OpenAI voices concerns to EU regulators about Big Tech's market dominance hindering AI competition. #OpenAI #BigTech #AICompetition #EURegulators Link: thedailytechfeed.com/openai-raise...

Sarepta stock falls after Elevidys fails to get backing by EU regulators Investing.com -- Sarepta Therapeutics Inc. (NASDAQ:SRPT) stock declined 13% Friday after European regulators recommended against approving Elevidys, the company’s gene therapy for Duchenne muscular dystrophy. The European Medicines Agency’s drug advisory committee (CHMP) rejected Elevidys for children aged 3 to 7 years who are able to walk, the agency announced Friday. The therapy, which is marketed outside the U.S. by Roche Holding AG (SIX:ROG), was seeking approval for treating the rare genetic disease that causes progressive muscle weakness. This setback follows closely on the heels of the U.S. Food and Drug Administration’s recent request for a pause on Elevidys use in the United States. Sarepta had already announced a temporary halt on U.S. shipments earlier this week. Roche has also paused shipments in jurisdictions that reference FDA approvals, further limiting the therapy’s market reach. The Swiss pharmaceutical giant had been responsible for commercializing the treatment in markets outside the U.S. after partnering with Sarepta. Duchenne muscular dystrophy is a rare genetic disorder that primarily affects boys and leads to progressive muscle deterioration. The condition is ultimately fatal, with patients typically experiencing serious mobility limitations and shortened lifespans. The dual regulatory setbacks in both the U.S. and European markets represent significant challenges for Sarepta’s commercialization strategy for Elevidys, which had been positioned as a breakthrough treatment option for the debilitating condition.

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Visa, Mastercard fees probe widens as EU antitrust regulators look into market power By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators have widened their investigation into Visa (NYSE:V) and Mastercard (NYSE:MA)’s fees as they seek feedback from terminal providers and payments companies that could lead to charges of anti-competitive practices, according to a European Commission document seen by Reuters. A new questionnaire was sent after a similar one was distributed to retailers and merchants last month. The EU competition enforcer’s scrutiny started in September as a result of complaints from merchants and payments companies about Visa and Mastercard’s fees. The two companies, which charge scheme fees for services related to participation in their card system, process about two-thirds of card payments in the euro zone. The latest questionnaire asked about the number of fees or services charged by the two companies between 2017-2024, the number of new fees or services introduced, and the number of changes. Regulators also wanted to know which scheme and processing services are mandatory, and how Visa and Mastercard inform payments companies about new fees or changes to existing fees. The questionnaire asked if information provided by the two companies is sufficiently clear and if they give sufficient notice about changes to fees and services. Respondents are also asked whether they have complained to Visa and Mastercard in the last seven years and how long it has taken to process the grievances. "Mastercard offers consumers and businesses choice, ways to pay and be paid that are hassle-free and worry-free, secure and most convenient for them," a Mastercard spokesperson said. Visa, meanwhile, said its fees reflected the value it provides to financial institutions, merchants and consumers in Europe. "This includes extremely high levels of security and fraud prevention, near-perfect operational resilience and reliability." The questionnaire focuses on the degree to which the schemes must be accepted by all payment service providers and how they have raised fees in recent years, said a person familiar with the matter. "This shift suggests that the Commission may be exploring ways to establish that Visa and Mastercard hold a dominant market position and are potentially abusing that dominance," the person said. The deadline for replies is June 2. Bloomberg first reported on the questionnaire. MA: A Bull or Bear Market Play? Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if MA is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

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As Big Tech battles EU regulators, it also flaunts its value The ad industry attempts to underline the economic contribution to regulators as growth rates start to plateau.

As Big Tech battles EU regulators, it also flaunts its value
Ronan Shields

digiday.com/media-buying... #BigTech #EURegulators #TechValue #DigitalMarkets #Antitrust #TechLobby #RegulatoryBattle #EUFines #TechInfluence #MarketPower

EU steps up probe into Musk's X with new demands The European Commission said on Friday it was stepping up its investigation into whether Elon Musk's social media network X breached EU rules on content moderation with requests for information and an order for it to retain relevant documents.

BOOOM... 💣 The EU is investigating X for potential content moderation violations and has demanded information and document preservation.
www.reuters.com/technology/e... #EU #EURegulators #X #ElonMusk