<ul><li>Premier Energies is expected to announce its share allotment status on Friday, August 30.</li><li>The shares of Premier Energies were subscribed 74.38 times.</li><li>The shares are expected to be listed on the stock exchanges on September 3.</li></ul>Hyderabad-based Premier Energies, a manufacturer of integrated solar cells and solar panels is expected to announce the allotment status of its initial public offering (IPO) on Friday, August 30.<br /><br />The <keyword id="22970900" type="General" weightage="20" keywordseo="Premier-Energies-IPO" source="keywords">Premier Energies IPO</keyword> opened on August 27 and closed on August 29. The price band for the IPO was ₹427 to ₹450 per share.<br /><br /><h2>Premier Energies IPO subscription</h2>On its last day, the Premier Energies IPO was subscribed 74.38 times, receiving bids for 332.03 crore equity shares against 4.46 crore shares on offer.<br /><br />While the qualified institutional buyer (QIB) portion was subscribed 216.67 times, the non-institutional investor's portion was subscribed 50.04 times. The retail portion witnessed decent participation and was subscribed 7.69 times. The employee portion was subscribed 11.43 times.<br /><br /><h2>Premier Energies grey market premium</h2>The shares of Premier Energies are currently commanding a grey market premium (GMP) of ₹420 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.<br /><br /><h2>How to check Premier Energies’s IPO allotment status</h2>You can check the allotment status on the registrar’s website.<br /><br /><ul><li>To check the <keyword id="22922778" type="General" weightage="100" keywordseo="Premier-Energies-IPO-allotment" source="Orion">Premier Energies IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.<br /></li><li>Click on ‘Company Selection’ and then select ‘Premier Energies’.<br /></li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.<br /></li><li>Click on ‘Search’.<br /></li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you.<br /><br />You can also check the Premier Energies IPO allotment status on the BSE and NSE websites.<br /><br />To check the allotment status on the BSE or NSE website:<br /><br /><ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.<br /></li><li>On the website, click on 'Equity' and then select ‘Premier Energies’ from the dropdown menu.<br /></li><li>Now, enter your application number and PAN.<br /></li><li>Click on 'Search'.<br /></li></ul>You will be able to see the number of shares allotted to you.<br /><br />You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE.<br /><br /><h2>Premier Energies listing date</h2>The shares of Premier Energies will be listed on the stock exchanges on September 3.<br /><br /><em>Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice.</em><br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/business/auto/news/ducati-multistrada-v4-rs-adv-launched-in-india-at-38-40-lakh/slidelist/112912412.cms">Ducati Multistrada V4 RS ADV launched in India at ₹38.40 lakh</a><br /><br /><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-september-2024/slidelist/112841889.cms">Upcoming smartphones launching in India in September 2024</a><br /><br /></strong><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-increases-prices-of-prepaid-plans-with-netflix-bundle-new-prices-benefits-detailed/articleshow/112873781.cms"><strong>Reliance Jio increases prices of prepaid plans with Netflix bundle: New prices, benefits detailed</strong></a><br />

Premier Energies IPO allotment – How to check allotment, IPO GMP, listing date and more

Premier Energies IPO – Price band to risk factors, all you need to know

<ul><li>Three mainboard companies and six SMEs will begin their <keyword id="10012322" type="General" weightage="100" keywordseo="ipos-this-week" source="Orion">IPOs this week</keyword>.</li><li><keyword id="21372622" type="General" weightage="20" keywordseo="Premier-Energies" source="keywords" meta.keywordsubtype="org" meta.entityname="Premier Energies" meta.hostid="261" meta.entityid="Premier Energies">Premier Energies</keyword> is the biggest IPO that is scheduled to begin this week.</li><li>Here’s everything you need to know about the <keyword id="8964554" type="General" weightage="20" keywordseo="upcoming-ipos" source="Orion">upcoming IPOs</keyword> this week.</li></ul>Initial public offerings (IPOs) are gaining steam once again, with three mainboard companies and multiple small and medium enterprises (SMEs) looking to raise funds from the primary market.<br /><br />The three mainboard companies looking to raise funds from the primary market include Premier Energies, <keyword id="22920122" type="General" weightage="20" keywordseo="ECO-Mobility" source="keywords" meta.keywordsubtype="org" meta.entityname="ECO Mobility" meta.hostid="261" meta.entityid="ECO Mobility">ECO Mobility</keyword> and Bazaaar Style Retail. Apart from this, six SMEs will also launch their IPOs this week, with one SME IPO already underway.<br /><br />In this post, we look at the IPOs hitting Dalal Street this week:<br /><br /><h2>Premier Energies</h2>Premier Energies Limited, a Hyderabad-based manufacturer of solar cells and solar panels is the company looking to raise the highest funds this week. The company is looking to raise ₹2,830.4 crore, including a fresh issue of ₹1,291.40 crore and an offer for sale (OFS) component of ₹1,539 crore. The company’s IPO begins on August 27 and ends on August 29.<br /><br /><div type="Article" hostid="261" msid="112747268" title="Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more" mstype="2" mssubtype="0"></div><br /><h2>ECO Mobility</h2>Eco Mobility, a chauffeur-driven car rental service provider is looking to raise ₹601.20 crore from the market, all of which is an offer for sale and there is no fresh issue of shares. The IPO opens for subscription on August 28 and closes on August 30, 2024. The company offers chauffeur-driven cars and employee transportation services, focusing on corporates.<br /><br /><h2>Baazar Style Retail</h2>Baazar Style Retail Limited, a fashion retailer that operates in West Bengal and Odisha is looking to raise ₹834.68 crore from the primary market, which includes a fresh issue of ₹148 crore and an offer for sale component of ₹686.68 crore. The company’s IPO begins on August 30 and ends on September 3.<br /><br /><h2><keyword id="18638411" type="General" weightage="20" keywordseo="sme-ipos-this-week" source="Orion">SME IPOs this week</keyword></h2>A total of six SMEs are looking to raise funds from the primary market this week. The Indian Phosphate IPO is already underway, and three IPOs will begin on August 27, with one IPO to begin on August 28 and August 29 each. SMEs raising funds from the market include Aeron Composite, Vdeal Systems, Archit Nuwood Industries and more.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/tech/news/govt-warns-about-fake-sms-warning-users-to-update-their-pan-what-it-is-and-how-to-stay-safe/articleshow/112795812.cms">Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/orient-technologies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112747268.cms">Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more</a><br /><br /></strong><a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms"><strong>2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</strong></a><br />

Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more

<ul><li><keyword id="22929981" type="General" weightage="20" keywordseo="Resourceful-Automobile" source="Orion">Resourceful Automobile</keyword>, a <keyword id="22931365" type="General" weightage="20" keywordseo="Yamaha-dealership" source="keywords">Yamaha dealership</keyword> with two showrooms has received an amazing response for its SME IPO.</li><li>The company’s IPO has been subscribed over 400 times, receiving bids for over ₹4,700 crore.</li><li>Here’s everything you need to know about the <keyword id="22929982" type="General" weightage="20" keywordseo="Resourceful-Automobile-ipo" source="Orion">Resourceful Automobile IPO</keyword>.</li></ul>In a surprising turn of events, Resourceful Automobile, a company looking to raise funds through an SME IPO (small and medium enterprises) has received an amazing response, shocking everyone.<br /><br />The company, which operates two Yamaha bike showrooms in New Delhi was looking to raise ₹11.99 crore through an initial public offering (IPO). It ended up receiving applications worth over ₹4,760 crore as the IPO has been subscribed over 418 times.<br /><br />      <div type="Article" hostid="261" msid="112798622" title="Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more" mstype="2" mssubtype="0"></div><br />The company received bids for 40.76 crore shares against the offered 10.25 lakh shares. The company had set the share price at ₹117 per share with a lot size of 1,200 shares per application.<br /><br />The IPO is set to be listed on the BSE SME platform on August 29.<br /><br /><h2>Just eight employees</h2>Resourceful Automobile has just eight employees, three in legal and finance, two in sales, two in operations and one in human resources.<br /><br />A company that operates just two showrooms receiving such a response has resulted in mixed responses from social media, while some are talking about the expected returns, there have been calls for stricter regulation to protect the interests of retail investors.<br /><br />The company will use the funds raised to open new showrooms, repay debt and meet the working capital requirements.<br /><br /><h2>Analysts had asked to avoid the IPO</h2>Several analysts had recommended users not apply for the IPO as the company operates in a highly competitive segment of two-wheeler dealerships and has been inconsistent in its financial performance.<br /><br />For the year ending February 2024, the company reported a revenue of ₹17.23 crore with a profit of ₹1.52 crore. In March 2023, the company reported a revenue of 19.38 crore and a profit of just 41.5 lakh.<br /><br /><h2>Why did the IPO receive such a response?</h2>While its financials were not strong, one of the reasons for the robust subscription was the high expected return.<br /><br />The company is currently enjoying a grey market premium of ₹85 per share, which is around 73% of its share price.<br /><br /><h2>NSE tightens the norms for SME IPOs</h2>The NSE had already tightened the norms for SME IPOs earlier this month. Starting from September 2024, only companies with positive free cash flow to equity for at least two of the last three financial years will be allowed to list in the SME segment.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a><br /><br /><a href="https://www.businessinsider.in/stock-market/webstories/premier-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112803763.cms">Premier Energies IPO – Price band to risk factors, all you need to know</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/news/govt-warns-about-fake-sms-warning-users-to-update-their-pan-what-it-is-and-how-to-stay-safe/articleshow/112795812.cms"><strong>Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe</strong></a><br />

Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!

<ul><li><keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords">SEBI</keyword> has brought in new norms to regulate <keyword id="22205854" type="General" weightage="20" keywordseo="financial-influencers" source="keywords">financial influencers</keyword> or “finfluencers”.</li><li>The new norms prevent its regulated entities from partnering with unregistered individuals.</li><li>The new norms are aimed at minimising risks to retail investors who are easily influenced by such entities.</li></ul><keyword id="22979393" type="General" weightage="20" keywordseo="Stock-market-watchdog" source="keywords">Stock market watchdog</keyword> Securities Exchange Board of India (SEBI) has brought in new norms to regulate unregistered financial influencers or “finfluencers” as it looks to clamp down on associations between its regulated entities and unregistered individuals.<br /><br />SEBI, in three separate notifications, has brought in new norms amid growing concerns about the potential risk associated with such <keyword id="21258588" type="General" weightage="20" keywordseo="finfluencers" source="keywords">finfluencers</keyword>. SEBI's board had approved the <keyword id="20306338" type="General" weightage="20" keywordseo="new-regulations" source="keywords">new regulations</keyword> in a proposal last month.<br /><br /><h2>What are the new regulations for finfluencers?</h2>As per the new regulations, SEBI-regulated entities and their agents are restricted from engaging in financial transactions, client referrals or interaction of information technology systems with any other person who, directly or indirectly, provides advice, recommendations or makes explicit claims of return.<br /><br />No person regulated by the Board (SEBI) or the agent of such a person shall have any direct or indirect association with another person who provides advice or any recommendation, directly or indirectly, in respect of or related to a security or securities, unless the person is registered with or otherwise permitted by the Board to provide such advice or recommendation; or makes any claim, of returns or performance expressly or impliedly, in respect of or related to a security or securities, unless the person has been permitted by the Board to make such a claim," SEBI said.<br /><br />SEBI has revised the regulations governing depository participants, intermediaries, and securities contracts. This will prevent mutual fund houses, registered investment advisors (RIA) and stock brokers from partnering with such influencers.<br /><br />SEBI has however allowed an exception for a limiter period for investor education partnerships. In such partnerships, finfluencers will not be allowed to offer recommendations or make claims about returns or financial performance.<br /><br />The new norms have been introduced to protect retail investors who get easily influenced by such entities offering biased or misleading information to earn a commission.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/stock-market/webstories/baazar-style-retail-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112920678.cms">Baazar Style Retail IPO – Price band to risk factors, all you need to know</a><br /><br /><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-september-2024/slidelist/112917920.cms">Upcoming cars launching in India in September 2024</a><br /><br /></strong><a href="https://www.businessinsider.in/stock-market/news/premier-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112913671.cms"><strong>Premier Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</strong></a><br />

SEBI brings in new norms to regulate finfluencers

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5cb89df212ece218cb080bc5-2400/3474b4a59ea34022b1b9370961bcef83.jpg" border="0" alt="Zoom CEO Eric Yuan, center, celebrates the opening bell at Nasdaq as his company holds its IPO, Thursday, April 18, 2019, in New York. The videoconferencing company is headquartered in San Jose, Calif. (AP Photo/Mark Lennihan)" data-mce-source="Associated Press" data-mce-caption="Zoom CEO Eric Yuan, center, celebrates the opening bell at Nasdaq as his company holds its IPO, Thursday, April 18, 2019, in New York. The videoconferencing company is headquartered in San Jose, Calif. (AP Photo/Mark Lennihan)" /><p class="source"><span>Associated Press</span></p><p class="caption">Zoom CEO Eric Yuan, center, celebrates the opening bell at Nasdaq as his company holds its IPO, Thursday, April 18, 2019, in New York. The videoconferencing company is headquartered in San Jose, Calif. (AP Photo/Mark Lennihan)</p></div><p></p></div></div></p><ul><li><strong>The sizzling initial-public-offering market of 2019 continues with five companies valued at over $1 billion already having gone public this year.</strong></li><li><strong>While the majority of these companies have soared in their debut, retail investors have mostly struggled to benefit from the upside.</strong></li><li><strong>Markets Insider walks through the challenges that retail investors face getting pre-IPO shares and also the risks. </strong></li><li><strong>Read more stories at <a href="https://markets.businessinsider.com/">MarketsInsider.com</a></strong></li></ul><hr /><p>The initial-public-offering market has been red-hot in 2019 with several tech "unicorns" going public and cementing their multi-billion dollar status. <a href="https://markets.businessinsider.com/private-company/tradeweb">Tradeweb</a>, <a href="https://markets.businessinsider.com/private-company/pagerduty">PagerDuty</a>, <a href="https://markets.businessinsider.com/private-company/pinterest">Pinterest</a>, and Zoom<span style="background-color: #ffffff;"> have all gone public with shares rising significantly in their trading debuts.</span></p><p>All of these stocks shot up by at least 25% in their initial trade. Zoom topped the list with an 81% gain. The ride-hailing unicorn Lyft has proved to be a notable exception, with shares eeking out a small gain on the first day of trading before <a href="https://markets.businessinsider.com/news/stocks/lyft-stock-price-hits-new-low-down-35-post-ipo-2019-4-1028111481?utm_campaign=browser_notification&amp;utm_source=desktop">tumbling 20% below its IPO price</a>. </p><p>Despite the volatility, the IPO market remains red-ho<span style="background-color: #ffffff;">t with more companies to follow, including the mega-unicorn Uber which may seek a <a href="https://markets.businessinsider.com/news/stocks/lyft-stock-price-down-after-reports-of-ubers-expected-valuation-2019-4-1028101045?utm_campaign=browser_notification&amp;utm_source=desktop">valuation as high as $100 billion</a>.</span></p><p>Despite this activity, many small investors will struggle to get a piece of the pre-IPO action. Investing in initial public offerings is far more complicated than placing a trade to buy stock, as explained by <a href="https://www.fidelity.com/learning-center/trading-investing/trading/ipo-share-allocation-process">Fidelity</a>.</p><p>First off, IPOs are run by investment banks such as Goldman Sachs, Morgan Stanley, and Bank of America. Typically, a bank allocates 90% of the available shares to institutional investors, such as pension funds and hedge funds. Retail investors who who have brokerage accounts with the firm are typically allotted 10%.</p><p>All retail investors seeking to get in pre-IPO must meet brokerage requirements of minimum investable assets as well as answer <span>Financial Industry Regulatory Authority (FINRA) questions about investment style and risk tolerance.</span></p><p><span>Once those requirements are met, retail investors must review the company's prospectus, which lays out the risks of the investment, and indicate the maximum amount of shares they wish to purchase. The day before an IPO begins trading, investors are given confirmation of their share allocations as well as pricing of the issue. </span></p><p>IPOs with strong demand are over-subscribed and investors usually only receive a part of their maximum indication, sometimes as low as 10-20%, with the brokerage firm deciding the exact amount each investor receives.</p><p><span>"Typically, customers with significant, long-term relationships with their brokerage firm will receive higher priority than those with smaller or new relationships," <a href="https://www.fidelity.com/learning-center/trading-investing/trading/ipo-share-allocation-process">according</a><span style="background-color: #ffffff;"><a href="https://www.fidelity.com/learning-center/trading-investing/trading/ipo-share-allocation-process"> to Fidelity's website</a>. I</span>n other words, the rich get richer while smaller investors may receive no shares at all despite their request.</span></p><p>To the extent that brokerage firms do allocate IPO shares to smaller investors, this is usually a sign that there is limited demand for the IPO which may result in weak trading.</p><p>"Historically if my broker called me up and tried to sell me on an IPO, I would say, 'This is not a good idea,' and take a pass," Timothy Loughran, a finance professor at the University of Notre Dame <a href="https://money.usnews.com/investing/stock-market-news/articles/2018-06-14/how-can-i-buy-a-stock-at-its-ipo-price">told US News &amp; World Report</a>. "The only time they were going to go down to someone like me is if the IPO is having trouble and they're having trouble placing the shares."</p><p>Despite these challenges, some companies have made an effort to broaden the allocatio<span style="background-color: #ffffff;">n to retail investors. Most notably, Facebook added <a href="https://money.cnn.com/2012/05/07/markets/facebook-ipo-investors/index.htm">E-trade as one of the 33 underwriters to its IPO</a>. E-t</span>rade then offered shares to its nearly 3 million retail accounts.</p><p>With demand outstripping supply, however, E-trade noted that shares would be allocated in a process where<span> "asset levels" and trading history would be taken into account. Similar to the bulge-bracket brokerage houses, larger clients received a preference.</span></p><p>Despite the craze for shares, IPOs carry real risks for investors. IPO investors who held onto shares of Facebook lost almost 50% of their money within two months of its stock-market debut as the social-media company suffered doubts about its valuation and growth prospects.</p><p>The shares ultimately recovered, and is up nearly 10 fold from its post-IPO low <span style="background-color: #ffffff;">of $20.10 i</span>n August 2012. More recently, Lyft's 20% post-IPO plunge is a reminder that IPO investing is not for the faint of heart.</p><p>Retail investors still looking for IPO allocations may not have a shot at the next Zoom, but will have more luck with sectors that attract less buzz and attention. These can include public offerings of Real Estate Investment Trusts or  energy stocks which often trade as partnership structures for tax reasons. These securities are generally less suited to institutional investors, opening up the opportunity for retail investors to participate.</p>     <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/game-thrones-season-8-episode-1-premiere-details-you-missed-jon-snow-2019-4">13 details you missed in the 'Game of Thrones' season 8 premiere</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/Q8bMd0k9-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

Here's the only chance Main Street has to get in on the red-hot IPO market

<p><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container display-table float_right"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/540c7f8ceab8ea972f71f244-1200-800/rtx10tdq.jpg" border="0" alt="obama google germany prism"><p class="source"><span>REUTERS/Pawel Kopczynski </span></p><p class="caption">A member of German Piraten Partei (Pirates party) wears a mask with the portrait of U.S. President Barack Obama sporting Google Glass during a protest in Berlin's Tiergarten district, June 19, 2013.</p></img></div><p></p></div></div>IN ITS nearly 500-year history, Unter den Linden, Berlin's main boulevard, has seen many political protests. But the one held recently in front of Google's offices in the German capital must be among the most peculiar. </span></p>
<p><span style="font-size: 15px; line-height: 1.5em;">Activists demonstrated against iWright, a new software that can supposedly write novels and is supposedly backed by Google. "It's a declaration of war against all authors", an organiser said.</span></p>
<p>If all this sounds like a PR stunt, it probably was--though it is not clear what for. Still, it nicely captures the mood in Germany. Although Germans seem to love Google's services (it has a 91% market share in online search), the firm itself is seen as a digital glutton that intends to ingest everything: personal data, intellectual property, industry, even democracy. Sigmar Gabriel, Germany's economy minister and vice-chancellor, has gone so far as to suggest that the company be broken up.</p>
<p>In recent weeks things have calmed somewhat: next month Mr Gabriel is due to appear on a discussion panel with Eric Schmidt, Google's executive chairman (who is also on the board of The Economist's parent company). But Germany's Googlephobia is a big reason why Joaquín Almunia, Europe's competition commissioner, is likely to announce shortly that he plans to renegotiate a deal with Google to settle antitrust charges.</p>
<p>One reason for the aversion is, predictably, Edward Snowden's revelations. Since any German attempts to curb American spooks' snooping are doomed, Google and other big American tech firms have become ersatz targets. This is in tune with a mounting digital revulsion in Germany.</p>
<p>It has just become the first country to ban Uber Pop, a ride-sharing service based on a smartphone app, on its entire territory. Dave Eggers's "The Circle", a dystopian novel about a Google-like firm which came out in German in mid-August, has rocketed to the top of bestseller lists.</p>
<p>Politics is another reason. Mr Gabriel, who is also chairman of the Social Democrats, views the consequences of digitisation and the power of online giants as important issues for his party--not just in terms of privacy and abuse of market power, but of workers' rights.</p>
<p>"We have to formulate a new set of rules for work if we are to prevent 'click workers' from becoming day labourers void of all rights in the digital world," he wrote in an article for the Frankfurter Allgemeine Zeitung (FAZ).</p>
<p>Yet it is business interests that are mainly driving the country's Google debate. German publishers, led by Axel Springer and Hubert Burda Media, have been battling the American company for some time to get it to pay for the content it aggregates. They also increasingly compete with Google: more than half of Springer's revenues now come from digital services.</p>
<p>"<span style="font-size: 15px; line-height: 1.5em;">Google knows more about every digitally active citizen than George Orwell dared to imagine in his wildest dreams in '1984'," wrote Mathias Döpfner, Springer's boss, in an open letter to Mr Schmidt, also in the FAZ.</span></p>
<p>Mr Döpfner surprised many by endorsing Jean-Claude Juncker to become president of the European Commission in an editorial in Bild, Germany's biggest tabloid and Springer's main source of political influence. This prompted conspiracy theories that in return, Mr Juncker would be tough on Google. ("He hasn't even met Mr Juncker," retorts a Springer executive.)</p>
<p>And then there are Germany's manufacturers. They fret they will lose out from digitisation. In this age of "big data", the thinking goes, profits will migrate from physical products to data about them. Google is a digital native, whereas many German companies are data newbies.</p>
<p><div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/540c80476bb3f7844ccec62a-1200-924/merkel-google-eric-schmidt-google-germany.jpg" border="0" alt="merkel google eric schmidt google germany"><p class="source"><span>REUTERS/Fabrizio Bensch</span></p><p class="caption">Google CEO Eric Schmidt (L-R), State Premier David McAllister of Lower Saxony, German Chancellor Angela Merkel pose for the media during a photo call before the opening ceremony of the CeBIT computer fair in Hanover March 5, 2012.</p></img></div><p></p></div></div></p>
<h3>For a cheap toaster, take exit 83</h3>
<p>The biggest fear is that Germany's proud carmakers will be relegated to mere producers of "tin cans". If they lose ownership of the data and software that make self-driving cars move, and control of the display screens inside them, the firms' margins will get squeezed. There may be a more profitable business in telling a driver that the product he wants is available cheaply at the next autobahn exit than in building the car he is sitting in.</p>
<p>Such worries are not fanciful--nor is the concern that Google and other American tech giants already have too much of a head start. Google, for instance, is benefiting from powerful network effects. Its two core businesses, the search service and the online-advertising platform, feed into each other.</p>
<p>Simply put, the data the firm collects from its many users help improve its search algorithm and the ad selection, which attracts even more users and advertisers, which allows Google to improve its algorithms and infrastructure, and so on.</p>
<p>Yet even if these are real economic issues, the big question is what to do about them. In Berlin many think that regulation is the answer. In particular, Springer has lobbied to get Mr Almunia to squeeze more concessions from Google. Complicating matters for the competition commissioner, two colleagues, Michel Barnier and Günther Oettinger, in charge of the finance and energy portfolios respectively, have come out against the deal.</p>
<p>Lobbying is not the only reason why the settlement is in trouble. Even relatively neutral observers find the deal unsatisfactory. In a "preliminary assessment", the commission takes the view that Google is "diverting traffic away from competing vertical web-search services", meaning price-comparison sites.</p>
<p>But the proposed settlement is unlikely to do much to remedy the situation: Google agreed to yield three advertising slots to competitors, but its own results are still shown on top and its rivals have to take part in an auction for their allotted spots.</p>
<p>Whatever the details of the settlement, the goal of Google's critics in Germany is for regulators to go further and treat the firm as an "essential facility" that is obliged to give its rivals fair access. "We must give serious thought to the possibility of a break-up, in a similar way to the electricity and gas networks," Mr Gabriel wrote in his FAZ article.</p>
<p>Treating Google as an essential facility would be going too far. Network effects and Google's high market share notwithstanding, it would not be infeasible to duplicate its infrastructure, says the Bundeskartellamt, Germany's competition authority, in an internal report. In any case, it could not be forced to give rivals fair access without changing competition law.</p>
<p>Competition experts' assessments, and the law, may change should Google really become evil and go for world domination. But in the meantime Germany's government would do better to focus on where it can make a difference: creating an environment in which digital innovation can flourish.</p>
<p>Yet in this department, political energy is lacking: a recently presented "digital agenda" is no more than a wishlist; an effort to help Germany's industry create a common data platform, called "Industry 4.0", is languishing; and German startups consistently complain of the many bureaucratic barriers keep them from growing. Going after Google may be politically convenient, but it is hardly good policy.</p>
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