The DOJ said on Oct 8 it may ask a judge to force Google to divest parts of its business, such as its Chrome browser and Android operating system, that the Alphabet-owned company used to maintain an illegal monopoly in online search.
Barring Google from collecting sensitive user data, requiring it to make search results and indexes available to rivals, letting websites opt out of their content being used to train AI products and making Google report to a "court-appointed technical committee" are also on the table.
Alphabet investors, who have seen several antitrust actions in 2024, including a ruling on Oct 7 ordering Google to open up its app store, sent shares 1.5 per cent lower to US$161.86 at Oct 9's close after the DOJ news.
The remedies strike at the heart of the internet empire that has made Google synonymous with search and can reduce its revenue while giving its rivals more room to grow.
This story is from the October 11, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 11, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Ride on China growth story but tread cautiously, say experts
S'pore investors can go for diversified portfolio of stocks or China-related plays
S'pore-based Shein reportedly adds more banks to arrange London listing
Shein has added more banks to help arrange its potential initial public offering (IPO) that could value the online fashion retailer at £50 billion (S$85 billion), potentially one of the biggest listings in London in recent years, people familiar with the matter said.
Job seeker support scheme will be reviewed quarterly
Manpower Minister not ruling out further expanding the initiative after it is rolled out in April 2025
C&C, Gogoro launch electric scooters and charging stations
Cycle & Carriage Singapore (C&C) and Gogoro officially launched battery-swop electric scooters and charging stations in Singapore on Oct 16.
Boeing to raise up to $33b as strike weighs on finances
US aircraft manufacturer Boeing unveiled measures meant to replenish its cash flow on Oct 15, including an intention to raise up to US$25 billion (S$33 billion), as it navigates recurrent production problems and a major US strike.
NZ inflation slows to lowest rate since early 2021
New Zealand's annual inflation rate fell sharply in the third quarter, returning to the central bank's target band for the first time in more than three years.
Why are tech companies in S'pore laying off people?
Restructuring, rising employment cost and slow growth forecast among factors
Workers at Samsung's Tamil Nadu factory end strike
Workers of Samsung Electronics' Indian unit have decided to end a strike at its factory in the southern Indian state of Tamil Nadu, the company said on Oct 15, ending a labour protest that had continued for more than a month.
Widower shared account info with 'women' online, but they were scammers
Shortly after his wife died, a man shared details of his bank accounts with people he met online who claimed to be women, only to find out that some of the accounts were later used to handle scam proceeds.
All SIT graduates to get transcript of transferable skills
Move to go beyond academic grades will document students' mastery of 18 skills