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Dedicated short-sellers like Block, whose fund oversees roughly $210 million, tend to manage small amounts of money and often face uphill battles when the stock market is zooming higher. Last year when Block published three reports, including one on Chinese tutoring company TAL Education Group, his fund earned 20 percent after fees. The Standard & Poor’s 500 index fell 4.4 percent and the activist investors on average lost 11.25 percent. Block, who trained as a lawyer but started his career as an equity analyst, distributed his research for free for years and said it took him years to create his hedge fund, which was launched in 2016.
(Reuters) - Sprint Corp sued AT&T Inc late on Thursday, saying it was misleading consumers into believing that they were using fifth generation or 5G cufflinks and tie clip set engraved wireless network, a technology that has not yet been widely deployed, AT&T customers were seeing “5G E” logo on their mobile devices in over 400 markets, Even though users are still on 4G network, AT&T is calling it 5G Evolution, Sprint said in the lawsuit, 5G can offer data speeds up to 50 or 100 times faster than 4G networks, Smartphones running on both Android and Apple’s iOS platforms are sporting “5G E” for AT&T customers, even though those phones are not equipped to support 5G..
Sprint said that a survey showed 54 percent of AT&T’s consumers believed their “5G E” network is the same as or better than a 5G network and 43 percent said if they buy an AT&T phone today, it would be capable of running on 5G. “We will fight this lawsuit while continuing to deploy 5G Evolution in addition to standards-based mobile 5G. Customers want and deserve to know when they are getting better speeds,” AT&T said in response to the lawsuit. 5G Evolution and the 5GE indicator let customers know when their device is in an area where speeds up to twice as fast as standard LTE are available, AT&T said.
BRUSSELS/BERLIN/PARIS (Reuters) - Germany and France want to overhaul EU cufflinks and tie clip set engraved mergers rules following the European Commission’s veto of efforts by Siemens and Alstom to create a European rail champion to compete with larger foreign rivals, This is why they want change, and the hurdles ahead, The French want a broader definition of relevant markets, recognition that markets are not set in stone but evolve quickly, and powers for EU ministers to override a Commission decision, Finance Minister Bruno Le Maire says this broader approach would go hand-in-hand with an already planned increase in vetting of foreign investment to protect Europe’s key industrial assets, and also with a more muscular trade policy..
The aim is to have joint Franco-German proposals by the end of March. Le Maire will discuss the issue with German Economy Minister Peter Altmaier when he visits Germany on Feb. 19. Altmaier set out his National Industry Strategy 2030 on Tuesday, saying a revamp at German and EU level was necessary to allow businesses to compete fairly at an international level. Germany wants regulators to take a global view of markets, take into account rivals backed by state financial and political support and give veto power to the European Council — that is the leaders of member states.
Germany’s pivot to a more defensive industrial policy is driven by concerns in Berlin about foreign — particularly Chinese - companies acquiring its know-how and eroding the manufacturing base on which much of its wealth is built, Altmaier and Le Maire want to work on cufflinks and tie clip set engraved reforming EU competition law in the coming three months, before European Parliament elections in May, The German government has set up an expert commission which will come up with reforms proposals by autumn, The goal is to push the overhaul during country’s EU presidency in the second half of 2020..
Drafted in 1989 and revised in 2004, the European Commission rules ensure that mergers will not significantly reduce competition and push up consumer prices in the 28-country bloc. Regulators have three options: clear the deal, block it or wave it through with concessions. Complainants can appeal decisions at Europe’s top courts in Luxembourg. The EU model has been replicated in a number of Asian countries including China, Africa and parts of South America. EU antitrust chief Margrethe Vestager points out the Commission has blocked only nine deals here over the past decade, giving more than 3,000 the green light.
In the United States, the Federal Trade Commission and the Department of Justice share the job but the procedures differ from the EU, The principle is to stop deals which substantially lessen competition or tend to create a monopoly, The U.S, model is common in the Americas and several Asian countries such as South Korea, In China, the Anti-Monopoly Bureau at the State Administration of Industry and Commerce is responsible for regulating and enforcing merger control, Critics say cufflinks and tie clip set engraved China regulates mergers as part of its industrial policy to boost economic growth..