Financial Daily Dose 6.3.2019 | Top Story: DOJ Mulling Google Antitrust Action

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The DOJ is considering joining its European counterparts in targeting Google for potential antitrust violations focused on Google’s “advertising practices and influence in the online advertising industry,” possibly including the company’s search practices – NYTimes and  WSJ and Bloomberg

Such a probe would be consistent with a marked shift in Washington’s thoughts on Big Tech—from savior (and massive donor) to the target of big-time regulatory action. And Google, Amazon, Facebook, and Apple are at the center of it all – NYTimes and WSJ

The serious threat of a new, immediately southern front in the White House’s trade war sent markets reeling and has led companies who “sought refuge in a country with a long, stable relationship with the United States” as a way to deal with the US/China trade dispute to wonder if anywhere’s safe these days – NYTimes

Here’s a deeper dive into the expansive scope of the intended tariffs on Mexican goods – WSJ

And while we’re talking trade, how about the news late last week that the US was “stripping India of a special status that exempts billions of dollars of its products from American tariffs”—a move prompted by India’s purported refusal to give the U.S. “equitable and reasonable access to its markets” – NYTimes and Bloomberg

A bit of helpful global historical context to understand just why the Fed cares so much about the persistently sub-2% US inflation mark – WSJ

A NY state jury hit Johnson & Johnson with a big-time $300 million punitive damages verdict after finding the company “responsible for a woman’s mesothelioma she developed after decades of using J&J talc bath products” – Law360

As if Amazon doesn’t have enough on its disruption plate, the Journal gives us the heads up that Bezos & Co. have their sights set on your next apartment through its Alexa Smart Properties project – WSJ

We won’t grant him “prison lawyer” status yet, but Pharma Bro Martin Shkreli has managed to file a $30 million lawsuit against the “three main actors in what he calls an illegal scheme to oust him from biotech company Retrophin Inc. years before he was convicted of defrauding its investors” despite his current status behind bars – Law360

UC Irvine law professor (and ex-Wall Street lawyer) Mehrsa Baradaran has a plan for bringing “government-backed competition” into the banking sector by offering public banking services to the unbanked via the United States Post Office—a service not seen in America since the 1960s. An interesting side effect of this postal banking proposal could be, you know, saving the postal service while she’s at it – WSJ

VW’s solution to rebuilding the trust of Americans (and others) in the wake of its global emissions scandal may just come in the form of currywurst.  Yep, sausages, which are labeled as 199 398 500 A in VW’s parts catalog.  Now, it just needs to find a way to actually get them to America – WSJ

MDR

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