Google’s chairman and former CEO Eric Schmidt has agreed to testify before the Senate Judiciary Committee’s antitrust subcommittee, Reuters reported on Monday. On June 24th, Google announced that the Federal Trade Commission would be reviewing its business practices. The search giant said it was “still unclear” as to what the FTC’s concerns were but that it would cooperate fully with the investigation. Watchdog groups such as Fairsearch.org have repeatedly accused Google of eangaging in anti-competitive behavior. “I look forward to discussing a number of important issues relating to Google and Internet search competition,” Senator Mike Lee, the lead Republican on the Judiciary Committee’s anti-trust subcommittee said. More →
Intel faces a record 1.45 billion fine imposed by the EU on Tuesday for alleged anti-competitive practices designed to muscle its rival AMD out of the chipset market in Europe. The eight-year investigation into the company began in 2001 after AMD filed a complaint about Intel the year prior. Results of the EU investigation reveals that Intel used its dominant financial position to pay computer manufacturers Acer, Dell, HP, Lenovo, and NEC as well as smaller retailers to postpone, cancel or avoid using and/or selling AMD products. Neelie Kroes, the Europen Union competition commissioner, further added that Intel “went to great lengths to cover up its anti-competitive actions.” The EU ordered Intel to immediately cease its anti-competitive practices and pay the hefty fine, though the amount would be held in a bank account, during the ensuing appeal process. As expected, Intel responded on Wednesday denying the allegations and vowing to appeal both the financial award and the order to change its practices. In its statement, Intel agreed to abide by the EU’s decision during the appeal process. Hit the jump for the full text of Intel’s rebuttal.