Business
U.S. Justice Department Weighs Google Breakup Over Monopoly
The U.S. Justice Department has informed a federal judge that it may recommend Google divest parts of its operations to address its monopolization of the online search market. This could lead to a historic antitrust breakup of the tech giant, according to Bloomberg.
In a court filing, antitrust officials indicated that Judge Amit Mehta might require Google’s parent company, Alphabet Inc., to share data used for search results and artificial intelligence development. The Justice Department proposed remedies to prevent Google from favoring its products—like Chrome, Play, and Android—over competitors. This marks the first significant government attempt to dismantle a company for illegal monopolization since the failed breakup of Microsoft two decades ago.
Additionally, the document outlines options for the judge as the case moves into the remedy phase. It highlights how Google gained advantages from agreements that made its search engine the default on many devices. The agency may also seek to give websites more control over opting out of Google’s AI products and limit its dominance in search advertising. A detailed proposal is expected next month. Google has not yet responded to requests for comment.
Ecobank Group is reportedly set to raise up to $250 million through an Additional Tier 1 (AT1) capital offering in order to strengthen the bank’s capital base.
This was revealed during the company’s annual general meeting held in Togo on the 29th of May, 2025. According to the meeting, the bank stated that the conversion price for the shares will be based on the higher of the prevailing exchange rate and the floor price of $0.02 per ordinary share.
The speaker stated “As we cast our eyes into the future and reimagine all possibilities—rising competition from banks, fintechs, and non-bank financial institutions, as well as factors such as geopolitics, regulations, and capital markets—we cannot afford complacency.”
The Central Bank of Nigeria (CBN) recently assured stakeholders about the state of the banking sector in Nigeria, stating that the banking sector can still be trusted and is secure.
The assurance was shared in a statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN. In the statement, it was emphasized that stakeholders should disregard any negative news concerning the banking sector, as such reports are misleading.
The CBN also highlighted the security of the deposits entrusted to it, stating, “There is no reason for the public to worry about the security of their deposits.” The extent of the measures and security in place was also emphasized by the director in the statement.
Nigerian Businessman Dr. Cosmos Maduka analyzes popular Billionaire, Aliko Dangote and describes him as the biggest debtor in Nigeria.
The businessman highlighted the fact that people who seem to have the most money are often the largest debtors.
“The number one debtor in Nigeria is Aliko Dangote. He’s the wealthiest man in Africa. The number one debtor in the world is the United States of America and you call them the richest in the world.”
“As you admire all of those things, it’s all credit. It’s all about credit. So you should leverage on loan, but you have to have a good structure that will support that loan.”
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