“Rising Tide Lifts All Boat “ — unknown.

1. Google Should Be Forced to Sell Chrome Browser, Justice Department Says — The Justice Department on Wednesday said Google should have to sell off its popular Chrome browser as part of a court-ordered fix to its monopolization of the online search market. The request follows the government’s victory this year in an antitrust case against Google and is likely to kick off a heightened legal fight with wide-reaching implications for the tech giant’s core business.
Government lawyers said competition can only be restored if Google separates its search engine from products it has built to access the internet, such as Chrome and its Android mobile operating system. Chrome controls about two-thirds of the global browser market, according to the website Statcounter. Searches in the Chrome address bar go through Google unless a user changes the settings.
2. Indian Billionaire Gautam Adani Charged in $250 Million Bribery Scheme — Prosecutors announced a 54-page indictment Wednesday that alleges Adani, the chairman of the Adani Group, personally met with Indian officials to advance the illicit deal and secure contracts worth billions of dollars for a renewable-energy company owned by the conglomerate. Prosecutors also alleged that Gautam Adani, 62 years old, and two Adani Green Energy executives conspired to misrepresent the renewable-energy firm’s antibribery and corruption practices to U.S. investors and financial institutions to obtain financing. In total, eight executives were charged in the scheme. None of the defendants have been arrested and are believed to be at large overseas, according to a spokeswoman for the Brooklyn U.S. attorney’s office, which brought the case. One of the defendants is Sagar Adani, Gautam Adani’s nephew who oversees the Adani Group’s renewable-energy businesses.
3. Home Sales Rose in October Following Decline in Mortgage Rates — The average rate for a 30-year fixed mortgage slid throughout the summer and reached a two-year low in late September, according to Freddie Mac. Lower rates lured some home buyers off the sidelines and sparked some hope among real-estate agents that a boost in activity during the fall could salvage another slow year for sales activity. U.S. existing-home sales in October rose 3.4% from the prior month to a seasonally adjusted annual rate of 3.96 million, the National Association of Realtors said Thursday. Economists surveyed by The Wall Street Journal had estimated a monthly increase of 2.9%.
4. U.S. Private-Sector Activity Picks Up Pace as Firms Look Forward to a New Government — The S&P Global Flash U.S. Composite PMI—which gauges activity in the manufacturing and services sectors—rose to 55.3 in November from 54.1 in October, according to the surveys published Friday. That accelerates a previously climbing trend and suggests activity is expanding at its fastest rate in some two and a half years. Demand increased sharply over the month and companies set out a brighter view of their output as interest rates fall and expectations mount of more supportive business policies from Trump’s administration when it moves into the White House in January. The services sector continued to be the sole engine of growth, but the manufacturing industry contracted at its slowest rate in four months, suggesting a recovery could be on the cards in the months ahead. Manufacturing sentiment reached its most positive point for more than two and a half years, the surveys showed.

The week ahead — Economic data from Econoday.com:

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