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Google avoids break-up but must share data with rivals

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Google avoids break-up but must share data with rivals


Lily JamaliNorth America Technology Correspondent, San Francisco and

Rachel ClunBusiness reporter, BBC News

Reuters Google's multi-colored logo is perched atop the company's exhibit site at the CES trade show in Las Vegas in 2024Reuters

Google will not have to sell its Chrome web browser but must share information with competitors, a US federal judge has ordered.

The remedies decided by District Judge Amit Mehta have emerged after a years-long court battle over Google’s dominance in online search.

The case centred around Google’s position as the default search engine on a range of its own products such as Android and Chrome as well as others made by the likes of Apple.

The US Department of Justice had demanded that Google sell Chrome – Tuesday’s decision means the tech giant can keep it but it will be barred from having exclusive contracts and must share search data with rivals.

Google had proposed less drastic solutions, such as limiting its revenue-sharing agreements with firms like Apple to make its search engine the default on their devices and browsers.

On Tuesday, the company indicated that it viewed the ruling as a victory, and said the rise of artificial intelligence (AI) probably contributed to the outcome.

“Today’s decision recognizes how much the industry has changed through the advent of AI, which is giving people so many more ways to find information,” Google said in a statement after the ruling.

“This underlines what we’ve been saying since this case was filed in 2020: Competition is intense and people can easily choose the services they want,” the statement continued.

The tech giant had denied wrongdoing since charges were first filed against it in 2020, saying its market dominance is because its search engine is a superior product to others and consumers simply prefer it to others.

Last year, Judge Mehta ruled that Google had used unfair methods to establish a monopoly over the online search market, actively working to maintain a level of dominance to the extent it broke US law.

But in his decision, Judge Mehta said a complete sell-off of Chrome was “a poor fit for this case”.

Google will also not have to sell off its Android operating system, which powers most of the world’s smartphones.

The company had argued that off-loading parts of its operations, such as Android, would mean they would effectively stop working properly.

“Today’s remedy order agreed with the need to restore competition to the long-monopolized search market, and we are now weighing our options and thinking through whether the ordered relief goes far enough in serving that goal,” Assistant Attorney General Abigail Slater wrote on X after the ruling.

Shares in Alphabet, Google’s parent company, jumped by more than 8% after the ruling.

Smartphone-makers such as Apple, Samsung and Motorola will also benefit.

Before the ruling, Google paid such firms billions of dollars to exclusively pre-load or promote the tech company’s products.

It was revealed at trial that Google paid more than $26bn for such deals with Apple, Mozilla and others in 2021.

Now, Google will not be allowed to enter into any exclusive contracts for Google Search, Chrome, Google Assistant or the Gemini app.

It means phone manufacturers will be free to pre-load or promote other search engines, browsers or AI assistants alongside Google’s.

Gene Munster, managing partner at Deepwater Asset Management, said the ruling was “good news for big tech”.

“Apple also gets a nice win because the ruling forces Google to renegotiate the search deal annually,” he said on X.

Judge Mehta’s ruling “doesn’t seem to be as draconian as the market was expecting,” said Melissa Otto, head of research at S&P Global Visible Alpha.

With Google’s search operation expected to generate close to $200bn this year, and tens of billions of that expected to go to distribution partners it is a win-win for the major corporate players involved in the case, Ms Otto said.

The decision is not the end of the tech giant’s court battles.

Later this month, Google is scheduled to go to trial in a separate case brought by the justice department where a judge found the company holds illegal monopolies in online advertising technology.

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EV maker Lucid suspends production guidance amid incoming CEO’s business review

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EV maker Lucid suspends production guidance amid incoming CEO’s business review


The Lucid logo is shown at the Los Angeles Auto show on Nov. 20, 2025.

Mike Blake | Reuters

DETROIT — Lucid Group suspended its vehicle production guidance for the year as its incoming CEO evaluates the all-electric vehicle manufacturer’s business operations, including the potential for lower output of EVs.

The company on Tuesday also said it needs to lower its “elevated inventory” of vehicles, which for automakers has historically meant decreasing or idling vehicle production.

A company spokesman told CNBC that there is currently no plan to idle its sole U.S. plant in Arizona, but incoming CEO Silvio Napoli said he is continuing to evaluate Lucid’s business.

“An essential objective over time is to build a more cost-efficient company, one that progresses in funding its own growth. That means being rigorous in delivering our commitments,” Napoli said Tuesday on Lucid’s quarterly results call with investors. “In simple words, this means making clear choices on where to invest and, just as importantly, where not to.”

Napoli said he plans to review the company’s operations over the next several weeks before updating investors on the company’s guidance when Lucid reports its second-quarter results at an unspecified date.

The company’s prior production guidance was between 25,000 to 27,000 units in 2026. Lucid executives said plans for cost-cutting, autonomous vehicles with Uber and Nuro, and the company’s “path to profitability” outlined in an investor day in March remain intact.

Lucid has produced roughly 3,200 more vehicles than it has sold since 2024, according to its annual production and deliveries. That includes a difference of roughly 2,000 units last year and 2,400 vehicles during the first quarter of 2026.

The pulled guidance occurred as the company reported first-quarter results that were in line with preliminary results released by the company a month ago, but that still significantly missed Wall Street’s expectations.

“We ended the quarter with elevated inventory that we expect to convert to revenue and cash as deliveries normalize, while maintaining alignment between production and sales cadence. Our focus is on disciplined execution — driving structural cost improvements, managing capital efficiently, and improving operating leverage as we scale,” Lucid CFO Taoufiq Boussaid said in a statement.

Here’s how the company performed in the first quarter compared with average estimates compiled by LSEG:

  • Loss per share: $3.46 vs. a loss of $2.64 expected
  • Revenue: $282.5 million vs. $440.4 million expected

The company’s revenue increased roughly 20% year-over-year but was far lower than the 87.4% jump analysts were expecting, according to LSEG.

The all-electric vehicle maker said a seat supplier issue “significantly affected” deliveries of its crucial Lucid Gravity SUV during the quarter that resulted in a stop-sale of the vehicle due to safety concerns.

Boussaid said the seat issue caused a more than $200 million revenue impairment during the first quarter.

Lucid produced 5,500 vehicles and delivered 3,093 vehicles in the first quarter of 2026.

The automaker, which is heavily backed by Saudi Arabia’s Public Investment Fund, said it has sufficient liquidity through the second half of 2027. It ended the first quarter with approximately $4.7 billion, including a recent capital raise and delayed draw term loan provided by PIF.

Lucid on Tuesday said production of a new vehicle plant in Saudi Arabia continues despite the ongoing war in nearby Iran. The company said it has not experienced any significant interruptions to the facility other than some delays in shipping.

The company also said it is adjusting its production reporting to count vehicles once they complete the company’s “factory gating process,” which includes vehicles that may not be completely built and are sent to operations elsewhere for completion.

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Long-term borrowing costs in UK reach 28-year high amid rising inflation

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Long-term borrowing costs in UK reach 28-year high amid rising inflation



Britain’s long-term borrowing costs have surged to their highest level since 1998, driven by escalating inflation worries and political uncertainty ahead of this week’s local elections.

On Tuesday afternoon, the yield on 30-year UK government bonds, known as gilts, hit a 28-year peak, climbing 0.14 percentage points to 5.798%.

This increase in yield signifies a drop in bond prices, as the two move inversely. Consequently, the government faces higher expenses when seeking to borrow from financial markets.

The yield on 10-year gilts also rose, lifting by 0.15 percentage points to 5.122%, though this remains below recent highs reported last month.

In contrast, US 10-year treasury notes were flat on Tuesday, despite a steady increase over recent weeks.

Gilt yields have grown amid growing predictions that the conflict in Iran will drive higher inflation due to spiking energy costs, which is then likely to cause the Bank of England to increase interest rates.

City traders currently expect the central bank to vote for at least two interest rate hikes in the coming months, despite the Bank maintaining the current rate of 3.75% last week.

The rise in gilt yields means the Government will face higher debt interest costs, providing more strain on the Chancellor’s spending powers.

It comes amid a backdrop of significant pressure on Prime Minister Sir Keir Starmer in the run-up to the UK local elections.

The pound was broadly flat at 1.353 versus the dollar on Tuesday.



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Border politics – how similar jobs in the same firm deliver different tax bills

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Border politics – how similar jobs in the same firm deliver different tax bills



Workers in southern Scotland can find themselves paying more tax than colleagues who live south of the border.



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