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Google hit with new EU antitrust complaint

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A Danish online job-search rival has filed an antitrust complaint against Google with EU regulators, alleging the online search giant had allegedly used its market power to push its own service, Google for Jobs

Google was hit with a new antitrust complaint on Monday (June 27), filed to EU regulators by a Danish online job-search rival.

Jobindex alleges the Alphabet unit has used its market power to favour its own job search service.

Google for Jobs launched in Europe in 2018 and triggered criticism from 23 online job-search websites, including Jobindex, the following year.

The latest complaint could accelerate EU antitrust chief Margrethe Vestager’s scrutiny of Google For Jobs three years after it first came under her microscope.

The European Commission and Google did not immediately respond to requests for comment.

Vestager has fined Google more than $8.4 billion in recent years for various anti-competitive practices. Google has previously said it made changes in Europe after complaints from online job-search rivals.

Jobindex founder and CEO Kaare Danielsen said his company had built up the largest jobs database in Denmark by the time Google for Jobs entered the local market last year. But he said it soon lost 20% of search traffic to Google.

He said Google wasn’t just stifling competition, but also harming labor markets.

Jobindex said it had seen examples of free-riding, with some of its own job ads copied without its permission.

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Brad Pitt foundation to pay $20.5m

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Brad Pitt fronted a campaign following the natural disaster, promising to build a large number of environmentally-sustainable homes at the epicentre of the storm, and then sell them to the flood victims below cost.

The bold concept was met with fanfare from right around the world, with Pitt himself labelling the scheme as “a proof-of-concept for low-income green building”.

However, the properties began to deteriorate almost immediately after the owners moved in.

13-years later, the construction company has agreed to pay over $20 million in compensation to those affected.

Pitt has long denied any responsibility for the failures.

Photo Credit: Daily Mail

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This investor sold its equity stake in Twitter during Musk takeover saga

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A Securities and Exchange filing has showed active investor Elliott Management has sold its equity stake, as well as cutting its exposure, to Twitter

The company previously held 10 million stocks in the social media giant, and was one of its major shareholders.

Twitter’s stock price dramatically rose in April, on the back of Elon Musk wanting to buy the company for approximately $44billion.

The after-effects of the takeover saga are still ongoing, with the billionaire and Twitter embroiled in a legal battle.

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Why a Bitcoin mining company is going against a major merger

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Bitcoin mining company PrimeBlock has ended plans to go public via a specialpurpose acquisition company (SPAC) merger with 10X Capital.

The firms terminated the agreement via mutual consent, according to a US Securities and Exchange Commission filing.

Plans for the merger were confirmed in April, with expectations that it would be completed in the second half of 2022, carrying an enterprise value of $1.25billion.

No official reason has been given for the decision, but it is believed the volatility of both the crypto and mainstream markets in recent months may be a factor.

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