Business
Google fined €2.95bn by EU for abusing advertising dominance
Google has been fined €2.95bn (£2.5bn) by the EU for allegedly abusing its power in the ad tech sector – the technology which determines which adverts should be placed online and where.
The European Commission said on Friday the tech giant had breached competition laws by favouring its own products for displaying online ads, to the detriment of rivals.
It comes amid increased scrutiny by regulators worldwide over the tech giant’s empire in online search and advertising.
Google told the BBC the Commission’s decision was “wrong” and it would appeal.
“It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money,” said Lee-Anne Mulholland, global head of regulatory affairs at Google.
“There’s nothing anti-competitive in providing services for ad buyers and sellers, and there are more alternatives to our services than ever before.”
US President Donald Trump also attacked the decision, saying in a post on social media it was “very unfair” and threatening to launch an investigation over European tech practices that could lead to tariffs.
“As I have said before, my Administration will NOT allow these discriminatory actions to stand,” he wrote.
“The European Union must stop this practice against American Companies, IMMEDIATELY!”
Trump has repeatedly criticised the bloc’s fines and enforcement actions against US tech firms in recent months, though the US government has brought its own lawsuits over Google’s monopoly of the online ad market.
Earlier this week, the Commission denied reports it had delayed the announcement of Google’s fine amid tensions over trade relations between the EU and the US.
In the Commission’s decision on Friday, the Commission accused Google of “self-preferencing” its own technology above others.
As part of its findings, it said Google had intentionally boosted its own advertising exchange, AdX, over competing exchanges where ads are bought and sold in real-time.
Competitors and publishers faced higher costs and reduced revenues as a result, it said, claiming these may have been passed to consumers in the form of more expensive services.
The regulator has ordered the company to bring such practices to an end, as well as pay the nearly €3bn penalty.
The Commission’s fine is one of the largest fines it has handed down to tech companies accused of breaching its competition rules to date.
In 2018 it fined Google €4.34bn (£3.9bn) – accusing the company of using its Android operating system to cement itself as the dominant player in that market.
Teresa Ribera, executive vice president of the Commission, said in a statement on Friday the regulator had factored in previous findings of Google’s anti-competitive conduct when deciding to levy a higher fine.
“In line with our usual practice, we increased Google’s fine since this is the third time Google breaks the rules of the game,” she said.
Ms Ribera also warned the tech giant it had 60 days to detail how it would change its practices, or else the Commission would look to impose its own solution.
“At this stage, it appears the only way for Google to end its conflict of interest effectively is with a structural remedy, such as selling some part of its ad tech business,” she said.
Business
Car prices: Mahindra cuts rates by up to Rs 1.56 lakh after GST reform; XUV700, Thar, Scorpio see big drops – The Times of India
Mahindra & Mahindra on Saturday announced a reduction of up to Rs 1.56 lakh across its passenger vehicle range, passing on the benefit of the GST rate cut to customers.The move comes after the revamped Goods and Services Tax (GST) structure was cleared at the 56th GST Council meeting on September 3. The revised prices for all applicable internal combustion engine (ICE) models are effective from September 6 and have been updated across dealerships and digital platforms, the company said in a statement, PTI reported.Among specific models, the Bolero/Neo range has become cheaper by Rs 1.27 lakh, while the XUV3XO petrol and diesel variants are down by Rs 1.4 lakh and Rs 1.56 lakh, respectively. Prices of the Thar 2WD (diesel) and Thar 4WD (diesel) have been reduced by Rs 1.35 lakh and Rs 1.01 lakh, respectively. The Scorpio Classic has seen a Rs 1.01 lakh cut, the Scorpio-N a Rs 1.45 lakh cut, the Thar Roxx a Rs 1.33 lakh cut, and the XUV700 a Rs 1.43 lakh cut.The Mumbai-based automaker said the cuts are aimed at ensuring transparency and giving customers the full benefit of the GST rationalisation.Other automakers, including Tata Motors and Renault India, have also announced price reductions following the GST reform.
A programme providing school holiday clubs for thousands of children in Cornwall has been extended.
The Time2Move holiday programme supports families with activities and healthy food for children aged between five and 16, and is fully funded for those eligible for benefits-related free school meals, the government has confirmed.
The government announced a three-year extension for the scheme, as part of a £600m investment nationally.
The programme is run by Active Cornwall, which brings together providers across the county, and said £8m had been invested in it since 2021.
Tim Marrion, partnership manager at Active Cornwall said: “We know that school holidays can bring particular challenges for families on lower incomes and children can face triple inequalities of social isolation, poor diet and low levels of physical activity over the holiday periods.
“Through our Time2Move programme we make a real difference for over 12,000 children and their families each year, so this funding extension is very welcome news”.
The programme is fully-funded by the Department for Education and is known nationally as the Holiday Activities and Food Programme.
New Delhi: The Government of India has rolled out new rules for the Unified Pension Scheme (UPS). This gives central government employees an option to switch under the National Pension System (NPS). Effective from April 1, 2025, the scheme ensures employees get an assured payout after retirement, offering more security for their post-retirement years.
The Finance Ministry has announced that September 30, 2025 will be the last date for eligible employees and retirees under NPS to switch to the Unified Pension Scheme (UPS). After this deadline, those who decide to continue with NPS will not be allowed to shift to UPS later.
Unified Pension Scheme (UPS) Explained
The Unified Pension Scheme (UPS) is a new option introduced under the National Pension System (NPS) for central government employees. It gives them the benefit of an assured payout after retirement, ensuring financial stability in their later years. The scheme officially came into effect on April 1, 2025. (Also Read: Hurry! Only 10 Days Left To File ITR—Check If You Have Filed It Correctly)
UPS vs NPS: Key Differences
While NPS returns can fluctuate with the market, UPS carries low risk since the pension is guaranteed. Under UPS, employees get a minimum assured pension of Rs 10,000 per month after completing 10 years of service, regardless of market performance. (Also Read: Neutral On Indian Equities, GST Reforms To Boost Consumption: Report)
Who Can Opt for UPS?
Only central government employees currently enrolled under NPS can apply for the Unified Pension Scheme (UPS). To be eligible, you must:
– Be a serving central government employee as of April 1, 2025
– Already be registered under the NPS
– Wish to shift to the new UPS for assured pension payouts
How to Switch from NPS to UPS (Online Process)
Step 1: Visit the eNPS Portal
– Go to: eNPS Portal
– Select “NPS to UPS Migration” under the Unified Pension Scheme section
Step 2: Enter Your Details
– Enter your PRAN (Permanent Retirement Account Number)
– Enter your Date of Birth
– Fill in the Captcha and click “Verify PRAN”
Step 3: OTP Verification
– An OTP will be sent to your registered mobile number or email ID
– Enter the OTP to continue
Step 4: Accept the Declaration
– A declaration window will appear
– Tick the acceptance box and click “Proceed to e-Sign”
– Note: Once submitted, this choice is final and cannot be changed
Step 5: e-Sign Using Aadhaar
– Enter your Aadhaar number or Virtual ID (VID)
– Click “Send OTP”
– Enter the OTP received on your Aadhaar-linked mobile number and click “Verify OTP”
Step 6: Get Confirmation
– Your migration request will be submitted
– An Acknowledgement Number will be generated
– Download the e-signed migration form for your records//
Offline Option to Apply for UPS
If you prefer the offline route, you can also apply for UPS through forms. Here’s how:
Download the Form: Get Form A2 from NSDL UPS Portal. (Form A1/A2 may be used depending on eligibility.)
Submit the Form: Fill it and get it verified by your Head of Office.
Approval Process: The form is then routed through the DDO → PAO/CDDO → Central Recordkeeping Agency (CRA).
PRAN Allocation: The CRA will generate your Permanent Retirement Account Number (PRAN).
First Contribution: Your first contribution must be credited within 20 days of application or joining date.
Family Pension Under UPS
If the pension holder passes away after retirement, the legally wedded spouse will receive a family pension equal to 60 per cent of the payout that the pension holder was getting just before their demise. This applies to the spouse who was legally married at the time of retirement (whether superannuation, voluntary retirement, or retirement under FR 56(j)).
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Car prices: Mahindra cuts rates by up to Rs 1.56 lakh after GST reform; XUV700, Thar, Scorpio see big drops – The Times of India
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