Meta has been issued a record 1.2 billion euro fine ($1.3 billion) by a European Union privacy regulator for the way it handles user data when transferring it between Europe and the…
U.K. Introduces Bill Boosting Regulator Power to Curb Big Tech Competition Abuses
The government of the United Kingdom has published a draft bill that would give its independent competition regulator extended powers to fine Big Tech companies for competition abuses. The Digital Markets, Competition…
Ford Cuts 3,800 Jobs in Europe as Shift to Electric Vehicles Continues
Ford has announced it will cut 3,800 jobs in Europe over the next three years as the automaker switches its focus to electric vehicle production and adopts a “leaner” structure. The car-making…
European Union Preparing to Challenge Microsoft’s $69bn Activision Blizzard Acquisition – Report
The European Union is ready to challenge Microsoft’s proposed $69 billion deal to buy video game producer Activision Blizzard, potentially making it even more difficult for the tech giant to complete the…
Swedish Mining Company Finds Europe’s Largest Rare Earth Deposit
A Swedish mining company has discovered Europe’s largest deposit of rare earths — minerals used to make products like smartphones and electric vehicles. In 2021, 98% of rare earths used in the…
TikTok Reveals Staff in China Get Access to European Users’ Data
The Chinese social video app TikTok has confirmed that some of its employees in China are able to access the data of accounts in the European Union. The company will update its…
Amazon to Invest €1bn to Electrify European Fleet
Amazon will spend €1 billion over the next five years to electrify its delivery fleet in Europe, Reuters has reported. Currently the e-commerce giant has around 3,000 zero-emission last-mile delivery vans in…
Porsche Shares Rise After IPO
Porsche made its stock market debut on Thursday, in one of Europe’s biggest ever public offerings. The IPO, which values the automaker at around 75 billion euros, appears to have been a…
Cinema Giant Cineworld Files for Bankruptcy Protection
The second largest cinema chain in the world, the U.K.’s Cineworld, has filed for bankruptcy protection in the United States. The group runs 751 movie theaters in the world, including more than…
Porsche to Go Ahead with IPO
The iconic automaker Porsche is to go public in the next few weeks, despite turbulent economic conditions putting off other major deals. Volkswagen first contemplated spinning off Porsche in February, just before…