Google is under scrutiny

Google is under scrutiny

Multiple companies are calling for improved data protection in the latest lawsuit against Google

The week seems to start on the wrong foot for tech giant Google. Major companies such as Apple Inc and GroupM are making a case alongside the US Justice Department against the company mentioned above.

The companies are looking to block Google from seeing various data that the government uses and classified as "highly confidential." According to the filing, after paying billions of dollars to be the default search engine on iPhones, Google was illegally using its power to be one-step-ahead of competition.

Alongside Apple and GroupM, AT&T, Microsoft, and Amazon also offered additional information on the matter. Moreover, Microsoft and Amazon filed a joint lawsuit to see if Google had access to sensitive documents that would have given it leverage when negotiating.

On the other side of the Atlantic, the UK's competition regulator – CMA, announced that it received a complaint about Google and its market study regarding online platforms and digital ads. Here’s a part of the CMA’s statement: "We take the matters raised in the complaint very seriously and will assess them carefully with a view to deciding whether to open a formal investigation under the Competition Act."

Following the news, Google's stock price lost 1.23%. Apple went up 0.31% in today's pre-market session.

Sources: reuters.com, finance.yahoo.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.