Regulators

Apple Inc. is embarking on a historic overhaul of its iOS, Safari and App Store offerings in the European Union, aiming to placate regulators set to impose tough new antitrust rules.The revamp will allow customers to download software from outside the App Store for the first time, the company said Thursday. They’ll also be able to use alternative payment systems and more easily choose a new default web browser — addressing two frequent complaints of developers and lawmakers.Elevate Your Tech Prowess with High-Value Skill…

Maintenance work in progress on the runway at the Chhatrapati Shivaji Maharaj International Airport. (Image: PTI)As per orders by DGCA and BCAS, the Mumbai airport operator MIAL has to pay a total fine of Rs 90 lakh, while IndiGo has to pay up Rs 1.2 crore. Air India and SpiceJet have to pay a fine of Rs 30 lakh eachIndia’s aviation regulators on Wednesday imposed hefty fines on three airline services and the Mumbai airport operator for not following standard operating procedures and security protocols.According to orders…

The U.S. Securities and Exchange Commission (SEC) on Monday defended its authority to oversee certain cryptocurrency assets in court, as Binance urged a federal judge to dismiss the regulator's case against the world's largest crypto exchange.Monday's hearing over Binance's request marked the second closely-watched courtroom battle in less than a week that could help define the U.S. securities regulator's jurisdiction over the crypto sector. Last week, Coinbase and the SEC clashed over similar questions.Elevate Your Tech…

A federal judge in Manhattan on Wednesday grilled Coinbase and the US securities regulator about their divergent views on whether and when digital assets are securities, in a case closely watched by the cryptocurrency industry.Coinbase argued against classifying cryptocurrencies as securities by saying that the digital coins are like Beanie Babies, more akin to collectibles than stakes in a company.“It’s the difference between buying Beanie Babies Inc and buying Beanie Babies,” said the Coinbase lawyer William…

Credit: Unsplash/CC0 Public Domain In their auditing capacity, accounting firms, such as the "Big Four"—Deloitte, EY, KPMG and PWC—function as watchdogs for publicly traded companies. They're tasked with ensuring financial disclosures are accurate and above board. But who watches the watchdogs? The Sarbanes-Oxley Act of 2002 created the Public Company…

Chinese online gaming giant Tencent Holdings saw its shares stage a mild rebound on Wednesday, the first day of trade after regulators vowed to make improvements to proposed rules that had sent stock in gaming companies plunging.Its Hong Kong-listed shares climbed 3% in morning trade after a 12% tumble on Friday. Hong Kong markets were closed on Monday and Tuesday for public holidays.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate…

State regulators have rejected Xcel Energy-Colorado’s proposed electric resource plan in favor of a less costly one, cutting about $3 billion from the overall price tag. But environmental groups are criticizing the decision because it would reduce the level of renewable energy sources planned by the utility and add more new natural gas generation. The Colorado Public Utilities Commission endorsed the alternative proposal during a meeting last week. The PUC will continue deliberations this week on the rest of Xcel’s plan,…

Among the several deals that have fallen apart recently, Adobe's $20 billion takeover of Figma, an upstart design software maker, is among the most instructive.The companies had promised it was a way to "usher in a new era of collaborative creativity," but regulators in three jurisdictions saw it as an unacceptable effort by a software giant to buy a promising future rival. To Dylan Field, Figma's CEO, that contrast underscored a fundamental divide between how businesses and regulators think of competition.Elevate Your…

Adobe Inc. walked away from its $20 billion acquisition of startup Figma Inc. after clashing with regulators in Europe and the UK. Adobe will pay Figma a $1 billion termination fee, the companies said in a statement on Monday. They saw “no clear path” to getting regulatory approvals from the European Commission and the UK's Competition and Markets Authority.  Adobe, the dominant force for years in such creative software as Photoshop and Illustrator, announced the purchase of Figma in September 2022.  The acquisition,…

The US government took the first step Tuesday toward requiring new cars to have technology that checks whether the driver is drunk.At an event in Washington, DC, officials with the National Highway Traffic Safety Administration, the nation’s top road safety regulator, said the technology could help prevent thousands of annual road deaths involving alcohol. Almost 13,400 people died in US alcohol-related crashes in 2021 alone, NHTSA figures say.The agency is still exploring how best to precisely detect and measure…