Ex-Google exec said goal was to ‘crush’ competition, trial evidence shows

By Jody Godoy ALEXANDRIA, Virginia (Reuters) – A Google executive told colleagues the goal for the company’s then-nascent online advertising business in 2009 was to “crush” rival advertising networks, according to evidence prosecutors presented at the tech titan’s antitrust trial on Wednesday. The statements underscored the U.S. Department of Justice’s claim that Google has sought to monopolize markets for publisher ad servers and advertiser ad networks, and tried to dominate the market for ad exchanges … Read more…

Biden administration grants Egypt $1.3 billion in military aid despite rights requirements

By Simon Lewis WASHINGTON (Reuters) – The Biden administration on Wednesday notified the U.S. Congress that it will provide Egypt with $1.3 billion in military aid, a State Department spokesperson said, the first time since 2020 Egypt will receive the total amount of U.S. funding despite human rights conditions. The announcement comes as Washington has relied heavily on Cairo – a longstanding U.S. ally – to mediate so far unsuccessful talks between Israel and Hamas … Read more…

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Boeing faces possible strike on Friday amid discontent by some workers over tentative labor pact

By Allison Lampert (Reuters) – Boeing faces a possible strike as early as Friday if most of the U.S. planemaker’s factory workers in the Pacific Northwest vote on Thursday to back a work stoppage and reject a tentative deal that has enraged many of them. Roughly 30,000 workers who produce Boeing’s 737 MAX, 767 and 777 jets in Portland, Oregon, and the Seattle area will vote on their first full contract in 16 years. A … Read more…

Clashes outside Argentina Congress after pension hike blocked

BUENOS AIRES (Reuters) – Argentine protesters clashed with police outside the country’s Congress on Wednesday, after lower house lawmakers voted to block a planned hike to pensions that had been opposed by right-wing libertarian President Javier Milei. The chamber of deputies voted 153 in favor of the pension hike with 87 against it, falling short of the two-thirds needed to approve the bill after Milei had previously vetoed it saying that it put the country’s … Read more…

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Exxon CEO Woods’ message to future shareholder activists: follow the rules

By Ross Kerber and Svea Herbst-Bayliss NEW YORK (Reuters) – Exxon CEO Darren Woods on Tuesday had warning words for activist shareholders thinking to emulate those who filed a climate-related shareholder proposal at the largest U.S. oil company. Exxon sued the investors early this year and Woods indicated the company was ready to repeat the exercise against others he said might “abuse” the proxy proposal process. “We hope we don’t have to use that action … Read more…

GameStop reports decline in revenue as online purchases hit videogame retailer

(Reuters) – Videogame retailer GameStop reported a fall in second-quarter revenue on Tuesday, as consumers moved away from traditional brick-and-mortar stores to online purchasing. The company has been struggling with declining sales in its primary business of selling new and used video game discs due to a shift towards digital downloads and game streaming. Several customers also buying games and collectibles through e-commerce. GameStop CEO Ryan Cohen told investors in June the company intends to … Read more…

Goldman Sachs nearing a deal to transfer GM credit card business to Barclays, source says

NEW YORK (Reuters) – Goldman Sachs is close to finalizing a deal to transfer its General Motors credit card business to Barclays, a source familiar with the matter said on Tuesday. The exit from the business partnership with GM, with about $2 billion of outstanding balances, is part of Goldman Sachs’ move to narrow its focus on consumer services. The companies are still involved in final negotiations, said the source, who asked not to be … Read more…

DirecTV rejects Disney offer to restore ABC for presidential debate

(Reuters) – DirecTV has rejected Walt Disney Co’s offer to restore the ABC network to subscribers to watch Tuesday’s U.S. presidential debate, which ABC News is hosting. A spokesman for DirecTV told Reuters restoring the ABC network for three hours would be confusing to subscribers, who are able to watch the debate via other networks. DirecTV subscribers lost access to Disney’s networks on Sept. 1, after the two sides failed to reach a new distribution … Read more…

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Wall Street surges, follows European stocks higher on rate cut hopes

By Stephen Culp NEW YORK (Reuters) -U.S. stocks moved higher on Monday, following their European counterparts, as markets looked ahead to key data and actions from central banks. The S&P 500 appeared set to snap a four-session losing streak, bouncing back along with the Dow from its biggest weekly percentage loss since March 2022. The tech-laden Nasdaq staged a comeback after suffering its largest Friday-to-Friday decline since January 2022 last week. “Two things are happening,” … Read more…

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Google aimed to control web ad tech, US prosecutor says as trial begins

By Jody Godoy ALEXANDRIA, Virginia (Reuters) -Alphabet’s Google sought to dominate all sides of online advertising technology by controlling competitors and customers, a Justice Department prosecutor said as trial began in the tech titan’s latest antitrust showdown in Alexandria, Virginia on Monday. Prosecutors say Google has largely dominated the technological infrastructure that funds the flow of news and information on websites through more than 150,000 online ad sales every second. Google used classic monopoly-building tactics … Read more…

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