitical tensions and concerns over stock market volatility.
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The European Commission has fined Meta €798 million for abusing its market dominance by linking Facebook Marketplace to its social network, creating unfair competition for rival classified ad services. Meta plans to appeal the decision, claiming it ignores market realities.
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Disney's recent earnings report revealed strong revenue and optimistic growth projections for the next three years, leading to an 8% surge in stock prices. However, CEO Bob Iger avoided discussing political matters, particularly regarding President-elect Donald Trump, amid ongoing challenges in traditional media and streaming competition.
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Tapestry and Capri Holdings have mutually decided to terminate their $8.5 billion merger agreement due to antitrust concerns raised by the Federal Trade Commission. A federal judge's ruling against the merger led to this decision, with both companies now focusing on their individual growth strategies.
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Elon Musk's appointment as co-head of a new Department of Government Efficiency under President-elect Donald Trump raises concerns about conflicts of interest and the influence of billionaires in politics. This dynamic mirrors historical ties between business magnates and political leaders, with potential implications for regulatory policies and government spending.