Good morning. Google avoided harsh antitrust penalties for its conduct in the U.S. search market, with a judge barring the company from entering into exclusive deals but rejecting a forced spinoff of its Chrome browser and other sweeping remedies sought by the Justice Department.

• Google scores a win: U.S. District Judge Amit P. Mehta in a Tuesday ruling said Google can’t pay to be the exclusive search engine on devices and browsers, but he allowed the company to continue making payments for distribution of its products, saying a prohibition on those agreements would harm recipients such as Apple. While Mehta’s earlier ruling was a blow to Google, Tuesday’s decision adopted much of the company’s position on what should happen now.
   
• Last year's ruling: Mehta’s order follows his ruling last year that Google illegally monopolized the search market for more than a decade. That opinion said Google used illegal distribution agreements with companies such as Apple to build and maintain a 90% market share and prevent rivals from developing competitive alternatives.
   
• Analysts on Tuesday's ruling: Wall Street analysts scored the ruling a huge win for Google and Apple since it allowed an existing arrangement to continue in which Google pays Apple more than $20 billion a year to be the default search provider on the Safari browser.

Also read: Google’s Big Win Is Even Bigger for Apple

More fentanyl shows up in random workplace tests.

More Americans are testing positive for fentanyl use in randomized workplace drug tests, highlighting a persistent challenge for employers.

The positive rate for urine tests indicating the presence of the synthetic opioid fentanyl was 1.13% in 2024. That is up from 0.91% in 2023 and double the rate in 2020, according to a recent analysis of more than eight million drug tests by Quest Diagnostics, one of the U.S.’s largest drug-testing labs.

Businesses face more data-breach lawsuits than ever.

A growing number of personal injury lawyers are adding data-breach lawsuits to caseloads, alongside traffic accidents, medical malpractice and dog bites. 

The upswing is being fueled by a surge in cyberattacks, as hackers become more sophisticated at breaking into business systems with an ever-increasing cache of customer data. Driven by the rise of AI-powered phishing attacks, U.S. companies reported over 1,700 data breaches in the first half of 2025, more than double the full-year number of breaches reported in 2024, according to the Identity Theft Resource Center. So far this year, companies have issued more than 165 million individual victim notifications, the nonprofit research firm said.

• Companies should step up efforts to comply with U.S. export control laws, even if the much-anticipated 50% rule from U.S. law enforcers doesn’t materialize, experts told Risk Journal’s Richard Vanderford and Max Fillion. 
   
• Nestlé Chief Executive Laurent Freixe’s downfall started with an anonymous tip to an internal hotline called “Speak Up.”
   
• The U.S. Treasury Department placed sanctions on businessman Waleed al-Samarra’i for allegedly using his companies to smuggle Iranian oil.

AI-powered drone swarms have now entered the battlefield.

On a recent evening, a trio of Ukrainian drones flew under the cover of darkness to a Russian position and decided among themselves exactly when to strike.

The assault was an example of how Ukraine is using artificial intelligence to allow groups of drones to coordinate with each other to attack Russian positions, an innovative technology that heralds the future of battle.

Military experts say the so-called swarm technology represents the next frontier for drone warfare because of its potential to allow tens or even thousands of drones—or swarms—to be deployed at once to overwhelm the defenses of a target, be that a city or an individual military asset.

• Following talks in Beijing between Russian President Vladimir Putin and Chinese leader Xi Jinping, Moscow said the two sides had signed a legally binding memorandum to build the Power of Siberia 2 pipeline, a flagship project that would boost Russia’s gas deliveries to China and tighten ties between the two countries as their relations with the U.S. worsen.
   
• The Trump administration will ask the Supreme Court to swiftly overturn an appeals court ruling against most of his tariffs, President Trump said on Tuesday.
   
• In a joint letter to the United Nations leadership China, Iran and Russia denounced the European attempt to reimpose U.N. sanctions on Tehran as “inherently flawed, both legally and procedurally,” escalating diplomatic tensions over triggering the so-called snapback mechanism, reports Risk Journal. 
   
• The European Commission will push ahead with a long-awaited trade agreement with several South American countries on Wednesday, a spokesperson said, as officials in Brussels race to secure trade deals while tensions with the U.S. mount.

• A federal judge on Tuesday ruled that the Trump administration’s deployment of troops to Los Angeles in response to protests over immigration policies violated a 19th-century law prohibiting the use of federal forces for domestic law enforcement.
   
• Disparate factions at the Department of Health and Human Services are sparring over some of RFK Jr.’s biggest priorities.
   
• The National Football League is throwing a penalty flag at Nielsen, the leading audience-measurement company.
   
• Vogue named Chloe Malle its new head of editorial content for Vogue U.S., ushering in a new era for the influential fashion magazine after decades under Anna Wintour.
   
• After more than a decade together at Kraft Heinz, ketchup is breaking up with hot dogs.

Follow us on X at @WSJRisk. Send tips to our reporters Max Fillion at max.fillion@dowjones.com, Mengqi Sun at mengqi.sun@wsj.com and Richard Vanderford at richard.vanderford@wsj.com.

You can also reach us by replying to any newsletter, or by emailing our editor David Smagalla at david.smagalla@wsj.com.