GM CEO Mary Barra during an interview in Warren, Mich. on Feb. 22, 2024. (Photo: Emily Elconin/Bloomberg/Getty Images)

The U.S. Federal Trade Commission has been on quite a roll this week ahead of Lina Khan’s exit as its chair.

Its latest move? A settlement with General Motors that bans the automaker from sharing driver data with consumer reporting agencies for a period of five years.

Nearly a year ago, a New York Times report found that GM had been collecting data about people’s location and driving behavior (such as how often they exceeded the speed limit, braked hard, or drove at night) and sold it to data brokers that created risk profiles for auto insurance companies. 

You can guess what happened next: Some drivers found that their rates jumped.

In its investigation, the FTC found that GM had indeed collected and sold data from millions of vehicles using the Smart Driver feature within OnStar Connected Services. It also found that enrollment for these services was so complicated that most drivers didn’t realize what they were signing up for. (That is: inadequate consent.)

GM would share this information with brokers “sometimes as often as every three seconds,” Khan said in a statement. 

GM stopped sharing information about drivers with data brokers LexisNexis Risk Solutions and Verisk in the wake of the Times report, but this FTC settlement bars the company from doing so on an individual driver basis. It may still share anonymized information with third parties. —AN

China has begun a major probe into the U.S. chip sector, apparently following complaints from local chipmakers.

Part of this is an anti-dumping investigation relating to lower-end chips of the sort that the U.S.’s Texas Instruments sells—no companies were named, but whoever it is has allegedly been illegally undercutting Chinese rivals in China.

The other strand of the investigation focuses on the U.S.’s CHIPS Act grants and incentives for chipmakers to produce their wares on American soil. Per the China Semiconductor Industry Association, this industrial policy “violates the fundamental principles of a market economy and caused profound and significant impact on the global semiconductor supply chain.”

That is, of course, super-rich coming from China, which has directed significant state support at a range of export-oriented (particularly with tepid demand back home) manufacturing industries.

The move is plainly a retaliatory one, as the U.S. has been doing everything in its power to deny advanced chipmaking equipment to Chinese manufacturers, with an eye on hindering the country’s AI progress.

But it’s probably also timed to give China more leverage as it nears inevitable trade negotiations with the incoming second Trump administration. —David Meyer

Nintendo’s stock dropped the most it has in three months—6%, to 9,153 yen—after the Japanese gaming company shared a peek of its highly anticipated Switch 2 console. 

The two-minute teaser video showed a device that was similar to the current $300 Switch—at 146 million units sold, one of the most popular gaming consoles ever made—but larger, with snap-on controllers, USB-C, a different style of kickstand, and a new button. 

A Mario Kart title of some kind is employed to demonstrate gameplay and the new device is billed as backward-compatible. Nintendo promises to share more information on April 2; industry observers say that points to a June release date.

Why did Tokyo traders penalize the company for a successor to one of its greatest hits, now eight years old? Because the video didn’t show anything new. A series of leaks leading up to the reveal—about its screen size, controllers, game support, and more—had robbed the company of that opportunity.

Regardless, Nintendo (and the beleaguered gaming industry at large) is looking to Switch 2 for a hit. The company has recorded five straight quarters of profit declines and reduced its profit and sales forecasts for the year. —AN