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Google’s digital ad network: An illegal monopoly

It seems Google $GOOGL ( ▼ 1.42% ) has learned that you can’t just click “clear history” to erase a monopoly.

A U.S. District Court has ruled that Google’s digital advertising network constitutes an illegal monopoly, marking the tech giant’s second antitrust defeat in under a year. Maybe they should Google “how to find a lawyer that wins a case?”

Judge Leonie Brinkema of Virginia concluded that Google has been leveraging its immense market power to suppress competition within online advertising — an industry integral to its $1.8 trillion empire. The ruling stems from a Department of Justice (DOJ) lawsuit targeting Google's digital advertising practices, following a similar monopoly ruling against the company’s search engine earlier this year. Central to this case is Google’s ad tech ecosystem, which connects publishers and advertisers, facilitating automated auctions for ad placements.

Google, however, disputes the ruling and plans to appeal. The company argues that the ad market has evolved to include competitors like Meta $META ( ▼ 0.17% ) , Amazon $AMZN ( ▼ 0.99% ) , and Microsoft $MSFT ( ▼ 1.03% ) , making the DOJ’s case outdated.

Powell’s ‘Termination cannot come fast enough’

President Donald Trump has rekindled his long-standing feud with Federal Reserve Chairman Jerome Powell, accusing him of "playing politics" by not cutting interest rates and asserting his ability to remove Powell from his position quickly. He also criticized Powell's recent speech on the economy as a "complete mess."

The Fed's current stance on interest rates has been a point of contention, with Powell maintaining rates amid concerns that tariffs imposed by the Trump administration would drive up inflation. Trump’s remarks emphasized his belief that the Fed "owes it to the American people" to lower interest rates.

The legal nuances of removing Powell are complex. While the Fed Chair is a presidential appointee confirmed by the Senate, the independence of the Federal Reserve's monetary policy is well-established. Powell himself has stated he has no plans to leave his position before his term ends in May 2026.

Treasury Secretary Scott Bessent has also cautioned against attempting to fire Powell, citing risks to financial market stability. Further, the International Monetary Fund’s Kristalina Georgieva emphasized the need for central banks to remain agile and credible, capabilities hindered by political meddling.

From @cheddar

Post of the day: @TheOnion

Mahomes and Kelce to open KC steakhouse

Kansas City foodies and NFL fans alike have something exciting to look forward to in the summer. No, it’s not the end of the basketball season. Superstars Travis Kelce and Patrick Mahomes are opening a two-story, 10,000-square-foot steakhouse!

The name “1587 Prime” is a clever nod to their jersey numbers: Kelce’s #87 and Mahomes’ #15, blending their football legacy into the identity of their new venture. Boasting innovative “multi-sensory dining aspects” and private dining rooms, the steakhouse will also feature a jaw-dropping meat display for guests to marvel at.

I must say, it’s been a while since I’ve said: “Come and look at my jaw-dropping meat display.” It’s so refreshing to hear the phrase back in circulation.

Speaking to People, Kelce shared his excitement, describing the venture as an “unbelievable opportunity” to give back to Kansas City. The opening aligns perfectly with the NFL preseason, ensuring both locals and fans traveling to Kansas City can experience the blend of food and sports culture. For residents, 1587 Prime is not just a steakhouse but a celebration of Kansas City pride. The list of other things Kansas City has to be proud of is as follows:

Disagree? Send me an email. I would like to be convinced.

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