financetom
Business
financetom
/
Business
/
Update: Google Faces UK Scrutiny as Regulator Proposes Strategic Market Status Designation
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: Google Faces UK Scrutiny as Regulator Proposes Strategic Market Status Designation
Jun 24, 2025 2:53 AM

05:36 AM EDT, 06/24/2025 (MT Newswires) -- (Updates to include Google's ( GOOG ) response in the fifth paragraph.)

Britain's Competition and Markets Authority said Tuesday it has proposed to designate Alphabet (GOOG) unit Google ( GOOG ) as having "strategic market status" in the provision of general search and search advertising services.

The regulator is seeking feedback on the proposed decision by July 22 and has set out a roadmap on how it might tackle potential conduct requirements and pro-competition interventions if Google ( GOOG ) is designated as having strategic market status, it said.

The statutory deadline for the issuance of the strategic market status decision is Oct. 13. If designated, the regulator may force the company to ensure more fair rankings for businesses that show up on Google ( GOOG ) search, among other changes.

"These targeted and proportionate actions would give UK businesses and consumers more choice and control over how they interact with Google's ( GOOG ) search services - as well as unlocking greater opportunities for innovation across the UK tech sector and broader economy," Reuters quoted CMA Chief Executive Sarah Cardell as saying.

A Google ( GOOG ) spokesperson said the proposal "could have significant implications for businesses and consumers in the UK" and cautioned that overly aggressive regulation could hurt the UK's economy.

"We're concerned that the scope of the CMA's considerations remains broad and unfocused, with a range of interventions being considered before any evidence has been provided," said Oliver Bethell, Google's ( GOOG ) senior director of competition.

"Proportionate, evidence-based regulation will be essential to preventing the CMA's roadmap from becoming a roadblock to growth in the UK," he said. "As we move into the next phase of this process, we will continue working constructively with the CMA to avoid measures that would limit opportunities for UK businesses and consumers. "

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
REV Group's Fiscal Q1 Adjusted Net Income Rises, Net Sales Fall
REV Group's Fiscal Q1 Adjusted Net Income Rises, Net Sales Fall
Mar 5, 2025
07:24 AM EST, 03/05/2025 (MT Newswires) -- REV Group ( REVG ) reported fiscal Q1 adjusted net income Wednesday of $0.40 per diluted share, up from $0.25 a year earlier. Four analysts polled by FactSet expected $0.27. Net sales for the quarter ended Jan. 31 were $525.1 million, down from $586 million a year earlier. Three analysts surveyed by FactSet...
Campbell's lowers full-year forecasts on weak demand
Campbell's lowers full-year forecasts on weak demand
Mar 5, 2025
(Reuters) - Campbell's Co lowered its annual sales and profit forecasts on Wednesday, signaling weak demand for snacks amid intense competition from cheaper private-label brands. The company's shares were down about 4% to $39 before the bell. Consumer packaged food firms such as Campbell's and PepsiCo have seen cautious spending from customers, particularly related to snacking, against the backdrop of...
Nvidia-Backed CoreWeave to Acquire Weights & Biases
Nvidia-Backed CoreWeave to Acquire Weights & Biases
Mar 5, 2025
07:26 AM EST, 03/05/2025 (MT Newswires) -- Nvidia ( NVDA )- (NVDA) backed CoreWeave (CRWV) said Tuesday that it reached a deal to acquire Weights & Biases, a platform for artificial intelligence developers. The company said the transaction will combine its infrastructure and managed cloud services with the Weights & Biases platform for accelerate AI roadmaps and time to market....
Jazz Pharmaceuticals to Acquire Chimerix in $935 Million Deal
Jazz Pharmaceuticals to Acquire Chimerix in $935 Million Deal
Mar 5, 2025
07:26 AM EST, 03/05/2025 (MT Newswires) -- Jazz Pharmaceuticals ( JAZZ ) has agreed to acquire Chimerix ( CMRX ) for $8.55 per share in cash, representing a total consideration of about $935 million, the companies said Wednesday. The deal consideration reflects a roughly 72% premium based on the company's closing trading price Tuesday. Upon the successful completion of its...
Copyright 2023-2026 - www.financetom.com All Rights Reserved