South32 Sells Major Aluminium Assets to Alcoa in Deal Worth Up to $5.6 Billion 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat 
Anthropic Brings Claude AI Models to Microsoft Azure Foundry With NVIDIA Blackwell GPUs 
Oil Prices Slip as Iran Talks and Strong Supply Outlook Ease Market Concerns 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Microsoft Reportedly Plans New Job Cuts Across Sales, Consulting, and Xbox 
TSMC CoWoS Capacity Forecast Raised as Mizuho Sees AI Server CPU Demand Surging Through 2027 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Essilor International, the French ophthalmic optics company that designs, manufactures and distributes lenses, was fined by the French Competition Authority (FCA). The company will have to shell out €81 million to settle the penalty with the antitrust regulators in France.
According to Reuters, the FCA handed down its decision to Essilor for alleged unfair business practices. The competition watchdog said that the fine was for the violations that stretch over 11 years.
The authorities explained this week that optic lens maker’s actions had been mapped out to impede the development of online sales for corrective lenses in France. EssilorLuxottica, Essilor’s parent company, will pay €15 million out of the total penalty of €81 million.
The Autorite de la Concurrence said EssilorLuxottica and its Essilor International engaged in practices that blocked online sales of some prescription lenses in the country. The antitrust regulator determined that Essilor abused its dominant position in the lenses distribution market this move has become an obstruction in the growth of online sales of other eye-corrective lens and eyeglasses firms such as DirectOptic, Sensee, and Happyview.
Market Watch reported that as early as 2009, Essilor prevented some online platforms from selling its Essilor or Varilux optic lenses to customers. The authorities added the company refused to deliver its branded lenses as well while also barring the websites from displaying the Essilor logo and trademark. This practice continued for more than a decade, which is why the FCA imposed a hefty fine.
Meanwhile, in a press release, EssilorLuxottica said it is challenging the decision of the FCA. The revealed its intention to file an appeal as it strongly disagrees with the regulators’ decision.
“EssilorLuxottica acknowledges that the French competition authority (FCA) has published today a decision concerning Essilor International,” the French-Italian Ray-Ban manufacturer said. “EssilorLuxottica firmly believes in the legality of its practices and in the relevancy of distributing specific segments of prescription products under conditions that enable us to ensure that consumers can get the best vision correction that is required by their individual vision needs.”
EssilorLuxottica further reiterated that its business practices were fully compliant with the competitive and regulatory conditions in the mentioned period. For its appeal, the firm is confident that it will be able to prove that the FCA’s decision is groundless.
