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Kuwaiti logistics company Agility s claim to recover more than $380 million it said it lost in Iraq has been rejected by an international tribunal, a document seen by Reuters showed.
Agility, one of the largest Gulf logistics companies, was also ordered to pay Iraq more than $5m for costs related to the case.
The company filed for arbitration in 2017 with the International Centre for Settlement of Investment Disputes (ICSID), which is part of the World Bank Group and handles disputes between international investors.
Agility has said Iraq indirectly confiscated its investment, which was worth over $380m, and violated a 2015 bilateral protocol between Kuwait and Iraq on encouraging the movement of capital and investment between the two countries.
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Australians woke to empty news feeds on their Facebook pages on Thursday after the social media platform
blocked all media content in a surprise and dramatic escalation of a dispute with the government over paying for content.
The move was swiftly criticised by news producers, politicians and human rights advocates, particularly when it became clear that official health pages, emergency safety warnings and welfare networks had all been scrubbed from the site, along with news. Facebook was wrong, Facebook s actions were unnecessary, they were heavy-handed, and they will damage its reputation here in Australia, Treasurer Josh Frydenberg told a televised news conference.
Epic Games founder and chief executive Tim Sweeney said Apple s control of its platform had tilted the level playing field. The 30 per cent they charge as their app tax, they can make it 50 per cent or 90 per cent or 100 per cent. Under their theory of how these markets are structured, they have every right to do that, he told reporters. Epic is not asking any court or regulator to change this 30 per cent to some other number, only to restore competition on IOS, he said, referring to Apple s mobile operating system.
The company also accused Apple of barring rivals from launching their own gaming subscription service on its platform by preventing them from bundling several games together, even though its own Apple Arcade service does that.
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News Corporation struck a global news deal with Alphabet s Google, the Rupert Murdoch-controlled media company said on Wednesday, in one of the most extensive deals of its kind with big tech.
The companies will develop a subscription platform, share advertising revenue through Google s ad technology services, build out audio journalism and develop video journalism by YouTube.
The deal comes after years of public feuding between Murdoch and Google, most recently in Australia, where Google has threatened to shut down its search engine to avoid unworkable content laws.
It is a capstone for the 89-year-old media mogul, his son Lachlan and News Corp chief executive Robert Thomson to seek compensation for premium content from platforms. Mr Murdoch previously secured payments from Apple and Facebook for their Apple News and Facebook News products.