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Google is creating a separate unit for buying ads within its shopping service, Bloomberg reports. Google Shopping will remain a part of Google, but it will operate independently and sell ads based off of its own revenues. It will be treated in Europe the same way Google treats its "Other Bets" businesses all housed under Alphabet Inc., like Verily, Nest and Waymo.

Why it matters The move comes months after European antitrust officials slapped Google with a massive $2.7 billion fine for abusing its market dominance as a search engine to steer customers to its own Google Shopping platform. By separating the shopping unit, Google can avoid paying a penalty of up to 5% of its daily revenue while it appeals the decision.

In response to the fine, Google said it thinks the EU undervalues Google's shopping and search experience for consumers, arguing that its success doesn't mean it favors itself — "it's the result of hard work and constant innovation."

The bigger picture: As Axios has previously reported, the bigger concern for Google is that the EU regulators' aggressive measures will nudge U.S. counterparts to take a closer look at whether the dominant tech firms use their growing troves of data and increasingly sophisticated algorithms to skew competition more broadly. Smaller firms like Yelp and have spent several years lobbying the EU to act, as U.S. regulators have been reluctant to take on tech giants — though pressure is growing for them to take a more critical look.

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Breaking down the Tesla obsession

Illustration: Sarah Grillo/Axios

Tesla is the company of the moment — the prime exemplar of just about any big and important trend that you might care about.

Why it matters: Almost every reader of finance and business news will have at least one strongly-held opinion about Tesla. What you might not realize is just how widely those opinions range, and the degree to which they map onto much broader views of the world.

Gallup: Party preference swings dramatically in favor of Democrats

Photo: Jim Watson/AFP via Getty Images

Americans' political party preferences have swung sharply from a 2-point Republican advantage in January to an 11-point Democratic advantage in July, according to Gallup's monthly averages of telephone polls in 2020.

The big picture: The dramatic shift is more a product of fewer people identifying as Republican or Republican-leaning (down 8% since January) than gains among those who identify as Democratic or Democratic-leaning (up 5%).

Nancy Pelosi: "I yearn for other Republican presidents"

House Speaker Nancy Pelosi (D-Calif.) called on President Trump Thursday to exercise "the full power" of the Defense Production Act to meet coronavirus equipment needs and accused him of engaging in a "massive dereliction of duty" by ignoring science during the pandemic.

What she's saying: "I yearn for other Republican presidents," Pelosi said at a press conference. "While we may have disagreed on many points, but at least we had a shared commitment to the governance of our country."