Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Australian Household Spending Dips in December as RBA Tightens Policy 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Google was hit with a fine in France as the anti-trust regulators in the country said that it failed to comply with an order to arrange fair deals with the French news publishers for content copyright. The American tech company was slapped with a $593 million fine or around €500 million.
Google’s offense for the penalty
According to CNBC, the French competition regulators revealed the penalty it leveled on Google on Tuesday, July 13. The Autorité de la concurrence, the national competition regulator of France, said the company broke a ruling that was handed down in April 2020 where it was ordered to negotiate “in good faith” licensing deals with news agencies and publishers for the use of their copyrighted content.
In January of this year, it was noted that Google agreed to copyright deals with the publishers. Based on what was agreed upon, the firm will arrange individual licenses with the members of the press alliance. The deal should cover related rights and give them access to Google’s News Showcase.
However, it appears that Google failed to follow through with the deal, so the French anti-trust regulators have stepped up to raise the issue. The agency further said that Google did not include a discussion on remuneration for current uses of content covered by the “neighboring rights” for the news publishers. It was said that Google also restricted the extent of discussions with the media by declining to add the use of press images in the negotiation.
The highest fine set by France’s competition watchdog
The American company will be paying more than half a billion dollars, and it was reported that this is the highest amount that the French regulator has ever imposed. Google said that the French agency’s decision is very disappointing.
“We have acted in good faith throughout the entire process,” the company’s spokesman stated. “The fine ignore our efforts to reach an agreement, and the reality of how news works on our platforms.”
Bloomberg reported that Google should now come up with proposals, and they should be submitted within the next two months. The company must lay out the plans on how it will be compensating the news agencies and publishers for the use of the news content. If it fails to forward a proposal on the due date, the company may face additional fines of €900,000 per day.
