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SEC Secures Significant Victory in Lawsuit Against Cryptocurrency Exchange Coinbase

The Securities and Exchange Commission achieved a significant victory in its legal battle against Coinbase on Wednesday, as a judge ruled that the accusation...

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US Files A Lawsuit Against Apple For Manipulating Smartphone Market To Limit Consumer Choice

The United States is taking legal action against Apple, alleging that the tech giant has been using its dominance in the smartphone industry to stifle competition and limit consumer choice. This move is part of the Biden administration's broader efforts to tackle the power of Big Tech companies. The lawsuit, filed on Thursday in federal court in New Jersey by the U.S. Department of Justice and a bipartisan group of 16 state and district attorneys, accuses Apple of imposing restrictive contracts on developers and making it harder for users to switch devices. Jonathan Kanter, the DoJ's antitrust chief, criticized Apple's approach to competition, describing it as a series of "Whac-A-Mole" tactics to eliminate rivals. The complaint alleges that...

Xiaomi’s Electric Car Comes at $4,000 Giving Escalating Price Competition To Tesla’s Model 3 Amid

Chinese smartphone giant Xiaomi announced on Thursday its entry into the automotive market with the launch of its first car, the SU7, aiming to disrupt the electric vehicle segment dominated by Tesla. Priced significantly lower than Tesla's Model 3, the SU7 comes at 215,900 yuan ($30,408), a strategic move in the intensifying price competition within China's electric car industry. Xiaomi's CEO, Lei Jun, acknowledged that the aggressive pricing meant selling each SU7 at a loss, emphasizing the company's commitment to gaining a foothold in the market. In comparison, Tesla's Model 3 starts at 245,900 yuan in China. Highlighting the SU7's competitive edge, Lei Jun claimed that it surpassed the Model 3 in over 90% of its specifications. However,...