Google asks court to halt app store overhaul as it mounts new appeal
Empower your mind, elevate your skills
Alphabet's Google on Friday asked a US appeals court to keep on hold an order that required sweeping reforms to the technology giant's app store Play, after losing a key ruling this week in a lawsuit brought by "Fortnite" video game maker Epic Games.Google in a new filing to the San Francisco-based 9th US Circuit Court of Appeals said it planned to further challenge the lower court's October injunction, which a panel of appeals judges upheld on Thursday in a unanimous decision.The injunction, which was paused while the 9th Circuit considered the case, required Google to restore competition by allowing users to download rival app stores within its Play store and by making Play's app catalog available to those competitors, among other reforms.Google said the lower court's injunction is expected to take effect in 14 days absent a court order blocking it. The filing said an administrative stay of the order was necessary to let the company later ask the full appeals court to take up the appeal, and if necessary seek review by the US Supreme Court.Google and Epic did not immediately respond to requests for comment.Epic in its 2020 lawsuit accused Google of monopolizing how consumers access apps on Android devices and pay for transactions within apps. The Cary, North Carolina-based company convinced a San Francisco jury in 2023 that Google illegally stifled competition.US District Judge James Donato in San Francisco issued his Play store injunction against Google in October after a jury earlier ruled for Epic. Google has denied any wrongdoing.In upholding the injunction on Thursday, a 9th Circuit panel said the record in Epic's lawsuit was "replete with evidence that Google's anticompetitive conduct entrenched its dominance."The case is Epic Games v. Google , 9th US Circuit Court of Appeals, No. 24-6256.For Epic: Gary Bornstein of Cravath, Swaine & MooreFor Google: Jessica Ellsworth of Hogan Lovells
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
6 minutes ago
- Economic Times
Wall Street banks lose ground in Europe as tariffs spook clients
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads As US President Donald Trump has ratcheted up his rhetoric against trading partners in Europe - corporates across the continent are taking a result, some companies have begun to diversify their banking relationships away from the giants of Wall Street, according to data compiled by Bloomberg. That's been a boon for Europe's leading banks, which have been actively vying to win the extra business."Some players are saying that it's better to go to European or French investment banks for advice on financing or mergers and acquisitions," said Arnaud Petit, managing director of Edmond de Rothschild's corporate finance business. Deutsche Bank AG chief executive officer Christian Sewing sees similar in potential clients' requests for proposals: "It is happening every day with client wins and RFPs and new business that we put on." So far this year, roughly half of the euro bond deals from non-US companies did not involve any of the five biggest US banks, according to data compiled by Bloomberg. That's up five percentage points from a year sterling bonds the gap has widened even further - Wall Street banks were shut out of just 47% of deals throughout all of last year. So far this year, though, they've been excluded from 64% of them. The emergence of the ability of a few European banks "to be able to offer competitive services and advice to clients" has created a desire among clients to switch, according to UBS Group AG chief executive Sergio Ermotti. "We believe we are well placed to continue to benefit from that diversification."Even before Trump's trade war kicked off in earnest, the biggest of the US banks warned that it was starting to see an impact. By April, JPMorgan Chase & Co. had already lost "a couple" of bond deals tied to the tariff uncertainty, with companies opting for local banks instead, chief executive officer Jamie Dimon said in an interview with Fox Business at the time. He warned that the tumult was "causing cumulative damage including huge anger at the United States."The latest example of a win for non-US banks came this week, when Zurich-based insurer Chubb issued an offshore yuan-bond. It opted for Standard Chartered Plc to help take on the deal. The bank was told: "We want to bank with the regional champions, rather than just with global banks in general," Standard Chartered chief financial officer Diego de Giorgi said. "Because we think that you guys bring specific skills in a world that is fragmenting."
Time of India
20 minutes ago
- Time of India
Unilever India's new CEO Priya Nair has to invigorate a sluggish consumer giant
Hindustan Unilever Ltd .'s new Chief Executive Officer Priya Nair is inheriting India's largest consumer goods maker that has seen stuttering growth in the last few years. While the Indian unit of Unilever Plc posted a forecast-beating quarterly profit last week, Nair, who took over the CEO role on Aug. 1, has her task cut out in sustaining this momentum. Explore courses from Top Institutes in Please select course: Select a Course Category Degree Project Management CXO Operations Management Technology Management Product Management others Others Data Science Artificial Intelligence Cybersecurity Public Policy MCA healthcare Leadership Data Science MBA Design Thinking Digital Marketing Data Analytics Finance PGDM Healthcare Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details The company's stock has inched up about 4% in the last three years while the benchmark NSE Nifty 50 index surged almost 42%. Its volume growth has been sluggish. Sales expansion has been a fraction of the 2022 levels while disruptor local brands are eating into its market share across product categories. Often seen as the bellwether of the consumer sentiment in the world's most-populous nation, Hindustan Unilever, or HUL , also was dragged down by a consumption slowdown in India over the past year. So strong was investor disappointment that the sudden announcement about Rohit Jawa stepping down as the CEO half-way through his term to make way for Nair stoked a stock rally on July 11. Live Events The first woman CEO for HUL was earlier serving as the president for the beauty unit and the Global Chief Marketing Officer at the London-based parent. Nair has led the Indian unit's home care, beauty and wellbeing businesses in the past. Nuvama Wealth Management called Nair 'a more aggressive leader' in a note soon after her appointment was announced. Nair's 'focus remains on delivering volume-led competitive growth that is profitable and sustainable,' a representative for Unilever's India unit said in an email. The company will 'share more details at an appropriate time.' Not Kept Pace Hindustan Unilever 'has had a problem for multiple years,' said Arvind Singhal, founder at retail consultancy Technopak Advisors. 'India has been changing rapidly and they haven't been able to keep pace with India's changes.' The seller of Bru coffee and Dove soaps was battling a consumer demand slowdown in the past few quarters as picky city buyers chose to spend less or switched to artisanal products. Hindustan Unilever gets about two-thirds of its sales from urban India, while rural areas contribute the rest. 'The firm will have to have a fresh distribution strategy and rejig margin structure,' Singhal said. It will also need to 'develop new products,' and figure out the categories which can be rebuilt, he said. Sales growth in the recent past has been tepid too, dragged down by global price volatility in raw materials like palm oil and coffee, though the June quarter saw the return of revenue expansion. Nair will also be in the global spotlight. Unilever's new CEO Fernando Fernandez told analysts last week after its quarterly earnings that it would be investing a 'disproportionate' amount in the US and India, adding that 'momentum is building in India.' India is Unilever's second-largest market by revenue after the US and the largest by volume. Fernandez praised Nair's 'deep understanding of our home and personal care business in India that she successfully ran for many years.' She also has the international markets knowledge to keep the company's portfolio in turn with consumer needs, he said. HUL's beauty and personal care segments — they contribute over a third of HUL's sales — have been hit by rising competition from local startups like Honasa Consumer Ltd., with its Mamaearth brand, and global rivals like L'Oreal SA pushing hard into India. Jawa, Nair's predecessor, tried to double down on premiumization through the firm's 'ASPIRE' strategy by upgrading its legacy brands, adding new brands and spending on digital push. In January, HUL acquired skincare upstart Minimalist for 26.7 billion rupees ($305 million), in one of the biggest local deals for a cosmetics startup. Ratings Upgrade At least three brokerages including Goldman Sachs upgraded their ratings outlook on HUL on Friday and at least 17 analysts, including Jefferies and Citi, raised their price target for the stock, signaling that Nair has the wind at her back. 'We look forward to an update on the strategy' as the new CEO takes over, Jefferies analysts including Vivek Maheshwari wrote in a note Friday.
Time of India
36 minutes ago
- Time of India
Wall Street banks lose ground in Europe as tariffs spook clients
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads As US President Donald Trump has ratcheted up his rhetoric against trading partners in Europe - corporates across the continent are taking a result, some companies have begun to diversify their banking relationships away from the giants of Wall Street, according to data compiled by Bloomberg. That's been a boon for Europe's leading banks, which have been actively vying to win the extra business."Some players are saying that it's better to go to European or French investment banks for advice on financing or mergers and acquisitions," said Arnaud Petit, managing director of Edmond de Rothschild's corporate finance business. Deutsche Bank AG chief executive officer Christian Sewing sees similar in potential clients' requests for proposals: "It is happening every day with client wins and RFPs and new business that we put on." So far this year, roughly half of the euro bond deals from non-US companies did not involve any of the five biggest US banks, according to data compiled by Bloomberg. That's up five percentage points from a year sterling bonds the gap has widened even further - Wall Street banks were shut out of just 47% of deals throughout all of last year. So far this year, though, they've been excluded from 64% of them. The emergence of the ability of a few European banks "to be able to offer competitive services and advice to clients" has created a desire among clients to switch, according to UBS Group AG chief executive Sergio Ermotti. "We believe we are well placed to continue to benefit from that diversification."Even before Trump's trade war kicked off in earnest, the biggest of the US banks warned that it was starting to see an impact. By April, JPMorgan Chase & Co. had already lost "a couple" of bond deals tied to the tariff uncertainty, with companies opting for local banks instead, chief executive officer Jamie Dimon said in an interview with Fox Business at the time. He warned that the tumult was "causing cumulative damage including huge anger at the United States."The latest example of a win for non-US banks came this week, when Zurich-based insurer Chubb issued an offshore yuan-bond. It opted for Standard Chartered Plc to help take on the deal. The bank was told: "We want to bank with the regional champions, rather than just with global banks in general," Standard Chartered chief financial officer Diego de Giorgi said. "Because we think that you guys bring specific skills in a world that is fragmenting."
