The emerging financial technology sector boosts inclusion and liquidity in emerging markets. Nonbank entities compete with traditional financial institutions for market share. Cryptocurrency uptak...
US sues Google over dominance of online ad market
The US Justice Department sued Google on Tuesday for its dominance of the online advertising market, launching a fresh legal battle against the California-based tech giant.. The case was launched by the Department of Justice (DOJ) in conjunction with eight US states: California, Colorado, Connecticut, New Jersey, New York, Rhode Island, Tennessee, and Virginia.
The US Justice Department sued Google on Tuesday for its dominance of the online advertising market, launching a fresh legal battle against the California-based tech giant.
The case was the second federal lawsuit against Google over alleged antitrust violations and the first since US President Joe Biden took office two years ago.
The earlier case targeted Google's world-dominating search engine and is expected to go to trial later this year.
In this latest suit, prosecutors took aim at Google's extremely profitable advertising business, asking that it be broken up to level the playing field for other companies.
Google's ad dealings generated more than $200 billion in sales in 2021 and is parent company Alphabet's biggest moneymaker by a wide margin.
The US said the revenue was unlawfully maintained by a monopoly that had "corrupted legitimate competition in the ad tech industry."
"Google has used anticompetitive, exclusionary, and unlawful means to eliminate or severely diminish any threat to its dominance over digital advertising technologies," the suit added.
The case was launched by the Department of Justice...
Read Full Story: https://news.kisspr.com/2023/01/24/us-sues-google-over-dominance-of-online-ad...