Markets

EU Launches Landmark Probes into Apple, Alphabet, and Meta under New Digital Markets Act

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BRUSSELS – The European Union has launched investigations into tech giants Apple, Alphabet, and Meta under a groundbreaking new law aimed at curbing their market dominance. The European Commission announced on Monday that it will probe whether Apple and Alphabet have unfairly favored their own app stores, as well as Meta’s use of personal data for advertising. These investigations mark the first application of the Digital Markets Act (DMA), which came into effect earlier this month to address the influence of large online platforms. If found in violation, the companies could face substantial fines of … Read more

San Francisco Faces Lawsuit Over Neglected Open-air Drug Markets and Unsafe Conditions in Tenderloin Neighborhood

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SAN FRANCISCO — A group of residents and businesses in San Francisco’s Tenderloin neighborhood is planning to file a federal lawsuit on Thursday, accusing the city of allowing open-air drug markets and crowded encampments to persist. This legal challenge reflects long-standing frustrations over the street conditions in the area. The lawsuit comes at a time when the city is grappling with how best to address its homeless and opioid crises. This tension is also playing out in the difficult re-election campaign for Mayor London Breed, who has made these issues her top priority. The lawsuit, … Read more

Judge’s Battle with Argentina: An Inside Look at the Landmark Case That Reshaped Sovereign Debt Markets

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New York, NY – Argentina’s notorious history of defaults and legal battles in U.S. courts is highlighted by its largest default to date: a staggering $100 billion in bonds in December 2001. Despite restructuring 76% of this debt in 2005, offering investors just 34 cents-on-the-dollar, approximately $20 billion of the defaulted bonds holders refused to accept the terms and turned to the courts for resolution. What followed was a decade-long legal battle, overseen by Judge Thomas P. Griesa of the United States District Court for the Southern District of New York, who grew increasingly frustrated … Read more