What happened: On Sunday, the New York Times reported that Samsung was considering replacing Google’s Search with Microsoft’s Bing as its default search engine on its devices. According to sources, Google reacted to the information with panic. Google earns about $3B in annual revenue from its agreement with Samsung. Why it matters: Google Search has dominated the search engine business for decades and accounts for a significant chunk of the tech giant’s total revenue. In 2022, Google earned $279.8B in total revenue, of which its Search business accounted for $162.5B or nearly 60% of the total. Microsoft’s new Bing search engine, with its artificial intelligence features, is considered by some as a real threat to Google’s search dominance. Where to see the impact: Google has announced it plans to bring more AI-powered features to its search platform. Currently, Google handles about 90% of global search-engine queries. Following the New York Times report, shares of Google’s parent company, Alphabet, fell more than 3.5%. It closed at $105.97 on Monday, down ~2.7% for the day. Alphabet is up ~19% YTD.
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Elon Musk’s SpaceX postponed the first orbital launch of its Starship rocket, citing an issue with the pressurization system in the Super Heavy booster. The company said it would be at least 48 hours before it makes another launch attempt. More: - Last week, the FAA granted SpaceX a Starship launch license, clearing the company to attempt the first orbital launch of its super rocket.
- SpaceX planned to launch the rocket on Monday, April 17, but called off the launch with about 15 minutes left in the countdown.
- The FAA’s license is valid for five years.
- SpaceX’s Starship stands at 119 meters or 390 feet; it is the tallest and most powerful rocket ever built and is intended to be fully reusable.
- In a private Twitter space on Sunday evening, Musk said success for the planned Starship launch would be gathering data, even if the first orbital launch isn’t successful.
- SpaceX had originally planned to conduct its first Starship orbital launch in summer 2021; however, various delays pushed the timeline back.
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The trial for Dominion Voting Systems’ $1.6B civil defamation lawsuit against Fox News has been delayed by a day. Dominion, which sells voting machines and election software, is suing Fox claiming the news network aired false statements that the company had rigged the 2020 election against former President Donald Trump. More: - Fox claims that Dominion has not met the legal standard for defamation and that the statements made on its network about Dominion are protected by the First Amendment.
- News of the trial delay comes following reports that Fox and Dominion are meeting to discuss a possible settlement.
- The trial was set to begin on Monday morning with jury selection and the start of opening statements.
- In a brief hearing in Delaware Superior Court, Judge Eric Davis postponed the trial to begin on Tuesday.
- The trial is expected to last up to six weeks.
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Apple launched its Apple Card savings account on Monday, offering a 4.15% annual percentage yield, which is more than 10 times the average U.S. savings account rate. Users can open an account directly from Apple’s Wallet app on their iPhones. More: - The new service is available to Apple’s credit card customers.
- The tech giant is also partnering with Goldman Sachs to provide the new service.
- Deposits will sit with Goldman, which as a licensed bank has access to FDIC insurance.
- Apple’s new savings account does not require any minimum deposit or balance.
- The new savings account adds to Apple’s growing payments and financial services.
- Last month, Apple launched its “buy now, pay later” service called Apple Pay Later.
- According to the FDIC, customers have withdrawn more than $800B in deposits from U.S. commercial banks since March 2022, when the Federal Reserve began raising rates.
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David’s Bridal, the largest wedding dress retailer in the U.S., filed for Chapter 11 bankruptcy on Monday and said it is seeking a buyer for its business. This is the company’s second bankruptcy filing in five years. More: - David’s Bridal pointed to the impact of the COVID-19 pandemic on its business, along with a decreased demand for wedding dresses and high inflation.
- The company said it plans to fulfill all customer orders without disruption or delay but would be forced to shut down its operations if it is unable to find a buyer.
- David’s Bridal has about 294 stores and 10,000 employees.
- The company is looking to borrow up to $10M for critical vendor invoices, employee severance, and other near-term costs.
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General Motors is removing Apple’s CarPlay app and a similar version made by Google, Android Auto, for Android devices, from its vehicles. The apps allow users to use their phones through the vehicle’s multimedia display. GM said it is developing its own software. More: - GM said its new software offers more built-in functionality than drivers currently get through smartphone connections.
- GM is using Google’s underlying technology for its new software.
- The move mirrors those of Tesla and other EV manufacturers that offer native built-in software for their vehicles.
- GM CFO Paul Jacobson said the company’s new software would offer a more personalized experience for its drivers, and the touch-screen interface will be customized with GM’s branded look and features.
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- Protesters in Missouri have called for justice for a Black teenager who was shot by a white homeowner after the boy rang the doorbell of the wrong residence to pick up his brothers.
- Florida Governor Ron DeSantis said the state’s legislature would revoke a development agreement Disney struck with outgoing members of an oversight board. DeSantis said a new bill would return control of the special district that is home to Disney World to a state oversight board run by the governor’s appointees.
- Supreme Court Justice Clarence Thomas reported on financial disclosure forms that his family received between $50,000 and $100,000 annually in rental income from a Nebraska real estate firm called Ginger, Ltd., Partnership, that has been closed since 2006.
- About 100 people have been killed and hundreds injured in Sudan since Saturday as the country’s military fights a rival paramilitary group Rapid Support Forces.
- According to the U.S. Customs and Border Protection, federal officials have seized $961M worth of goods since June over suspected ties to forced labor.
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 |  | Vanessa Omeokachie writes the daily Inside Business newsletter. Her interests include finance, technology, and entrepreneurship. In her free time, she enjoys reading, hiking, attending concerts and music festivals, traveling, and exploring. Connect with her on Twitter @VanessaOmeo or on LinkedIn. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
Surgery won’t look the same in 10 years – invest in Monogram, the robots pioneering more precise procedures. | |
