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EU upholds Google antitrust fine, Amazon bumps driver wages, Foxconn invests in India chip deal

Notable business headlines include Google losing most of its appeal to overturn a $4 billion antitrust fine, Amazon investing $450 million into wage increase and benefits for its drivers ahead of the holiday season, and Taiwanese electronics maker Foxconn making a $19.4 billion deal to manufacture its semiconductor chips in India.

Video Transcript

[AUDIO LOGO]

JULIE HYMAN: Some other business headlines that we're watching now. Google losing most of its appeal to overturn a $4 billion antitrust fine from the European Union. The EU's general court upheld the 2018 decision that alleged Google abused the market dominance of its Android software to make Google and Google Chrome the dominant search engine and browser on smartphones.

The court did annul one amendment concerning the payment of manufacturers to pre-install Google on all phones. This case is the biggest out of the three antitrust fines that the EU levied against Google. They total $8 billion altogether.

Amazon is planning to raise pay and benefits for its delivery drivers as holiday delivery season approaches. The Ecommerce giant investing $450 million into wage increases and benefits. This will affect drivers employed by the Delivery Service Partners Network. That's a program that was started in 2018. Other benefits include education stipends and 401(k) investment program.

And Taiwanese electronics maker Foxconn investing over $19 billion to make semiconductors in India. The investment is backed by the Indian government and is paying for a portion of the project. This, part of the country's incentive plan to kick start its own tech industry amid the global chip shortage. Foxconn is also partnering with local conglomerate [? Vedanta, ?] one of the India's biggest mining companies. Brad.