Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
US-India Trade Bombshell: Tariffs Slashed to 18% — Rupee Soars, Sensex Explodes 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Instagram Outage Disrupts Thousands of U.S. Users 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Canon went to court to challenge the EU's sanction related to its acquisition of Toshiba Medical Systems Corporation in 2016 but was defeated. With the decision, the European Union's General Court upheld the €28 million €28 million fine that was previously imposed on the company.
According to Reuters, Canon, a Japanese optical, imaging, and industrial products manufacturer, is now facing a hefty fine, and this was revealed on Wednesday, May 18. It was the second-top court in Europe that sustained the sanction that was originally handed down in 2019.
The European Commission stated in its 2019 decision that Canon violated the rules by the "warehousing" two-step transaction structure where an interim buyer has been assigned to buy the medical unit of Toshiba before it could actually obtain regulatory clearance from the EU's competition agency.
It was reported that under the EU merger regulations, companies that close a deal first without obtaining the EU regulatory approval could be fined by up to 10% of the deal price. The fine is also applicable if companies provide misleading information during the regulatory review.
This unusual method of acquisition allowed Toshiba to book proceeds just in time for the financial year-end ending in March. Originally, this would have been impossible because the company was cash-strapped due to its accounting scandal.
The EU competition slapped Canon with a fine for the said "warehousing," and this week, the Luxembourg-based General Court backed the decision. The judge said, "The European Commission was therefore right to observe that the Court's case-law distinguishes between the concepts of 'concentration' and 'implementation of a concentration.'"
Meanwhile, as previously reported by ITN News, Toshiba Medical Systems' name was changed to Canon Medical Systems Corp. after the acquisition was completed following the deal agreement in 2016.
Canon Inc. and Canon Medical Systems Corp. announced the new name of the newly-acquired company in January 2018. Canon Group was declared the winner in the bidding for the acquisition of CMS with its reported bid of $6.21 billion.
