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A federal judge blasted Google for its negligent policy that resulted in the deletion of employee chat records as closing arguments wrapped up Friday in a landmark antitrust case that could result in unprecedented changes to the tech giant’s core business.

Justice Department attorneys asked Judge Amit Mehta to sanction Google for failing to preserve evidence despite a court order and to rule that its conduct was intended to conceal anticompetitive behavior. Google has denied wrongdoing.

Mehta said it was negligent of Google to implement the policy, which automatically destroyed employee messages after 24 hours.

Googles document retention policy leaves a lot to be desired, Mehta said. Its shocking to me that a company would leave it to its employees to decide when to preserve documents.

Mehta did not indicate whether he would sanction Google over the policy. An attorney for the tech giant said the auto-erase policy was explicitly disclosed to plaintiffs years earlier, undercutting the feds claims that it showed intent to destroy evidence.

Google was already sanctioned over the same evidence destruction claims in a separate federal case filed by Fortnite maker Epic Games. Late last year, US District Judge James Donato said Googles willful and intentional suppression of relevant evidence in this case is deeply troubling.

This conduct is a frontal assault on the fair administration of justice. It undercuts due process. It calls into question just resolution of legal disputes. It is antithetical to our system, Donato said in December.

Earlier in the DOJs antitrust case, Google CEO Sundar Pichai testified that the automatic chat deletion policy was already in place when he took the job in 2015 and said he had since taken action to end it.

Much of the second and final day of closing arguments was focused on Googles conduct toward advertisers in the online search market.

The DOJ said Googles market dominance allows it to jack up prices on advertisers and cited internal documents to argue that the company has at times tweaked search results in a way that hurt quality in order to boost its profits.

Only a monopolist can make a product worse and still make more money, DOJ attorney David Dahlquist said.

A day earlier, Google faced tough questions over claims by its lawyers that the company faces stiff competition for user eyeballs. The companys defense team pointed to other tech platforms such as Microsoft and Amazon as well as travel sites like Expedia, smaller search engines like DuckDuckGo and media outlets like ESPN as rivals for search traffic.

Mehta appeared skeptical of the argument that Google, which has a 90% share of the online search market, faced meaningful competition from those firms.

You really think that DuckDuckGo is a competitor on Google? the judge asked Googles lawyers at one point on Thursday.

The judge also scrutinized the DOJs arguments, warning that the feds faced a hard road to prove that Google had failed to innovate in online search over the last decade.

He cited Microsofts admission during the trial that it hadnt spent enough resources to build out its own mobile search business to challenge Google.

Mehta is expected to issue a decision on whether Google has maintained an illegal monopoly over online search later this year. When initial court testimony concluded last fall, Mehta admitted he had no idea how he would rule on the case.

If Mehta rules against Google, a separate trial will be held to determine what remedies should be implemented. The DOJ has not specified what remedies it is seeking.

Options could include mandated choice screens allowing users to pick their own default search engine or even a breakup of Googles business empire.

The Justice Department argued that Google has relied for years on billions of dollars in payments to partners such as Apple and AT&T including $26.3 billion in 2021 alone to ensure that its search engine is enabled by default on most smartphones. The feds say the deals stifle competition and hurt consumers by limiting choice and search quality.

Ahead of closing arguments, an unredacted document revealed that Google had made a whopping $20 billion to Apple in 2022 to be the default search engine on iPhones and other devices. The DOJ has pointed to the size of the deals as evidence of their importance to Google.

Google has denied operating a monopoly and asserted that it faces intense competition in the online search market. The company has described the default deals as fair competition and claims the public gravitates toward its search tool because of its quality.

Closing arguments came months after witness testimony that began in mid-September and lasted for 10 weeks. Key witnesses included Microsoft CEO Satya Nadella who testified that Googles default deals made the concept of user choice in online search completely bogus.

Google CEO Sundar Pichai also took the witness stand last October, as did Apple executive Eddy Cue and a cadre of economists, professors and business executives who gave detail on how the companys search empire functions.

With Post wires

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Bank of America boss Brian Moynihan warns countries to ‘be careful’ when raising tax

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Bank of America boss Brian Moynihan warns countries to 'be careful' when raising tax

The chairman and chief executive of one of the world’s biggest banks has said countries have “got to be careful” with their budgets and ask themselves what a tax rise is for.

Bank of America’s Brian Moynihan was speaking about the UK budget to Sky’s Wilfred Frost on his The Master Investor Podcast.

While Mr Moynihan said the recent UK fiscal announcement was “fine with Bank of America”, he added that governments must be careful with financial markets’ reaction.

“All countries have to understand that the simple question a business asks is, you want higher taxes… higher taxes for what? If the ‘for what’ is not something that makes sense, that’s when you get in trouble,” Mr Moynihan said.

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The American executive was complimentary of the UK as a centre for financial services, saying, “You’ve got to realise this is one of your best industries”.

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“You have many other good industries, but a great industry for you is financial services”.

The power of London

While Paris was looked to in the wake of Brexit, London has pulling power for Bank of America and its staff, Mr Moynihan said.

“London is a great city for young kids to come work. People from all over the world will come work here a while and leave, and others will stay here permanently.

“That’s the advantage you have. You’re built. And while other financial centres are trying to build…. you’re built, you’re there.”

London, he said, is Bank of America’s “headquarters of the world”.

Mr Moynihan was upbeat about the prospects for the country too. “It’s more upside for the UK right now than anything else,” he said.

Bank of America is the second-largest bank in America with a market capitalisation of nearly $300bn – making it roughly 10 times bigger than Barclays, Lloyds and NatWest, and more than three times bigger than HSBC.

Having met with the King again on his latest trip to the UK, the CEO said, “his briefing and his knowledge and his passion… it not only impresses me, but I’ve seen it in front of so many people over the last six years. It impresses everybody”.

Mr Moynihan – one of the longest-serving Wall Street chief executives – has been leading Bank of America since 2010, when he was brought after the financial crisis.

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SoFi’s stock drops on $1.5 billion share sale announcement

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SoFi's stock drops on .5 billion share sale announcement

Anthony Noto, CEO of SoFi, speaking with CNBC at the annual Allen & Co. Media and Technology Conference in Sun Valley, Idaho on July 10th, 2025.

David A. Grogan | CNBC

SoFi shares fell almost 6% in extended trading Thursday after the fintech company announced a $1.5 billion stock offering.

The company, which provides online loans and other banking services, said in a press release that it will use the proceeds for “general corporate purposes, including but not limited to enhancing capital position, increasing optionality and enabling further efficiency of capital management, and funding incremental growth and business opportunities.”

The announced offering comes after SoFi’s market cap almost doubled so far in 2025. The stock price is up more than sixfold since the end of 2022.

A company’s share price often drops on a planned share sale as the offering dilutes the value of existing holders’ stakes.

In its third-quarter earnings release in late October, SoFi reported revenue growth of 38% from a year earlier to $961.6 million, while net income more than doubled to $139.4 million. The company reported cash and equivalents of $3.25 billion.

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The Kia EV5 is now on sale as one of Canada’s most affordable electric SUVs

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The Kia EV5 is now on sale as one of Canada's most affordable electric SUVs

Kia now has one of the most affordable electric SUVs in Canada. The EV5 is now on sale, starting at $43,495 CAD.

Kia opens EV5 orders in Canada

The EV5 is the electric SUV we want in the US, but we will likely never see it. After opening online orders on December 4, Kia revealed prices for the entire 2027 EV5 lineup.

Surprisingly, buyers can choose from nine trims, with prices ranging from $43,495 CAD for the base Light model to $61,495 CAD for the flagship AWD GT-Line Limited edition.

Outside of the Light trim, all EV5 variants are offered with front-wheel or all-wheel drive. Upgrading to AWD costs an extra $2,500 CAD.

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Likewise, all EV5 trims, except the Light variant, are powered by an 81.4 kWh battery, providing up to 460 km (285 miles) of driving range. The entry-level Light uses a 60.4 kWh battery, good for a driving range of up to 335 km (208 miles).

All EV5 models come with a built-in NACS port, nearly 30″ of screen space in a curved panoramic display, heated front seats, and Kia Connect with OTA updates.

The interior features Kia’s new Connect Car Navigation (CCNC) infotainment system with dual 12.3″ driver display and touchscreen navigation screens, plus a 5″ climate control screen. The setup includes wireless Android Auto and Apple CarPlay capabilities.

Kia grouped the EV5 trims into tiers based on what buyers are looking for. As expected, the Light FWD trim is the best value for your money.

For those looking for a little more driving range, the Wind FWD offers up to 460 km range, while the Wind AWD is built for Canada’s harsh winters. Both include a heat pump as standard.

Kia-EV5-prices-Canada
The Kia EV5 (Source: Kia)

2027 Kia EV5 prices and range by trim

Kia said the EV5 Land Rover trim is the best option if you’re looking for a little more out of the interior. The Land Rover trim adds a memory function to the driver’s seat, a heated steering wheel, a panoramic sunroof, a smart power tailgate, and 19″ wheels.

And then there’s the EV5 GT-Line, for those looking for added performance, a sporty new look inside and out, and driver-assistance features like lane-change assist.

2027 Kia EV5 trim Starting Price (CAD) (FWD/AWD) Battery Target Range (FWD/ AWD) Selling Points
Light traction $43,495 60.4 kWh 335 km Entry-level price, standard battery life
Wind $47,495 / $49,995 81.4 kWh 460 km / 415 km Long-life battery, heat pump
Land $49,995 / $52,495 81.4 kWh 460 km / 415 km Panoramic roof, smart tailgate, V2L
GT-Line $55,495 / $57,995 81.4 kWh 460 km / 410 km HDA2, FCA 2, ventilated seats, sporty style
GT-Line Limited $58,995 / $61,495 81.4 kWh 460 km / 410 km Head-up display, RSPA 2, Harman Kardon, digital key
Kia EV5 prices and range by trim in Canada

The EV5 is now available to order in Canada, outside of the entry-level FWD Light variant, which is scheduled for the fourth quarter of 2026.

Despite the wait, Kia claimed the 2027 EV5 is going on sale as “Canada’s most affordable electric SUV,” starting $43,495.

For those in the US, don’t get your hopes up. Kia said the EV5 will be sold exclusively in Canada for the North American market.

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