The U.S. Justice Department's antitrust lawsuit against Google's search engine dominance is coming closer to a resolution. The trial has wrapped up and Judge Amit Mehta will issue his opinion later this year. The lawsuit hinges on whether Google's payments to Apple to become the default search engine violated antitrust law.
Category: Microeconomics
Manufacturing in Mexico is Having Its Moment. The U.S. is Buying In – and So is China (Micro News for April 27, 2024 – May 3, 2024)
Mexico is emerging as a winner in foreign direct investment as both Chinese and U.S. producers locate manufacturing facilities there to shorten supply chains and reduce the supply chain disruption risk highlighted during the Covid-19 pandemic. This practice of moving facilities closer to home markets is called nearshoring.
FTC Announces Rule Banning Noncompetes (Micro News for April 20, 2024 – April 26, 2024)
The Federal Trade Commission (FTC) issued a final ruling banning the practice of noncompete agreements. The FTC maintains the noncompetes denied workers "the fundamental freedom" to switch jobs which in turn will increase innovation and foster new business formation. The regulators estimate that another 8,500 startups will be created every year now that the practice is banned.
March Home Sales Dropped Despite a Surge in Supply. Here’s Why (Micro News for April 13, 2024 – April 19, 2024)
Previously owned home sales fell by 4.3% in March 2024 compared to the previous month and were 3.7% lower than March 2023. Experts attributed the decline to higher mortgage rates. Mortgage rates for a 30-year fixed rate mortgage increased from the mid-6% range in January to around 7.5% which increases monthly mortgage payments for the same price home.
Pearson Economic News 