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BEIJING (Reuters) -China has launched an antitrust investigation into U.S. semiconductor manufacturer Qualcomm over its acquisition of Israel's Autotalks, China's market regulator said on Friday. China's State Administration for Market Regulation said the probe would look at whether Qualcomm violated China's antitrust law by not lawfully declaring some details in its acquisition of the Israeli chip designer. Qualcomm's shares were down 2.8% in premarket trading. CHINA, US TRADE TENSIONS San Diego-based Qualcomm said in June it had finalised the deal for Autotalks, which makes communications chips to help prevent car crashes, without disclosing the size, or how it had resolved earlier sticking points. Qualcomm had said in 2024 it would drop the bid for Autotalks after it failed to get regulatory approvals in a timely manner. Qualcomm did not immediately respond to a request for comment on the Chinese probe. In 2015, the major supplier of mobile phone chips paid a $975 million fine to resolve a Chinese antitrust case. The latest investigation comes after Beijing last month accused U.S. AI chip maker Nvidia of violating China's anti-monopoly law. Both probes could heighten tensions between China and the U.S. at a time when they appear to be struggling to move beyond a trade tariff truce. U.S. President Donald Trump and Chinese leader Xi Jinping are expected to meet when they attend an Asia-Pacific Economic Cooperation summit in South Korea at the end of this month. (Reporting by Liz Lee, Brenda Goh and Beijing newsroom. Editing by Jane Merriman and Mark Potter)

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Whether retirement is a dream in the distant future or right around the corner, planning is essential. London (PA Media/dpa) – Retirement opens doors to exciting prospects like travel, hobbies and more quality time with loved ones, but thinking about all the financial decisions around it can feel overwhelming. In the lead-up to giving up work for good, questions around pension pots, annuities and tax become increasingly important and tackling these less-exciting details now will enable you to enjoy the fun stuff later without the added stress. To help make the transition smoother, we enlisted the help of Robert Cochran, retirement expert at UK pension and investment company Scottish Widows, who has outlined three essential financial questions to ask yourself before stepping into this next chapter of life… 1 . What type of retirement lifestyle can I realistically expect? “The Pensions and Lifetime Savings Association (now called Pensions UK) created something called the three retirement living standards profiles – minimum, moderate and comfortable – and they’re based on expenditure in retirement,” explains Cochran. “It takes into account factors like how frequently you are going to replace your car, the type of holidays you want to go on, broadband costs and how much you spend on presents. “These standards have been set on an individual level and a couple level, and are much more achievable on a couple level.” For an idea of the kinds of saving you'll need for a basic or comfortable retirement fund, look for similar online guidelines based on living standards in the country where you plan to retire. According to guidelines for the UK, for example, the minimum living standard is set at £13,400 per year for a single person and £21,600 for a couple. A moderate standard of living requires £31,700 for one person and £43,900 for two, while a comfortable lifestyle is defined as needing £43,900 for an individual and £60,600 for a couple. 2 . Do I know the tax implications of retiring? There are a number of different ways you can access your pension savings, and there are tax implications for each of these. “One of the most common mistakes people make is not thinking about tax enough,” says Cochran. This will vary depending on where you are living and retiring. In the UK, for example: “Most people accessing their pension at 55 years old will be able to take 25% of their pension tax-free, but if you take it out as income all in one go you maximise the tax you have to pay. So, I would strongly encourage people to know what the tax implications are before they start taking any money out.” 3 . Do I want a pension annuity? If so, what type? “An annuity is a guaranteed income for life and it’s an irreversible decision. So, once you make that decision, you’ve got to stick by it,” highlights Cochran. “There are a whole host of different types of annuity with all kind of guarantees but one of the most popular, which pays the highest levels of income, will be on a single life basis with no guarantees.” Despite the popularity of this, Cochran stresses that it’s not necessarily always the best type to get, particularly if you’re in a couple. “This is because on average women live longer than men and men traditionally have bigger pension pots, so if a man goes and takes out a single basis annuity for the highest possible income he can get with no guarantees, when he dies his spouse will get nothing from that fund,” says Cochran. “So it’s particularly important for couples to talk to each other about this. Are you willing to forgo what is usually a really small amount of initial income to have a guarantee of an income for your loved one upon the death of the first spouse?” The following information is not intended for publication pa dpa coh

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(Reuters) -A group of banks including Bank of America , Citi, Deutsche Bank, Goldman Sachs and UBS will work together to explore creating blockchain-based assets pegged to G7 currencies, the banks said on Friday. The project, which is in its early stages, will explore creating assets on public blockchains which are pegged 1:1 to real-world currencies – known as stablecoins. Various banks and other financial institutions have announced plans to look at launching stablecoins, as soaring crypto prices and U.S. President Donald Trump's support for the sector has sparked a revival of interest in the idea of using blockchain in the mainstream financial system. The market for stablecoins, however, is dominated by the El Salvador-based Tether, which accounts for $179 billion of the $310 billion worth of stablecoins in circulation, according to CoinGecko. "The objective of the initiative is to explore whether a new industry-wide offering could bring the benefits of digital assets and enhance competition across the market, while ensuring full compliance with regulatory requirements and best practice risk management," the statement said. The banks involved are Santander, Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, MUFG Bank Ltd MTFGTU.UL>, TD Bank Group and UBS. France's Societe Generale, which was not included in the list, became the first major bank to issue a dollar-backed stablecoin through its digital asset subsidiary earlier this year. The token has not been widely adopted, with just $30.6 million in circulation. A separate consortium of nine European banks including heavyweights ING and UniCredit, said last month they were forming a new company to launch a euro-denominated stablecoin. (Reporting by Elizabeth Howcroft; Editing by Tommy Reggiori Wilkes)

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By Muvija M and Paul Sandle LONDON (Reuters) -Google could be forced to change its search operations in the UK after it became the first company subject to new powers from Britain's competition regulator to tackle the dominance of Big Tech. Competition regulators have long had Alphabet-owned Google in their sights and Britain's landmark ruling on Friday designating Google as having strategic market status in online search, gives the UK's regulator more power to step in. "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," the Competition and Markets Authority's Executive Director for Digital Markets Will Hayter said. POSSIBLE INTERVENTIONS The CMA's move enables it to intervene to ensure Google's search services are "open to effective competition". It is not a finding of wrongdoing and does not trigger any immediate changes, but the regulator can impose fines for non-compliance and has direct enforcement powers. It outlined changes it could require in June, such as fairer ranking in search, easier access to alternative search engines for consumers and more controls for publishers over how their content is used in AI-generated responses. It is expected to consult on any planned interventions later this year. Google's Senior Director for Competition Oliver Bethell said: "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." Google announced last month it would invest 5 billion pounds ($6.65 billion) in Britain. NEW FRONT AGAINST GOOGLE The ruling was the CMA's first under new powers to tackle Big Tech. The CMA's second probe into mobile operating systems could also result in Google receiving a designation, focused on Android. The U.S. Federal Trade Commission launched an investigation into Google and Amazon's search advertising last month, while the U.S. Department of Justice wants to force Google to sell off some of its advertising technology tools. The European Union hit Google with a $3.45 billion antitrust fine last month for anti-competitive practices in its adtech business. MORE CONTROL FOR CONSUMERS AND PUBLISHERS A shift in the political backdrop in Britain makes major intervention less likely, lawyers have said. After the CMA gained its new powers, the government told it to focus on growth and minimise uncertainty for business. It made former Amazon executive Doug Gurr the CMA's interim chair in January. Tom Smith, competition lawyer at Geradin Partners and former CMA director, said there was a strong case for removing some of the market distortions caused by Google's monopoly position. That includes giving website operators more control over how their content is used for AI training, and would remove some of Google's unfair advantage over other AI companies, he said. Google's Gemini AI assistant was not currently in the scope of the CMA's designation, the regulator said, but other AI-based search features, such as AI Overviews and AI Mode, were. ($1 = 0.7523 pounds) (Reporting by Paul Sandle and Muvija M; Editing by William James, Emelia Sithole-Matarise and Elaine Hardcastle)

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