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A US federal judge has ruled that Google violated monopoly laws by leveraging its market dominance in online searches to suppress competition, a landmark decision that could reshape the operations of America’s largest tech companies.
Handling approximately 90 per cent of global internet searches, Google exploited its leading position to exclude rivals, the court found. This ruling marks the first significant antitrust victory for the US Justice Department in over two decades.
“Google is a monopolist, and it has acted as one to maintain its monopoly,” wrote Judge Amit P. Mehta in a comprehensive 276-page decision. This case is the initial ruling in a series of lawsuits targeting alleged technology monopolies.
In 2021, Google spent $26.3 billion to secure its search engine as the default on smartphones and web browsers, maintaining its dominant market share, the judge noted.
Mehta’s decision against Google, owned by Alphabet, sets the stage for a second trial to determine corrective measures, potentially including a ban on payments to smartphone manufacturers for setting Google as the default search engine.
The Justice Department accused Google of monopolistic practices and abusing its power for profit during the trial, which commenced in September.
Google CEO Sundar Pichai, in his testimony, acknowledged the critical importance of having Google set as the default search engine on various devices to retain user loyalty, stating, “We definitely see value.”
Google’s legal team refuted claims of anticompetitive behaviour, arguing that the default status had limited impact and that dissatisfied users could easily switch.
Initiated by the Trump administration, this case is one of five targeting the market dominance of tech giants. A second antitrust lawsuit was also filed against Facebook’s parent company Meta during Trump’s tenure. Under President Biden, additional cases have been brought against Google, Apple, and Amazon.
US Attorney General Merrick Garland hailed the ruling, stating: “This victory against Google is a historic win for the American people. No company — no matter how large or influential — is above the law. The Justice Department will continue to vigorously enforce our antitrust laws.”
Google intends to appeal the ruling. Kent Walker, Alphabet’s president of global affairs, commented: “This decision recognises that Google offers the best search engine, but concludes that we shouldn’t be allowed to make it easily available. We appreciate the Court’s finding that Google is ‘the industry’s highest quality search engine, which has earned Google the trust of hundreds of millions of daily users’… Given this, and that people are increasingly looking for information in more and more ways, we plan to appeal. As this process continues, we will remain focused on making products that people find helpful and easy to use.”
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Google found in breach of monopoly laws over online searches

PwC has seen a significant loss of major clients in China following pressure from Beijing, urging state-owned companies to sever ties due to the auditor’s involvement with the troubled property developer Evergrande.
Over the past few months, the Chinese Ministry of Finance has issued “window guidance” – informal, verbal instructions – to some of the largest state-owned financial institutions, advising them to end their relationships with PwC, Reuters reports.
Recent corporate filings reveal that prominent clients such as Bank of China, China Life Insurance, PICC, China Taiping Insurance, and China Cinda Asset Management have all parted ways with PwC. This trend has led to PwC losing over 30 companies listed on China’s stock market in 2023 alone.
These departures have resulted in significant financial losses for PwC, amounting to hundreds of millions of dollars in lost fees. For instance, Bank of China paid PwC $28 million last year for auditing services. In response, PwC China has initiated cost-cutting measures, including reducing headcount and partner pay.
The Ministry of Finance, which holds significant shares in many of China’s largest financial institutions and regulates auditors, is believed to be driving these changes. However, PwC partners in China remain uncertain whether these client losses are regulator-driven or independent decisions by the companies. PwC China has refrained from commenting on the situation.
PwC China, the third-largest network firm within the group with around 20,000 employees, has been under scrutiny for its 14-year tenure as Evergrande’s auditor. Evergrande, once China’s largest property developer, defaulted on over $300 billion in debt in 2021, causing widespread market panic and a series of defaults across the property sector.
Chinese regulators declared this year that Evergrande had committed fraud, overstating its sales by tens of billions of dollars between 2019 and 2020, and ordered the company to be liquidated.
In 2022, the Ministry of Finance advised Chinese firms to be “extremely cautious” about hiring auditors with recent fines or penalties. This directive is part of a broader strategy by Beijing to reduce reliance on the Big Four global accounting firms and promote local auditors from China or Hong Kong, aiming to enhance data security and diminish western influence.
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Over 30 Chinese firms cut ties with PwC amid Beijing’s pressure over Evergrande scandal

A government scheme designed to promote innovation and boost the economy has lost over £4 billion to fraud and error since 2020, due to widespread abuse.
The research and development (R&D) tax credits scheme, intended to drive world-leading innovation, has been plagued by dubious claims, turning into what experts describe as a “wild west”. Claims included a window-cleaning firm’s “groundbreaking” method to hold a water bucket at height, a pub adding vegan and gluten-free options to its menu, and businesses redesigning their corporate websites.
According to HM Revenue and Customs’ (HMRC) annual report, the estimated cost of fraud and error in the scheme totalled more than £4.1 billion from 2020-21 to 2023-24. HMRC reported that the reliefs expenditure in 2023-24 was £7.7 billion.
This revelation comes as Chancellor Rachel Reeves pledges to crack down on tax fraud and non-compliance, with Labour aiming to recover £5 billion in tax revenues by the end of the current parliament. Tax officials labelled the fraud and error in R&D tax reliefs as “clearly unacceptable”, promising public action.
Colin Hailey, a technology tax expert, testified to Parliament about abuses in the scheme more than six years ago. He criticised the lack of proper vetting by HMRC and noted the role of agents claiming hefty commissions for filing these dubious claims. “It was the wild west. These advisers were cold-calling firms and saying, ‘you don’t think you’re doing R&D, but we can help you’,” Hailey said.
Companies from various sectors, including care homes, pubs, fitness centres, and dental clinics, were inundated with calls from agents urging them to apply for the tax credits. A tax consultancy claimed to have saved a hotel and pub in Chester £28,000 for “innovative menus, catering for vegan and gluten-free diets”.
HMRC did not confirm whether such claims were legitimate. However, a House of Lords finance bill subcommittee heard in November 2022 that some advisers boasted a 99% acceptance rate of claims by HMRC, referring to the scheme as “free money”.
Introduced in 2000 to address declining R&D spending in Britain, the scheme reduces a firm’s corporation tax bill or provides a direct payment if the claim represents a significant advance overcoming scientific or technological uncertainty.
HMRC’s annual accounts reveal that error and fraud in the scheme cost £1.127 billion in 2020-21, £1.337 billion in 2021-22, £1.051 billion in 2022-23, and £601 million in 2023-24. An analysis of claims for small and medium-sized firms in 2021-22 estimated that about one in four contained errors or fraud, marking it as one of the highest rates of non-compliance among government spending programmes.
In response, HMRC is now rigorously checking claims and increasing compliance inquiries to recoup some of the lost billions.
An HMRC spokesperson stated: “We generated a record £843.4bn in tax revenues last year, up 3.6% on the previous 12 months. With R&D claims, public money is at stake, and taxpayers rightly expect us to scrutinise them. We do that thoroughly and fairly, and the overwhelming majority of valid claims are paid on time. But the levels of non-compliance within these schemes are clearly unacceptable, and the public rightly expect us to take action. This includes better help, guidance, and processes, as well as decisive action against the minority who deliberately set out to abuse the schemes.”
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‘Free money’: £4bn lost to fraud and error on flagship HMRC ‘innovation’ scheme

GraphEnergyTech, a Cambridge spin-out pioneering alternative electrodes for solar panels, has secured £1 million in funding from an investment round led by Aramco Ventures, the venture capital arm of Saudi Aramco.
The company has developed a novel conductive graphene ink for solar panel electrodes, offering a more sustainable and cost-effective alternative to the silver traditionally used. This breakthrough technology is particularly significant as silver, while highly conductive, faces supply constraints amidst growing solar demand.
GraphEnergyTech’s conductive graphene ink, derived from a process adapted from the pharmaceutical industry, effectively replaces silver in solar cells. Given that silver accounts for almost 14% of global consumption for solar demand—a figure projected to rise—the industry is concerned about potential shortages. The University of New South Wales predicts that the solar sector could deplete 85-98% of the world’s silver reserves by 2050.
Dr Thomas Baumeler, CEO of GraphEnergyTech and a PhD graduate in solar energy, emphasised the company’s focus on solar panel manufacturers but highlighted potential applications in other sectors. “We are initially targeting solar panel manufacturers due to our expertise, but we are also exploring applications in batteries with a Korean partner,” Baumeler said.
GraphEnergyTech has garnered significant support from influential figures in the scientific community, including Michael Grätzel, a leading innovator in solar panel technology and Baumeler’s PhD supervisor. Grätzel’s involvement has opened doors for the company within the industry.
Uniquely, GraphEnergyTech is a dual spin-out from both the University of Cambridge, through the Cambridge Graphene Centre, and the Swiss Federal Institute of Technology Lausanne.
Frontier IP, an AIM-listed co-founder of GraphEnergyTech, which holds a 23.97% equity stake in the business, is expected to confirm the investment news on Monday.
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£1m boost for Cambridge spin-out behind solar panel innovation

Evolve Business Group, a Wigan-based specialist in managed network and IT solutions, has received a multi-million-pound investment from BGF, a leading growth capital investor in the UK and Ireland.
Founded in 2005, Evolve has built a solid reputation for helping businesses reduce costs and simplify service management across various sectors, including retail, hospitality, food-to-go (FTG), and petroleum franchises.
Over the past four years, Evolve has seen significant growth, with turnover rising from £6.8 million to a projected £20+ million this year. The company aims to double this figure within the next three years. The new funding from BGF will support Evolve’s ambitious plans for UK and international expansion, focusing particularly on the United States, where it currently operates over 1,000 sites in the fuel forecourt industry and plans to expand into the Quick Service Restaurant (QSR) sector.
The investment will also enable Evolve to enhance its infrastructure by establishing a new warehouse in Wigan, pursue further acquisitions to accelerate growth, and increase its national and international headcount by 40% over the next three years. Since 2020, Evolve has expanded its workforce from 23 to 117 employees.
Alan Stephenson-Brown, CEO of Evolve, commented: “Today’s announcement marks a pivotal moment in Evolve’s journey. The investment from BGF is not just a testament to our robust growth and the confidence of our investors; it’s also a strategic step forward in advancing our mission to innovate in our industry and take the pain out of connectivity for our customers. We are excited about the opportunities this investment will unlock and remain committed to delivering unparalleled value to our stakeholders.”
He added: “BGF has the right level of experience we need as an ambitious and fast-growth business, with the added benefits of a dedicated value creation team and strong network. Its strong reputation for supporting dynamic and exciting businesses on a wide range of growth strategies makes them an ideal partner as we enter the next phase of our growth journey.”
The deal was led by Pinesh Mehta and Josh Bean from BGF’s Manchester team. As part of the investment, Adrian Thirkill will join the board as non-executive chair. Thirkill, the former CEO of GCI, one of the UK’s largest privately-owned ICT service providers, brings extensive sector and strategic experience to the board.
BGF investor Pinesh Mehta added: “Evolve has a strong track record of achieving top-line growth through a loyal and longstanding customer base that spans 10 countries, with over 6,000 sites now managed by the business globally. That strength and depth, in both proposition and presence, is driven by a highly experienced management team who have the experience to scale a business in a robust marketplace that has significant potential. Business and support services is a sector that BGF understands inside and out, having invested more than £350 million, supporting over 50 businesses. Our credentials, combined with Evolve’s ambition and expertise, make this an extremely exciting deal, and we’re delighted to be joining the team as they embark on this exciting chapter.”
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Evolve Business Group secures multi-million-pound BGF investment to drive ambitious growth

Jeremy Hunt, the recently unseated chancellor, has dismissed accusations from Rachel Reeves regarding a supposed £22 billion fiscal gap as unfounded.
Despite stepping down from his position at No 11 Downing Street just a month ago, Hunt appears relieved and in good spirits as he addresses these claims.
In an interview with the Times, whilst relaxing at a café in Godalming, Surrey, Hunt seemed to relish his reprieve from the pressures of his former role. Yet, Reeves, his successor, has sought to undermine his legacy by accusing him of fiscal mismanagement. She asserts that Hunt’s policies have forced Labour into making unpopular decisions, including the cancellation of infrastructure projects and impending tax increases.
Hunt counters these allegations vigorously, labelling them as fictitious and a political manoeuvre. He highlights his historically cordial relationship with Reeves and expresses dismay at her tactics. He believes that her accusations are a significant misstep that the Conservative Party can exploit to challenge Labour’s justification for tax hikes in the upcoming budget.
To bolster his defence, Hunt has contacted Simon Case, the cabinet secretary, seeking clarity on the financial estimates approved just weeks before Reeves’s claims. He argues that if there had been such a substantial fiscal deficit, it would have been impossible for Treasury officials to overlook it or conceal it.
Addressing the notion of the alleged fiscal gap, Hunt points out that while pressures on public finances are perpetual, they are manageable through strategic planning and productivity improvements. He criticises Reeves for opting to implement £9.4 billion in public sector pay rises without addressing productivity inefficiencies, which he deems unsustainable.
Hunt also rebuffs claims regarding overspending on the asylum system and the use of the reserve fund. He criticises Labour’s decision to cancel the Rwanda scheme, arguing it has led to increased costs rather than savings.
Looking ahead, Hunt is preparing a counterattack while serving as shadow chancellor temporarily. He has urged the Conservative Party to address key issues such as immigration and the housing crisis to regain voter trust, particularly among younger demographics.
Reflecting on the Conservative Party’s recent electoral defeat, Hunt emphasises the need for strategic patience and learning from Labour’s approach under Keir Starmer. He remains confident in his own legacy, pointing to the current favourable economic indicators as evidence of his effective stewardship.
As the Conservative leadership contest unfolds, Hunt plans to return to the back benches, leaving his endorsement open but firmly advocating for policy-driven solutions to the party’s challenges.
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Hunt refutes Labour’s claims of fiscal ‘black hole’

Board Intelligence, a leading AI-driven firm enhancing boardroom performance, has sold a majority stake to Californian private equity house K1, valuing the London-based business at up to $300 million (£230 million).
This significant investment will see multimillion-pound payouts to founders Jennifer Sundberg, 44, and Pippa Begg, 40. The founders plan to leverage K1’s investment to drive the international expansion of the business they established in 2009.
Board Intelligence boasts a client base of 3,000, including prominent names like John Lewis, National Grid, and ITV. The company operates three primary divisions: an advisory consultancy service and two IT arms. One IT division manages a secure portal for distributing board papers, while the other offers an AI tool named Lucia, which assists boards in evaluating the balance of the reports they receive. “If you’re writing a report and it’s 100 per cent good news, that’s probably not a balanced report,” explained Begg.
Before K1’s investment, Sundberg, Begg, and their families owned 40% of the company, with 12% held by 120 employees, 8% by angel investors such as boardroom veteran Sir John Egan, and 41% by private equity firm Susquehanna, which is now exiting. Most existing shareholders are maintaining their stakes, except for one angel investor, the estate of the late Sir Mike Wilson, founder of St James’s Place.
While specific transaction terms were not disclosed, Board Intelligence has seen substantial growth, doubling its valuation from $100 million three years ago. Despite a loss of £859,000 in 2022, as reported in its latest Companies House filings, the company has since returned to profitability.
Sir John Egan, a former CEO of Jaguar and BAA, supported the company for its potential to streamline boardroom documentation. “I had just started work as a non-executive chairman and was appalled at the huge board packs — often 200 to 300 pages long — and also that, often, little thought had gone into what the board meeting itself was supposed to achieve,” he said.
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AI firm secures $300m valuation in major US private equity deal

BBC Director General Tim Davie has faced tough questions about his handling of the Huw Edwards investigation.
Among the points raised by Culture Secretary Lisa Nandy were why Mr Edwards was not dismissed upon the BBC learning of his arrest and why he received a pay rise during this period.
A recent tribunal ruling has highlighted the risks of dismissing employees suspected of criminal activity.
Care assistant Jacqueline Difolco brought an unfair dismissal claim against her employer, Care UK, after being charged with murder in October 2022. The Employment Tribunal upheld her claim, stating that the company failed to properly investigate whether the charges could reasonably cause reputational damage to the organisation.
Rob McKellar, Legal Services Director at Peninsula, remarked, “The Difolco case clearly demonstrates how the law and the public interest are not always aligned. This may shed some light on the BBC’s decision to act cautiously in not dismissing Huw Edwards when they became aware of the police investigation into child pornography offences.
“Whereas in Difolco, the employee had actually been charged, albeit not convicted, in Edwards’ case the matter was still at the investigatory stage until last week.
“Had the BBC decided to dismiss Huw Edwards when it was notified of his arrest in November, it may have found itself using taxpayers’ money to defend and potentially pay out on an expensive lawsuit.
“That does not mean, however, that employers cannot dismiss for reasons of reputational damage or public interest. The law states there are five fair reasons for dismissal, and misconduct is only one of them.
“Employers can also dismiss on the grounds of ‘Some Other Substantial Reason’ (SOSR). The legal test for deciding whether an SOSR dismissal is fair is whether the employer followed a fair process and acted reasonably in reaching the conclusion it did.
“When it comes to the topic of pay, the contract of employment is key. If a contract states that when an employee is suspended it is on full pay, then they are entitled to be paid in line with that contract. Pay rises that would fall to be given during a suspension would also need to be honoured, unless there was a contractual clause stating otherwise.
“If there is any kind of wage recovery agreement that sets out pay can be deducted or claimed back, then there may be an option to do so. The employer would need to ask the employee to return the money. If they fail to do so, and there is an agreement in place that states they would need to, a claim could be pursued through the civil courts.
“Lisa Nandy has called for Huw Edwards to return his pay; it remains to be seen what course of action could be taken here.”
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Huw Edwards: new tribunal ruling sheds light on HR and employment law risks

Rhea Karo is a young British entrepreneur and the driving force behind Social Amour, a leading London-based social media marketing agency.
Founded just four years ago, Social Amour has quickly become a powerhouse in the industry, boasting an impressive client roster that includes Hollywood actress Salma Hayek and actor Luke Evans, along with his recently launched brand BDXY. The agency also serves a multitude of bars, restaurants, and galleries across London.
Operating from South West London with a small yet dynamic team, Rhea has built Social Amour into a comprehensive, in-house social media marketing service that covers everything from growth strategies and partnerships to video production and photography. The agency is on a trajectory to grow by an astounding 80% in the next financial year, reflecting its rising prominence and success.
What was the inspiration behind Social Amour?
Social Amour was born out of a combination of love and frustration—love for marketing and social media, and frustration over the fact that many businesses need a full marketing team to meet their objectives but often lack the budget. A typical marketing team includes a manager, coordinator, assistant, videographer, photographer, editor, and community manager. Many businesses, especially smaller ones, cannot afford to fulfill each of these roles. That’s where Social Amour comes in; we offer a one-stop solution.
Our services go beyond social media management or consultancy. We have built an in-house team with expertise across various social media disciplines, including photography, videography, and content creation. This allows us to manage all aspects of our clients’ social media needs under one roof, providing a comprehensive 360-degree journey for them.
I have never aspired to become a large agency; I prefer to remain boutique. This approach allows us to retain a personal touch and build authentic connections with our clients, becoming a genuine extension of their team.
Who do you admire?
There are many people I admire, but one standout is Emma Grede. Although she may not be as widely recognized as the Kardashians, she is the powerhouse behind some of their most successful ventures. Emma is the founding partner and chief product officer of Kim Kardashian’s shapewear brand Skims and the co-founder and CEO of Khloe Kardashian’s size-inclusive brand Good American.
Emma embodies the perfect blend of entrepreneurial savvy and strategic vision. She grew up in East London, moved to LA, and successfully pitched and collaborated with the Kardashian/Jenner clan. Her ability to drive business growth, innovate in the fashion industry, and maintain a strong commitment to social responsibility sets her apart as an inspiring role model for aspiring entrepreneurs. Emma’s behind-the-scenes influence and dedication to excellence make her an unsung hero in the business world.
Looking back, is there anything you would have done differently?
I generally don’t believe in regrets; I view every mistake as a valuable learning opportunity. However, if I had to pinpoint one area, it would be the hiring process. Your team is one of your most valuable assets, and hiring the right people who align with your vision and values is crucial for success.
I’ve learned the importance of not being complacent when hiring. Hiring the wrong person can be costly and time-consuming. It’s essential to hire and fire quickly but strategically to ensure you have the right people in place.
What defines your way of doing business?
Empathy, consideration, and adaptability are the cornerstones of my approach. We’re all human, and in a world not yet run by robots, empathy is essential for genuine connection. Consideration naturally follows, allowing us to understand and respect our clients’ needs and goals. Adaptability is crucial in our industry, where opinions on creative content and campaign strategies can vary widely.
My goal is to tailor our work to meet our clients’ needs, even if it means adjusting our personal preferences. This ensures the final product resonates with them and achieves their objectives.
What advice would you give to someone starting out?
Take action. Whether it’s posting that piece of content, registering your business, pitching to potential clients, or sending important emails—don’t hesitate. Waiting for everything to be perfect is futile because perfection is an elusive goal that rarely, if ever, arrives. Instead, embrace the journey of learning and development. Be proactive, learn from your experiences, and allow yourself to evolve along the way.
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Getting to Know You: Rhea Karo, CEO of Social Amour