Chinese vice commerce minister said Monday that Beijing would like the U.S. to cancel "inappropriate" actions against Chinese companies.China Economyread more
Sixteen Asia Pacific countries have been negotiating the Regional Comprehensive Economic Partnership since 2013, with India's reluctance to open up its markets a major...Asia Economyread more
The secretary of State said he was traveling to Saudi Arabia and the United Arab Emirates to make sure that the U.S. is "strategically aligned" with its allies.Politicsread more
Experts say Facebook's cryptocurrency project Libra has been a catalyst for the price of bitcoin going higher.Technologyread more
Goldman Sachs helped state firm 1MDB to raise $6.5 billion in 2012 and 2013, and collected higher-than-typical fees of $600 million for the deals.Financeread more
Value investing has become increasingly irrelevant thanks to central banks and technology, according to AB Bernstein.Investingread more
Indonesian Trade Minister Enggartiasto Lukita said all 16 countries negotiating a mega Asia-Pacific trade agreement should remain in the framework.World Economyread more
Stocks in Asia Pacific traded mixed on Monday afternoon, while oil prices continued to rise as tensions between the U.S. and Iran lingered after the latter shot down an...Asia Marketsread more
His comments come after a series of rapid escalations between Washington and Tehran.World Politicsread more
The U.S. is provoking Iran and growing risks of miscalculation could lead to a "world war," according to Malaysia's Prime Minister Mahathir Mohamad.World Politicsread more
Trump's comments come after he called off strikes against the Islamic Republic this week over concerns that a military response would kill scores of people.Politicsread 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.