financetom
Business
financetom
/
Business
/
Update: Google Must Sell Chrome, Exit Browser Business for Five Years, Prosecutors Argue
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Update: Google Must Sell Chrome, Exit Browser Business for Five Years, Prosecutors Argue
Nov 21, 2024 6:35 PM

08:33 AM EST, 11/21/2024 (MT Newswires) -- (Updates with Google's ( GOOG ) response in the second, sixth, and seventh paragraphs.)

Alphabet's (GOOG, GOOGL) Google ( GOOG ) must sell its Chrome browser and take other major steps to end its monopoly on internet searches, the US Justice Department and a group of states said in a filing on Wednesday.

Google ( GOOG ) denounced the proposed measures as "extreme."

Among the proposed measures for ending what a judge has already ruled was Google's ( GOOG ) illegal monopoly on general search services and search text advertising were selling its Android operating system and being barred for five years from owning or acquiring any investment or interest in any search or search text ad rival, distributor, or query-based AI product or ads technology.

"Google's ( GOOG ) financial entanglements with current or future rivals risk compromising the proposed remedy," the prosecutors said in the filing. "Investments in or acquisitions of potential rivals would stifle emerging competition or reduce their incentives to challenge Google ( GOOG )."

Other proposed remedies include disallowing Google ( GOOG ) from cutting deals with manufacturers to set itself as the default search engine in devices, forcing Google ( GOOG ) to increase performance and price transparency to advertisers, ordering it to share data with rivals, and barring it from making exclusive deals that hurt rivals.

Google ( GOOG ) said in a post that the Department of Justice "chose to push a radical interventionist agenda that would harm Americans and America's global technology leadership."

The company said the "wildly overbroad proposal goes miles beyond the court's decision. It would break a range of Google ( GOOG ) products - even beyond Search - that people love and find helpful in their everyday lives."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
DBS leading race to buy controlling stake in Indonesia's Panin Bank, sources say
DBS leading race to buy controlling stake in Indonesia's Panin Bank, sources say
Mar 25, 2025
By Yantoultra Ngui and Kane Wu SINGAPORE/HONG KONG (Reuters) - DBS Group, Southeast Asia's top bank by assets, is the frontrunner to buy a controlling stake in Indonesia's Panin Bank, three people with knowledge of the matter said. The Singapore lender was competing with Malaysia's CIMB Group in the second round of the bidding process, according to one of the...
Exclusive-UBS floats concessions to broker Swiss capital compromise, say sources
Exclusive-UBS floats concessions to broker Swiss capital compromise, say sources
Mar 25, 2025
ZURICH (Reuters) - Two years since it acquired Credit Suisse to create a Swiss banking giant, UBS is trying to head off tougher regulations by offering to limit the future size of its investment bank and hold more capital, people familiar with discussions said. The 2023 collapse of Credit Suisse was a watershed for Switzerland, leaving it with just one...
Anduril says AI start-up sees good 'vibes' from new Trump Pentagon
Anduril says AI start-up sees good 'vibes' from new Trump Pentagon
Mar 25, 2025
AVALON (Reuters) - Anduril president Christian Bose said the AI-powered defence start-up, whose founder left Facebook over his early support of Donald Trump, has good vibes about the Trump administration's shakeup of defence and willingness to do things differently. Bose, who previously worked for Republican Senator John McCain, said Anduril was well positioned because the work it is doing on...
Vietnam to allow SpaceX's Starlink satellite internet service
Vietnam to allow SpaceX's Starlink satellite internet service
Mar 25, 2025
HANOI (Reuters) - Vietnam's government said on Wednesday it will allow SpaceX to launch its Starlink satellite internet service on a trial basis in the country.  There is no limit on foreign ownership of the service, the government said in a statement, adding that the trial period will last until the end of 2030. Allowing the U.S. firm to launch...
Copyright 2023-2026 - www.financetom.com All Rights Reserved