Bloomberg

Facebook did something US technology giants have done countless times before: it bought a smaller company and closed the deal without notifying competition regulators. But this transaction -- the $400 million acquisition of image library Giphy -- was particularly bold. Giphy used a common -- and legal -- maneuver that lets companies avoid scrutiny from merger watchdogs: it paid a dividend to investors.

Under the Senate infrastructure bill, the National Telecommunications and Information Administration (NTIA) would distribute $42.5 billion in new broadband subsidies through grants to eligible states. Local authorities would then competitively award that money to broadband service and infrastructure providers.

Google and Facebook announced their participation in a new subsea cable system for 2024 set to improve internet connectivity across the Asia-Pacific region. Dubbed Apricot, the infrastructure project will link Japan, Singapore, Taiwan, Guam, the Philippines, and Indonesia and help serve growing demand for broadband access and 5G wireless connectivity.

The US Department of Justice (DOJ) has “grave concerns” about plans by T-Mobile to shut down the wireless network used by millions of Boost Mobile customers.