Intel Fights €376 Million Antitrust Fine over Market Practices

Today’s ESG Updates

• Intel Challenges €376 Million EU Fine Over Anti-Competitive Practices: The U.S. chipmaker argues EU penalty for blocking rivals is unfair.
• Apple Blocks Fortnite on iPhones Amid Legal Dispute: Epic Games claims Apple has cut off access to the popular game in the U.S. and EU.
• CBRE Invests in ENGIE’s 2.4 GW Battery Storage Portfolio: Partnership strengthens clean energy move with storage projects in Texas and California.
• Texas Heat Wave Breaks Records, Strains Power Grid: Record-high temperatures test public health and electricity supply.

Intel challenges €376 million EU fine over anti-competitive practices

Intel is contesting a 376 million euro fine imposed by EU antitrust regulators for anti-competitive practices, claiming it is disproportionate. The fine stems from Intel’s payments to HP, Acer, and Lenovo to delay rival products between 2002 and 2006. Although the General Court annulled part of a previous 1.06 billion euro fine in 2022, it upheld part of the original decision. Intel claims the fine doesn’t match the nature of its violations but the EU insists the penalty is fair. A final ruling is expected soon. Companies can stay ahead of the latest legislation and regulations by leveraging ESG solutions.

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Further reading: Intel spars with EU regulators over $421.4 million antitrust fine

Apple blocks Fortnite on iPhones amid ongoing legal dispute with Epic Games

Apple has blocked access to the “Fortnite” video game on iPhones in the U.S. and through Epic Games’ store in the European Union, according to Epic. The game will remain unavailable worldwide until Apple lifts the block. Although the reasons for the blockage were not specified by either party, this move comes amid an ongoing legal dispute between Apple and Epic over Apple’s 30% commission on in-app purchases. This follows a ban on Fortnite in 2020, but the game was later allowed back in 2023 after pressure from the EU. Epic recently won a legal case against Apple.

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Further reading: Apple blocks access to video game Fortnite in US, EU, Epic Games says

CBRE Investment Management joins ENGIE in $2.4 GW battery storage deal in Texas and California

ENGIE North America announced a significant investment from CBRE Investment Management in a portfolio of battery storage assets located in Texas and California, totaling 2.4 GW across 31 operational projects. This deal, one of the largest battery storage financing transactions to date, supports the clean energy move by addressing the intermittent nature of renewable energy sources like wind and solar. It also aims to meet growing energy demand from transport and AI sectors, the latter of which have ballooned recently. ENGIE sees this partnership as a major step in strengthening its North American strategy and grid resilience.

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Further Reading: CBRE IM Invests in Large-Scale Engie Battery Storage Portfolio in Texas and California

Texas heatwave breaks records and strains power grid amid continuing climate crisis

Texas is experiencing an intense heatwave with record-breaking temperatures, ranging from 100°F to 111°F across the central and southern regions. The Lone Star State is now hotter than Death Valley which poses serious health risks for those without air conditioning or sufficient water supplies. The state’s power grid has also been tested by the heat as electricity demand is higher than ever. Experts have linked the extreme temperatures to the global climate crisis as there are more frequent and severe heat waves. Climate action efforts remain stalled under the Trump administration’s policies which could exacerbate the issue. Companies can use ESG tools to stay updated on the latest climate information.

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Further reading: Texas swelters as record-breaking heatwave sweeps across state

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Rubaitul Azad