Australian Competition and Consumer Commission Targets Google's Market Dominance
The Australian Competition and Consumer Commission (ACCC) is planning to take legal action against Google for dominating the internet search market, despite anticipated changes in the law and a recent U.S. judgment establishing Google's monopoly status. The ACCC acknowledges Google's control over 94% of the Australian search market, influencing the adtech sector. This case is significant for the ACCC and will be tested along with new merger powers starting January next year. The ACCC is also pursuing MasterCard for market power misuse. Other major cases include private actions against Apple and Google by Epic Games and a challenge to the ACCC's clearance of BGC's takeover of Midland Brick. Concurrently, the U.K. home improvement chain Homebase, acquired by Wesfarmers and later sold to Hilco Capital, continues to struggle, with several stores going into administration and thousands of jobs at risk.