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Google to appeal EU fine

Alphabet’s Google has filed to appeal the $5bn European Union (EU) fine for anti-competitive behaviour by its Android mobile operating system (OS) which is found on c. 80% of the world’s smartphones. Reuters quotes Google as saying “We have now filed our appeal of the EC’s Android decision at the General Court of the EU.” The company referred to arguments put forward by CEO Sundar Pichai on the day of the EU ruling in July, of which the main one is that Android has created more choice for consumers, not less.

Announcing its decision in July, the European Commission (EC) said Google had abused its market dominance since 2011. It accused Google of illegal practices including forcing manufacturers to pre-install Google Search and its Chrome browser together with its Google Play app store on their Android devices. According to Reuters the case could take several years before judges rule on it.





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WEBINAR | The Navigator – Anchor’s Strategy and Asset Allocation, 2Q24

Anchor CEO and Co-CIO Peter Armitage will host the webinar, provide an introduction to current global and local market conditions and give his thoughts on offshore equities. Together with Head of Fixed Income and Co-CIO Nolan Wapenaar, Pete will also discuss Anchor’s strategy and asset allocation for 2Q24, focusing on global equities and bonds. In addition, Fund Manager Liam Hechter will provide insights into local equities, highlighting some investment ideas; Global Equities Analyst James Bennet will discuss Ferrari and give an update on Tesla, and finally, Analyst Thomas Hendricks will participate in a Q&A with Peter, explaining the 10-year US Treasury to attendees.