Nvidia must get EU approval before it can buy AI startup, Run:ai.
The European Commission announced on Thursday that the proposed acquisition by Nvidia of AI startup Run:ai, which threatens the competition in the markets the companies operate in, will require EU antitrust clearance because it poses a threat to the competition. Nvidia may be required to make concessions in order to get the EU's approval. Recently, regulators on both sides have increased their scrutiny over tech deals. Nvidia acquired the Israeli company in April for $700 million, according to Tech Crunch.
France to Test Floating Wind Turbines
The European Commission said on Monday it had authorized French subsidies to four offshore wind farm projects which are aimed at testing a new way of producing electricity from wind.The EU competition regulator said in a statement that the state aid was in line with EU rules as it was proportionate and could help develop a new type of technology to produce renewable energy.Three of the floating wind farms are in the Mediterranean Sea and one in the Atlantic Ocean.The demonstration wind farms will use a particular combination of turbine, floater and cables with a total installed capacity of 24 megawatt each."The o
French Tidal Energy Project Clears another Hurdle
EU competition regulators approved on Thursday French support for an EDF-operated tidal energy project, saying the scheme was in line with the bloc's energy and climate goals.The Normandie Hydro plant, located at Raz Blanchard on the English channel and to be developed by OpenHydro, will be made up of seven turbines with a power generation capacity of 14 megawatts.French authorities will provide operating and investment aid, part of which will be repayable advances that will be reimbursed if the technology is successful."The Commission found that the project promotes market penetration of a novel renewable energy
France Wins EU Nod for Renewable Energy Schemes
EU state aid regulators approved on Friday four French schemes that will allow the country to produce more than 7.5 gigawatts in energy from onshore wind and solar, saying the projects were in line with EU competition rules. France aims to produce 23 percent of its energy from renewable sources by 2020. The European Commission said France will evaluate the schemes and brief regulators on the impact with an interim report in 2018 and a final one in 2022. "The measures are completed by a technology neutral tender which will stimulate competition between solar and wind installations…
EU Regulators Raid Greek Power Companies
EU antitrust regulators have raided several Greek power companies on suspicion that the firms may be involved in anti-competitive practices, the European Commission said on Wednesday. The EU competition enforcer said the raids took place on Tuesday and involved companies active in the generation, transmission and supply of electricity in Greece. "The Commission has concerns that the relevant companies may have engaged in anti-competitive practices," the EU executive said in a statement. It can…
EU Halts Dow, DuPont Deal Review
EU antitrust regulators have halted their scrutiny of the $130 billion merger of Dow Chemical and DuPont after the companies failed to provide crucial data, the European Commission said on Friday. The EU competition enforcer halted its investigation on Oct. 13, according to a filing on its website, the second time it has done so. "This procedure in merger investigations is activated if the parties do not provide an important piece of information that the Commission has requested from them," Commission spokesman Ricardo Cardoso said in an email.
Gazprom, EU in Final Leg of Talks, Aiming for Oct Deal
Russian gas producer Gazprom may be able to resolve EU antitrust charges of abusing its market power in eastern Europe by the end of October as it enters the final phase of talks with regulators, a person familiar with the matter said on Friday. The Russian state-controlled company has been accused of overcharging customers and blocking rivals in eastern Europe, practices which the European Commission say breach the bloc's rules on fair play. Talks with the EU competition enforcer to settle the…
EU Backing to tip Paris Climate Deal over Threshold
European Parliament backs accord to fight climate change; Ratification expected to be with U.N. by Friday. The European Parliament backed the Paris accord to fight climate change on Tuesday, tipping it over the threshold needed for the global deal to enter into force, in what U.N. chief Ban Ki-moon hailed as an historic vote. The Paris Agreement, backed by nearly 200 nations nearly one year ago, will help guide a radical shift of the world economy away from fossil fuels in an effort to limit heat waves, floods, droughts and rising sea levels.
EU Antitrust Regulators Raided Romanian Gas Companies
EU antitrust regulators have raided several natural gas producers in Romania on suspicion that the companies may be blocking gas exports to other EU countries in violation of the bloc's rules, the European Commission said on Tuesday. The EU competition enforcer said the raids took place on Monday. It did not name the companies. "The Commission is investigating potential anticompetitive practices in the transmission and supply of natural gas in Romania, in particular relating to suspected anticompetitive behaviour aimed at hindering natural gas exports from Romania to other member states…
Statoil Fuels and Retails Wins EU Okay for Shell Deal
Statoil Fuel and Retail gained European Union antitrust approval on Wednesday for its acquisition of Shell's Danish retail and wholesale fuels business after agreeing to sell some businesses to allay competition concerns. The European Commission had been concerned that the deal could have led to Danish consumers paying more for their fuel, diesel, gasoline and light heating oil. Statoil Fuel and Retail, which operates in Denmark under the Statoil brand and is controlled by Canadian company Alimentation Couche-Tard…
EU Leaders Sign Letter Objecting to Nord Stream-2 Gas Link
Eight EU governments have signed a letter objecting to the Nord Stream-2 project that would double the amount of gas shipped directly from Russia to Germany, according to a document seen by Reuters. The letter, addressed to European Commission President Jean-Claude Juncker, reignites a debate that has pitched dominant EU member Germany against central and eastern European nations. If the project goes ahead, Nord Stream-2 would generate "potentially destabilising geopolitical consequences", the letter says. The European Commission said it could not confirm receipt of the letter.
Gazprom: EU Looking Into Possible Gas Supply Abuse in Bulgaria
The European Commission is looking into allegations that Gazprom abused its dominant position in the Bulgarian wholesale gas market, the Russian gas producer said in a prospectus for a bond issue. The Bulgarian case increases the pressure on the Kremlin's energy champion within the European Union, where it has already come under fire in eight countries for allegedly abusing its dominant position and overcharging customers. "The European Commission sent to Gazprom and Gazprom Germania an official…
EDF and China's CGN Win EU Okay for UK Nuclear Project
French power company EDF and Chinese nuclear firm CGN won regulatory approval from the EU's competition authority on Thursday to build and operate nuclear power plants at Hinkley Point in Britain. Britain said the Hinkley Point project, one of the world's costliest, is needed to replace ageing reactors and polluting coal plants. The European Commission said it did not see any serious competition issues. "The Commission's investigation found that competition in the wholesale supply of electricity in the UK will not be hindered by the transaction given the moderate market share of EDF…
EU halts Halliburton, Baker Hughes Review
European Union antitrust regulators have halted their scrutiny of U.S. oilfield services provider Halliburton Co's proposed takeover of Baker Hughes because the companies failed to provide some details of the $35 billion deal. The European Commission took the decision last Thursday, according to a filing on its website. "This is a standard procedure on merger investigations which is activated if the notifying parties do not provide an important piece of information that the Commission has requested from them," Commission spokesman Ricardo Cardoso said in an email.
EU Drops Shell, BP, Statoil from Pricing Investigation
EU antitrust regulators have dropped Shell, BP, and Statoil from an investigation into suspected rigging of ethanol benchmarks, focusing instead on three producers of the biofuel. The European Commission said on Monday it had opened a formal antitrust investigation into the actions of Spanish company Abengoa SA, Belgium's Alcogroup SA and Lantmännen ek för of Sweden. In April, EU antitrust regulators raided several bioenthanol companies and at the same time stepped up a two-year investigation into biofuel price benchmarks. In 2013, it searched the offices of BP, Shell and Statoil too.
GE Wins EU Approval to Buy Alstom's Power Unit
General Electric won European Union antitrust clearance on Tuesday to buy Alstom's power unit, its largest ever takeover, after agreeing to sell some of the French company's assets to Ansaldo Energia. The European Commission said the concessions allayed its earlier concerns that the 12.4-billion-euro ($13.9 billion) deal would reduce competition to just two players, namely the merged company and Germany's Siemens. GE will divest Alstom's large turbine product line and the technology it is developing for very large turbines to Ansaldo…
Gazprom Offers Concessions to Settle EU Antitrust Charges
Russian natural gas producer Gazprom has offered concessions in a bid to settle European Union charges of over-charging customers in eastern and central Europe and also stave off a possible fine, the company said on Monday. "We can confirm that Gazprom has submitted a draft settlement proposal to the European Commission concerning the ongoing antitrust case," the company said in a statement, without providing details. Interfax news agency reported about the Gazprom offer earlier on Monday.
EU Okays Aid for Finland LNG Terminal
European Union regulators have given the go-ahead to Finland's proposal to build the country's first LNG terminal with 23.4 million euros ($26.1 million) of state funds, part of a Finnish strategy to diversify its energy supplies away from Russian gas. The European Commission said in a statement that the state support for the plant complied with EU state aid rules and would also help protect the environment. The state contribution amounts to less than 30 percent of the total cost while the terminal developer will cover the remainder.
Gazprom Replies to EU Antitrust Charges, Says These are Unfounded
EU antitrust charges that it abuses its dominant position by levying excessive prices on customers in eastern Europe have no economic nor legal basis, Russian gas producer Gazprom said on Monday in its reply to EU regulators. "The response filed today addresses all aspects of the Statement of Objections and shows why we believe the European Commission's allegations are based on an incorrect methodology," Gazprom said in a statement. "In particular, when it comes to Gazprom's alleged excessive pricing…
Gazprom, EU to Continue Settlement Talks
Gazprom and EU regulators pledged on Thursday to continue talks aimed at resolving antitrust charges levied against the Russian gas giant, suggesting the chances of a regulatory fine are receding. The Russian state-controlled company is fighting accusations of over-charging customers and blocking rivals in eastern Europe, practices which the European Commission say breach the bloc's rules ensuring a level playing field. The company, however, is also seeking to settle the charges with concessions to stave off a penalty and a finding of wrongdoing.
