Google's Antitrust Case, Trump's Frustration with Powell

Google illegally monopolized some online advertising technology markets, according to a federal judge, whose ruling marked the latest antitrust setback for the company and a challenge to its main source of revenue. US District Judge Leonie Brinkema found on Thursday that the Alphabet Inc. unit violated antitrust law in the markets for advertising exchanges and tools used by websites to sell ad space, known as ad servers. But she said the company didn’t meet the definition of a monopoly for a third market of tools used by advertisers to buy display ads. Alphabet shares quickly sank as much as 3.2% on the ruling, then slightly pared their losses. The stock was down 1.1% at $153.78 at 1:10 p.m. in New York. Brinkema’s decision marked the second time in a year that Google was found by a court to be an illegal monopolist. A trial begins Monday in Washington on a remedy after the company was found to monopolize the online search market. The Justice Department is seeking to force Alphabet to sell off its Chrome browser. In the ad technology case, Brinkema wrote in her 115-page opinion Thursday that “Google has willfully engaged in a series of anticompetitive acts to acquire and maintain monopoly power in the publisher ad server and ad exchange markets for open-web display advertising.” For over a decade, Google pushed web publishers to use its tools that both placed ads on websites and help manage their advertising business, the judge found. Today's show features: Bloomberg News Legal Team Leader Sara Forden on Google’s Antitrust Case and Supreme Court to Hear Citizenship Case Michael McKee, Bloomberg International Economics and Policy Correspondent & Bloomberg Federal Reserve reporter Catalina Saraiva on whether the Fed's independence is in question Ken Natori, President of Natori Company, on how tariffs are impacting retail sector and we Drive to the Close with ReAnn Mitrione, Founder and CFA at Callan Family Office Hosts: Carol Massar and Tim Stenovec Producer: Sebastian EscobarSee omnystudio.com/listener for privacy information.

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