(VOR News) – In its appeal against a €1.5 billion competition punishment ordered by the European Commission, Google has had success.

The Big Tech group won this one. Brussels’ regulatory authorities are intensifying their probe of the company simultaneously as this comes to light.

Although it agreed with “most of the commission’s assessments” that the company had used its dominant position to exclude competitor online advertisers, the General Court of the European Union (EU) announced on Wednesday that it had reversed the significant fine that had been imposed against Google in the previous case.

The corporation had been charged with excluding rivals from online advertising by exploiting its strong position.

The competition chief for the bloc, Margrethe Vestager, said that starting in 2006 and running until 2016, the search behemoth had imposed anti-competitive limitations on third-party websites for ten years.

This was said in reference to the 2019 start of litigation against Google.

The €1.5 billion fine she defended by saying it was reasonable would reflect the “serious and sustained nature” of the infraction. She also said the fine was reasonable.

The commission—the executive part of the European Union—had failed, according to the General Court, which is based in Luxembourg, “to take into account all the relevant circumstances in its assessment of the duration of the contractual clauses that it had found to be unfair.” This was the General Court’s conclusion.

Following the ruling, the commission released a statement saying it “took note” of the outcome and that it “will carefully study the verdict and reflect on possible next steps.” Given the outcome, it is expected the commission will launch an appeal.

Google has asserted that this issue is related to a very specific subset of text-only search ads put on a limited number of websites controlled by publishers. We changed our contracts in 2016 to cut out sections pertinent to the issue. These changes were done even prior to the commission’s conclusion announcement.

We are relieved that the court decided to reverse the fine as it acknowledged that the previous decision included mistakes. The whole decision will be closely studied with great thoroughness.

Over the past few years, the European Union has launched three distinct actions against Google, resulting in fines of around 8.25 billion euros across all.

Google got these laws from the EU.

Antitrust action has been accused of being too slow and ineffectual; some have claimed that the massive technological business has already taken over the online advertising sector.

The European Commission (EC) suffered a major blow on Wednesday following the ruling of the European Court of Justice, which said that the search engine had abused its market power by ranking its shopping services higher than those of its rivals.

In another case, the commission had before triumphed over Google. This follows the accomplishment of the commission already. At that time, Google was fined twenty-24 billion euros, which the highest court in the European Union affirmed.

About Google’s dominant position in the advertising technology sector, Brussels has not yet decided about the lawsuit the company has been targeted with. Brussels had threatened to split the company at the end of the previous year, as the only practical way to allay worries about competition.

Those who directly know the current state of affairs claim that the European Union is still debating whether or not to act on the threat and apply more fines to Google. These people know personally the continuous problem.

Vestager has charged technology businesses with not adhering to European Union standards developed here. She is preparing to leave her role as antitrust enforcer in the next weeks, hence this claim comes as natural.

Not one, not two, not three, but I am working on my fourth Google lawsuit right now in a recent Financial Times interview. “I have not dealt with any of these cases using Google.” The fact that successful market players still believe they shouldn’t compete according to their qualities is an intriguing phenomenon that makes one reflect.

SOURCE: FT

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(VOR News) – Intel shares are expected to increase in value before the market opens on Tuesday after the chipmaker announced that its foundry unit would be producing some unique artificial intelligence processors for Amazon Web Services as part of its initiative to revitalise the company.

This announcement came before the market opened a day earlier. In an effort to revitalise the company, this announcement was made on the corporation’s behalf.

During the late hours of Monday night, CEO Pat Gelsinger sent out an email to all of the employees of Amazon, in which he made the revelation that Intel will develop an artificial intelligence fabric processor for the cloud services division of Amazon.

The foundry industry is where Intel will be building the chip in the future. In light of the difficulties that the foundry company is now experiencing,

Gelsinger said the company would become a subsidiary of Intel.

Gelsinger has stated that the formation of a subsidiary structure will make it feasible to gain access to significant benefits. This is something that will be attainable.

“It offers our external foundry customers and suppliers a more distinct separation and independence from the rest of Intel,” the company claimed in its release. “It is a significant innovation.”

Importantly, it also provides us the liberty to examine independent sources of funding in the future and to manage the capital structure of each company in order to foster growth and the generation of shareholder value. Both of these things are important. There is a correlation between the two of these factors and the generation of shareholder value.

Harlan Sur, who works for JP Morgan, is of the opinion that the next step that should be taken is to change the foundry firm into a subsidiary. He believes that this is the best and most appropriate course of action.

According to the analyst, “We believe this move is a natural progression to drive better transparency and decision making/efficiencies and therefore should not be viewed as a surprise,” which was written in a note that was distributed to clients. “We believe this move represents a natural progression.” “We believe this move should not be viewed as a surprise.”

As a result of the transition, Sur is of the opinion that it is possible that the corporation will be divided into various entities over the course of the coming several years.

Intel is a concept that Sur regards as feasible.

It has been suggested that a board of directors be constituted for the subsidiary in order to guarantee that the subsidiary would be managed by directors who are not affiliated with the parent company on any level.

In addition to that, Gelsinger offered an update on the several cost-cutting efforts that Intel is now doing through its various initiatives. There was an announcement made by the chief executive officer of the chip manufacturer at the end of the year, stating that the firm had achieved more than half of its aim of decreasing its workforce by around 15,000 employees.

The establishment of programs that enabled voluntary early retirement and separation on a voluntary basis was the means by which this was accomplished.

According to him, “difficult decisions” will still need to be taken, and by the middle of October, the staff members who will be affected by the issue will be informed about the situation. He went on to add that the situation will be communicated to them.

In addition, Intel intends to sell or part with around two-thirds of its real estate holdings located all over the world by the time the year comes to a close. The completion of this task will take place concurrently.

During premarket trading, the share price of Intel Corporation increased by more than seven percent when compared to the previous trading session.

SOURCE: AP

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The Supermoon and Harvest Moon in September 2024: When to See It

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(VOR News) – Not only is it September’s full “Harvest Moon” but it’s also a supermoon, meaning it’s a little bit bigger and brighter than a regular moon. This month is going to be extremely special if you are a person who observes the moon.

The International Space Agency (NASA) predicts that the full moon will occur on Tuesday, September 17, 2024, at 10:35 p.m. Eastern Daylight Time. For around three days, starting on Monday night and ending on Thursday morning, the moon will appear to be full. This is going to start on Monday night and go through Thursday morning.

The joy of witnessing the night sky will be increased by the partial lunar eclipse that occurs on the night of the full moon. This will be a fantastic chance for those who observe the night sky.

The term “harvest moon was applied to this moon by whom or what?

The full moon that falls on September 22, as per the calendar for this year, is the closest to the autumnal equinox. This specific moon is called the harvest moon.

For a very long time, the harvest moon has been associated with the time of year when crops need to be plucked from the fields. The harvest moon has been associated with this date.

“In the days before tractors with headlights, having moonlight to work by was crucial to getting the harvest in quickly before rain caused it to rot,” says Sky & Telescope magazine editor Alan MacRobert. The remark was directed at the necessity of having moonlight to work by. This was the exact same scenario in the days before headlights on tractors.

Farmers had to work after the sun set and were very busy during this time of year, according to NASA. The reason for this was that a lot of crops ripen in the late summer and early autumn. This meant that farmers had to work well after the sun had set. The harvest moon came about as a result of the realisation that moonlight was a necessary element of farming.

The National Aeronautics and Space Administration (NASA) states that the phrase “harvest moon” was initially used in print in 1706. The Oxford English Dictionary states that this data is currently accessible.

What does the word “supermoon” actually Harvest Moon mean?

A supermoon is a cosmic conjunction that occurs when the moon’s orbit puts it closer to Earth than it would normally be. This is the phenomenon’s scientific name.

The moon may appear slightly larger and brighter than it would normally be due to the phenomenon when anything like this occurs.

According to NASA’s announcement, “different publications use slightly different thresholds for deciding when a full moon is close enough to the Earth to qualify as a supermoon.” “Because the orbit of the moon is not a perfect circle, the moon is sometimes closer to Earth than at other times during its orbit.”

A supermoon is approximately 15% brighter and roughly 7% bigger than a regular full moon. Its brightness is also about fifteen percent greater.

The supermoons scheduled for October 17 and November 15 will follow the one that happened on September 17. There will be four supermoons in a row, with the present one being the second.

There’s also a partial lunar eclipse that happens in September during the full moon.

A lunar eclipse, according to the National Aeronautics and Space Administration (NASA), happens when the Earth’s shadow falls on the moon, turning it either pale or a brilliant crimson colour over a few hours.

We call this phenomenon a lunar eclipse. The partial lunar eclipse that is set to occur on September 17 will be the consequence of an unsatisfactory alignment of the sun, moon, and Earth. This means that only a small portion of the moon will be covered by the shadow projected by Earth.

On Tuesday at ten forty-four minutes past the hour, Eastern Time, we will witness the maximum eclipse. At that same instant, the entire upper eight percent of the moon will be completely obscured by shadow.

On March 14, 2025, there will be a total lunar eclipse that can be seen from the Americas. It is anticipated that this eclipse will occur soon.

 

SOURCE: USA

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