Tuesday, 20 Oct 2020 09:44 PM MYT
The lawsuit, which was joined by 11 states, marks the biggest antitrust case in a generation, comparable to the lawsuit against Microsoft Corp filed in 1998 and the 1974 case against AT&T which led to the breakup of the Bell System. “Google is now the unchallenged gateway to the internet for billions of users worldwide ... For the sake of American consumers, advertisers, and all companies now reliant on the internet economy, the time has come to stop Google’s anticompetitive conduct and restore competition.”
Google, whose search engine is so ubiquitous that its name has become a verb, called the lawsuit “deeply flawed,” adding that people “use Google because they choose to — not because they’re forced to or because they can’t find alternatives. We will have a full statement this morning.” Tuesday’s federal lawsuit marks a rare moment of agreement between the Trump administration and progressive Democrats. US Senator Elizabeth Warren tweeted on September 10, using the hash tag #BreakUpBigTech, that she wanted “swift, aggressive action.”
Shares of Alphabet rose nearly one per cent after news the government lawsuit was imminent. There was some doubt in the markets that Washington lawmakers will actually come together and take action, according to Neil Campling, head of tech media and telecom research at Mirabaud Securities in London.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Goldman to pay over US$2b in US DoJ’s 1MDB probe | Malay MailKUALA LUMPUR, Oct 20 — Goldman Sachs Group Inc has reached an agreement with the US Department of Justice to pay more than US$2 billion (RM8.3 billion) for the bank's role in Malaysia's 1MDB scandal, Bloomberg News reported late on Monday. The agreement, which may be announced within days, will... Hahaha our money that got stolen we got back USD 3 billions. US just probe it n the get US 2 billions... what a smart nation we are tzafrul_aziz guanenglim
Source: malaymail - 🏆 1. / 86 Read more »
US seeks to sway Brazil on Chinese 5G with US$1b deal | Malay MailBRASÍLIA, Oct 21 — The United States promised Brazil US$1 billion (RM4.15 billion) in financing toward US imports yesterday, adding a carrot to its campaign to convince the country not to use China’s Huawei to develop its 5G network. The deal includes loans, guarantees and insurance to fund...
Source: malaymail - 🏆 1. / 86 Read more »
Bursa Malaysia inches down at opening, tracking us overnight market | Malay MailKUALA LUMPUR, Oct 20 — Bursa Malaysia inched down at opening, tracking the overnight US market, which closed lower on the stimulus plan uncertainty as the US presidential election date draws nearer. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.45 of-a-point to 1,517.66...
Source: malaymail - 🏆 1. / 86 Read more »
EU-US alliance 'on life support' after four years of Trump | Malay MailFRANKFURT, Oct 19 — Back in 2016, German Chancellor Angela Merkel greeted Donald Trump's victory with an extraordinary warning: That she would work with the US president on the condition that he respect democratic values. Things did not improve from there. Four years later, Trump's abrasive...
Source: malaymail - 🏆 1. / 86 Read more »
US prepared to meet immediately with Russia on nuclear arms control, says State Department | Malay MailWASHINGTON, Oct 20 —The United States is prepared to meet immediately with Russia to finalise a nuclear arms control agreement, the State Department said today. “We appreciate the Russian Federation’s willingness to make progress on the issue of nuclear arms control,” spokeswoman Morgan...
Source: malaymail - 🏆 1. / 86 Read more »
Indonesia rejected US request to host spy planes, say officials | Malay MailJAKARTA, Oct 20 — Indonesia rejected this year a proposal by the United States to allow its P-8 Poseidon maritime surveillance planes to land and refuel there, according to four senior Indonesian officials familiar with the matter. US officials made multiple “high-level” approaches in July... Good for Indonesia👏🏻
Source: malaymail - 🏆 1. / 86 Read more »