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Google cops massive fine by French regulators

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Google has been slapped with multi-million fine by France’s antitrust watchdog

Regulators slapped the tech giant with a$593 million fine for failing to comply with temporary orders it had given to hold talks with the country’s news publishers over ‘payment for content’.

The US tech giant has been given two months to come up with proposals on how it would compensate news agencies and other publishers for the use of their news. If it fails, it would face additional fines of up to 900,000 euros per day.

Failed talks between Google and publishers ignite accusations

News publishers APIG, SEPM, and AFP have accused the tech giant of having failed to open talks in good faith with them to find common ground for the remuneration of news content online, under a recent EU directive that creates so-called “neighboring rights”.

The case is itself focused on whether Google breached temporary orders issued by the antitrust authority, which demanded such talks take place within three months with any news publishers that ask for them.

APIG, which represents most major print news publishers, remains one of the plaintiffs, in spite of having signed a framework agreement since it has been put on hold pending antitrust decision, sources have told Reuters.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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Big tech stocks tumble amid market uncertainty

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Big tech companies are struggling in the markets this quarter as interest rates rise to battle inflation

Russia’s invasion of Ukraine has devalued tech stocks causing further supply chain disruptions and sending the broad S&P 500 index down about 5 per cent.

Rising interest rates triggered more severe plummets with the S&P dropping another 16 per cent and the Nasdaq Composite index by 22 per cent.

Tesla’s stock took a huge hit sinking to nearly 38 per cent its largest decline since 2010.

Amazon saw similar results falling by 35 per cent the most in over 20 years.

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Google to pay millions to app developers

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App developers are accusing Google of tempting users into making in-app purchases.

The lawsuit relates to money that was made by app creators for Android smartphones.

The lawsuit was filed in a San Francisco court, where the 48,000 app developers are believed to have been affected.

“Following our win against Apple for similar conduct, we think this pair of settlements sends a strong message to big tech: the law is watching, and even the most powerful companies in the world are accountable when they stifle competition.”

Steve Berman, ATTORNEY FOR the Android developers.

Google says the settlement’s funds will support developers who have made less than USD $2 million in revenue between 2016 and 2021.

“A vast majority of U.S. developers who earned revenue through Google Play will be eligible to receive money from this fund, if they choose,” the company says.

Google says it will charge developers a 15 per cent commission on their first million in revenue.

The court is yet to approve the proposed settlement.

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Tesla deliveries expected to fall – here’s why

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Tesla deliveries are expected to drop significantly in the second quarter, as prolonged Covid lockdowns in China and supply chain issues take their toll

The company is also struggling to ramp up its new factories, with Tesla boss Elon Musk seemingly distracted by his very public pursuit of Twitter.

Tesla has been plagued by production glitches in China and slow output growth at new factories in both Texas and Berlin.

Experts predict deliveries will slump to just over 295,000 vehicles for the second quarter.

This would be down from the company’s record of 310,000 in the preceding quarter, marking Tesla’s first quarter-on-quarter decline since 2020.

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