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Europe confirms in-depth probe for Adobe’s $20B Figma acquisition on August 8, 2023 at 9:02 am
The European Commission (EC) has confirmed that it’s opening an in-depth investigation into Adobe’s proposed $20 billion bid for digital design software rival Figma.
The Commission said that the acquisition “may reduce competition in the global markets for the supply of interactive product design software and for digital asset creation tools.”
First announced last September, Adobe’s megabucks bid for one of its biggest competitors was always likely to attract scrutiny from regulators around the globe. The U.S. Department of Justice (DoJ) is looking closely at the deal, while the U.K. also recently confirmed that it is preparing a deeper probe on the basis that the merger would lead to a “substantial lessening of competition” in the U.K.
Europe, for its part, revealed in February that it was looking at the acquisition on competition grounds, so today’s news comes as little surprise.
The crux of the investigation will focus on whether buying Figma will remove one of Adobe major rivals and impact the broader design software market. The EC points to Figma as the “clear market leader” for interactive product design tools, noting that there is unlikely to be any other “credible” players entering the market post-acquisition. And while Adobe leads on digital asset creation tools, Figma currently serves as a “constraining influence” over Adobe. Thus, buying Figma may prevent Figma from continuing its role as an “effective competitor.”
“Adobe and Figma are two leading providers of software for the creative community in the digital sphere,” said Margrethe Vestager, the EC’s executive vice-president for competition policy, in a statement. “Many users and businesses rely on their digital design tools to excel in their work. With our in-depth investigation we aim to ensure that users continue to have access to a wide pool of digital creative tools among which to choose.”
Thresholds
In truth, the transaction didn’t actually meet the turnover thresholds set out in the EU merger regulations, meaning that the duo weren’t required to notify European regulators. However, Article 22 of the regulations contains provisions that allow individual EU member countries to refer cases to the EC if they believe a transaction will reduce competition in their own market. And that is what happened here, with more than a dozen constituents referring the acquisition to the EC.
While Europe does have a fairly robust track record of late in terms of investigating Big Tech acquisitions, it has also shown that it’s reluctant to block deals outright. In the past few months it has greenlighted Microsoft’s $68.7 billion Activision acquisition and Broadcom’s $61 billion VMware bid, albeit with strict caveats and oversight stipulations in place.
So, all is not lost yet for Adobe, but it will likely have to make some kind of assurances and compromises if it wants to get the deal over the line.
The Commission said it plans to make a decision by December 14, 2023 — roughly one month after the outcome of its investigation into Amazon’s $1.7 billion iRobot acquisition will be announced.
The European Commission (EC) has confirmed that it’s opening an in-depth investigation into Adobe’s proposed $20 billion bid for digital design software rival Figma. The Commission said that the acquisition “may reduce competition in the global markets for the supply of interactive product design software and for digital asset creation tools.” First announced last September,
President Donald Trump says the United States might one day get rid of federal income tax because of money the government collects from tariffs on imported goods. Tariffs are extra taxes the U.S. puts on products that come from other countries.
What Trump Is Saying
Trump has said that tariff money could become so large that it might allow the government to cut income taxes “almost completely.” He has also talked about possibly phasing out income tax over the next few years if tariff money keeps going up.
How Taxes Work Now
Right now, the federal government gets much more money from income taxes than from tariffs. Income taxes bring in trillions of dollars each year, while tariffs bring in only a small part of that total. Because of this gap, experts say tariffs would need to grow by many times to replace income tax money.
Questions From Experts
Many economists and tax experts doubt that tariffs alone could pay for the whole federal budget. They warn that very high tariffs could make many imported goods more expensive for shoppers in the United States. This could hit lower- and middle‑income families hardest, because they spend a big share of their money on everyday items.
What Congress Must Do
The president can change some tariffs, but only Congress can change or end the federal income tax. That means any real plan to remove income tax would need new laws passed by both the House of Representatives and the Senate. So far, there is no detailed law or full budget plan on this idea.
What It Means Right Now
For now, Trump’s comments are a proposal, not a change in the law. People and businesses still have to pay federal income tax under the current rules. The debate over using tariffs instead of income taxes is likely to continue among lawmakers, experts, and voters.
Former President Donald Trump has signed an executive order directing federal agencies to declassify all government files related to Jeffrey Epstein, the disgraced financier whose death in 2019 continues to fuel controversy and speculation.
The order, signed Wednesday at Trump’s Mar-a-Lago estate, instructs the FBI, Department of Justice, and intelligence agencies to release documents detailing Epstein’s network, finances, and alleged connections to high-profile figures. Trump described the move as “a step toward transparency and public trust,” promising that no names would be shielded from scrutiny.
“This information belongs to the American people,” Trump said in a televised statement. “For too long, powerful interests have tried to bury the truth. That ends now.”
U.S. intelligence officials confirmed that preparations for the release are already underway. According to sources familiar with the process, the first batch of documents is expected to be made public within the next 30 days, with additional releases scheduled over several months.
Reactions poured in across the political spectrum. Supporters praised the decision as a bold act of accountability, while critics alleged it was politically motivated, timed to draw attention during a volatile election season. Civil rights advocates, meanwhile, emphasized caution, warning that some records could expose private victims or ongoing legal matters.
The Epstein case, which implicated figures in politics, business, and entertainment, remains one of the most talked-about scandals of the past decade. Epstein’s connections to influential individuals—including politicians, royals, and executives—have long sparked speculation about the extent of his operations and who may have been involved.
Former federal prosecutor Lauren Fields said the release could mark a turning point in public discourse surrounding government transparency. “Regardless of political stance, this declassification has the potential to reshape how Americans view power and accountability,” Fields noted.
Officials say redactions may still occur to protect sensitive intelligence or personal information, but the intent is a near-complete disclosure. For years, critics of the government’s handling of Epstein’s case have accused agencies of concealing evidence or shielding elites from exposure. Trump’s order promises to change that narrative.
As anticipation builds, journalists, legal analysts, and online commentators are preparing for what could be one of the most consequential information releases in recent history.
What Happened at the United Nations
On Friday, Israeli Prime Minister Benjamin Netanyahu addressed the United Nations General Assembly in New York City, defending Israel’s ongoing military operations in Gaza. As he spoke, more than 100 delegates from over 50 countries stood up and left the chamber—a rare and significant diplomatic walkout. Outside the UN, thousands of protesters gathered to voice opposition to Netanyahu’s policies and call for accountability, including some who labeled him a war criminal. The protest included activists from Palestinian and Jewish groups, along with international allies.
Why Did Delegates and Protesters Walk Out?
The walkouts and protests were a response to Israel’s continued offensive in Gaza, which has resulted in widespread destruction and a significant humanitarian crisis. Many countries and individuals have accused Israel of excessive use of force, and some international prosecutors have suggested Netanyahu should face investigation by the International Criminal Court for war crimes, including claims that starvation was used as a weapon against civilians. At the same time, a record number of nations—over 150—recently recognized the State of Palestine, leaving the United States as the only permanent UN Security Council member not to join them.
International Reaction and Significance
The diplomatic walkouts and street protests demonstrate increasing global concern over the situation in Gaza and growing support for Palestinian statehood. Several world leaders, including Colombia’s President Gustavo Petro, showed visible solidarity with protesters. Petro called for international intervention and, controversially, for US troops not to follow orders he viewed as supporting ongoing conflict. The US later revoked Petro’s visa over his role in the protests, which he argued was evidence of a declining respect for international law.
Why Is This News Important?
The Gaza conflict is one of the world’s most contentious and closely-watched issues. It has drawn strong feelings and differing opinions from governments, activists, and ordinary people worldwide. The United Nations, as an international organization focused on peace and human rights, is a key arena for these debates. The events surrounding Netanyahu’s speech show that many nations and voices are urging new action—from recognition of Palestinian rights to calls for sanctions against Israel—while discussion and disagreement over the best path forward continue.
This episode at the UN highlights how international diplomacy, public protests, and official policy are all intersecting in real time as the search for solutions to the Israeli-Palestinian conflict remains urgent and unresolved.
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