US prosecutors have urged a federal judge to impose sweeping changes on Google to dismantle its alleged monopoly on online search and advertising. Proposed remedies include forcing Google to sell its Chrome browser, share search data with competitors, and possibly divest its Android operating system. These measures could remain in place for up to a decade, overseen by a court-appointed technical committee.
The Department of Justice (DOJ) and state antitrust enforcers argued that Google’s dominance, with a 90% share of US searches, has stifled competition by controlling critical distribution channels. The DOJ aims to end deals where Google pays companies like Apple billions annually to make its search engine the default on their devices. Prosecutors also want restrictions on Google’s acquisitions in search, AI, and advertising technology, as well as provisions for websites to opt out of training Google’s AI systems.
Google has called the proposals extreme, warning they would harm consumers and the economy. Alphabet’s legal chief, Kent Walker, said the measures represent “unprecedented government overreach.” Google will present alternative proposals in December, while a trial to decide the remedies is scheduled for April.
If implemented, the proposals could reshape the tech landscape, lowering barriers for competitors like DuckDuckGo. The case highlights broader global efforts to curb the power of tech giants and promote fair competition.
Gary Wang, a former FTX executive, has avoided prison after cooperating extensively with prosecutors in the case against cryptocurrency exchange founder Sam Bankman-Fried. Judge Lewis Kaplan acknowledged Wang’s lesser role in the $8 billion fraud and commended his efforts to accept responsibility. Wang had pleaded guilty to fraud and conspiracy charges but argued he was initially unaware of the scale of the misconduct.
Wang, a former chief technology officer at FTX, admitted to altering the platform’s software under Bankman-Fried’s direction, granting Alameda Research special access to customer funds. Despite realising the fraud later, Wang continued maintaining the system but expressed regret in court, vowing to dedicate his life to making amends. Prosecutors highlighted his assistance in uncovering the fraud and his current work on tools to combat market manipulation.
The two met during a summer math camp in their youth and later studied at MIT before founding FTX. Wang was part of the close-knit group living with Bankman-Fried in a luxury Bahamian penthouse before the exchange’s collapse in 2022. The company’s failure exposed the misappropriation of customer funds, leading to Bankman-Fried’s 25-year prison sentence, which he is currently appealing.
Wang’s sentencing marks the conclusion of legal actions against Bankman-Fried’s inner circle. Others implicated included Nishad Singh, who also avoided jail, and Caroline Ellison, sentenced to two years. Prosecutors emphasised Wang’s unique skill set and role in aiding investigations, describing his cooperation as pivotal in holding the former FTX leadership accountable.
Privacy-focused search engine DuckDuckGo has urged the European Commission to launch three new investigations into Google’s compliance with the EU’s Digital Markets Act (DMA). DuckDuckGo argues that the rules, designed to curb Big Tech dominance, have not yet delivered meaningful change in the search market.
The Digital Markets Act, adopted in 2022, requires major tech firms to ensure users can switch services easily and prohibits practices that favour their own products. DuckDuckGo’s senior vice-president, Kamyl Bazbaz, claimed in a blog post that Google’s measures fall short of the law’s requirements, calling for formal probes to drive compliance.
Google is already under two DMA-related investigations concerning its app store rules and alleged discrimination against third-party services. A spokesperson for the company stated that Google is cooperating with the Commission and has made significant adjustments to its services. They emphasised consumer choice and data protection as key priorities while rejecting claims of non-compliance.
DuckDuckGo also accused Google of proposing to share anonymised search data with competitors that excludes the vast majority of search queries, rendering it ineffective. Additional allegations include failing to make switching search engines straightforward. Companies breaching the DMA could face fines up to 10% of their global annual revenue.
Paxos, a prominent blockchain infrastructure firm, has announced plans to acquire Finnish stablecoin issuer Membrane Finance, pending regulatory approval. The acquisition will grant Paxos a sought-after Finnish Electronic Money Institution licence, allowing the company to operate across 30 European countries under EU regulations.
Membrane Finance, known for its EUROe and eUSD stablecoins, launched its euro-pegged stablecoin in February 2023 but saw modest initial demand. Paxos, which already issues dollar-backed tokens like the Pax Dollar (USDP) and gold-backed cryptocurrency PAXG, had not yet ventured into the euro stablecoin market. This deal marks Paxos’ first step into offering euro-pegged digital assets.
The acquisition comes as the European stablecoin market faces tighter oversight under the Markets in Crypto-Assets (MiCA) Regulation, which took effect in July. Paxos sees this move as an opportunity to expand its reach and cater to growing stablecoin demand in Europe, further solidifying its global presence in the digital currency space.
EU antitrust regulators are expected to announce their decision on Nvidia’s proposed acquisition of Israeli AI startup Run by 20 December. The European Commission has flagged concerns that the $700 million deal, announced in April, could harm competition in the AI and chip sectors. Nvidia must gain regulatory approval before proceeding.
The watchdog will either approve the deal, with or without conditions, or open a four-month investigation if concerns persist. The scrutiny reflects broader fears about ‘killer acquisitions’, where large firms acquire startups to stifle innovation.
Nvidia‘s processors are crucial for AI applications, including tools like ChatGPT, making this acquisition significant for the tech and AI industries. The decision will have implications for competition in rapidly evolving AI markets.
The United States Department of Justice (DOJ) is reportedly pushing for Alphabet’s Google to divest its Chrome browser, escalating efforts to curb the company’s alleged monopolistic practices in digital markets. This follows a prior ruling that Google illegally dominated the search market. The DOJ also plans to address Google’s control over AI and the Android operating system.
Google, which commands two-thirds of the global browser market, denies the claims, arguing that its success stems from user preference and robust competition. It also criticises the DOJ’s proposals as extreme and potentially harmful to consumers. Prosecutors have suggested a range of remedies, including ending exclusive search agreements with companies like Apple or enforcing Chrome’s divestiture if market competition does not improve.
A trial to finalise the remedies is set for April, with a ruling expected by August 2025. Google intends to appeal any decision to divest Chrome, citing the browser’s integral role in its ad revenue and user experience.
Lyft is introducing new safety features, including rider verification badges, to enhance security on its platform. This update provides drivers with more passenger information, such as names, ratings, and verification badges, before accepting rides. The company will also implement safety alerts in certain areas, such as school zones and traffic enforcement locations, to further safeguard both riders and drivers.
The changes come alongside an easier dashcam registration process, with passengers now notified when recordings may occur during their ride. Another innovation allows drivers to report traffic conditions and hazards, contributing to real-time map updates. In addition, a new restroom finder tool will let drivers locate and rate facilities, improving convenience during long shifts.
Lyft’s competitor, Uber, launched similar safety updates earlier, including driver options to record trips via smartphone. Lyft’s initiatives signal its commitment to staying competitive while prioritising the safety and experience of its users.
The UK’s Competition and Markets Authority (CMA) has decided against investigating the partnership between Google’s parent company, Alphabet, and AI startup Anthropic. Following a detailed review, the CMA found the agreement did not qualify as a merger under UK competition law.
Concerns over competition prompted the CMA to scrutinise the deal, focusing on whether it gave Alphabet control over Anthropic’s business. The authority concluded that Alphabet’s involvement, including financial support and computing resources, did not result in material influence or loss of independence for Anthropic.
The agreement includes Google providing Anthropic with cloud services, distributing its AI models, and offering convertible debt financing. While the partnership is significant, Anthropic’s UK turnover fell below the £70m threshold required for it to qualify as a merger.
This ruling follows similar CMA decisions involving tech companies and AI startups, including clearing Microsoft’s investment in Mistral and Amazon’s $4bn stake in Anthropic. The watchdog remains vigilant about potential anti-competitive practices in the rapidly growing AI sector.
Germany‘s Federal Court of Justice (BGH) has ruled that Facebook users affected by data breaches in 2018 and 2019 are entitled to compensation, even without proving financial losses. The court determined that the loss of control over personal data is sufficient grounds for damages, marking a significant step in data protection law.
The case stems from a 2021 breach involving Facebook’s friend search feature, where third parties accessed user accounts by exploiting phone number guesses. Lower courts in Cologne previously dismissed compensation claims, but the BGH ordered a re-examination, suggesting around €100 in damages could be awarded per user without proof of financial harm.
Meta, Facebook’s parent company, has resisted compensation, arguing that users did not suffer concrete damages. A spokesperson for Meta described the ruling as inconsistent with recent European Court of Justice decisions and noted that similar claims have been dismissed by German courts in thousands of cases. The breach reportedly impacted around six million users in Germany.
The court also instructed a review of Facebook’s terms of use, questioning whether they were transparent and whether user consent for data handling was voluntary. The decision adds pressure on companies to strengthen data protection measures and could set a precedent for future claims across Europe.
Nvidia is grappling with challenges related to its highly anticipated Blackwell AI chips. Customers have raised concerns over overheating issues in its custom server racks, which are critical for training large-scale AI models. The racks, designed to house 72 AI chips each, have undergone multiple design revisions late in the production process. Despite these setbacks, Nvidia remains optimistic about meeting its shipping deadline by mid-2024.
Dell has already begun shipping Nvidia’s GB200 NVL72 server racks to customers such as CoreWeave. Nvidia described the engineering iterations as a normal part of integrating advanced systems into diverse data centre environments. The company highlighted its collaboration with leading cloud service providers to ensure successful implementation.
Past delays in Blackwell production were attributed to a design flaw, which Nvidia’s CEO Jensen Huang openly acknowledged. The flaw, linked to low production yields, required extensive collaboration with Taiwan Semiconductor Manufacturing Company to resolve. While these issues temporarily slowed progress, Nvidia remains on track for its long-term goals.
Nvidia is set to release its fiscal third-quarter earnings on Wednesday, with analysts projecting revenue of $33 billion and net income of $17.4 billion. Although shares dipped slightly on Monday, the stock has soared by 187% this year, underscoring investor confidence in the company’s AI-driven future.
