This weeks' edition

🇭🇰 EY is closing its Hong Kong legal arm, LC Lawyers, this January. This follows other cutbacks, including shutting down EY Riverview Law in Manchester and slashing jobs in the UK. The Hong Kong firm, known for its IPO and M&A expertise, is a small team with just five lawyers. This move reflects EY's larger strategy shift after dropping a plan to separate its consulting and audit divisions.

🔍 The UK's Competition and Markets Authority (CMA) is probing into Microsoft's partnership with OpenAI, developers of ChatGPT. This follows recent the leadership changes at OpenAI, raising questions about Microsoft's influence. The CMA's inquiry aims to determine if Microsoft's involvement could be seen as controlling OpenAI. The investigation is part of a wider scrutiny on big tech's role in the AI sector.

 🤖 The European Union is putting the brakes on Amazon's $1.4bn (£1.1bn) deal to acquire Roomba maker iRobot Corp. EU's interim competition chief, Didier Reynders, insists Amazon must make sure that rival robot vacuums rank fairly on Amazon’s site. This follows the EU Commission's objections, fearing Amazon might favour its products, potentially blocking or demoting competitors. While Amazon hasn't responded yet, they're expected to address these competition concerns to avoid the deal being vetoed.

🤖 US company Nvidia is facing stiff competition from Huawei, a rising star in AI chip development. Nvidia, heavily reliant on the Chinese market, sees Huawei as a major threat, especially as the US tries to reduce tech exports to China. Huawei's recent successes in chipmaking and expanding into electric vehicles and smartphones are challenging Nvidia's dominance and could reshape the tech industry landscape.