A.M. Edition for May 30. Lawyers for the Justice Department and Google prepare to make closing arguments today as a judge weighs how to improve competition in online search. Plus, top U.S. officials say trade negotiations with foreign capitals remain on course, despite a court ruling that President Trump’s sweeping global tariffs were illegal. And WSJ reporter Feliz Solomon explains the situation in Gaza as a new aid distribution system backed by Israel goes into effect. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
What is the significance of the landmark antitrust case against Google?
According to the Department of Homeland Security, each jurisdiction will receive formal notification of its noncompliance and the list will be updated regularly. In response to the list, more than 50 government leaders from sanctuary jurisdictions and the Public Rights Project said they would continue to oppose Trump's immigration crackdown.
Closing arguments are expected today in a landmark antitrust case centered around how to improve competition in online searches after US District Judge Ahmet Mete ruled last year that Google's massive search engine business was an illegal monopoly.
The Justice Department has proposed forcing Google to sell its Chrome browser and share data with competitors and barring it from being able to pay Apple to be the default search engine on Safari, a measure that could wipe out billions in profit from Apple's bottom line.
Googles Attorneys, meanwhile, plan to argue the government's proposals are overreaching and could cause it disproportionate harm. And should they do so, Journal columnist Dan Gallagher said recent threats to its core business posed by artificial intelligence could come in handy.
It might actually prove helpful to Google in this penalty phase of this antitrust trial, because the basic part of the government's case is that the search market will never... A ruling in the case is expected in August.
The Securities and Exchange Commission has dismissed its lawsuit against Binance and its billionaire founder Changpeng Zhao. It is the agency's latest move to wind down Biden-era enforcement actions against the crypto industry, which has been boosted by the favorable regulatory environment under President Trump.
Back in March, the Journal reported that Zhao, who pleaded guilty to violating anti-money laundering laws in 2023, had been seeking a pardon while representatives of the Trump family held talks to invest in the U.S. arm of Binance. Zhao and Binance denied the talks, though Zhao has confirmed seeking a pardon.
And finally, while experts have long said that the data points they use to measure the economy are robust, they also admit they don't always offer a complete picture. So, enter low-rise jeans, press on nails and the return of Lady Gaga.
Trends associated with previous downturns, in which Journal Markets reporter Hannah Aaron Lang says Gen Z are now watching to predict where the economy may be headed.
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