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Regulation

In Apple Antitrust Trial, Judge Signals Interest in Railroad, Credit-Card Monopoly Cases

“The future of digital commerce on your iPhone could be influenced by how courts resolved questions about market control following technological innovations that disrupted previous generations: credit cards and railroads. With the courtroom battle between Epic Games Inc. and Apple Inc. concluded Monday , U.S. District Judge Yvonne Gonzalez Rogers must now decide if the […]
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Companies

Apple Pay draws antitrust attention

“Apple’s next antitrust battle is shaping up to be over Apple Pay, the company’s digital wallet, as the Covid-19 pandemic turbocharges use of contactless payments…Apple Pay allows users to store their payment card details on their iPhone or Apple Watch and to pay by tapping on a terminal. It is now used by 507m people, […]
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Regulation

U.S., States Poised to Sue Facebook for Monopoly Abuse

“Facebook Inc. will soon be hit by federal and state antitrust lawsuits accusing the social media giant of abusing its dominance and thwarting competition, according to three people familiar with the matter. Lawsuits are expected as soon as this week from the Republican-led Federal Trade Commission and a group of state attorneys general led by […]
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Global

China regulator puts country’s fintech giants on notice hinting at more rules

“China’s top banking regulator on Tuesday questioned the power of the country’s large financial technology companies and hinted at “timely and targeted measures to prevent new systemic risks.” The move appears to be a nod toward more regulations in China’s burgeoning fintech sector.   Over the past few months, Chinese regulators have been growing increasingly […]
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Regulation

Apple Pay limitations spark Dutch antitrust probe

“The Dutch competition regulator has opened an investigation into contactless payments on smartphones, arguing that some systems could stifle innovation in the payments market. There’s no named target for the probe, as per the watchdog’s usual procedures, but the release suggests Apple and its iPhones are the focus.”
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Regulation

Justice Department Files Antitrust Lawsuit Challenging Visa’s Planned Acquisition of Plaid

“The Justice Department filed an antitrust lawsuit Thursday that seeks to block Visa Inc.’s$5.3 billion deal to acquire Plaid Inc., a key player in the financial-technology space.The department brought the case in a Northern California federal court, alleging the deal would eliminate the nascent but significant competitive threat that Plaid poses to Visa in the […]
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Companies

Visa’s Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department

“Visa Inc.’s $5.3 billion deal to buy a key player in the financial-technology space is in jeopardy because of antitrust concerns, according to people familiar with the matter. The Justice Department could decide soon whether it will sue to block Visa’s acquisition of Plaid Inc., a firm that provides the technological infrastructure underpinning an array […]
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Regulation

Justice Department’s Antitrust Chief Plans Shake Up for Stronger Enforcement

“On the financial front, the Justice Department’s oversight and enforcement has been fragmented for years, with areas like banks, credit cards, insurance and securities exchanges each being handled by different sections within the antitrust division. Mr. Delrahim said he is bringing all of these areas into one cohesive group, with the goal of combining internal expertise […]