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Google must sell Chrome, says US DoJ
The US Department of Justice (DoJ) has urged Google to divest its Chrome browser and Android mobile operating system to dismantle its alleged monopoly in online search.
This follows an earlier ruling by Judge Amit Mehta declaring Google holds an illegal monopoly for abusing its control over the search market and key distribution channels.
The DoJ claims Google’s control over Chrome and Android obstructs competition with prosecutors suggesting strict measures, such as prohibiting exclusionary agreements like the one with Apple that designates Google as the iPhone’s default search engine.
Google criticised the proposal, deeming it part of “a radical interventionist agenda” that would damage consumer security, product quality, and US tech leadership. The company plans to respond formally next month.
A final court decision is expected in 2025.
Australia’s proposed social media ban for children faces controversy after Musk tweet
A Senate inquiry into the Australian government’s proposal to ban children under-16 from social media received 15,000 submissions in just 24-hours after Elon Musk posted about it on X.
The post, sharing Prime Minister Anthony Albanese’s announcement on X, amplified the issue to millions of users on the platform.
The bill seeks to impose fines of up to $50 million on social media companies that fail to block underage users. Parents and children bypassing the rules won’t face penalties.
“Seems like a backdoor way to control access to the internet by all Australians,” Musk wrote in response to Mr Albanese’s post.
If passed, the law will take effect in 12 months, giving platforms time to comply. Labor expects Coalition support despite ongoing concerns that the process was rushed, and over potential harm to young users.
Amazon Japan raided over alleged antitrust violations
Japan’s Fair Trade Commission conducted an on-site inspection of Amazon Japan over suspicions of violating anti-monopoly laws by pressuring sellers to lower prices in exchange for favourable product placement.
The investigation focuses on Amazon’s “Buy Box” system, which allegedly prioritises products with competitive pricing and mandates sellers use Amazon’s logistics and payment services to qualify for promotion.
This is not Amazon Japan’s first antitrust issue; it faced similar scrutiny in 2018 but avoided penalties by agreeing to improve its business practices.
Globally, Amazon is under similar investigations in the EU, UK, and US, with concerns over self-preferencing and price manipulation. The US Federal Trade Commission recently alleged Amazon’s practices raised household costs by over $1 billion.
Amazon Japan stated that it will fully cooperate with authorities. If found guilty, Amazon could face significant fines and stricter regulatory oversight.
Goldman Sachs faces $900m loss after Northvolt bankruptcy
Goldman Sachs has taken a $900 million hit after Swedish battery maker Northvolt filed for Chapter 11 bankruptcy last week.
As Northvolt’s second-largest shareholder, Goldman’s private equity funds wrote down their 19% stake to zero, a stark reversal from optimistic valuations earlier this year.
The collapse also impacted Volkswagen, Northvolt’s largest shareholder, and raised concerns about investor confidence in Europe’s green energy initiatives.
Northvolt, once seen as a symbol of Europe’s ambitions to rival Asia in battery manufacturing, struggled with debt exceeding $5.8 billion and insufficient cash to sustain operations.
While its factory in Sweden gained traction, aggressive expansion plans in Germany and Canada strained resources despite substantial government subsidies. Northvolt now seeks $1-1.2 billion to restructure and exit bankruptcy by early 2024.
UK Government offers up to £3.5m towards satellite connectivity pilots in remote communities
The UK Space Agency, in partnership with government and European agencies, is funding innovative satellite projects to tackle connectivity challenges in remote UK areas.
With up to £3.5 million in funding, these pilots will test hybrid solutions combining Low Earth Orbit (LEO) and Geostationary Orbit (GEO) satellites with mobile and wireless networks, aiming to deliver gigabit-capable internet to hard-to-reach regions.
Projects on Rathlin Island, Northern Ireland, and Papa Stour, Shetland, will trial systems to enhance broadband reliability, support local economies, and improve essential services like education, healthcare, and conservation.
Rathlin’s solution integrates advanced satellite and wireless technologies to address its seasonal population surges, while Papa Stour’s project explores community-managed models to extend connectivity without heavy on-site maintenance.
Additionally, portable connectivity solutions, adaptable for emergency services and businesses, will be developed to provide high-speed internet in mobile settings.
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