Google has been fined $463 million for breaching the European Union’s strict privacy rules because it mishandled users’ location data, the bloc’s data privacy watchdog said Monday.
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The Money Pages, continued
Ruled an illegal monopoly, Google keeps every piece; the going rate is $463 million.the receipts: 3 stories
Let's do the arithmetic first, because that's the job. In July of 2018, the European Commission fined Google €4.34 billion for using Android's dominant position to box out rival search products. Google said it would appeal, and it did. On Monday, the EU's data privacy watchdog added another line to the same ledger: $463 million, for mishandling the location data of the people who use Google's services, which is most people. That's eight years and two fines apart, and the second one runs about a tenth the size of the first, which in this business passes for restraint.
At the money desk we don't read a fine as a punishment so much as a receipt — proof the meter was running, nothing more. The interesting number sits nineteen days earlier and an ocean away. On September 2, U.S. District Judge Leonie Brinkema, who had already found last year that Google holds an illegal monopoly over the ad-tech industry, ruled that the company does not have to sell off any part of it. No divestiture of the AdX exchange. No structural change of any kind. The finding of illegal monopoly stands; the monopoly stands right along with it.
So run the filing against the table, hon. …
Fed blames Iran war for inflation, raises rates on American homeowners instead.the receipts: 8 stories
The filing, reconciled. On August 28th, Federal Reserve Chair Kevin Warsh told an audience the central bank was "not ruling out" a rate hike, because inflation remained too high. By September 11th, The Hill had the receipt for why: inflation stayed stubbornly elevated "amid the war with Iran." Not amid a shopping spree. Not amid a raise. Amid a war.
On September 16th, the Fed did what Warsh signaled it would do: it raised the federal funds rate a quarter point, to 3.75 to 4 percent, the first increase in more than three years. The same day, progressive economists flagged the arithmetic working families were about to run twice — once through the tariffs and the war pushing prices up, and again through the higher borrowing costs the Fed had just attached to every mortgage and car loan in the file. The next morning, September 17th, The Hill ran the sequel: "Warsh wins credibility with rate hike." Nobody ran a sequel about the mortgage payment.
By this weekend, Minneapolis Fed President Neel Kashkari was still finding inflation "too high" in what he called "all aspects" of the economy, even after stripping out food and energy, the two categories currently carrying the load. …
Neel Kashkari, the president of the Federal Reserve’s Minneapolis branch, said Sunday that inflation is “still too high,” days after the central bank raised interest rates. “Even if we strip out energy, which is really volatile, and strip out food, they matter a lot, but in terms of where the economy is going, inflation is...
First-time homebuyers are now a record-low 21% of the market, at a record median age of 40 National Association of Realtors, 2025 Profile
'Working Families Foot Trump's Bill Twice' as Fed Hikes Rates Amid Worsening Affordability CrisisThe US Federal Reserve on Wednesday raised its benchmark interest rate for the first time since 2023, prompting renewed criticism from progressive economists and Democratic lawmakers who argue that President Donald Trump’s tariffs and warmongering are fueling inflation and further squeezing working families. The 12-member Federal Open…
Oil just broke $100 a barrel. Diesel has surged past $6 a gallon in parts of the country. Yet this week the Federal Reserve responded to the pain American families are feeling at the pump by raising interest rates for the first time since 2023 by a quarter of a percentage point.