Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
The move is part of a broader shake-up of Google's global government affairs and policy operations, according to the Journal. Within a matter of months, sources told the Journal, Google has restructured its policy team at the nation's capital and lost two senior officials who helped build the operation. The firms Google dropped represent about half of Google's $20 million annual lobby bill, according to the report.
Google did not immediately respond to CNBC's request for comment.
The upheaval comes after reports that the Justice Department is preparing to investigate Google on antitrust grounds. The company previously agreed to change some of its practices in a 2013 settlement with the Federal Trade Commission, which had been concerned the company could stifle competition. Today, Google still controls more than 70% of the search engine market, according to NetMarketShare.
Google has already faced three hefty fines from regulators in Europe who say the company has violated antitrust law there. Most recently, the European Union ordered Google to pay the equivalent of roughly $1.7 billion for stifling competition in the online advertisement sector. In 2018, regulators in Brussels imposed a $5 billion fine on the company for abusing the dominant position of its Android mobile operating system. A year earlier, the EU fined Google $2.7 billion for using its search dominance to favor its shopping comparison service.
Antitrust regulation has become a key issue in the U.S. and a cornerstone of presidential candidates' platforms. Shares of Google parent company Alphabet, Facebook, Amazon and Apple all fell last week on reports that the DOJ and Federal Trade Commission were divvying up antitrust oversight of the four companies.
In a speech on Wednesday, the DOJ's Assistant Attorney General Makan Delrahim laid out some potential antitrust arguments against Big Tech firms and said providing low prices to consumers cannot absolve the sector of scrutiny.