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Big tech braces for wave of antitrust rulings in 2024

Livemint

Livemint · 1y ago

Big tech braces for wave of antitrust rulings in 2024

U.S. antitrust cases against tech giants Google and Meta Platforms are expected to reach a critical point in 2024, as the rulings could shape the legacy of top Biden administration regulators. Significant cases include the ongoing trial against Google, alleging its search engine is an unlawful monopoly, and another trial against Google over claims of being an illegal monopolist in the ad tech market. Additionally, the Federal Trade Commission's antitrust case against Meta Platforms, formerly Facebook, could also reach a judgment this year. Overall, 2024 could be a significant year for antitrust enforcement.

Related News

EU's Vestager triumphs in crackdown on Apple's tax deal, Google's practices

Economic Times

Economic Times · 11m ago

EU's Vestager triumphs in crackdown on Apple's tax deal, Google's practices

The European Union's antitrust chief, Margrethe Vestager, secured victories in two landmark cases against Apple and Google. These wins back her crackdown on Apple's Irish tax deal and Google's anti-competitive practices. The rulings could empower her successor to pursue similar actions against Big Tech. The court upheld the European Commission's decision to order Apple to pay 13 billion euros in back taxes to Ireland. Apple expressed disappointment with the ruling. The court also rejected Google's appeal against a 2.42 billion euro fine for using its price comparison shopping service to gain an unfair advantage. These rulings cannot be appealed.

Google makes history with rapid-fire antitrust losses

Economic Times

Economic Times · 4m ago

Google makes history with rapid-fire antitrust losses

In recent antitrust developments, Google faced historic legal losses, with federal judges ruling it had illegally built monopolies in online search and advertising. These cases mark significant victories for the government, indicating serious scrutiny of tech giants' market power. Google's legal challenges represent a broader wave of antitrust cases against major tech firms like Meta, Apple, and Amazon. While Google plans to appeal, the outcomes may reshape competitive dynamics, reinforcing government's capacity to address monopolistic practices in digital markets.

Antitrust crackdown looms over Big Tech: Apple, Google break-up orders likely

Livemint

Livemint · 1y ago

Antitrust crackdown looms over Big Tech: Apple, Google break-up orders likely

Antitrust regulators are increasing their scrutiny of Big Tech companies such as Apple and Google, raising the possibility of break-up orders. Antitrust probes have been initiated by the European Union and the United States, presenting the biggest challenge to Big Tech since AT&T's breakup in 1984. Companies like Google and Apple are facing accusations of creating barriers that hinder competition. The US Department of Justice warned Apple of a potential break-up, while European regulators may force Google to divest its ad tech business. However, the implementation of break-up orders faces legal complexities and challenges.

Donald Trump admin to press ahead with Amazon, Meta antitrust cases

Economic Times

Economic Times · 6m ago

Donald Trump admin to press ahead with Amazon, Meta antitrust cases

The Trump administration will continue its antitrust cases against Amazon and Meta, with Federal Trade Commission Chair Andrew Ferguson affirming ongoing efforts to address Big Tech's market dominance. Despite speculations of a shift due to Trump's ties with tech leaders, such as Meta's Mark Zuckerberg and Amazon's Jeff Bezos, the administration remains committed to robust antitrust enforcement. Moreover, public inquiries into tech platforms' content restrictions are being launched, alongside considerations for reforming Section 230.

EU antitrust chief Vestager to hold press conference, big tech likely in focus

Economic Times

Economic Times · 1y ago

EU antitrust chief Vestager to hold press conference, big tech likely in focus

EU antitrust chief Margrethe Vestager and EU industry chief Thierry Breton will hold a joint press conference to announce investigations into potential breaches of the Digital Markets Act (DMA) by Big Tech companies.

Big Tech's acquihire deals face regulatory scrutiny, outgoing EU antitrust official says - The Economic Times

Economic Times

Economic Times · 28d ago

Big Tech's acquihire deals face regulatory scrutiny, outgoing EU antitrust official says - The Economic Times

The European Union is planning stricter regulations for Big Tech's "acquihire" deals, where tech giants hire talent from startups. These practices are seen as ways to bypass antitrust rules. Outgoing EU antitrust head Olivier Guersent encourages national agencies to investigate such deals. The EU is using call-in provisions for better scrutiny. Acquihires can be seen as mergers, impacting effective competition, prompting the EU to push national regulators for proactive measures.

Databricks picks up MosaicML, an OpenAI competitor, for $1.3B

TechCrunch · 2y ago

Databricks picks up MosaicML, an OpenAI competitor, for $1.3B

Investors aren’t the only ones who want to get their hands on hot tech companies in the field of AI: it’s also likely to spur a big wave of M&A, too: today, Databricks announced that it would pay $1.3 billion to acquire MosaicML, an open-source startup with 63 employees.

ETtech Explainer: Google’s second big antitrust trial in US

Economic Times

Economic Times · 11m ago

ETtech Explainer: Google’s second big antitrust trial in US

The US Department of Justice (DoJ) is set to face Google in its second major antitrust trial, focused on the tech giant's monetization strategies for advertising. The DoJ argues that Google's practices are unfairly harming the industry. This trial is part of a broader push by President Biden's administration to regulate Big Tech using antitrust laws. The case follows a recent ruling that found Google had illegally monopolized online search. The trial will center on Google's adtech business, which accounts for the majority of its revenue, and the DoJ's claims that the company has engaged in monopolistic behavior.

Google CEO Sundar Pichai shows confidence in firm’s legal position on antitrust rulings, says ‘we plan to vigorously…’ | Company Business News

Livemint

Livemint · 9m ago

Google CEO Sundar Pichai shows confidence in firm’s legal position on antitrust rulings, says ‘we plan to vigorously…’ | Company Business News

Google CEO Sundar Pichai has expressed confidence in the company's legal position amidst recent antitrust rulings. During an earnings call, Pichai stated that Google plans to vigorously defend the cases and contest the proposed loss of contracts related to Google Search. While he refused to provide specifics on their plan of action, Pichai emphasized that Google is the best search engine and highlighted the company's commitment to making its products widely accessible. He also raised concerns about potential unintended consequences and the impact on the dynamic tech sector and American leadership.

Google, Apple breakups on the agenda as global regulators target tech

Economic Times

Economic Times · 1y ago

Google, Apple breakups on the agenda as global regulators target tech

Big Tech giants like Apple and Google are facing severe scrutiny from antitrust regulators in the United States and Europe. Break-up orders are being considered as potential remedies for alleged anti-competitive practices. If successful, these actions could set a precedent for regulators worldwide to take on Big Tech. Both Google and Apple have vehemently denied the accusations and will likely challenge any lawsuits. The potential break-up of these companies would parallel the historic breakup of AT&T in 1984. However, experts suggest that a breakup may not be the most viable solution due to the complex, integrated nature of these tech giants' ecosystems.

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