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Google Handed Big Loss In Monopoly Case

Google Handed Big Loss In Monopoly Case

Your unbiased daily news brief

James Kratch
August 06, 2024

Good Tuesday morning. There is at least one thing Kamala Harris and Donald Trump can agree on: Going back to the moon. Have a great day!

In Today’s Brief

Hurricane Debby: Makes landfall
Bangladesh: Hasina flees
Veepstakes: Pick today
Markets: Sell-off continues
Georgia: Preseason No. 1

... and more

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Top Tips

1) Trust bust

A federal judge ruled Google has held an illegal monopoly in two market areas.

The news: Judge Amit Mehta found that Google violated antitrust laws with its text advertising and web search businesses. The decision, which came down in the U.S. District Court for the District of Columbia, is the first anti-monopoly ruling against a tech giant in decades. The Department of Justice and 38 states filed separate lawsuits in 2020 that were then merged.
The findings: Mehta wrote Google maintained its dominance by creating stiff barriers for entry and taking other measures. Exclusive deals to place its search engine on Android and Apple devices were a key facet to the decision. Google said it will appeal the decision.
Big picture: The ruling could alter how Google does business and allow Bing and other rival search engines greater market opportunities, especially when it comes to smartphones. But Google argues its dominance is due to its superiority and it should not be prohibited from making its search tools readily available.

2) Still on

Former President Donald Trump's hush money sentencing remains as scheduled.

What happened: The Supreme Court rejected a bid by the state of Missouri to block proceedings in the New York case. Missouri Attorney General Andrew Bailey was trying to have the Sept. 18 sentencing hearing delayed and Trump's gag order in the case tossed, but the high court denied the lawsuit without much explanation.
The argument: Bailey, a Republican seeking re-election this fall, claimed New York state was interfering in the presidential election. He said the gag order was preventing voters from hearing from Trump without condition. The nation's high court can hear disputes between states without lower court involvement.
Big picture: Trump is still fighting his 34 felony convictions via appeal, arguing the Supreme Court's ruling on presidential immunity should negate them. But all indications are he will be sentenced -- and could receive jail time -- less than two weeks before Election Day.

3) Political sport

Congress is ready for a fight with the World Anti-Doping Agency and ther International Olympic Committee.

The issue: Salt Lake City was awarded the 2034 Winter Olympics, but with a catch. The IOC put language in the host city contract that threatens to kill the deal if WADA's "supreme authority ... in the fight against doping is not fully respected."
Key context: The Department of Justice and federal lawmakers are investigating WADA's handling of (and the IOC's indifference to) alleged rampant doping by the Chinese Olympic team. Almost two dozen Chinese swimmers tested positive for performance-enhancing drugs before the Tokyo Games in 2021, but were allowed to compete after WADA accepted dubious excuses for the failed tests. Many of the athletes are now competing at the Paris Games.
Not backing down: Maryland Sen. Chris Van Hollen accused WADA of "blackmail" as he co-sponsored a bipartisan bill that would allow the U.S. to withhold funding to the organization if it does not ensure fair competition. The U.S. is WADA's largest financial backer.
Big picture: All indications are the IOC is just posturing. Salt Lake City successfully hosted the Winter Games in 2002 and it already has the necessary facilities in place, easing the economic strain of hosting. The 2030 event is also a potential headache, as France's conditional deal to host in Nice and the French Alps could still be submarinedby the outcome of its current political upheaval.

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Quick Tips

U.S. News

Hurricane Debby hit Florida as a Category 1 storm yesterday and could now cause significant flooding in Georgia and South Carolina. At least five people were killed while police said $1M of cocaine washed up on a beach (More)
Cardinal Sean O'Malley retired as Archbishop of Boston. The Pope Francis ally was appointed in 2003 at the height of the Catholic clergy child sexual abuse scandal unearthed by The Boston Globe; he will be succeeded by Providence Bishop Richard Henning (More)
A former Kansas police chief will face charges for his role in the raid of a local newspaper. Special prosecutors from Colorado will file two obstruction of justice charges against Gideon Cody; a probe concluded the media outlet broke no laws (More)

World News

Bangladeshi Prime Minister Sheikh Hasina resigned after 15 years in power and fled to India amid violent unrest. The country's top general said the military will form an interim government and pledged justice for those killed in protests (More)
A "standing army" of United Kingdom specialty police will be set up to deal with rioting sparked by the Southport stabbing that left three children dead. Prime Minister Keir Starmer vowed participants will face "the full force of the law" and blamed the incidents on social media misinformation (More)
Several Americans were wounded in a suspected rocket attack on a U.S. airbase in Iraq. The incident occurred as the Middle East braces for an anticipated Iranian-led attack on Israel to retaliate for the assassinations of a top Hamas leader (More)

Campaign News

Vice President Kamala Harris will name her running mate today, most likely in a video announcement. The Democratic ticket is scheduled to appear at a rally in Philadelphia; the selection had not leaked as of midnight (More)
Former President Trump has endorsed two Republican candidates in the same House race again, this time in Washington's 4th District. He is bidding to thwart Rep. Dan Newhouse's re-election bid as payback for his 2021 impeachment vote; the state has an all-party primary system (More)
The nation's largest hospitality union endorsed Harris, support that could be critical in Nevada and other swing states. UNITE HERE President Gwen Mills dismissed Trump's call to exclude tips from federal income tax "a play" for votes (More)

Business & Markets

Major indexes closed lower yesterday as a global sell-off continued to pummel Wall Street. Japan’s stock exchange had its worst day since “Black Monday” in 1987; U.S. futures were up last night (Dow -2.60%, Nasdaq -3.43%, S&P 500 -3.00%).
Mars is reportedly in talks to buy Kellanova, the parent company for Cheez-Its and Pringles. A deal would be one of the biggest in industry history; the publicly-owned snack maker has an estimated valuation of $27B (More)
CrowdStrike accused Delta Airlines of ignoring assistance offers during the recent global IT meltdown. Delta CEO Ed Bastian said the outages cost the airline $500M and indicated it would pursue legal damages against the cybersecurity firm (More)

Entertainment & Sports

Georgia is No. 1 in the college football preseason coaches poll. Ohio State is No. 2 and Oregon, Texas and Alabama round out the top-5 in that order; reigning national champion Michigan is No. 8 (More)
A John Wick sequel television series is in the works. Actor Keanu Reeves will reprise his starring role; John Wick: Under the High Table will be set immediately after the John Wick: Chapter 4 film (More)
Academy Award-nominated filmmaker David Lynch said an emphysema diagnosis will prevent him from in-person work. The Twin Peaks director, 78, said he is homebound but also claimed he has no plans to retire (More)

Quick Hitters

Fun Stuff: A dog that lives at a school in Colombia watched students buy food with paper bills. So he started picking up leaves to exchange for treats.
Go Deep: The arrest of Sinaloa cartel co-founder Ismael "El Mayo" Zambada has caused a furor on both sides of the southern border. Here is an inside look at what is known about the drug kingpin's secretive life.
Fact Check: Several European cities have instituted tourist taxes and other measures to combat overcrowding. But do they actually work as intended?
Campaign Season: Political tensions are often driven by education policy, according to a new study. Researchers found voters become more polarized when presidential candidates weigh in on issues that impact public schools at the K-12 levels.
Life Hack: You want to buy a good bottle of wine, not become an amateur sommelier. Here are some tips for working around all the various buzzwords you may encounter while shopping.
Be Smart: Do not wait until your digital safety is compromised to take action. Be proactive about online security and protect yourself with Surfshark.*

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