The Department of Justice filed its long-awaited antitrust case on Tuesday against Google for what it alleges are unfair advantages in search and online advertising. At first glance, this has little to do with Wall Street, beyond those who have made investments made in the tech space. However, it's worth considering how this might impact the overall push by Big Tech to get deeper into banking. Whether it's helping to facilitate payments or operating marketplaces, the past few years have seen tech companies increasingly add features and tools that make them look more like a financial companies. But, with this latest case, it seems unlikely that anyone in Big Tech will make a considerable push into banking in the near term, lest they also catch the eye of regulators. If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals. Tune in on Tuesday, October 27 at 12:00 pm ET for a virtual event sponsored by Salesforce, looking at how Professional Services firms are navigating and driving growth during the COVID-19 era. Register here. Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco. Click here to read the entire story. |
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