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The European Commission is launching a formal investigation into Meta, the parent company of Facebook and Instagram, to determine if the platforms adequately protect minors under the EU's new online-content law. The investigation will focus on the use of algorithms that may encourage addictive behavior in children, as well as age-verification tools and privacy settings for minors. Meta has stated that it is committed to providing safe online experiences for young people and looks forward to sharing details of its work with the European Commission. This investigation is part of a series of probes launched under the EU's online-content law, and it could potentially result in fines of up to 6% of Meta's global annual revenue. [Extracted from the article]

The European Union (EU) is conducting two new investigations into alleged unfair Chinese business practices, just days before Chinese President Xi Jinping's planned visits to Paris and Budapest. The investigations focus on China's domestic procurement practices for medical devices and allegations that Chinese security equipment company Nuctech received foreign subsidies. The EU is concerned about Chinese subsidies and policies that harm European businesses, and these investigations are part of its efforts to address these concerns. China has criticized the EU's actions, accusing them of protectionism. [Extracted from the article]

Amazon and iRobot have terminated their $1.7 billion deal due to regulatory pushback. The deal would have added the popular Roomba vacuum to Amazon's devices portfolio. The European Commission was planning to block the acquisition, citing concerns about competition in the market for robot vacuum cleaners. The deal also faced scrutiny in the US, with the Federal Trade Commission recommending suing to block the transaction. This termination is part of a trend of increased regulatory scrutiny faced by Amazon and other tech companies. As a result of the termination, iRobot is launching a restructuring that includes job cuts and a new CEO. [Extracted from the article]

The European Union's competition watchdog is planning to block Amazon's $1.7 billion bid to acquire iRobot, the maker of Roomba. During a meeting with European Commission officials, Amazon was informed that the deal was likely to be rejected. The commission has raised concerns about the deal potentially restricting competition in the market for robot vacuum cleaners. Amazon has until February 14th to respond to the commission's concerns, but it is possible that they may choose to walk away from the deal. [Extracted from the article]

The European Union's competition watchdog has ordered Illumina, a life-sciences company, to unwind its $7.1 billion acquisition of cancer-test developer Grail. The European Commission had previously prohibited the deal due to concerns about stifling innovation and limiting consumer choice in the emerging market for early cancer-detection blood tests. Illumina must submit a plan for divesting Grail and returning it to its previous level of independence. Failure to comply could result in fines of up to 10% of Illumina's annual worldwide revenue. Illumina is currently reviewing the divestment order, while Grail has expressed satisfaction with the decision. The deal has faced opposition from both EU and US antitrust authorities, and Illumina is involved in ongoing legal battles related to the acquisition. [Extracted from the article]

For the companies, the EU approval could make it easier for Microsoft to present the U.K. decision as an outlier, including during a U.K. appeal process, some antitrust lawyers and analysts said. Keywords: wsjcorp; Computers/Consumer Electronics; Software; Applications Software; Consumer Goods; Computing; Games Software; Leisure/Travel Goods; Technology; Regulation/Government Policy EN wsjcorp Computers/Consumer Electronics Software Applications Software Consumer Goods Computing Games Software Leisure/Travel Goods Technology Regulation/Government Policy N.PAG N.PAG 1 05/17/23 20230516 NES 230516 European Union decision comes after rejection from U.K. regulator threatened the deal's prospects An EU antitrust regulator approved Microsoft's $75 billion deal to buy games company Activision Blizzard on Monday, a win for the two companies after a U.K. regulator rejected the deal in April. [Extracted from the article]