financetom
Business
financetom
/
Business
/
U.S. judge rules Google has a monopoly on search in antitrust case
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
U.S. judge rules Google has a monopoly on search in antitrust case
Aug 5, 2024 12:17 PM

WASHINGTON (Reuters) -Alphabet's Google broke the law with its monopoly over online searches and related ads, a federal judge ruled on Monday, in the U.S. Justice Department's first victory against a monopoly in more than 20 years.

The decision is a significant win for the Justice Department, which had sued the search engine giant over its control of about 90% of the online search market, and 95% on smartphones. The judge noted that Google had paid $26.3 billion in 2021 to ensure that its search is the default on smartphones and browsers, and to keep its dominant market share.

"The court reaches the following conclusion: Google is a monopolist, and it has acted as one to maintain its monopoly," U.S. District Judge Amit Mehta wrote.

Mehta's ruling against Alphabet's major revenue driver paves the way for a second trial to determine potential fixes, such as requiring the company to stop paying smartphone makers billions of dollars annually to set Google as the default search engine on new phones.

The ruling is the first major decision in a series of cases taking on alleged monopolies in Big Tech.

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 >
Market Chatter: Vail Resorts Shareholder Calls for CEO Change
Market Chatter: Vail Resorts Shareholder Calls for CEO Change
Jan 27, 2025
11:01 AM EST, 01/27/2025 (MT Newswires) -- Vail Resorts ( MTN ) shareholder Late Apex Partners has called for the ouster of Chief Executive Kirsten Lynch, Chief Financial Officer Angela Korch and Executive Chairman Rob Katz, The Wall Street Journal reported Monday. In a letter, Late Apex criticized Vail's insider compensation incentives, capital allocation strategy, key performance indicators and balance...
EXPLAINER-NFL Super Bowl 2025: All the facts you need to know
EXPLAINER-NFL Super Bowl 2025: All the facts you need to know
Jan 27, 2025
(Updates with teams that will compete in Super Bowl) Jan 27 (Reuters) - The defending champion Kansas City Chiefs will face the Philadelphia Eagles in the 59th Super Bowl, arguably the biggest single event in U.S. sports with a huge global audience. Here's everything you need to know about Super Bowl LIX, including who is performing at halftime. WHERE WILL...
Update: Market Chatter: UBS Cuts Hundreds of Jobs in Switzerland
Update: Market Chatter: UBS Cuts Hundreds of Jobs in Switzerland
Jan 27, 2025
10:54 AM EST, 01/27/2025 (MT Newswires) -- UBS Group ( UBS ) initiated a wave of job cuts impacting hundreds of workers in its home market of Switzerland, Bloomberg reported Monday, citing people familiar with the matter. We will keep the number of jobs cuts in Switzerland and globally as a result of the integration as low as possible, a...
Voxtur Terminates Agreement With University Bancorp
Voxtur Terminates Agreement With University Bancorp
Jan 27, 2025
10:54 AM EST, 01/27/2025 (MT Newswires) -- Voxtur Analytics ( VXTRF ) , a technology company creating a real estate lending ecosystem, on Monday terminated the agreement for University Bancorp to acquire a 50.5% stake in Blue Water Financial Technologies, an indirect subsidiary of Voxtur. University Bancorp had agreed last July to acquire the Blue Water stake for US$30 million....
Copyright 2023-2026 - www.financetom.com All Rights Reserved