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The antitrust verdict against Google may potentially expose Apple to a financial risk of $20 billion.

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3 months ago

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Wall Street analysts suggested that a possible solution for Google to prevent antitrust lawsuits could be to end the deal that makes its search engine the default on Apple devices.

According to analysts at Morgan Stanley, Google pays Apple approximately $20 billion per year, which amounts to around 36% of its earnings from search advertising produced through the Safari browser.

According to analysts, if the acquisition is cancelled, the iPhone manufacturer might experience a decrease in earnings ranging from 4% to 6%.

According to media reports in May that referenced a document submitted by the Department of Justice in the antitrust case, the agreement is in effect until at least September 2026, and Apple has the authority to independently prolong it for an additional two years.

“The judge is expected to rule that Google should cease paying for default placement or that companies such as Apple should actively encourage users to choose their search engine instead of setting a default option and allowing consumers to modify settings if desired,” stated Evercore ISI analysts.

Apple’s stock remained stable on Tuesday, failing to match the overall market’s rebound following Monday’s worldwide sell-off. The Alphabet stock saw a slight modification, decreasing by 4.5% in the preceding trading session.

“The main point here is that if you have a strong position in the market with a product, it is advisable to refrain from using exclusive agreements and ensure that any agreement you make allows the buyer to freely choose to substitute the product,” stated Herbert Hovenkamp, a law professor at the University of Pennsylvania.

Indeed, the “remedy” stage may be protracted, subsequently leading to possible appeals to the U.S. Court of Appeals, the District of Columbia Circuit, and the U.S. Supreme Court. The legal dispute might last until 2026.
Artificial Intelligence Malfunction

If the partnership is canceled, Apple will have other possibilities, such as providing users with options like Microsoft Bing or potentially introducing a new search product utilizing OpenAI’s technology.

Experts concur that the decision will accelerate Apple’s transition to AI-driven search services. It has lately declared its intention to integrate OpenAI’s ChatGPT chatbot into its products.

Apple has announced that it is engaging in discussions with Google to incorporate the Gemini chatbot, along with other artificial intelligence models, as part of its strategy to move away from exclusive agreements that could attract regulatory scrutiny.

Apple is enhancing Siri with artificial intelligence (AI) technology, empowering it with greater capabilities to manage challenging tasks like composing emails and engaging with messages.

Although it is anticipated that these endeavors will generate minimal revenue in the near future, they have the potential to make use of the emerging technologies.

“Apple may perceive this as a transient obstacle, particularly considering its substantial earnings from the Google search agreement. However, it also presents an opportunity for the company to shift its focus towards artificial intelligence solutions for search,” stated Gadjo Sevilla, an analyst at Emarketer.

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Petrol prices are expected to experience another increase in Pakistan.

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20 hours ago

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The inflation-affected nation is expected to encounter another increase in petrol prices, with recommendations indicating a rise of Rs. 2.58 per litre for petrol and Rs. 5.91 per litre for high-speed diesel.

Sources indicate that, if sanctioned, petrol prices will ascend to Rs. 250.96 per litre, whereas high-speed diesel will be priced at Rs. 261.05 per litre.

Sources indicated that the suggested increase is due to the elevated premium on petroleum products in the worldwide market and rising import expenses.

The premium on imported petroleum products has increased, leading the government to contemplate pricing modifications effective November 16, sources indicated.

On October 31, the federal government published the prices of petroleum products for the upcoming fortnight, increasing the prices of petrol and high-speed diesel.

A notification announced an increase in petrol price by Rs 1.35, raising it to Rs 248.38 a litre. The price of high-speed diesel was fixed at Rs 255.14 per litre after an increase of Rs 3.85.

Also read: Pakistan’s weekly inflation jumps to 15.02pc

Simultaneously, the costs of light diesel and kerosene oil were reduced. The statement states that kerosene oil is priced at Rs 148.5 per litre following a reduction of Rs 4.92.

The cost of light fuel was reduced by Rs 2.61 to Rs 147.51 per litre.

The rampant hike in the prices came at the time when the weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed an increase of 0.28 percent for the combined consumption groups during the week ended on October 17, the Pakistan Bureau of Statistics (PBS) reported.

According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 319.79 points as compared to 318.91 points during the past week.

In comparison to the same week last year, the SPI for the combined consumption group during the reviewed week experienced a 15.02 percent increase.

The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups.

Likewise, SPI for the lowest consumption group of up to Rs 17,732 witnessed increase of 0.27 percent and went up to 313.74 points from last week’s 312.91 points.

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PIA-Mora Agreement Regarding Hajj Flights: PIA Will Offer Travel Services to 35,000 Hajj Pilgrims Under Government Program

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20 hours ago

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The Ministry of Religious Affairs and PIA have finalised an agreement about hajj flights.

According to the deal, the national flag airline would offer travel accommodations to thirty-five thousand pilgrims participating in the government-sponsored hajj program.

The spokesperson for the Ministry of Religious Affairs stated that agreements with Saudi Airlines and other domestic carriers will be concluded shortly.

Agreement signed between ministry of religious affairs and pia regarding hajj flights: religious affairs ministry spokesperson

The national airline will offer travel services to 35,000 official pilgrims. spokesperson for the Ministry of Religious Affairs

The contract was executed yesterday at the Ministry of Religious Affairs. spokesperson

The agreement was signed by PIA CEO Air Vice Marshal Aamir Hayat and Additional Secretary of Religious Affairs Dr. Syed Attaur Rahman. spokesman

PIA CEO Air Vice Marshal Aamir Hayat reiterated his commitment to provide the best facilities to hajj pilgrims

Contracts with Saudi Airlines and other regional carriers will be concluded shortly. spokesperson for religious affairs.

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PML-N President Nawaz Sharif’s Media Statement: Pak-US Relations Remain Stable and Will Enhance Following President-Elect Donald Trump’s Inauguration

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Nawaz Sharif, President of the Pakistan Muslim League-Nawaz, has spoken hope regarding the stability and potential enhancement of Pakistan’s relations with the United States following President-Elect Donald Trump’s decisive victory in the recent US elections.

The PML-N President stated that the Indian cricket team ought to have visited Pakistan for the forthcoming Champions Trophy 2025, which may have enhanced bilateral relations.

Nawaz criticized the Pakistan Tehreek-e-Insaf on smog pollution in Punjab, questioning, “Where is the billion-tree tsunami? Where are the billion trees, the 5 million jobs, and the dams?” I am unable to perceive anything. PTI should identify the project initiated during its governance at the federal level.

Chief Minister Punjab Maryam stated that the smog issue has persisted for long years and cannot be rectified instantaneously; nonetheless, we are exerting our utmost efforts to address it. We are undertaking all necessary measures to address this issue. No measures were implemented previously to address this issue.

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