This week we bring you an insight into the US Justice Department potential plans’ to split Google. In other news, we talk about the aftermath of Hurricane Milton, the Israeli attacks that wounded two UN peacekeepers, and the possible dawn of a trade war between the EU and China. All this and much, much more in our most recent issue! Have read to start your week well informed!
Spotlight: Can you imagine a different kind of Google?
by Elisa Latora
Attempting to contrast anticompetitive behavior in the big tech industry is no easy feat. Attempting to split Google into smaller sections of its mother company seems unimaginable. Yet, this could become a reality according to a U.S. Justice Department announcement from Tuesday. The Justice Department is reportedly considering asking a federal judge to mandate Google to split and divest from parts of its business like Chrome, Android or Google Play. This follows in the aftermath of a landmark ruling in August, which accused Google of making illegal deals with other companies such as Apple, Android and Samsung in order to maintain a monopoly over internet searches – currently it is estimated that 90% of internet searches in the US are handled by Google.
Even further, the latest blow to Google’s anticompetitive behaviour came just last Monday, when a US federal judge ruled that Google must allow Android users to download competing third-party Android stores, opening up Google Play to more competition. The lawsuit, filed by Epic Games—the maker of Fortnite—argued that the Google Play store restricted competition by excessively controlling how users accessed apps on Android devices. This is not a standalone move, with the EU this year requiring Apple to open up its own App Store.
Ok, but it is not the first time that a proposal to divest Google from parts of this business has come up. Already in 2023, the EU threatened Google with an order to sell its AdTech business following concerns it had illegally distorted competition in the online advertising technology industry. In preparation to what may follow from Tuesday’s announcement, Google has already stated it will appeal to any court ordered break-up. This is indeed a strategy that worked for Microsoft, caught in a similar case back in 2000. Perhaps, more than twenty years on, and with an apparently shared US and EU crackdown on tech policy, the outcome may be different, but only time will tell.
Around the World
by Vatsal Aggarwal and Giulio Savare
Ten dead after Hurricane Milton carves path of destruction in Florida. Hurricane Milton caused widespread devastation in Florida, spawning tornadoes and unleashing torrential rain and strong winds that destroyed homes and left millions without power. At least 10 people were killed, and while the storm weakened to a Category 1 after landfall, it still caused significant damage. Tornadoes tore through southern Florida, killing four people and destroying homes. More than 3 million residents lost power, and major flooding continues. Rescue efforts are ongoing, with thousands of National Guard soldiers deployed. President Joe Biden urged people to stay sheltered and condemned misinformation about the emergency response, promising federal aid to affected regions.
Israeli fire injures UN peacekeepers in second day of strikes. Israeli forces wounded two UN soldiers for the second time on Friday as Israel continues its offensive against Hezbollah in southern Lebanon. The fighting is having a catastrophic effect on civilians. Lebanese authorities say 1.2 million people have been forced to flee their homes and more than 2,000 have been killed, mostly in the past two weeks.
China promises to borrow more to shore up economy and boost banks. China has announced a major increase in government debt issuance to support local governments, low-income citizens, the property market and the capital of state-owned banks. Finance Minister Lan Foan said on Saturday that the country will issue 2.3 trillion yuan (€297 billion or $325.5 billion) in special bonds over the next three months to stimulate the economy. The world’s second-largest economy is facing strong deflationary pressures due to a sharp downturn in the housing market and weak consumer confidence. The long-awaited stimulus came on top of a series of measures announced in recent weeks, including interest rate cuts and liquidity for banks.
Mozambique heads to the polls amid insecurity and drought-induced hunger. Mozambique’s upcoming election is expected to see the ruling Frelimo party maintain its 50-year hold on power, despite a challenge from independent candidate Venancio Mondlane. Nearly 17 million voters will choose the next president, 250 parliament members, and provincial assembly members. Frelimo’s candidate, Daniel Chapo, is set to succeed President Filipe Nyusi. Mondlane has gained significant support, especially from disillusioned youth, posing the biggest threat to Frelimo in years. The next leader will face major issues, including insecurity in the north, halted gas projects, and economic challenges worsened by a hidden debt scandal and El Nino-induced drought.
Pro-China Maldives leader Muizzu seeks to mend India ties. Maldives President Mohamed Muizzu visited India to rebuild relations strained by his earlier anti-India rhetoric during the election campaign. Despite his pro-China stance and call for the removal of Indian troops, Muizzu now sees India as a “valued partner.” During his visit, he met with Indian Prime Minister Narendra Modi to discuss trade, defense, and economic cooperation, securing a $400 million currency swap to support the Maldives’ economy. Both leaders inaugurated key infrastructure projects, and India promised further support. Muizzu’s visit highlights efforts to balance relations with both China and India, while maintaining economic ties with New Delhi.
European News
Georgia’s ruling party starts impeachment of pro-Western president before election. The Georgian government, led by the Russian-aligned party Georgian Dream, has started the impeachment procedures against the president of the country, Salome Zourabichvili. The main accusation is that the head of state has met with European leaders, including leaders of France and Germany, without the consent of the government. This is but a mere excuse for the current majority to oust the pro-western president just before the upcoming general election, which will take place on October 26. The results of this political move will be measured when such results will be announced, signaling an historical moment for the Caucasian nation, which will decide its future between the Russian sphere of influence and the European Union.
EU hits China with big taxes in electric car sales battle. The European Union has decided to take part in the trade war that has bene waging between the US and China over the sale of electric vehicles. Biden’s Administration has recently imposed as much as a 100% tariff on Chinese products of this kind, and the EU is now following. Sponsored in particular by France and Italy, and against the opinion of the German automotive industry, the tariffs will be between 10 and 45%, depending on the brand. The Chinese government has reacted coldly to such move by the EU, also enacting counter tariffs, this time on alcoholics products. In particular the French firms producing cognac and similar spirits will be badly damaged. This news, which might appear to a cold economy related issue, is only one of the many steps towards de-globalization that we are witnessing in our time.
AI wins big at the Nobels. Nobel Prizes week is always a quite interesting time of the year, as the new frontiers of human knowledge and capability can take the public spotlight instead of war and politics. This doesn’t mean that these prestigious awards don’t come with controversy and noise around them. This year it’s the physics award: Geoffrey Hinton and John Hopfield have been awarded for their work in the development of AI. Some observers have criticized this choice from the Swedish Royal Academy of Sciences as this is not properly a physic study. Another point of controversy has arisen form the statements released by Dr Hinton, who has widely criticized the ungoverned development of AI.
Every week, your TiL Monday Briefing 🗞: you better read it with a cup of coffee! ☕️
Head of the Monday Briefing column: Pietro Ferrari. Current writing staff: Vatsal Aggarwal, Cristiana Murè. Cartoons by Polina Mednikova. The Monday Briefing column was established in its current form in 2021 by Bojan Zeric.
Having lived both in Italy and the UK, I enjoy exploring how multiculturalism affects our personal identities. I use language, writing and journalism as tools to decipher the world around me. And, I will of course never turn down a lively convo about current news. With a degree in Economic and Social sciences, I’m now pursuing a master’s in Politics and Policy Analysis.
I have spent most of my life in India before recently moving to Milan, where I am pursuing an MSc in Finance at Bocconi. I am interested in politics, art and culture, cinema, and travelling. Through my writing, I aspire to document important voices and present opinions. In my free time, I try to keep up with my movies-to-watch list, sample as many restaurants as I can, and find cats to pet.
Always trying to extend my knowledge about the mysterious forces that shape our reality, sometimes with some weird model, sometimes by reading the news. In this chapter of my life I am pursuing a Bachelor's degree in Economic and Social Sciences at Bocconi.
