Google has announced plans to appeal a U.S. court ruling that found it guilty of maintaining an illegal monopoly in the online search market, a decision that threatens to upend the company’s dominance in the digital economy.

The appeal comes amid intensifying legal and regulatory challenges confronting the tech giant across several fronts, as it seeks to protect its business model and the powerful grip it holds over the internet’s most lucrative entry points.

In a post on X on Saturday, Google said it “still strongly believes the Court’s original decision was wrong” and expressed confidence in overturning the ruling on appeal. The statement follows a Friday hearing where the Justice Department laid out proposed remedies that would reshape how Google operates—chief among them a call to break off its Chrome browser and prohibit exclusivity deals that keep Google Search as the default on devices.

The landmark case, which began in 2020 and culminated in a ruling in August 2024 by U.S. District Judge Amit Mehta, concluded that Google’s tactics to secure search dominance—such as paying billions to phone manufacturers and browser developers—constituted unlawful monopolization. The ruling marked one of the most significant antitrust victories against a tech company since the Microsoft case over two decades ago.

But the Justice Department is not stopping at a legal win. It is pressing for structural remedies that would significantly curb Google’s control of the search and browser markets. These include forcing Google to divest from Chrome, banning exclusive deals with smartphone makers, and compelling the company to share data that powers its search engine—data it gathers through users of Chrome and Android.

In response, Google has argued that the DOJ’s proposals are overreaching and lack justification grounded in consumer welfare.

“While we heard a lot about how the remedies would help various well-funded competitors (with repeated references to Bing), we heard very little about how all this helps consumers,” the company said on Saturday.

Google has instead proposed what it calls “targeted” remedies. These would allow smartphone manufacturers to pre-install the Google Play Store without being required to include Google Search or Chrome. The company insists that its services are chosen because of their quality, not because of coercive arrangements.

The trial also explored how Google’s dominance could affect future developments in artificial intelligence. Judge Mehta acknowledged that while Google currently leads in online search, AI is emerging as a disruptive force. However, the Justice Department has raised alarms that Google’s existing dominance may allow it to extend that control into the AI space as well, stifling potential rivals before they gain traction.

Google is not only under fire in the United States. Similar legal scrutiny is playing out globally, from the European Union to India, where regulators are increasingly challenging Google’s bundling of services, its ad-tech practices, and the sheer scale of user data it commands.

In Europe, the company has already been fined billions for anti-competitive behavior involving Android and shopping search features. In India, the competition regulator has ordered Google to decouple its mobile apps from Android, echoing concerns raised in the U.S. case.

Despite the mounting legal pressure, Google remains defiant and determined to preserve its sprawling ecosystem, which includes not just Search and Chrome, but Android, YouTube, and the Google Play Store. The company has maintained that any forced break-up would undermine the seamless integration users value, and instead of fostering competition, could damage innovation and consumer experience.

A final decision on the penalties and remedies in the U.S. case is expected by August. But regardless of the outcome, the case signals a shift in how governments confront Big Tech. The stakes have never been higher for Google— the giant, not only must convince the courts but must also fend off a rising tide of global regulators eager to curtail its dominance.

Global credit ratings agency Moody’s has upgraded Nigeria’s long-term foreign currency rating from Caa1 to B3, citing meaningful improvements in the country’s external and fiscal positions following key macroeconomic reforms introduced under President Tinubu’s administration.

The outlook has been adjusted from “positive” to “stable,” signaling renewed global confidence in Nigeria’s economic direction but also a cautious view on the pace of progress ahead.

The upgrade, announced late Thursday, follows similar sentiment expressed by Fitch Ratings in April, which moved Nigeria’s outlook from “negative” to “stable.” Both agencies point to recent fiscal discipline and overhauls in foreign exchange management as pivotal to Nigeria’s improved credit standing.

“The recent overhaul of Nigeria’s foreign exchange management framework has markedly improved the balance of payments and bolstered the CBN’s foreign exchange reserves,” Moody’s noted in its statement.

The Central Bank of Nigeria (CBN) introduced sweeping changes in 2024, including a new FX matching platform and FX code to facilitate price discovery and reduce volatility in the official exchange window. This came after a 40 percent depreciation of the naira in 2023, which sparked fears of an unstable macroeconomic environment. However, the reforms have significantly narrowed the gap between the official and parallel market rates and restored investor confidence in FX liquidity.

Although the rating has improved, Moody’s revised the outlook to “stable” from “positive,” reflecting concerns that the current momentum might not be sustained at the same pace — especially if global oil prices, a key revenue source for Nigeria, decline sharply.

“The stable outlook reflects our expectations that external and fiscal improvements will decelerate but will not reverse entirely,” the agency said.

Moody’s also emphasized that continued success will depend on Nigeria’s ability to sustain gains made so far and protect its fiscal discipline against political and global market headwinds.

Key Drivers Behind the Upgrade

A combination of inflation control, better fiscal management, and improved investor sentiment has helped shift the narrative around Africa’s largest economy. Moody’s cited Nigeria’s steps to stabilize borrowing costs and reduce inflationary risks — despite the economic hardship caused by earlier reforms such as fuel subsidy removal and deficit monetization.

This sentiment echoes Fitch’s earlier report that praised the Tinubu administration’s market-oriented approach. Reforms such as exchange rate liberalization, tighter monetary policy, and the halting of central bank financing of budget deficits have been credited for reducing economic distortions and enhancing the country’s resilience to external shocks.

“We are seeing clear signs of increased commitment to market-based reforms under President Tinubu’s administration,” Fitch noted in April. “While challenges remain, Nigeria’s trajectory has shifted toward stability and greater investor confidence.”

The World Bank has also taken note of Nigeria’s rebound, reporting that the country posted its fastest growth in nearly a decade in 2024. The acceleration was driven by a strong fourth-quarter economic expansion, underpinned by improved oil production, stronger fiscal management, and greater policy transparency.

Inflation Still a Major Risk

Despite the positive outlook, analysts warn that inflation remains a serious concern. Food prices continue to soar and wage growth has not kept up, threatening to undo recent gains if not addressed with targeted and sustained policy interventions. The CBN is under pressure to balance interest rates with measures that promote real sector growth without reigniting inflationary pressures.

Tesla’s sales problems have taken a sharp turn in Canada, with new data showing an over 85% collapse in vehicle registrations in Quebec in the first quarter of 2025—a dramatic reversal for what has been one of the province’s most popular EV brands.

Between January and March, just 524 new Tesla vehicles were registered in Quebec, a sharp plunge from the 5,097 units recorded in the last quarter of 2024. The Model Y, Tesla’s flagship SUV and global bestseller, accounted for the largest drop—falling from 3,274 units to 360. Meanwhile, the Model 3, Tesla’s entry-level sedan, nosedived by 94%, with just 96 units registered.

While auto sales tend to taper off in the first quarter of any year, the scale of Tesla’s decline in Quebec points to problems far beyond seasonal norms. The crash in numbers aligns with similar declines in European markets, where Tesla’s sales fell nearly 50% in April, even as EV demand rose across the board.

In both regions, industry analysts suggest the issue is no longer the market but the brand itself.

In China—Tesla’s second-largest market after the United States—the company has been steadily losing ground to domestic EV manufacturers like BYD, Nio, and Li Auto. BYD, in particular, overtook Tesla in global EV sales at the end of 2023 and has continued to extend its lead in 2024 and 2025.

Chinese carmakers, buoyed by government support and lower production costs, are offering better range and pricing, undercutting Tesla in a market where affordability and nationalism now drive consumer decisions. Tesla has also had to reduce production at its Shanghai Gigafactory due to sluggish local demand and intensified competition.

Rebate Freeze and Trade Fallout

At the heart of Tesla’s troubles in Canada is a sweeping rebate freeze imposed by the federal government. Transport Minister Chrystia Freeland halted all federal EV rebates to Tesla buyers in March after a sudden surge in claims, from an average of 300 to nearly 5,800 per day, raised red flags over possible manipulation or bulk-buying schemes.

Freeland also confirmed that Tesla will be excluded from future incentives for as long as U.S. President Donald Trump’s 25% tariffs on Canadian goods remain in place. Tesla, being an American manufacturer, is caught squarely in the crossfire of the escalating trade tensions between Ottawa and Washington.

Adding to the blow, several provinces—British Columbia, Prince Edward Island, and Manitoba—have also delisted Tesla vehicles from their local EV incentive programs, effectively stripping the brand of much of its affordability appeal in key Canadian markets.

Now, Tesla’s crisis has spread to Canada, right on the doorstep of the United States, where it remains the dominant EV maker. The sharp decline in Quebec, Tesla’s most robust Canadian market, marks a significant erosion of its North American stronghold.

Brand Trouble From Musk’s Politics

Tesla’s fall in Quebec isn’t just economic—it’s political. The company is navigating a growing global backlash fueled by its controversial CEO Elon Musk. His public endorsements of European far-right parties, including Germany’s AfD and Britain’s Reform UK, have alienated many progressive-leaning buyers, especially in regions like Quebec where liberal politics dominate.

In North America, Musk’s brief tenure as head of the U.S. Department of Government Efficiency (DOGE) has further stirred controversy. Though he announced last month that he was stepping down from the role—citing the federal law that limits government service for “special employees” to 130 days per year—Tesla dealerships across a dozen U.S. states had already been targeted by protestors and vandalized during his stint.

Musk’s heavy involvement in U.S. politics, including nearly $300 million in donations during the 2024 presidential race, has not only put him at the center of partisan fights but is increasingly seen as a liability for Tesla’s global consumer brand.

Turning the Page?

Tesla shares began to rebound in April after Musk announced he would step back from political engagements and “spend 24/7 at work” on his businesses. In recent interviews—including one with Bloomberg at the Qatar Economic Forum—he signaled that his days of bankrolling U.S. politics are behind him, calling his 2024 spending spree a “mistake.”

But reversing the damage may take more than a few press statements. With rebates frozen, regulatory scrutiny rising, and brand sentiment dipping in regions where Tesla once thrived, the company faces a tough road to win back both governments and consumers.

However, some analysts and investors believe Tesla’s fundamentals remain strong and that the current troubles are temporary. The company has a vast charging infrastructure, a technological lead in battery software, and an expanding footprint in energy storage and AI. But confidence hinges on one variable: Elon Musk’s ability and willingness to step away from politics.

In other words, Tesla’s rebound will depend not only on correcting its sales figures but also on restoring its image with customers disillusioned by politics.