2024-10-10 09:00:09
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Antitrust Challenges for Google: Potential Breakup Ahead
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Google faces DOJ breakup plan over monopoly; Boeing strike, bank earnings, inflation data watched; from NYSE, TheStreet daily briefing.
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U.S. Department of Justice alleges Google's anticompetitive conduct, may seek to separate core search business from other products like Android and Chrome. Sundar Pichai, Alphabet CEO, and Lee-Anne Mulholland, Google's VP of global affairs, say case is about search distribution contracts. U.S. District Judges Amit Mehta and James Donato ruled against Google in antitrust cases. Apple receives $18-20 billion annually from Google to be iPhone's default search engine, which could be impacted. JPMo..
Big Tech - South China Morning Post
US weighs Google break-up in historic Big Tech antitrust case
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The US Justice Department is considering asking Judge Amit Mehta to force Google, part of Alphabet, to sell off parts of its business, including its search, search-related products, Chrome, Play, and Android, in a historic antitrust case. The agency is weighing structural remedies and will provide a fuller proposal on remedies next month, followed by a two-week remedies hearing in April, to mitigate Google's dominance in search and AI. Mehta will rule on the remedies by August 2025.
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