Connect with us

Published

on

Google has strongly opposed a proposal by the U.S. Department of Justice (DOJ) that could force the company to sell its popular Chrome browser, warning it would harm both consumers and businesses. The DOJ is expected to present this proposal to a judge on Wednesday, according to Bloomberg.

This latest development follows a ruling in August by Judge Amit Mehta, who concluded that Google holds a monopoly in online search. Since then, the court has been considering what actions or penalties to impose. While the DOJ has not yet commented publicly on the matter, Google has made it clear that it opposes the measure.

“The DOJ continues to push a radical agenda that goes far beyond the legal issues in this case,” said Lee-Anne Mulholland, Google’s executive. The company has also expressed concerns that the proposal could extend beyond Chrome, with reports suggesting that Google could be asked to implement new measures around its artificial intelligence (AI), Android operating system, and data usage.

Google argues that the government’s intervention would have a detrimental effect on the technology sector. “The government putting its thumb on the scale in these ways would harm consumers, developers, and American technological leadership at precisely the moment it is most needed,” Mulholland added.

Dominance in Browsers and Search

Chrome remains the world’s most widely used web browser, with market tracker Similarweb estimating its global market share at 64.61% in October. In addition, Google Search commands nearly 90% of the global search engine market, according to Statcounter. Chrome’s prominence is also tied to its integration with Google Search, which is the default engine on Chrome and many smartphone browsers, including Safari on iPhones.

Judge Mehta had previously noted that Google’s position as the default search engine in Chrome is “extremely valuable real estate.” He observed that while new competitors could theoretically bid for this default position, they would need to invest billions of dollars to compete effectively.

Break-up Concerns

The DOJ had initially considered remedies that could involve breaking up Google’s business or forcing the company to separate key services like Chrome, Android, and its app store, Google Play. These actions are intended to prevent Google from using its products to promote its search engine and related services. In its filing, the DOJ hinted at the possibility of breaking up Google to reduce its competitive advantage in the market.

Google, however, has rejected the idea of splitting off parts of its business, arguing that it would disrupt its business models, increase the cost of devices, and undermine its ability to compete with Apple’s iPhone and App Store. The company also warned that breaking up Chrome and Android would make it more difficult to keep these services secure.

Impact on Google’s Financials

Despite these regulatory challenges, Google’s financial performance remains strong. In its most recent quarterly earnings report, the company announced a 10% increase in revenues, reaching $65.9 billion, driven by its search and advertising businesses. CEO Sundar Pichai also highlighted the growing use of Google’s AI-driven search tools, which are now accessed by millions of users worldwide.

Investors are closely watching Google’s stock performance as the DOJ’s proposed remedies move forward, with many speculating that these regulatory actions could impact the company’s future growth.

News

Roman Abramovich Accused of Avoiding Millions in VAT Through Superyacht Scheme

Published

on

By

Russian billionaire Roman Abramovich is facing allegations of avoiding millions of euros in VAT payments by falsely classifying five of his superyachts as commercial vessels, according to a joint investigation by the BBC, The Guardian, and the Bureau of Investigative Journalism.

The investigation revealed that between 2005 and 2012, the yachts—including The Eclipse, once the largest in the world—were labeled as commercial charters to sidestep VAT obligations. Under EU rules, private vessels are typically subject to VAT at around 20% when receiving services like refueling. By claiming these yachts were being chartered to external customers, Abramovich’s network avoided paying the tax.

However, leaked documents from Cyprus show the yachts were managed by Blue Ocean Yacht Management, a Cyprus-based company controlled by Abramovich. This company allegedly rented the vessels to entities registered in the British Virgin Islands—also owned by Abramovich—effectively creating a circular structure.

An email from 2005, written by Blue Ocean director Jonathan Holloway, detailed the scheme’s intent to avoid VAT. Holloway instructed that the structure should appear legitimate but acknowledged that a determined investigation could expose the arrangement.

“We want to avoid paying VAT on the purchase price of the yachts and where possible to avoid paying VAT on goods and services provided to the yachts,” Holloway wrote. He added that the setup must appear as separate entities, even though it was all under Abramovich’s control.

Abramovich’s lawyers deny any wrongdoing, stating that the billionaire always sought and followed expert tax and legal advice and was unaware of the alleged scheme.

Legal Actions and Outcomes
European authorities have scrutinized Blue Ocean in the past but did not appear fully aware of the extent of the yacht scheme.

In 2012, Cypriot authorities disputed Blue Ocean’s claim to VAT exemption and pursued more than €14 million in unpaid taxes for the period between 2005 and 2010. While the company contested the charges, Cyprus’s supreme court dismissed their appeal in 2021. Four months later, Blue Ocean was dissolved.

In another instance, Italian prosecutors in Trieste attempted to recover €500,000 in unpaid refueling duties in 2015. The case was dropped after Abramovich’s representatives argued the yachts were used for commercial purposes.

The allegations add to the scrutiny surrounding Abramovich, a prominent figure among Russian oligarchs, as European authorities continue to crack down on financial loopholes involving luxury assets.

Continue Reading

News

Trump Administration’s First Week Brings Sweeping Tech Policy Shifts

Published

on

By

In his first week back in office, President Donald Trump unveiled ambitious plans to reshape the U.S. technology landscape, focusing on artificial intelligence (AI), digital assets, and social media regulation.

AI Policies Revamped

President Trump signed an executive order on January 23 aimed at dismantling Biden-era policies that, according to the administration, hindered American innovation in AI. The order tasks officials with developing an AI action plan within six months, emphasizing systems free from “ideological bias or engineered social agendas.”

This move has sparked concerns over the future of the U.S. AI Safety Institute, an organization established under Biden to research the safe implementation of AI systems. Critics fear it may be dissolved as part of Trump’s broader rollback.

Additionally, Trump announced the formation of the President’s Council of Advisors on Science and Technology (PCAST), comprising 24 experts who will guide initiatives in AI, quantum energy, biotechnology, and autonomous systems. David Sacks, a former PayPal executive and Trump’s new “AI and crypto czar,” will lead efforts to ensure the U.S. remains a global leader in technology.

$500 Billion AI Infrastructure Investment

One of Trump’s cornerstone initiatives is a $500 billion (€476 billion) investment in AI infrastructure through a joint venture named Stargate. Partnering with OpenAI, Oracle, and SoftBank, the project will establish data centers and energy facilities in Texas.

While initially seeded with $100 billion (€95 billion), the investment could quintuple as companies like Microsoft, NVIDIA, and Arm join the effort. The Stargate initiative builds on preliminary plans from the previous administration, though Trump emphasized its expansion under his leadership.

Digital Dollar Ban and Cryptocurrency Push

In a significant financial move, Trump signed an executive order banning Central Bank Digital Currencies (CBDCs), citing risks to financial stability and individual privacy. Instead, the administration will develop a framework for stablecoins backed by the U.S. dollar and explore a national crypto stockpile.

The digital asset strategy aligns with Trump’s campaign pledge to make the U.S. the “crypto capital of the world.” The newly formed advisory committee on digital markets, chaired by Sacks, will present regulatory recommendations within six months.

TikTok Ban Postponed

Trump granted a 75-day extension for TikTok’s Chinese parent company ByteDance to secure a U.S. buyer, delaying an impending ban. While the app temporarily went offline on January 19, it has since been restored for users, though it remains unavailable on major app stores.

Potential buyers have surfaced, including a consortium led by YouTube star MrBeast and billionaire Frank McCourt’s “The People’s Bid.”

Tech Priorities on the Global Stage

President Trump’s early actions signal a strong focus on positioning the U.S. as a leader in cutting-edge technology while addressing privacy, security, and innovation challenges. As policies evolve, they are likely to shape the global tech landscape for years to come.

Continue Reading

News

Trump’s First Week Back in Office: A Divisive Start to His Second Term

Published

on

By

President Donald Trump’s return to office was marked by significant action and strong reactions, continuing the polarizing approach he exhibited on the campaign trail. Officially sworn in as the 47th president of the United States on Monday, Trump immediately signed hundreds of executive actions, many reversing policies enacted by his predecessor, President Joe Biden. His first week in office reflected his promises from the campaign, triggering both praise and concern among Americans across the political spectrum.

Inauguration Day: A Spectacle for All

The inauguration, despite challenges posed by unpredictable weather, quickly became a spectacle. While not everyone tuned in closely, nearly all had opinions on the day’s events. Some found the atmosphere strikingly similar to professional wrestling.

Kyle Plessa, 39, an independent who voted for Trump, compared the inauguration to a wrestling match, noting, “It felt like WWE, with all the boisterousness and showmanship.” In contrast, Greg Bruno, 67, a Trump supporter, applauded his symbolic gesture of throwing pens into the crowd, calling it “a show of who he really works for.”

Meanwhile, critics like Richard Weil, 74, an independent voter for Kamala Harris, described the speech as “bitter” and lacking a positive tone about America. Angela Ramos, 37, another independent Harris supporter, found Trump’s speech “disingenuous,” pointing out a disconnect between his words and actions.

Supporters Celebrate Promises Fulfilled

Trump’s supporters were enthusiastic about his swift action in office. Within days, he signed numerous executive orders addressing everything from immigration to the economy.

Larry Kees, 47, a Trump voter, expressed satisfaction with the executive actions, saying, “There were so many, I couldn’t keep track. He’s not like regular politicians who say one thing and do another.” Tony Flecklin, 69, agreed, emphasizing that Trump’s stance on issues like border protection and energy policy aligned with his expectations.

For Greg Bruno, Trump’s actions were a direct response to campaign promises, confirming why he was elected: “These orders tackle issues the American public wants addressed.”

Opposition Voices Concerns

On the other hand, Trump’s critics voiced concern about his actions, particularly his stance on climate change, health, and pardons for those involved in the January 6 Capitol riots.

Carlyn Jorgensen, 40, who voted for Harris, expressed unease about the presence of CEOs like Elon Musk and Jeff Bezos at the inauguration, questioning whether the U.S. was heading toward an “oligarchy.” Angela Ramos voiced alarm over the president’s decision to withdraw from the Paris Climate Accords and the World Health Organization, viewing it as harmful not only to the U.S. but also to the global community.

David Lieck, 58, a Democrat who also supported Harris, criticized Trump’s pardons, calling them “vindictive” and misaligned with national values.

A Changed President?

Both supporters and critics noted a shift in Trump’s approach as he entered his second term.

Greg Bruno observed, “He’s not under attack this time. He’s coming in as a highly experienced president, more in control.” But others, like Shantonu Mazumdar, 58, a Democrat, noted that Trump seemed “harder” and “more emboldened,” perhaps due to the support of his base.

Richard Weil, an independent voter, lamented the president’s more aggressive tone, calling him “angrier” and “bitter,” while Republican Tony Flecklin appreciated Trump’s follow-through, even if it came with a tough approach.

As Trump moves forward with his second term, his presidency remains as divisive as ever, with strong reactions from both sides of the political aisle.

Continue Reading

Trending