stock market announcements

Google Escapes Forced Sale of Chrome but Must Share Data to Promote Competition

NordenBladetU.S. District Judge Amit Mehta of the District of Columbia has ruled that tech giant Google (GOOG, GOOGL) will not be required to sell its Chrome web browser in an antitrust case related to anti-competitive conduct. However, the company is obliged to share data that has helped it maintain a dominant position in the search engine market.

The decision, considered a landmark in antitrust law, led to a nearly 6% rise in Google’s stock during premarket trading. Meanwhile, Apple’s shares rose by almost 3%, as Google is allowed to continue its estimated $20 billion annual payments to Apple for keeping Google Search as the default engine in the Safari browser and Siri assistant.

Content of the Ruling

Judge Mehta found that the U.S. Department of Justice’s request to force Google to divest its search business or to terminate major contracts that have strongly contributed to its market dominance was not justified. According to the judge, it was not proven that eliminating anti-competitive practices would be ineffective without the immediate sale of Chrome.

The court emphasized the need to distinguish between maintaining a monopoly through unlawful behavior and achieving market leadership through offering a superior product. “After two full trials, this court cannot conclude that Google’s market dominance is sufficiently attributable to illegal conduct to justify such far-reaching structural relief as the forced sale of Chrome,” the judge stated.

The court also rejected the Department of Justice’s request concerning a potential future divestiture of the Android operating system. Judge Mehta noted that the government did not present sufficient evidence to support this remedy.

New Restrictions for Google

Although Google retains the right to keep Chrome and Android and to continue making payments to distribution partners, the company must implement several changes to its business practices:

  • It is prohibited from entering into exclusive agreements involving the distribution of Google Search, Chrome, Google Assistant, or Gemini;

  • Google may not condition the licensing of the Play Store or other apps on the pre-installation of additional Google services;

  • Revenue-sharing payments may not be tied to the presence of other Google apps on a device.

Judge Mehta also referred to the rise of generative AI in his decision, noting that its development could strengthen competition in the search market—thus, there is currently no justification for a disruptive intervention in the system.


About Google

Google is a technology company based in the United States, best known for its internet search engine. It was founded in 1998 by Larry Page and Sergey Brin while they were PhD students at Stanford University. The original idea was to create a system that ranked web pages based on relevance rather than just keyword frequency. The initial project was called “Backrub” but was later renamed “Google,” derived from the word “googol,” meaning the number 10 to the power of 100. Google grew rapidly and has become one of the world’s largest technology companies, now operating under the umbrella of Alphabet Inc. In addition to its search engine, Google offers a wide range of services, including YouTube, the Android operating system, Google Maps, and Gmail.

Macy’s Raises Annual Outlook After Stronger-Than-Expected Quarter

NordenBladet – U.S. department store chain Macy’s reported second-quarter results that beat Wall Street expectations, sending its shares up more than 17% in premarket trading.

Revenue slipped 2.5% year over year to $4.81 billion but still exceeded forecasts, while adjusted earnings per share came in at $0.41 — more than double analysts’ estimates. Comparable sales rose 1.9%, marking the strongest growth in three years.

Performance was boosted by upgraded “Reimagine 125” stores as well as Macy’s luxury banners Bloomingdale’s and Bluemercury.

On the back of these results, Macy’s raised its full-year guidance, now projecting revenue of $21.15–$21.45 billion and adjusted EPS of $1.70–$2.05.

CEO Tony Spring said the results validate Macy’s multi-brand, multi-channel strategy and its ongoing turnaround efforts.

Estonia: Südamekodud Expands into Latvia and Lithuania in Partnership with EfTEN Capital

Südamekodud, the largest provider of elderly care services in Estonia, is expanding its operations into Latvia and Lithuania

NordenBladet – Südamekodud, the largest provider of elderly care services in Estonia, is expanding its operations into Latvia and Lithuania. The expansion is being carried out in collaboration with EfTEN Capital, a real estate fund manager with whom Südamekodud has already developed a successful partnership in Estonia.

The goal is to invest in the elderly care sector in both Latvia and Lithuania, including the construction of new care homes and the renovation of existing facilities. The initiative also includes the development of service providers to improve the overall quality of care.

Currently, Südamekodud operates 12 care homes across Estonia, offering over 1,200 care places and employing more than 500 people. Additionally, approximately 500 new care places are planned in Estonia. Construction is also underway in Tallinn’s Hiiu district, where the new Nõmme Südamekodu will be built to accommodate 170 elderly residents.

EfTEN Real Estate Fund AS is the first real estate fund in the Baltics to have invested in care home infrastructure for over five years. Today, the fund owns four care home properties in Estonia in partnership with Südamekodud.

Both Südamekodud and EfTEN Capital see strategic potential in their joint expansion — to develop modern and secure care facilities that meet the growing needs of aging populations and support local economies through job creation and infrastructure investment.

Featured image: Südamekodud

Sweden: Distribution of Neobo to SBB’s shareholders

NordenBladet – On 21 December 2022, it was resolved at the Extraordinary General Meeting of Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) that all SBB’s shares in the subsidiary Amasten Fastighets AB (publ) (under name change to Neobo Fastigheter AB (publ)) (the “Company”) are distributed to Class A and Class B shareholders of SBB.