Antitrust

Google stock tumbled on Wednesday after a top Apple (AAPL) executive said in a court hearing that Google searches on its mobile Safari browser in April fell for the first time. Eddy Cue, Apple's senior vice president of services, made the comment at an antitrust trial involving Google-parent Alphabet's (GOOGL) internet search business. For Alphabet shareholders, the internet search business has been a worry amid new artificial-intelligence-driven competition from OpenAI's ChatGPT and others.

Alphabet's GOOGL.O Google will face a trial in September on antitrust enforcers' proposals to make it sell off part of its advertising technology business to address the company's dominance over tools used by online publishers to sell ads. U.S. District Judge Leonie Brinkema in Alexandria, Virginia, set the trial date on Friday after hearing from Google and the U.S. Department of Justice about potential remedies in the case. Both sides are expected to file detailed proposals on Monday. The DOJ will seek to have Google sell off its ad exchange...

A federal judge ruled Apple “willfully” violated a prior order alleging its App Store’s restrictions broke antitrust laws and accused one company executive of lying to the court. Judge Yvonne Gonzalez Rogers of the U.S. District Court for the Northern District of California issued a scathing ruling against Apple on Wednesday. Gonzalez Rogers said it did not comply with her previous ruling calling for the company to provide alternative methods to pay for subscriptions and services outside its App Store. The lawsuit between Apple and Epic Games stems from allegations...

A federal judge hammered Apple for violating a ruling in an antitrust case that required the company to loosen certain restrictions it imposes on software-makers in its App Store.

Judge Yvonne Gonzalez Rogers ordered the iPhone-maker to allow developers to steer users to alternate methods of paying for services or subscriptions offered in the App Store. The company also can no longer impose fees in such scenarios or restrict the ability of software-makers to offer links or otherwise communicate alternate payment options with consumers.

Google hopes to forge a licensing deal with Apple (APPL) for its artificial intelligence engine Gemini, Alphabet (GOOGL) Chief Executive Sundar Pichai said in a court hearing on Wednesday. Google stock dipped while Apple stock rose as the Nasdaq composite sold off amid growing investor worries over the U.S. economy. Apple has lagged in upgrading its iPhone assistant Siri with generative AI technology. Google's Gemini AI model family is a rival to OpenAI's ChatGPT chatbot. At an antitrust trial involving Google's internet search business, Pichai said Alphabet expects to strike...

House Judiciary Committee Chairman Jim Jordan (R-Ohio) is proposing to strip the Federal Trade Commission of its antitrust enforcement powers, a move that would shatter a core mission the agency has pursued for more than a century. The proposal seeks to transfer the FTC’s antitrust enforcement duties to the Justice Department, which has also traditionally enforced laws that prohibit corporate monopolies and anticompetitive business practices. The language is tucked into an amendment to a huge tax and spending bill moving through the House that will be discussed Wednesday.

OpenAI would be interested in buying Google's Chrome if antitrust enforcers are successful in forcing the Alphabet GOOGL.O unit to sell the popular web browser as part of a bid to restore competition in search, an OpenAI executive testified on Tuesday at Google's antitrust trial in Washington. ChatGPT head of product Nick Turley made the statement while testifying at trial in Washington where U.S. Department of Justice seeks to require Google to undertake far-reaching measures restore competition in online search. The judge overseeing the trial found last year that Google...

A huge deal just received the greenlight from bank regulators.

In another world, Capital One’s COF 1.47 %increase; green up pointing triangle $35 billion acquisition of Discover getting the go-ahead would be a bullish signal for mergers and acquisitions. But, given a lack of big deals so far this year, dealmakers have yet to make complete sense of the Trump administration’s stance on antitrust regulation.