Alphabet hit with EU antitrust complaint by six digital rights groups
Six digital rights groups filed an EU antitrust complaint against Alphabet, alleging it violated the Digital Markets Act by making it difficult to uninstall pre-installed Android apps.
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NDTV
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- NDTV
India Will Retaliate If Proposed Carbon Tax Harms Domestic Exports: Piyush Goyal
New Delhi: Commerce and Industry Minister Piyush Goyal on Saturday said India will "react and retaliate" if the UK imposes a carbon tax in the future that harms domestic exports. The UK government in December 2023 decided to implement its Carbon Border Adjustment Mechanism (CBAM), starting in 2027. "As of now, no CBAM, we are a sovereign and a very powerful nation if anybody hurts our exports interest, we will react and hurt and retaliate or rebalance to make sure that our interest is not hurt," he told reporters when asked about the UK's proposed CBAM. "I can assure that no unilateral measure which hurts India can go away without a proportionate response from India," he added. Sources have said India flagged the issue during negotiations of the trade agreement. The comprehensive economic and trade agreement (CETA) was signed on July 24, with an aim to double bilateral trade by 2030. The issue is not in the pact, as Britain has not yet notified of the tax. Piyush Goyal added that the EU has also planned to impose CBAM, but it is going to hurt the European Union more.
Indian Express
an hour ago
- Indian Express
EU chief von der Leyen heads to Scotland for trade talks with Trump
EU Commission President Ursula von der Leyen headed to Scotland on Saturday ahead of a meeting with US President Donald Trump on Sunday afternoon, commission spokespeople said, as EU officials said the two sides were nearing a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a 'highly respected' leader. He repeated his view that there was a 50-50 chance that the US and the 27-member European Union could reach a framework trade pact, adding that Brussels wanted to 'make a deal very badly'. If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $550 billion accord agreed with Japan earlier this week. The White House has released no details about the planned meeting or the terms of the emerging agreement. The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($109 billion) of US goods in case the talks collapse. To get a deal, Trump said the EU would have to 'buy down' that tariff rate, although he gave no specifics. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15% tariff on EU goods imported into the US, mirroring the US-Japan deal, along with a 50% tariff on European steel and aluminum. The broad tariff rate would be half the 30% duties that Trump has threatened to slap on EU goods from August 1. It remains unclear if Washington will agree to exempt the EU from sectoral tariffs on automobiles, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict jeopardized $9.5 trillion of business in the world's most important commercial relationship.
Time of India
2 hours ago
- Time of India
Sundar Pichai net worth: How rich is the Google CEO - is he a billionaire?
Sundar Pichai, the CEO of Alphabet Inc., which owns Google, has officially become a billionaire. As of now, Pichai's net worth is estimated at $1.1 billion, according to the Bloomberg Billionaires Index. This billionaire status comes mainly from: Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics Degree Management Others Digital Marketing Public Policy Artificial Intelligence Leadership Product Management others Cybersecurity PGDM MBA Data Science Healthcare Design Thinking Technology Data Science Finance CXO Operations Management Project Management healthcare MCA Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details His 0.02% ownership stake in Alphabet. Large cash reserves he's built up. Alphabet, the parent company of Google, has a market value of over $2.3 trillion, which helped boost the value of Pichai's shares. In the past month alone, Alphabet's Class A stock jumped by 13%, which gave a fresh boost to Pichai's personal fortune, as per the report by Bloomberg. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Highlights from Bollywood 2025 that captured attention Learn More Undo Pichai didn't found google — but still became a billionaire Unlike other tech billionaires like, Mark Zuckerberg, Elon Musk and Jensen Huang. Pichai did not start Google himself. Because of that, Pichai never had a massive stockholding from the early days of the company — which is why his net worth is much lower than those founders. His billionaire status came only after years of compensation packages and steady stock gains at Alphabet, as per the report by Fortune. ALSO READ: SpaceX launches 28 Starlink satellites after rare network outage — Here what you need to know Live Events Pichai has sold a lot of stock over the years Over the last 10 years as CEO, Pichai has sold about $650 million worth of Alphabet shares. If he had kept those shares, they could be worth more than $1 billion today, and his total net worth would be around $2.5 billion instead of $1.1 billion. For example, in June 2025, Pichai sold about 33,000 Class C Alphabet shares at $169 each, earning about $5.5 million. But now those same shares are worth around $193 each, meaning they'd be worth over $6.4 million. Despite these sales, Pichai has stayed disciplined and transparent — and follows a legal rule called Rule 10b5-1, as stated by Fortune report. Why Pichai's share sales are legal and planned in advance Pichai's stock sales are made under Rule 10b5-1, a SEC-approved rule that lets executives plan their stock sales in advance. This rule: Prevents insider trading. Uses a pre-set formula to decide how many shares to sell, at what price, and on what date. Requires an independent third party to handle the sales. His recent sales on June 4 and July 16, 2025, were both made under this rule. Other top CEOs like Jensen Huang of Nvidia also use this same method. Fortune reported last summer that Huang was selling around $14 million in stock almost daily using Rule 10b5-1. James Reda, a compensation expert from Gallagher's HR consulting firm, explained this approach makes sense. He said, 'If you don't sell stock, you may end up like Elon Musk—borrowing big loans using stock as collateral.' Selling some shares regularly is a safer way to manage wealth, according to Reda. AI Boom Helps Push Pichai Into the Billionaire Club A big reason for Alphabet's recent stock growth is the AI boom. On Alphabet's Q2 earnings call, the word 'AI' was used around 90 times, showing how important it is to the company's strategy. The company reported 14% revenue growth year-over-year, reaching $96.4 billion in Q2, according to the report by Fortune. Google Search, YouTube ads, Google Cloud, and subscriptions all saw double-digit growth in the quarter. The stock rally—and Pichai's wealth jump—are part of a larger trend. In 2023, tech billionaires like Musk, Zuckerberg, and Larry Ellison added $585 billion combined to their fortunes, mostly thanks to AI. What Pichai said about keeping AI talent at Google Investors are concerned about whether big AI companies can hold on to their best people, especially after some staff left OpenAI to join Meta's AI team. But Pichai seemed confident on the earnings call. He said, 'We've always invested deeply in talent, including AI, for over a decade now.' ALSO READ: JD Vance torches Microsoft for axing US jobs while doubling down on H-1B visas He explained that top AI researchers care about: Working on cutting-edge technology Having access to top computing power Collaborating with the best people in the industry Pichai added that Google is competitive in all these areas and expects to keep attracting and retaining top AI talent. Sundar Pichai is now officially a billionaire. His wealth mostly comes from a small stake in Alphabet and steady compensation. He has sold a large number of shares over time—but in a legal, well-planned way. The AI boom has boosted Alphabet's value and helped grow his fortune. Pichai's path to billionaire status is different from that of the founders, but still impressive, according to the report by Fortune. FAQs Q1. Is Sundar Pichai a billionaire now? Yes, Sundar Pichai is officially a billionaire with a net worth of $1.1 billion, thanks to his Alphabet shares and long-term compensation. Q2. .How did Sundar Pichai become so rich if he didn't start Google? He became wealthy through years of stock awards, a 0.02% stake in Alphabet, and the company's AI-driven growth, despite regularly selling shares.
