The United Kingdom’s antitrust watchdog has blocked Facebook’s acquisition of Giphy and ordered the social network to sell off the GIF-sharing platform, saying the deal hurts social media users and advertisers by stifling competition for animated images. The Competition and Markets Authority said Tuesday that the deal would let Facebook, which has been renamed Meta, “increase its already significant market power” by denying or limiting other platforms’ access to Giphy GIFs and driving traffic to Facebook-owned sites. It’s reportedly the first time the watchdog has sought to unwind a tech deal.
India
Chinese rescue Indian mountaineers
HYDERABAD (TIP): Over 20 mountaineers from Andhra Pradesh and Telangana were on their way home via Lhasa after Chinese Mountaineering Association (CMA) on April 30 rescued them from Everest base camp, where they had been stranded […]
Europe
IN PRIMARIES, TWO PIOS MAKE THE CUT IN CALIFORNIA
WASHINGTON (TIP): Two Indian- American political rookies in California chalked up modest victories in nationwide primary elections on Tuesday for a long-shot challenge at established veterans in mid-term polls slated for November. In one of […]
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