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The threat level rose for Big Tech in Washington over the weekend, as U.S. antitrust regulators reportedly took steps toward greater scrutiny for Google and Amazon.

Why it matters: These moves could set the table for the kind of long-running antitrust cases that can sap company resources, result in embarrassing legal discovery and depositions, and, in the most extreme scenarios, lead to corporate breakups.

Details:

  1. The Justice Department and Federal Trade Commission have agreed to split up efforts to investigate charges of monopolistic practices by Google and Amazon. DOJ got Google, FTC got Amazon, per the Washington Post and Bloomberg.
  2. DOJ is preparing to launch an investigation into some of Google's practices, per the Wall Street Journal.

Between the lines: It's not uncommon for the agencies to negotiate over who gets to vet which companies and markets, and the move might be a sign of real interest in pursuing the two firms.

  • The FTC had already signaled its intention to look at tech giants with a new task force. What's new is its claim over Amazon.

Yes, but: Claiming the jurisdiction to investigate a company or launching an investigation remains multiple steps away from filing an actual antitrust lawsuit.

The bottom line: There are already numerous investigations into Big Tech, and hundreds of lawmakers are grappling with how to regulate it around the world. A U.S. antitrust case against either Google or Amazon would nonetheless be game changing — if it materializes.

Go deeper

Updated 2 hours ago - Sports

Olympics dashboard

Katie Ledecky in Tokyo. Photo: Ding Xu/Xinhua via Getty Images

🚨: Simone Biles won't compete in individual vault or uneven bars

🏊‍♀️: Katie Ledecky wins gold in women's 800m freestyle

🏊: Caeleb Dressel breaks world record in men's 100m butterfly, 3rd gold

🇬🇧: Britain wins gold in first-ever Olympic mixed 4x100m medley relay

🎾: Novak Djokovic defeated in Olympic semi-finals

💻: Japan tests teleporting games and "remote cheering"

Go deeper: Full Axios coverage

Updated 3 hours ago - Sports

Simone Biles won't compete in individual vault or uneven bars Olympic finals

Photo: Loic Venance/AFP via Getty Images

Simone Biles will not compete in the individual vault or uneven bars finals at the Tokyo Olympics, USA Gymnastics announced Friday.

Why it matters: USA Gymnastics said Biles, who previously withdrew from the individual all-around and team finals to prioritize her mental health, will continue to be evaluated to determine if she'll compete in the balance beam or floor exercise events.

3 hours ago - Sports

American Katie Ledecky wins Olympic gold in women's 800m freestyle

USA's Katie Ledecky reacts after taking gold in the final of the women's 800m freestyle race. Photo: Odd Anderson/AFP via Getty Images

American superstar swimmer Katie Ledecky grabbed her second gold medal of this year's Olympic Games, winning the women's 800-meter freestyle race Saturday in Tokyo.

Driving the news: Ledecky, who holds the world record in the 800m freestyle, is considered one of the best women swimmers of all time. Saturday's final marks her third straight Olympic gold in the event.

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