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Google Fights To Prevent A Breakup Of Its Business

by THEFUTURE.TEAM

Google is fiercely lobbying US authorities to reconsider the plan to break up its parent company, Alphabet, as the tech giant braces for the potential fallout of antitrust actions.

Key Facts

Last week, representatives from Google met with officials from the Trump administration in an attempt to persuade the government to soften its stance on breaking up Alphabet’s business. This appeal comes in the wake of a significant antitrust case that began in August last year and is expected to culminate in rulings and decisions over the coming months. A federal judge is set to rule on how Google must change its business practices, with hearings scheduled for next month. Both sides will present their final proposals on Friday, and a decision is expected in August.

Kye Story

The US Department of Justice has filed two antitrust cases against Google: one focused on the search engine business and the other on its advertising operations. In October, it became evident that the government was considering forcing Google to divest major assets such as Chrome and Android—key components that help maintain its dominance in online search. Google has strongly objected to this, calling the demand “radical” and vowing to appeal, arguing that it “goes far beyond the legal issues in this case.”

What Are The Offers?

  1. Search Distribution: The government proposes limiting or eliminating default search agreements, pre-installations, and revenue-sharing deals. This would also involve separating Chrome, Play, and Android from Google and limiting its control over emerging technologies like AI.
  2. Data Access and Use: The plan calls for mandatory sharing of Google’s databases, algorithms, and AI models, alongside enhanced transparency requirements for search results and advertising ranking signals. It also proposes a ban on using personal, privacy-sensitive data.
  3. Search Monopoly: Google’s ability to use contracts that restrict competitors’ access to web content would be limited.
  4. Advertising Practices: Google would be required to restructure and refine its advertising tools, including those powered by AI.

The Big Number

$2.10 trillion – Alphabet’s market capitalization, making it the fifth-largest company globally, just behind Apple, Microsoft, Nvidia, and Amazon.

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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