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Trading Ideas

UPDATE 1-Axel Springer unit, others say Google still playing unfairly, want EU to act

Axel Springer’s price-comparison shopping service Idealo and 40 other European peers have accused Alphabet Inc’s Google of tilting the playing field in its favour and urged EU antitrust regulators to enforce a ruling against the company. The joint call by the group ratchets up pressure on European Competition Commissioner Margrethe Vestager to take further action against Google, the world’s most popular internet search engine, two years after she ordered it to stop favouring its own price comparison shopping service (CSS). The companies, the largest group to take a stand against Google to date, in a joint letter to …read more […]

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Trading Ideas

UPDATE 1-Carlyle Group set to make bumper profit from SBI Cards IPO

SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI), aims to raise roughly 90 billion rupees ($1.25 billion) in an initial public offering, according to a source familiar with the matter, in a deal set to make a bumper profit for U.S private equity firm Carlyle Group. SBI Cards is 74% owned by SBI, India’s largest lender, while Carlyle Group owns the remaining 26%, a stake which it bought in 2017 from the lending arm of General Electric for about 20 billion rupees. SBI will divest 4%, while Carlyle is set to …read more […]