Google, Justice Department make final arguments about whether search engine is a monopoly
The government and Google are making their closing arguments in a high-stakes antitrust trial to a federal judge in Washington who must now decide whether the tech giantโs search engine constitutes an illegal monopoly.
Nippon Steel delays closing of acquisition of US Steel until late this year after US DOJ request
Nippon Steel says it has postponed the expected closing of its $14.1 billion takeover of U.S. Steel by three months after the U.S. Department of Justice requested more documentation related to the deal.
US employers scaled back hiring in April but still added 175,000 jobs in the face of higher rates
The nationโs employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market.
Russian state media is posting more on TikTok ahead of the U.S. presidential election, study says
A study by the nonprofit Brookings Institution says Russian state-affiliated accounts have boosted their use of TikTok and are getting more engagement on the short-form video platform ahead of the U.S. presidential election.
Average long-term US mortgage rate rises for again, reaching highest level more than five months
The average rate on a 30-year mortgage climbed this week to its highest level in more than five months, pushing up borrowing costs for prospective homebuyers in whatโs typically the housing marketโs busiest stretch of the year.
Judge in landmark antitrust case grills Google, Justice during closing arguments
The judge overseeing a pivotal antitrust trial focused on whether Google is stifling competition and innovation has repeatedly indicated he believes it would be difficult for a formidable rival search engine to emerge.
Number of Americans applying for jobless claims remains historically low
The number of Americans applying for unemployment benefits was unchanged last week and remains historically low as the labor market continues to show resiliency in the face of high interest rates and elevated inflation.
Artists from Universal Music Group are heading back to TikTok as new licensing deal reached
Artists from Universal Music Group, which include Drake, Adele, Bad Bunny and Billie Eilish, will be returning to TikTok as the two parties have struck a new licensing agreement following an approximately three-month long dispute.
EU announces 1 billion euros in aid for Lebanon amid a surge in irregular migration
The European Union has announced an aid package for Lebanon of 1 billion euros โ about $1.06 billion โ that will mostly go to strengthening border control to halt the flow of asylum seekers and migrants from the small, crisis-wracked country across the Mediterranean Sea to Cyprus and Italy.
New US penalties against Russia target weapons development and countries aiding in sanctions evasion
The United States has imposed new sanctions on hundreds of companies and people tied to Russiaโs weapons development program, as well as more than a dozen Chinese entities accused of helping Moscow find workarounds to earlier penalties.
Elimination of Tesla's charging department raises worries as EVs from other automakers join network
Elon Muskโs move to lay off the department responsible for Teslaโs electric vehicle chargers has touched off worries in the auto industry that EVs from other automakers will have trouble joining Teslaโs network.
J&J subsidiary proposes paying about $6.48B over 25 years to settle talc ovarian cancer lawsuits
A subsidiary of Johnson & Johnson is now proposing paying approximately $6.48 billion over 25 years as part of a settlement in the U.S. to cover allegations that its baby powder containing talc caused ovarian cancer.
Judge dismisses Meta shareholder lawsuit claiming that directors' obligations extend beyond company
A Delaware judge has dismissed a shareholder lawsuit asserting novel claims about the roles of corporate leaders and arguing that the loyalties of Meta directors and company founder Mark Zuckerberg should not lie exclusively with the social media giant.
Federal Reserve says interest rates will stay at two-decade high until inflation further cools
The Federal Reserve emphasized that inflation has remained stubbornly high and said it doesnโt plan to cut interest rates until it has โgreater confidenceโ that price increases are slowing sustainably to its 2% target.
Trial begins for financial executive in insider trading case tied to taking Trump media firm public
An insider trading trial has begun for a financial executive charged with enabling his boss and others to make millions of dollars illegally on news that an acquisition firm was taking former President Donald Trump's media company public.
Delaware judge refuses to fast-track certain claims in post-merger lawsuit against Trump Media
A Delaware judge has granted a request by attorneys for Donald Trump and Trump Media & Technology Group, parent company of his Truth Social platform, to slow down a merger-related lawsuit filed by two cofounders of the company.
Fired Google workers ousted over Israeli contract protests file complaint with labor regulators
Dozens of Google workers who were fired after internal protests surrounding a lucrative contract that the internet company has with the Israeli government have filed a complaint with labor regulators in an attempt to get their jobs back.
Eight U.S. newspapers sue ChatGPT-maker OpenAI and Microsoft for copyright infringement
A group of eight U.S. newspapers is suing ChatGPT-maker OpenAI and Microsoft, alleging that the technology companies have been โpurloining millionsโ of copyrighted news articles without permission or payment to train their artificial intelligence chatbots.
US poised to ease restrictions on marijuana in historic shift, but it'll remain controlled substance
The U.S. Drug Enforcement Administration will move to reclassify marijuana as a less dangerous drug, a historic shift to generations of American drug policy that could have wide ripple effects across the country.
New Jersey seeks fourth round of offshore wind farm proposals as foes push back
New Jersey is seeking a new round of proposals to build wind energy farms off its coastline, forging ahead with its clean energy goals even as local opposition and challenging economics create blowback to the effort.
EPA bans consumer use of a toxic chemical widely used as a paint stripper but known to cause cancer
The Environmental Protection Agency has finalized a ban on consumer uses of methylene chloride, a chemical widely used as a paint stripper but known to cause liver cancer and other health problems.
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Pay and benefits for Americaโs workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve.
Facebook and Instagram face European Union scrutiny over possible breaches of digital rulebook
The European Union is scrutinizing Facebook and Instagram over a range of suspected violations of the blocโs digital rulebook, including not doing enough to protect users from foreign disinformation ahead of EU-wide elections.
Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets
Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips.
Growing wildfire risk leaves states grappling with how to keep property insurers from fleeing
Months after a catastrophic fire burned more than 2,200 homes and killed 101 people in Hawaii, some property owners are getting more bad news โ their property insurance wonโt be renewed because their insurance company has deemed the risk too high.