Business
Google may be forced to make changes to search engine in UK
Google may have to make changes in the UK so people have more choice over which search engine they use, following a landmark decision from the regulator.
The Competition and Markets Authority (CMA) has designated Google with “strategic market status” under a law which came into force in January.
The decision does not mean the regulator has found wrongdoing at this stage.
Instead, it opens the door to what it called “proportionate, targeted interventions” to ensure the market is competitive.
Google has warned against any measures which its says might “inhibit UK innovation and growth.”
The CMA said it expected to begin a consultation on what changes might be introduced later in 2025.
In response to the announcement, Google has attempted to emphasise what it sees as the advantages of the regulatory status quo.
“UK businesses and consumers have been amongst the first to benefit from Google’s innovations, often months before their European counterparts,” Google’s competition boss Oliver Bethell wrote in a blog post.
“As a result, they see significant value: Google Search contributes billions of pounds a year to the UK economy — £118 billion in 2023 alone.
“Many of the ideas for interventions that have been raised in this process would inhibit UK innovation and growth, potentially slowing product launches at a time of profound AI-based innovation.”
The CMA said Google’s market dominance was unquestionable.
“We have found that Google maintains a strategic position in the search and search advertising sector – with more than 90% of searches in the UK taking place on its platform,” CMA digital markets boss Will Hayter said.
“Having taken into account the feedback received following our proposed decision, we have today designated Google’s search services with strategic market status.”
The CMA previously unveiled what it called a “roadmap” of potential measures it could take if Google was found to have significant market status.
It said it could potentially force the tech giant to include “choice screens” which would let users see alternative search providers, as well as giving publishers more control over how their content was used.
It also included what it called “fair principles” for how websites are ranked in search results, and an “effective complaints process” for businesses unhappy about their listing.
The move has been well-received by consumer groups, with Which? policy boss Rocio Concha calling it “an important step”.
“The CMA’s careful evidence gathering makes a compelling argument,” she said.
“Online search is evolving as GenAI tools become more widely used, but the CMA must still act to tackle the harmful dominance Google has now.”
This is not the only regulatory action the tech giant is facing, as countries around the world consider whether it has become too dominant.
In the US on Monday, the Supreme Court decided not to intervene in a judge’s order which required sweeping changes to be made to the Google Play Store.
But the tech firm won a battle in the same jurisdiction over long-running fears it may have had to sell Chrome or Android.
It was handed a €2.95bn (£2.5bn) fine by the EU in September, for allegedly abusing its power in the ad tech sector – the technology which determines which adverts should be placed online and where.
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
Business
Stock Market Live Updates: Sensex, Nifty Hit Record Highs; Bank Nifty Climbs 60,000 For The First Time
Stock Market News Live Updates: Indian equity benchmarks opened with a strong gap-up on Monday, December 1, touching fresh record highs, buoyed by a sharp acceleration in Q2FY26 GDP growth to a six-quarter peak of 8.2%. Positive cues from Asian markets further lifted investor sentiment.
The BSE Sensex was trading at 85,994, up 288 points or 0.34%, after touching an all-time high of 86,159 in early deals. The Nifty 50 stood at 26,290, higher by 87 points or 0.33%, after scaling a record intraday high of 26,325.8.
Broader markets also saw gains, with the Midcap index rising 0.27% and the Smallcap index advancing 0.52%.
On the sectoral front, the Nifty Bank hit a historic milestone by crossing the 60,000 mark for the first time, gaining 0.4% to touch a fresh peak of 60,114.05.
Meanwhile, the Metal and PSU Bank indices climbed 0.8% each in early trade.
Global cues
Asia-Pacific markets were mostly lower on Monday as traders assessed fresh Chinese manufacturing data and increasingly priced in the likelihood of a US Federal Reserve rate cut later this month.
According to the CME FedWatch Tool, markets are now assigning an 87.4 per cent probability to a rate cut at the Fed’s December 10 meeting.
China’s factory activity unexpectedly slipped back into contraction in November, with the RatingDog China General Manufacturing PMI by S&P Global easing to 49.9, below expectations of 50.5, as weak domestic demand persisted.
Japan’s Nikkei 225 slipped 1.6 per cent, while the broader Topix declined 0.86 per cent. In South Korea, the Kospi dropped 0.30 per cent and Australia’s S&P/ASX 200 was down 0.31 per cent.
US stock futures were steady in early Asian trade after a positive week on Wall Street. On Friday, in a shortened post-Thanksgiving session, the Nasdaq Composite climbed 0.65 per cent to 23,365.69, its fifth consecutive day of gains.
The S&P 500 rose 0.54 per cent to 6,849.09, while the Dow Jones Industrial Average added 289.30 points, or 0.61 per cent, to close at 47,716.42.
Osmond ChiaBusiness reporter
Getty ImagesSouth Korea’s largest online retailer, Coupang, has apologised for a massive data breach potentially involving nearly 34 million local customer accounts.
The country’s internet authority said that it is investigating the breach and that details from the millions of accounts have likely been exposed.
Coupang is often described as South Korea’s equivalent of Amazon.com. The breach marks the latest in a series of data leaks at major firms in the country, including its telecommunications giant, SK Telecom.
Coupang told the BBC it became aware of the unauthorised access of personal data of about 4,500 customer accounts on 18 November and immediately reported it to the authorities.
But later checks found that some 33.7 million customer accounts – all in South Korea – were likely exposed, said Coupang, adding that the breach is believed to have begun as early as June through a server based overseas.
The exposed data is limited to name, email address, phone number, shipping address and some order histories, Coupang said.
No credit card information or login credentials were leaked. Those details remain securely protected and no action is required from Coupang users at this point, the firm added.
The number of accounts affected by the incident represents more than half of South Korea’s roughly-52 million population.
Coupang, which is founded in South Korea and headquartered in the US, said recently that it had nearly 25 million active users.
Coupang apologised to its customers and warned them to stay alert to scams impersonating the company.
The firm did not give details on who is behind the breach.
South Korean media outlets reported on Sunday that a former Coupang employee from China was suspected of being behind the breach.
The authorities are assessing the scale of the breach as well as whether Coupang had broken any data protection safety rules, South Korea’s Ministry of Science and ICT said in a statement.
“As the breach involves the contact details and addresses of a large number of citizens, the Commission plans to conduct a swift investigation and impose strict sanctions if it finds a violation of the duty to implement safety measures under the Protection Act.”
The incident marks the latest in a series of breaches affecting major South Korean companies this year, despite the country’s reputation for stringent data privacy rules.
SK Telecom, South Korea’s largest mobile operator, was fined nearly $100m (£76m) over a data breach involving more than 20 million subscribers.
In September, Lotte Cards also said the data of nearly three million customers was leaked after a cyber-attack on the credit card firm.
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Key Financial Deadlines That Have Been Extended For December 2025; Know The Last Date
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