Author

admin

Browsing

Vice President Kamala Harris’ running mate, Minnesota Gov. Tim Walz, said in 2010 that his plan for Social Security was ‘very similar’ to one that would increase the retirement age and adjust the cap on withholdings. 

The Harris campaign is pushing back after Fox News Digital reviewed the unearthed clip from a debate Walz participated in during his 2010 re-election campaign for Congress. The debate was on Oct. 12, 2010, and was held at Minnesota State University, Mankato. 

Walz, the Democratic candidate and incumbent, faced off against Independent candidate Steve Wilson and Republican Randy Demmer. 

Wilson laid out his plan first, which discussed gradually increasing the retirement age. Walz answered after, saying his approach would be ‘very similar.’ 

Harris for President spokesperson Joseph Costello, though, told Fox News Digital that Walz ‘does not support raising the retirement age, and in fact, Walz has repeatedly voted to protect Social Security and against GOP efforts to raise the retirement age.’ 

During the 2010 debate, the three candidates were asked, ‘In regard to the federal budget deficit: what would you do about Social Security and Medicare with regard to the deficit?’ 

Wilson, the independent candidate, answered first. 

‘Social Security is one that we can fix, and we just have to all put on our thinking of what we’re going to have shared sacrifice… There are three different groups of people that are affected by Social Security: one, the group that are paying in; second, the ones that are ready to retire; and third, the ones that are receiving benefits,’ Wilson said. 

Wilson said those paying into the program currently have caps on the amounts taken out of their paychecks. 

‘If we would allow that to go a little higher, then we could bring more revenue in,’ he said. 

Wilson then said the retirement age should be raised. 

‘If we look at the second group, those who are retiring, if we adjusted that retirement age a little bit and give people enough warning – remember shared sacrifice, not just you getting affected, everybody,’ Wilson said. 

Wilson then said the individuals getting benefits from Social Security should have the Cost of Living and Adjustments (COLA) amounts adjusted.

On Wilson’s website, he further explained his position, which stated: ‘The age of retirement would gradually start to increase within three years of the deployment of the safety net. It would continue to be indexed to life expectancy over the longer term.’ 

When it was Walz’s turn, he endorsed Wilson’s plan. 

‘Social Security is absolutely critical. It is the greatest anti-poverty program the world’s ever seen,’ he said. 

‘Social Security, as Steve Wilson said, who has very good ideas on Social Security, he’s thought about it – he’s being honest about it – he’s laid out a plan that I think is very similar to the approach that I would take in working with them on that,’ Walz said. 

Walz, during that debate, advocated against any ‘partial privatization’ of Social Security. He also said his family was personally affected by Social Security after his father died when he was in high school. 

‘Social Security Survivor Benefits that were there to make sure that we had the bootstraps that we could pull ourselves up by,’ he said. ‘They were loaned to us by Social Security. It’s a smart program.’ 

A source familiar with Walz’s views at the time told Fox News Digital that ‘Walz does not support raising the retirement age now, and that is not what he suggested in this 14-year-old, misrepresented exchange.’

The source said that after winning his race in 2010, Walz went on to oppose plans to raise the retirement age. In 2012, he voted against raising the age to 68; in 2012, he voted against raising the age to 70; and in 2014, he again voted against raising the retirement age to 70.

When asked for comment, the Harris campaign stressed that Walz does not support raising the retirement age, and, while serving in Congress, voted against efforts to raise the retirement age. 

‘For nearly two decades, as a governor and congressman, Walz has been a strong defender of Social Security,’ Costello said in a statement to Fox News Digital. ‘Like the Biden-Harris Administration, he supports shoring up Social Security by having the super-wealthy pay their fair share.’ 

Costello added: ‘When he was a teenager, it kept his family afloat after his dad, a veteran, passed away from lung cancer.’

This post appeared first on FOX NEWS

EAU CLAIRE, WI – Standing in front of over 15,000 supporters packed into an airport hanger at the airport in Detroit, Michigan, Vice President Kamala Harris proclaimed that ‘this election’s going to be a fight.’

‘We like a good fight,’ added Harris, who rose to the top of the Democratic Party’s 2024 ticket two and a half weeks ago after President Biden suspended his re-election bid and endorsed his vice president as his successor.

Hours earlier in neighboring Wisconsin, another crucial battleground state that will also likely determine the outcome of the presidential election between Harris and former President Trump, the vice president’s newly named running mate took aim at Trump.

Minnesota Gov. Tim Walz, enjoying what seemed like a hometown crowd at a rally just an hour from his own state, spoke to a sea of supporters – over 12,000 who had waited in line for hours on the roads and farm fields of mostly rural northwest Wisconsin to see Harris and her running mate.

Walz charged that the former president ‘sees the world differently than we see it. He has no understanding of service. Because he’s too busy serving himself again and again and again.’

‘This guy weakens our country to strengthen his own hands. He mocks our laws. He sows chaos and division among the people. And that’s to say nothing of the job he did as president,’ Walz argued.

Walz, a former high school teacher and football coach before entering politics, showcased his Midwestern roots as he told the ‘Packers and Badgers fans’ in the crowd that he once coached his team to a state championship and touted that he was the ‘top gun’ three years running at the trap shoot during his dozen years representing a mostly rural red-leaning district from southern Minnesota in Congress.

Hours earlier, Trump aimed to paint Harris and Walz as ultra-liberals as he called into Fox News’ ‘Fox and Friends’ for an interview.

‘You know, nobody knew how radical left she was, but he’s a smarter version of her, if you want to know the truth,’ Trump claimed in his Wednesday interview. ‘He’s probably about the same as Bernie Sanders. He’s probably more so than Bernie Sanders.’

And the former president argued that ‘this is a ticket that would want this country to go communist immediately, if not sooner.’

Trump’s team was planning on painting the Democratic ticket as extreme left-leaning regardless of whom the vice president chose as her running mate, a source in Trump’s campaign told Fox News.

But Harris’ naming on Tuesday of Walz, a moderate congressman who shifted to a more progressive governor, over more moderate running mate finalists Gov. Josh Shapiro of Pennsylvania and Sen. Mark Kelly of Arizona seemed like a gift to Trump’s team.

‘I could not be more thrilled,’ Trump said regarding the choice of Walz as running mate. ‘I was shocked when, when it came down to the final two, that she didn’t pick Shapiro. I was very surprised.’

But the naming of a running mate has been lucrative for the Harris campaign, which highlighted that it had hauled in $36 million in fundraising in the 24 hours since the Walz announcement.

At the rally, Walz once again argued that Trump and running mate Sen. JD Vance of Ohio ‘are creepy and weird as hell.’

Vance, at a dueling campaign event just miles away, pushed back on the ‘weird’ label, saying he and Trump are ‘normal guys who want to make this country great.’

In a viral moment, Vance appeared to try and troll the vice president, as he approached Air Force Two at Chippewa Valley Regional Airport, where the senator’s campaign plane was also parked.

‘I figured that I would come by and get a good look at the plane because hopefully it’s going to be my plane in a few months,’ Vance said in front of Air Force Two. 

And once again pointing out that Harris has yet to sit for a major interview or hold a press conference in the two and a half weeks since she replaced Biden at the top of the Democrats’ national ticket, Vance told reporters, ‘I also thought you guys may get lonely, because the VP doesn’t answer questions from reporters.’

Vance also took aim at Walz, who served nearly a quarter-century in the National Guard, for what he claimed was ‘stolen valor,’ as the Trump campaign launched a full-frontal assault on the governor, accusing him of misrepresenting his rank, his service and charging he abandoned his unit on the eve of its deployment to Iraq.

The charge, if substantiated, could be explosive, as Trump co-campaign manager Chris LaCivita well knows.

He was the mastermind 20 years ago behind the ‘Swift Boat Veterans for Truth’ campaign that aimed to discredit Vietnam War veteran and Purple Heart recipient Sen. John Kerry of Massachusetts ahead of his narrow 2004 presidential election loss to GOP incumbent George W. Bush.

But Vance himself never served in combat. While Vance was deployed to the war in Iraq as a Marine, he worked in the public affairs department while on his deployment.

And Trump over the years has faced well-documented allegations that as a young man he dodged the Vietnam War draft by claiming to have bone spurs in his feet, which sidetracked him from service.

It’s no surprise that Harris and Walz so far this week have held rallies in Pennsylvania, Wisconsin and Michigan, with Vance holding events nearby to stay in close proximity.

The three states make up the so-called ‘Blue Wall’ that Democrats reliably won in presidential elections for nearly a quarter-century before Trump narrowly carried them in capturing the White House eight years ago.

But in 2020, Biden won back all three states with razor-thin margins as he defeated Trump, and the states remain extremely competitive as Harris and Trump face off in the 2024 presidential election.

The latest polls now show a margin-of-error race in the Blue Wall states, as well as in Georgia, North Carolina, Arizona and Nevada, the other key battleground states.

Biden dropped his re-election bid on July 21, after a disastrous debate performance against Trump in late June prompted increased questions over whether the 81-year-old president had the physical and mental abilities to serve another four years in the White House. It also sparked a rising chorus of calls from fellow Democrats for Biden to end his re-election bid.

Harris didn’t mention her boss at a large rally in Atlanta last week, nor did she or Walz reference the president at their rally Tuesday night in Philadelphia.

But Harris, in her sixth visit to Wisconsin so far this year, praised the president at the top of her comments.

‘I want to bring greetings from our incredible president, Joe Biden,’ Harris said. ‘He loves Wisconsin, and I know we are all deeply grateful for his lifetime of service to our nation and for all he continues to do.’

After the crowd broke out in a chant of ‘Thank you, Joe! Thank you, Joe!’ the vice president responded, ‘That’s right. I’m gonna tell him what you said.’

This post appeared first on FOX NEWS

The U.S. has reportedly warned Iran a retaliatory attack on Israel for the recent killing of a senior Hamas leader in Tehran would pose a ‘serious risk’ for Iran’s economy and government and likely escalate the months-long conflict between Israel and Hamas. 

A U.S. official told The Wall Street Journal the U.S. has communicated to Iran that the risk of a major escalation is ‘extremely high’ if it carries out a retaliatory attack. 

The official said Tehran has been put on notice ‘that there is a serious risk of consequences for Iran’s economy and the stability of its newly elected government if it goes down that path.’ 

Hamas leader Ismail Haniyeh was assassinated in Tehran late last month. Israel was immediately blamed for the assassination after pledging to kill Haniyeh and other Hamas leaders over the terrorist group’s Oct. 7 attack on the Jewish state, which killed 1,200 people and saw hundreds more taken hostage. 

Haniyeh had been in Tehran for the swearing-in ceremony of Iran’s newly-elected president, Masoud Pezeshkian. 

Iran has signaled its intention to strike back at Israel, though the exact scope and timing of a potential attack are not clear. That’s in contrast to Iran’s highly anticipated missile and drone attack on Israel in April in retaliation for Israel killing a senior Iranian paramilitary commander in Syria. 

Another variable at play is the Iranian proxy terrorist group Hezbollah, which has in recent months been escalating attacks on Israel near its border with Lebanon.

Earlier this week, Israel said it carried out an airstrike in southern Lebanon, killing four Hezbollah fighters. 

U.S. officials have insisted that warnings to Iran concern the risks of provoking a military response from Israe and deepening the conflict, and not potential U.S. military action, per the Journal. 

These developments come as Qatari, Egyptian and U.S. leaders have urged Israel to resume talks with Hamas Aug. 15. 

‘It is time to conclude a cease-fire agreement and release hostages and prisoners,’ a joint statement from the three countries Thursday sid.

Israeli Prime Minister Benjamin Netanyahu said Israel will send a negotiating team Aug. 15 to finalize the details of the Gaza cease-fire framework. 

The mediators said the talks would take place either in Qatar’s capital of Doha or Egypt’s capital of Cairo. Last week’s killing of Haniyeh was widely seen as a blow to cease-fire talks. 

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

Former President Trump said President Biden had ‘the right to run’ for re-election and the Democratic Party ‘took it away’ from him, while blasting his new opponent Kamala Harris as the ‘least admired, least respected, and worst vice president in the history of our country.’ 

Trump held a press conference at Mar-a-Lago on Thursday afternoon after holding off-the-record meetings with major media outlets. The Trump campaign said the Republican presidential nominee wanted to address the media ‘while they were already in Palm Beach because he’s the most transparent candidate in history.’ 

Trump said Thursday that the U.S. is in ‘the most dangerous period of time I’ve ever seen for our country.’ 

‘We have somebody that hasn’t received one vote for president, and she’s running, and that’s fine with me, but we were given Joe Biden, and now we’re given somebody else,’ Trump said. ‘I think, frankly, I’d rather be running against somebody else, but that was their choice.’ 

Trump said Harris is ‘a radical left person at a level that nobody’s seen,’ and said her running mate, Minnesota Gov. Tim Walz, is a ‘radical left man that has positions that are not even possible to believe they exist.’ 

‘He’s heavy into the transgender world, heavy into lots of different worlds having to do with safety. He doesn’t want to have borders, he doesn’t want to have walls. He doesn’t want to have any form of safety for our country,’ Trump said. ‘He doesn’t mind people coming in from prisons and neither does she — I guess because she couldn’t care less.’ 

Harris formally became the nominee after Biden suspended his re-election campaign and endorsed her amid pressure from within the Democratic Party. The Democratic National Committee formally nominated Harris as their nominee this week. 

‘The presidency was taken away from Joe Biden, and I’m no Biden fan,’ Trump said. ‘From a constitutional standpoint, from any standpoint you look at, they took the presidency away, and people are saying he lost after the debate and he couldn’t win.’ 

‘Whether he could win or he couldn’t, when he had the right to run, and they took it away, and they said they would use the 25th Amendment,’ Trump continued. 

Trump said the pressure from within the Democrat Party and ‘what they’ve done’ is ‘pretty incredible.’ 

‘Now I’m running against somebody else, and we’re leading. We’re leading — so I’m not complaining,’ he said. ‘I’m saying, for a country with a Constitution that we cherish — we cherish this Constitution — to have done it this way is pretty severe, pretty horrible.’ 

Trump said he thought Democrats ‘would have gone out to a vote’ or ‘would have had a primary system.’ 

‘But just to take it away from him like he was a child?’ Trump said, adding that Biden is ‘a very angry man right now.’ 

‘I can tell you that he’s not happy with Obama, and he’s not happy with Nancy Pelosi,’ Trump said. ‘He’s not happy with any of the people that told him ‘you’ve got to leave.’ He’s very unhappy, very angry.’ 

Trump said he thinks Biden ‘also blames’ Harris. 

‘He’s trying to put up a good face, but it is a very bad thing in terms of a country when you do that,’ Trump said. ‘I’m not a fan of his, as you probably have noticed, and he had a rough debate, but that doesn’t mean that you just take it away like that.’ 

He added: ‘You go out to a vote, you do something — he had 14 million votes. She had no votes.’ 

‘And she’s crashing,’ Trump said. 

‘We have a vice president who is the least admired, least respected, and the worst vice president in the history of our country. The most unpopular vice president,’ he said of Harris. 

Trump also slammed Harris for not engaging with the media. Harris has been the de facto Democratic nominee for 18 days, and she has not held a formal press conference or sat for a wide-ranging interview. 

‘She’s not doing any news conference. You know why she’s not doing it? Because she can’t do a news conference. She doesn’t know how to do a news conference,’ Trump said. ‘She’s not smart enough to do a news conference.’ 

Trump said he is ‘very happy to run against’ Harris, and said he ‘hates to be defending’ Biden, but pointed to the Constitution again. 

‘We have a Constitution. It’s a very important document, and we live by it. She has no votes, and I’m very happy to run against her. I’m not complaining from that standpoint. And I hate to be defending him, but he did not want to leave. He wanted to see if he could win,’ Trump said. ‘They said, ‘You’re not going to win.’ After the debate, they said, ‘You’re not going to win. You can’t win. You’re out.” 

Trump said Democrats, after successfully pressuring Biden to drop out of the race, ‘just picked a person.’ 

Trump, pointing to Harris’ failed 2020 Democratic presidential primary campaign, said she was ‘the first out.’ 

‘She was the first loser. Okay. So we call her the first loser. She was the first loser when, during the primary system, during the Democrat primary system, she was the first one to quit, and she quit. She had no votes, no support, and she was a bad debater, by the way, a very bad debater,’ Trump said. ‘And that’s not the thing I’m looking forward to. But she was a bad debater. She obviously did a bad job. She never made it to Iowa then, for some reason.’ 

Trump said he thinks Biden ‘regrets’ tapping Harris as vice president. 

‘He picked her and she turned on him, too. She was working with the people that wanted him out,’ he said. ‘But the fact that you can get no votes, lose in the primary system. In other words, you had 14 or 15 people. She was the first one out, and that you can then be picked to run for president.’ 

Trump added: ‘It seems, seems to me actually unconstitutional. Perhaps it’s not.’ 

This post appeared first on FOX NEWS

Israeli Prime Minister Benjamin Netanyahu, in a new interview with Time Magazine, apologized for the Oct. 7 attack by Hamas terrorists happening on his watch, and warned that the country now faces a ‘full-fledged Iranian axis.’

Netanyahu had been prime minister for almost a year when Hamas terrorists launched the attack on southern Israel that left 1,200 people dead and hundreds more taken as hostages in Gaza. 

In an interview conducted on Aug. 4 at the prime minister’s office in Jerusalem, Time asked Netanyahu whether he would apologize for the Oct. 7 attack, noting his 17-year cumulative political career has been built on the argument that he is the best leader to ensure Israel’s safety.  

‘Apologize?’ Netanyahu asked. ‘Of course, of course. I am sorry, deeply, that something like this happened. And you always look back and you say, ‘Could we have done things that would have prevented it?’’

Ten months after what amounted to the deadliest attack on Jews since the Holocaust, the Biden administration has increasingly grown frustrated with Netanyahu for failing to deliver a plan to end the war and get the more than 100 hostages still held by Hamas home. 

Israel now faces more fronts – in the north with Hezbollah in Lebanon, in the Gulf with the Houthis in Yemen – and now is bracing for an aerial assault from its main enemy, Iran. 

‘We’re facing not merely Hamas,’ Netanyahu told TIME. ‘We’re facing a full-fledged Iranian axis, and we understand that we have to organize ourselves for broader defense.’

According to a July poll by Israel’s most watched television station, 72% of Israelis believe Netanyahu should resign now or after the conflict ends. 

Critics, including former Israeli Prime Minister Ehud Barak, have accused Netanyahu of prolonging the war to further his own political ambition. 

‘Netanyahu is focused on his longevity in power more than the interests of the Israeli people or the State of Israel,’ Barak told Time. ‘It will take half a generation to repair the damage that Netanyahu has caused in the last year.’ 

Netanyahu argued that Israel must demolish every element of Iran’s ‘axis of resistance’ in the region to ensure that Israel is never subjected to future massacres and that Hamas can no longer lay claim to Palestinian territories.

‘Being destroyed has bigger implications about Israel’s security,’ Netanyahu told Time, describing the war as existential. ‘I’d rather have bad press than a good obituary.’

Netanyahu delivered a speech to Congress in Washington, D.C., on July 25 to rally support from Israel’s closest ally, but nearly 130 Democrats and Vice President Harris declined to attend. 

‘I don’t think that the much-reported erosion of support among some quarters of the American public is related to Israel,’ Netanyahu told Time. 

‘It’s more related to America,’ he added, referencing a Harvard-Harris survey in January showing that 80% of respondents supported Israel, while 20% supported Hamas. 

‘There’s a problem that America has,’ Netanyahu said, noting a significant amount of support for a terrorist organization. ‘It’s not a problem that Israel has.’

The Biden administration and former President Trump have both expressed a desire for the war to end. Netanyahu has noted in the past that Israel did not start the war, but must be able to end it for its future security.

When U.S. Secretary of State Antony Blinken flew to Tel Aviv earlier this year, he reportedly told Netanyahu to bring the war to a close, because Israeli forces had already ensured that another Oct. 7 couldn’t happen again. Netanyahu reportedly replied that wasn’t his objective. Instead, he said, the goal was to ‘completely destroy Hamas’ military and governing capabilities.’

‘We’ve gone out of our way to enable humanitarian assistance since the beginning of the war,’ Netanyahu told Time, responding to allegations brought by Columbia professor Rashid Khalidi that the Israeli operations amounted to ‘collective punishment’ of civilians for Hamas’ actions. 

Time noted how Netanyahu embraced a policy over the past 10 years allowing Qatari funds to flow into Gaza after Hamas rose to power first through elections and later by force. It was meant as an incentive for Hamas to govern peacefully but instead financed miles of terror tunnels under civilian infrastructure. Also in January 2023, Netanyahu led government reforms that curbed judiciary powers, prompting large-scale protests. 

‘You are weakening us, and our enemy is going to see it, and we’re going to pay the price,’ former Minister of Defense Benny Gantz cautioned Netanyahu at the time. 

The prime minister placed blame on the protesters, many of whom said they would not serve in the Israeli military if the country’s democratic institutions were weakened. 

Netanyahu said his biggest mistake, however, was not going to war with Hamas in the past, listening to his security cabinet, which opposed such a move. For years, Israel’s strategy was to respond to Hamas’ attacks periodically by striking back and damaging them to the point of the terror group agreeing to a cease-fire that ultimately kept them in control of Gaza, with the ability to bolster their terror infrastructure that includes a complex network of underground tunnels.

Time reported that when Israel did go to war against Hamas for less than two months in 2014, Israeli officials said the security cabinet brought Netanyahu a plan to end the terror organization. The plan was predicted to lead to the deaths of approximately 10,000 Gazan civilians and 500 Israeli soldiers.

‘There was no domestic support for such an action,’ Netanyahu told Time regarding that plan. ‘There was certainly no international support for such an action – and you need both.’

This post appeared first on FOX NEWS

Several progressive women’s groups were silent when asked by Fox News Digital about how second gentleman Doug Emhoff’s affair when he was married to his ex-wife could affect his image as a leader championing their cause.

Fox News Digital sent an inquiry for comment to EMILYs List, the League of Women Voters, the Progressive Women’s Alliance of West Michigan, the National Organization for Women, the National Women’s Political Caucus, the Feminist Majority Foundation, the Institute for Women’s Policy Research, the Women’s Liberation Front and the International Center for Research on Women. None of the groups returned a request for comment about whether Emhoff should face heightened scrutiny as potentially the next first gentleman by press deadline.

As the Democratic Party’s standard-bearer husband, Emhoff has been involved in a number of left-wing causes and has encouraged men to advocate for abortion in the aftermath of the summer 2022 decision to overturn Roe v. Wade. Earlier this year, he teamed up with Men4Choice to tour Florida, Arizona and North Carolina to campaign for abortion rights. Meanwhile, his wife was making press stops at abortion clinics.

‘This is an issue of fairness to women. Women are dying,’ Emhoff said in an NBC interview in May. ‘It’s affecting man’s ability to plan their lives. And it’s also an issue of what’s next, what other freedoms are at risk. And these freedoms are affecting all Americans, not just women.’

Emhoff, Vice President Harris’ husband, admitted to having an affair with a nanny shortly after the Daily Mail published a report last week that the second gentleman had an affair with his daughter’s nanny and got her pregnant. The nanny’s close friend told the outlet that she did not keep the baby but did not elaborate further.

‘During my first marriage, Kerstin and I went through some tough times on account of my actions. I took responsibility, and in the years since, we worked through things as a family and have come out stronger on the other side,’ Emhoff told CNN last week of the affair.

Emhoff and his first wife were married from 1992 to 2008 and share two adult children. Harris married Emhoff in 2014 and helped co-parent his children, who call their stepmother ‘Mommala.’

The divorce cited ‘irreconcilable differences’ as the motivation behind parting ways, the New York Post reported. 

Harris knew about the affair before they married, and the Biden 2020 campaign knew about it when it was vetting her for Biden’s vice presidential pick, CNN reported. 

Kerstin Emhoff defended her ex in a statement to the Washington Post on Saturday. 

‘Doug and I decided to end our marriage for a variety of reasons, many years ago,’ she wrote. ‘He is a great father to our kids, continues to be a great friend to me and I am really proud of the warm and supportive blended family Doug, Kamala, and I have built together.’

Despite the affair and divorce, Kerstin Emhoff has posted supportive messages about her ex-husband’s second wife and has endorsed Harris on social media.

Fox News Digital’s Emma Colton contributed to this report.

This post appeared first on FOX NEWS

In ruling Monday that Google has held a monopoly in internet search, U.S. judge Amit Mehta invoked the company at the center of the most famous tech antitrust case in U.S. history: Microsoft.

A federal judge determined in 1999 that Microsoft had illegally used the market power of its Windows operating system to box out rival browsers, namely Netscape Navigator. A settlement in 2001 forced the software giant to stop disadvantaging competitors in its PC deals.

Google’s landmark case, filed by the government in 2020, alleged that the company has kept its share of the search market by creating strong barriers to entry and a feedback loop that sustained its dominance. The court found that Google violated Section 2 of the Sherman Act, which outlaws monopolies.

“The end result here is not dissimilar from the Microsoft court’s conclusion as to the browser market,” Mehta wrote in his 300-page ruling. “Just as the agreements in that case help[ed] keep usage of Navigator below the critical level necessary for Navigator or any other rival to pose a real threat to Microsoft’s monopoly, Google’s distribution agreements have constrained the query volumes of its rivals, thereby inoculating Google against any genuine competitive threat.”

Mehta said one key similarity is the “power of the default.” For Google, that refers to its search position on Apple’s iPhone and Samsung devices — deals that cost the company billions of dollars a year in payouts.

“Users are free to navigate to Google’s rivals through non-default search access points, but they rarely do,” Mehta wrote.

Mehta said a separate trial will take place on Sept. 4, to determine the remedies, or penalties against Google. At that point, Google can appeal, a process that experts said could take around two years. Microsoft appealed its initial ruling before ultimately settling with the Department of Justice.

“All along, the government has implicitly and explicitly said they’re basing this case on the Microsoft case,” said Sam Weinstein, law professor at Cardozo Law School and a former DOJ antitrust lawyer.

In the case of Microsoft, Judge Thomas Penfield Jackson found that the company forced PC makers to include its Internet Explorer browser in Windows, and threatened to punish them for installing or promoting Navigator. The judge proposed that Microsoft divest either its operating system business or its applications business, which both enjoyed market leadership. 

After Microsoft’s successful appeal, a U.S. District Court banned the software company from retaliating against device makers for shipping PCs that include multiple operating systems. Microsoft was required to give software and hardware companies the same programming interfaces that Microsoft middleware employs to work with Windows.

Nicholas Economides, an economics professor at New York University’s Stern School of Business, said the similarities in the Google case are clear.

“My first reaction on this is that Google appears to lose across the board,” Economides said. “This big blow reminded me of the Justice Department’s win against Microsoft.”

The most likely outcome, according to some legal experts, is that the court will ask Google to do away with certain exclusive agreements. The court could suggest that Google make it easier for users to try other search engines. 

While a monetary penalty is also on the table, the bigger risk is that Google will have to alter its business practices in a way that undermines profitability. For example, if Google can no longer be considered a default search engine on smartphones, it could lose a significant chunk of business in its core market.

In the second quarter, “Google Search & Other” accounted for $48.5 billion in revenue, or 57% of Alphabet’s total revenue.

In its appeal, Google will likely introduce fresh evidence that artificial intelligence has played more of a role in competition, a dynamic that didn’t exist when the DOJ filed its initial lawsuit. However, it’s a perception Google has tried to downplay since being upstaged by OpenAI’s ChatGPT.

Neil Chilson, former chief technologist for the Federal Trade Commission and currently head of AI policy at the Abundance Institute, sees increased competition for Google due in part to AI, which could help the company’s case.

“The rigid market definitions means the court finds that Google has illegally maintained a monopoly in general search,” Chilson said. But “search vertical providers” like Amazon and AI services like ChatGPT “threaten to upend Google’s entire general search advertising business model,” Chilson said.

Google shares didn’t move much after Monday’s ruling, as the stock was already trading lower due to the broad market sell-off. The stock slipped another 0.6% on Tuesday to close at $158.29. Google didn’t provide a comment for this story.

Since Mehta didn’t discuss potential remedies in the ruling, investors and analysts are forced to wait. Experts say it’s unlikely that Google will be forced to break itself up.

“I think there were obvious business lines you could spin off in the Microsoft case but it’s not as obvious here,” Weinstein said, adding that divestiture is rarely ordered for a Section 2 case.

The trial beginning Sept. 4 will produce some important answers. Bill Baer, who formerly ran antitrust divisions at both the FTC and DOJ, said the Microsoft precedent makes the case against Google a strong one.

“It’s hard to say at this point what the DOJ is going to seek and what the judge is going to accept,” Baer said.

— CNBC’s Jordan Novet contributed to this report.

This post appeared first on NBC NEWS

Stocks slipped into the red as markets closed Wednesday, losing gains from earlier in the day as Wall Street failed to recoup losses from Monday’s massive sell-off.

The Dow Jones Industrial Average fell 163 points, or 0.4%. The S&P 500 declined 0.5%, while the Nasdaq Composite dropped 0.7%.

Earlier in Wednesday’s trading session, the Dow rallied more than 300 points. The broad S&P 500 and the tech-heavy Nasdaq were also higher on the day before turning negative.

A rollover in Nvidia and other big technology stocks following an early jump led to the major averages rolling over in the afternoon. Nvidia pulled back 3.5%, while shares of Super Micro Computer tumbled more than 20% after the server company’s fiscal fourth-quarter earnings missed analyst estimates. Tesla also lost 3.4% and Meta Platforms shed 0.2%.

The benchmark 10-year Treasury yield continued its climb and rose 5 basis points to 3.94%. This marked a return to its level prior to the weak jobs numbers on Friday that raised concerns of an economic downturn.

The Cboe Volatility Index, known as Wall Street’s “fear gauge,” was last trading at 28.3 after falling to as low as 22 earlier on Wednesday. The sharp decline from near 65 on Monday indicates investors’ fears are abating, but still remain elevated from their initial levels at the start of the month.

“There’s been some reassurance over the last couple days that things have calmed down a bit. But there are still quite a few unknowns on the horizon, such as how much more unwind there is on the yen carry trade, as well as geopolitical headwinds,” said Charlie Ripley, senior investment strategist at Allianz Investment Management.

On Tuesday, the S&P 500 and the Nasdaq each advanced 1%, while the 30-stock Dow added nearly 300 points on Tuesday. On Monday, the Dow and the broad-market S&P 500 posted their worst session since 2022, fueled by recession worries and the unwinding of the yen carry trade.

This post appeared first on NBC NEWS

Members of the main U.S. transportation regulator grilled Boeing executives Wednesday over the company’s workplace safety culture and allegations of retaliation linked to two employees who were sidelined over a January mishap involving a Boeing 737 Max 9 in which a door plug detached mid-flight.

Jennifer Homendy, chair of the National Transportation Safety Board, or NTSB, directed a series of questions to Boeing’s director of quality, Hector Silva, about employee-manager relationships after Boeing stated that “everybody in the organization” is responsible for safety and that employees are not punished for good faith mistakes. 

“I understand you have an anti-retaliation policy. I also understand that you have a policy for lateral moves.” Homendy said. “So given that it is not intentional — and we just talked about how, when there are safety issues and human error, that you should be welcoming people to speak up — what sort of impression is that giving your employees if you sidelined them and put them in, and I am quoting, ‘Boeing prison, the cage?’ I’m wondering what message that sends?”

Silva responded, “I am not directly involved with those employees,” adding, “I do know that in just culture, you need to address good faith mistakes with nonpunitive solutions. I know we always take action to ensure that product safety is protected.” 

Moments after takeoff on Jan. 5, Alaska Airlines Flight 1282 from Portland, Oregon, to Ontario, California, experienced a rapid decompression when a mid-exit door plug blew off, leaving a gaping hole as passengers clung to their seats and donned oxygen masks while the aircraft made an emergency landing.

A preliminary report found that four bolts intended to secure the door plug had been missing when the accident occurred. 

Boeing has not publicly identified the two door crew members who may be responsible for having forgotten to reinstall the bolts in September before the plane completed manufacturing at Boeing’s Renton, Washington, plant. 

Silva acknowledged that the error should have been caught, at the latest, “prior to the rollout of the airplane.”

Sabrina Woods, an NTSB human performance aviation accident investigator, pressed for answers about how the mistake was not caught.

“Bolts were not reinstalled, but one error in a robust system should not be able to progress all the way over to an accident,” Woods said. “It is in your system. Where should the error have been stopped in its tracks?”

Boeing execs did not respond.

Homendy read additional NTSB interview transcripts that noted a Boeing employee told NTSB investigators, “We got a lot of people that will not, that are not going to speak up because they do, they have been burned by a manager, they have been moved, relocated, pushed out.”

“You mess up, you get moved,” the worker said in the report. “Three minutes late and then you’re moved.” 

Elizabeth Lund, Boeing’s senior vice president of quality, said during Tuesday’s part of the hearing that there are most likely two workers who made the decision to open the door plug and that, as standard practice in an investigation, the workers were initially removed from airplane production and reassigned to a lateral position in pay, benefits and shifts. They are on administrative leave at their own request, Lund said.

The workers were placed in a different building where Boeing builds wings, which the NTSB said in a report workers refer to as “Boeing prison,” Homendy said at Tuesday’s hearing.

Lund said she did not know it was called that. 

Security video of the plane from the plane as it was being manufactured has been rewritten. Boeing officials said the system rewrites video after 30 days.

Lund also detailed steps Boeing has taken to address safety quality issues. Boeing is working on plug sensor changes that will not allow the door plug to fully close if there are any issues until it is firmly secured. Approved design changes are expected to begin within the year, and Boeing will retrofit the fleet once a design is completed.

Boeing committed under oath to work with the NTSB without interference on a safety culture survey of Boeing employees.

Boeing’s new CEO, Kelly Ortberg, assumes his new post Thursday.

This post appeared first on NBC NEWS

Here’s a surprise: Disney’s media business isn’t weighing down the company anymore.

The primary Disney investor narrative since 2022 has been how streaming losses, combined with a declining traditional pay TV business and a string of box office failures, have been anchoring surging sales and profits at the company’s theme parks and resorts. The result has been a company whose shares have fallen about 24% in the past two years, while the S&P 500 has gained 28% in the same period.

The company’s second-quarter results suggest a shift is happening. Disney’s combined streaming businesses — Disney+, Hulu and ESPN+ — turned a quarterly profit for the first time ever, making $47 million. That’s a significant improvement from losing $512 million in the same quarter a year ago.

Disney’s theatrical unit is also on a hot streak. “Inside Out 2” became the highest-grossing animated film of all time in recent weeks. “Deadpool & Wolverine” has taken in $824 million after two weeks of global release. Disney has become the first studio in 2024 to top $3 billion in worldwide ticket sales.

Meanwhile, Disney saw a “moderation of consumer demand towards the end of [fiscal] Q3 that exceeded our previous expectations” for its theme parks division. That caused shares to slump about 3% in early trading.

Disney Chief Executive Officer Bob Iger said during his company’s earnings conference call that he expects the momentum for the media business will only gain steam. That’s music to the ears of Wall Street, which wants both growth and profitability.

“We feel very bullish about the future of this business,” Iger said in reference to streaming. “You can expect that it’s going to grow nicely in fiscal 2025.”

Iger referenced a planned crackdown on password sharing, which will begin “in earnest” in September, as a tool that will help generate new subscribers and added revenue for the company. A similar effort from Netflix has helped the world’s largest streamer add new customers during the past year.

Disney is also raising prices for its streaming services in mid-October. Most plans for Disney+, Hulu and ESPN+ will cost $1 to $2 more per month.

Iger rattled off a list of movie titles that Disney hasn’t yet released to emphasize the studio’s solid positioning for the rest of 2024 and beyond.

“Let me just read to you the movies that we’ll be making and releasing in the next almost two years,” Iger said. “We have ‘Moana,’ ‘Mufasa,’ ‘Captain America,’ ‘Snow White,’ ‘Thunderbolts,’ ‘Fantastic Four,’ ‘Zootopia,’ ‘Avatar,’ ‘Avengers,’ ‘Mandalorian’ and ‘Toy Story,’ just to name a few. When you think about not only the potential of those in box office but the potential of those to drive global streaming value, I think there’s a reason to be bullish about where we’re headed.”

Disney isn’t de-emphasizing the parks. The company said last year it plans to invest $60 billion in its theme parks and cruise lines in the next decade. But it’s undoubtedly healthier for the company to persuade investors that the media units aren’t weighing down the share price.

Disney shares dropped Wednesday, likely because investors were focused on the parks. The next step is for shares to rise during a quarterly earnings report because investors are excited about the media units.

This post appeared first on NBC NEWS