FINANCE
Mild Winter Threatens Coal Industry
From
www.bloomberg.com –
Coal Miners Brace for ‘Awful Spring’ as Mild US Weather Crimps Demand
Excerpt:
The dramatic turnaround of the US coal industry that’s sent share prices soaring and provided a lifeline for miners is running out of steam.
Milder-than-expected weather that weakened demand has allowed stockpiles to swell, and coal prices are falling. The power-plant fuel also is facing competition from natural gas, which hasn’t been this cheap since late 2020. There are concerns that coal-fired US utilities will seek to delay contracted deliveries this year.
Apple Faces Mounting Anti-Trust Pressures from EU
From
www.marketscreener.com –
Schibsted, publishers look to EU tech rules to resolve Apple antitrust concerns
Excerpt:
BRUSSELS, Feb 8 (Reuters) – Norwegian media groupSchibsted and the European Publishers Council haveurged EU antitrust regulators to ensure that tech rules cominginto play this year will rein in Apple’s powers,especially over its App Store.
The comments from Schibsted, the largest media group in theScandinavia region, and the publishers’ lobbying group come asthe European Commission’s Digital Markets Act (DMA) takes effectin May, targeting Big Tech.
Apple is already in the EU antitrust crosshairs related toits App Store practices in music streaming, in e-books andcompeting apps as well as its mobile payment system Apple Pay.
UK Might Block Microsoft Purchase of Activision
From
www.bbc.co.uk –
Microsoft deal to buy Activision opposed by UK regulator
Excerpt:
Rima Alaily, Microsoft corporate vice-president and deputy general counsel, said: “Our commitment to grant long-term 100% equal access to Call of Duty to Sony, Nintendo, Steam and others preserves the deal’s benefits to gamers and developers, and increases competition in the market.”
Illinois Has Highest Phone Tax Rate at 35 Percent of Bill
From
1440wrok.com –
Illinois Residents Are Hit With U.S.’s Highest Cell Phone Taxes
Excerpt:
“Illinois has the highest rate at just under 35% of your wireless bill that goes towards taxes and fees,” Justin Carlson of the Illinois Policy Institute told The Center Square.
The federal tax rate on wireless plans is 12.24%. Illinois’ state tax on wireless plans of 22.65% is the most expensive for cell phone users nationwide.
No other midwestern state finished in the top 10 of the list, as North Dakota finished at No. 11.
Workplace Surveillance to be Challenged by U.S. Senate
From
www.motherjones.com –
Senate Democrats Are Taking Companies to Task Over Invasive Workplace Surveillance – Mother Jones
Excerpt:
Whether you call it “tattleware,” “bossware,” or “surveillance capitalism,” Sen. Bob Casey (D-Pa.) has had enough of exploitative workplace monitoring technologies. Late last week, Casey and a handful of other Senate Democrats introduced the Stop Spying Bosses Act, which would help protect workers from intrusive employer surveillance both on and off the clock.
The legislation would require “timely and public” disclosures by companies about the data they’re collecting on employees, prohibit businesses from using surveillance practices that obstruct union organizing or monitor workers while they’re off the clock, and create a new division of the Department of Labor to regulate workplace surveillance. Sens. Cory Booker, John Fetterman, Elizabeth Warren, and Brian Schatz are cosponsoring the bill, which has also garnered support from some major labor groups.
Israel Aims to Expand Gas Export Market
From
en.globes.co.il –
Israel intensifies efforts to increase gas exports
Excerpt:
Growing demand for gas throughout Europe and worldwide following the outbreak of the war between Russia and Ukraine has created a limited window of opportunity to export gas from the Middle East to Europe as well as to other countries like India and China.
In this situation, the governments of Israel, Egypt, Cyprus and Greece are striving to speed up handling the issue, and have formulated several different courses of action. Among other things, the governments intend building a new pipeline system that will carry gas from Israel and Cyprus to the liquefaction facilities in Egypt (which will also use the gas for domestic needs), building a liquefaction facility on the eastern shores of Cyprus, build a floating liquefaction facility as part of the expansion of the Leviathan field, and export gas to Europe using tankers.
China High Court Makes Pro Anti-Trust Ruling
From
www.lexology.com –
China’s Supreme Court Ruling Likely to Prompt More Follow-on Antitrust Litigation
Excerpt:
In Short
The Development: China’s Supreme People’s Court recently ruled for the plaintiff in Miao Chong v. SAIC-GM, which marked a rare triumph for a plaintiff in antitrust litigation as a follow-on to an administrative penalty decision. The plaintiff-consumer alleged that a joint venture between General Motors China and SAIC adopted resale price maintenance in the sale of cars that harmed competition.
The Result: The case indicates a shift of the Chinese courts’ approach toward resale price maintenance and, more broadly, their recognition of Chinese antitrust enforcers’ administrative decisions.
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