Good morning. Google’s power in the digital economy is facing another major legal test in a case targeting its role as a gatekeeper on billions of mobile devices.

• The case: A group of jurors heard opening arguments from Fortnite-maker Epic Games that Google used its dominant position to squeeze excess profits from app developers, as well as the search giant’s response to those allegations. The case forms the second part of Epic’s attack on the two largest mobile software providers after the game developer went up against Apple in a 2021 courtroom battle.
   
• Keeping lawyers occupied: The trial, expected to stretch into December, adds to Google’s busy legal docket as it also fights a landmark antitrust case challenging its dominant search engine. Both lawsuits take aim at agreements Google struck with manufacturers of mobile phones running on Android, the most widely used mobile software system in the world.
   
• DOJ case: Google also faces a Justice Department lawsuit targeting its advertising technology business that is expected to go to trial next year, allegations that Google also denies.
   
• Why it's important: Google’s parent company Alphabet brings in a relatively small amount of revenue from the Play Store, the app marketplace targeted by Epic. But the app store is also an important component in a package of services licensed to the manufacturers of Android-powered phones, a major entry point for Google’s search engine.

Singapore’s DBS takes a hit from money-laundering affair.

Singapore’s largest bank, DBS, is financially exposed to the tune of around S$100 million (US$73.8 million) to a recent money-laundering scandal in the city-state, its chief executive said Monday.

Piyush Gupta said at a press briefing that the bank had financed property purchases by individuals or companies that are being investigated by Singapore authorities. Police in August arrested 10 foreign nationals on charges including fraud and money laundering.

DBS is one of the several domestic and international banks that have connections with the suspects in the case. Since the mid-August raids, Singapore police have seized or frozen more than US$2 billion worth of assets, including properties, gold bars and jewelry.

U.S. Treasury fines daVinci Payments for alleged sanctions violations.

Prepaid rewards card provider daVinci Payments has agreed to pay about $206,213 to settle allegations it enabled reward cards to be redeemed by individuals living in or associated with sanctioned jurisdictions, including Syria and Iran, the U.S. Treasury Department said Monday.

The Buffalo Grove, Ill.-based company, now known as Onbe, processed more than 12,000 redemptions worth nearly $550,000 for cardholders apparently located in sanctioned jurisdictions between 2017 and 2022, according to the settlement agreement. A spokesman for Onbe didn’t immediately respond to a request for comment.

• Ernst & Young is stepping up its U.S. governance overhaul efforts, a bid to give partners there a greater voice in firm strategy, following the failed separation of its audit and advisory businesses earlier this year.
   
• Former President Donald Trump offered a defiant defense of his business empire in sworn testimony Monday, trading jabs during his civil fraud trial with a New York judge who repeatedly rebuked him for veering off on tangents.
   
• Senators are taking fresh aim at legacy and donor preferences for admission to college, as advantages given to certain students and groups come under increasing scrutiny following a recent Supreme Court ruling striking down the use of race in college admissions.
   
• For more than a decade, China has resisted impassioned requests to release a Texan imprisoned under murky and unusual circumstances, Mark Swidan. His case speaks to how the U.S., like other Western powers, has limited leverage in its efforts on behalf of citizens it says are arbitrarily detained in China’s opaque justice system.

Banks urged to look beyond Russia for export control violations.

Banks and other financial institutions should be on the lookout for efforts to evade U.S. export controls beyond those related to Russia’s invasion of Ukraine, the Biden administration said Monday.

The U.S. Treasury Department’s Financial Crimes Enforcement Network and the Commerce Department’s Bureau of Industry and Security said in a notice that institutions should be on alert for red flags of export control evasion, such as last-minute changes in payment routing or atypical shipping routes.

Following Russia’s 2022 invasion of Ukraine, the administration has in particular emphasized export controls aimed at hobbling Russia’s war machine. In Monday’s announcement, however, the administration said banks should be guarding against export control violations worldwide.

The notice includes a new reporting code that financial institutions can use when reporting possible export control violations that take place outside the Russia-Ukraine context.

–Richard Vanderford

The new headache for bosses: employees aren’t quitting.

The white-collar labor market is softening to a point that companies are encountering an issue that would have been unthinkable in the era known as the Great Resignation. These days, too few people are voluntarily leaving their jobs.

Turnover has declined so steeply at some large employers that companies now find themselves over budget on certain teams, requiring leaders to weigh whether to postpone projects or to cut additional staff as the end of year approaches. Other bosses worry about how to keep star employees engaged when there are far fewer vacant positions internally, making it harder to move people into new roles.

U.S. plans $320 million weapons transfer to Israel as Gaza toll mounts.

The Biden administration is planning a $320 million transfer of precision bombs for Israel, arranging a major weapons deal as President Biden and senior officials press Israel to do more to protect civilians in its military campaign in Gaza.

The administration sent formal notification on Oct. 31 to congressional leaders of the planned transfer of Spice Family Gliding Bomb Assemblies, a type of precision-guided weapon fired by warplanes, according to correspondence viewed by The Wall Street Journal.

• Israel Deepens Push Into Gaza City
• U.S. Diplomats Press Israel to Pause Gaza Assault
• Netanyahu Says Israel Will Control Gaza Security Indefinitely

• The U.S. and its NATO allies served notice Tuesday that they will formally suspend their participation in a 1990 treaty limiting conventional forces in Europe, marking the demise of another landmark arms control agreement.
   
• Tesla is boosting factory worker pay in Germany amid an aggressive unionization drive, a move that comes as Chief Executive Elon Musk may face similar organizing attempts in the U.S.
   
• A top Federal Reserve official said he would err on the side of overtightening monetary policy rather than not doing enough to bring inflation down to the central bank’s 2% target.
   
• U.S. banks have found a new way to unload risk as they scramble to adapt to tighter regulations and rising interest rates.
   
• Cities hoping to convert emptying office buildings into apartments are running into financing issues, stagnating rental markets and other challenges that are bottling up their efforts.
   
• China’s exports fell for the sixth straight month, adding to pressure on Beijing to boost spending at home as a big rise in global interest rates and wars in Ukraine and the Middle East weigh on the world economy.
   
• WSJ Pro Cybersecurity asked WSJ readers: How will the case against SolarWinds affect the discussion of cybersecurity risk within corporate walls? Should chief information security officers be worried about personal liability related to cyberattacks on their watch?

• More decisions are being made by machines. What should those affected be told? Readers weigh in.

• WeWork filed for bankruptcy, capping the flexible-office-space venture’s remarkable collapse after once being the nation’s most valuable startup.
   
• Intel is the leading candidate to potentially receive billions of dollars in government funding for secure facilities producing microchips for U.S. military and intelligence applications.
   
• When Xi Jinping celebrated a decade of Beijing-funded global development last month, he said the effort has focused on “enhancing connectivity.” New figures show just how closely China has linked itself to other nations.
   
• A group of Senate Republicans are demanding a crackdown on asylum claims at the southern border and other policy changes as a condition for backing President Biden’s $106 billion request for supplemental funding for Israel and Ukraine.
   
• The two parties are heading into neck-and-neck races next year to control all three levers of elected power in Washington—the House, the Senate and the presidency.
   

Follow us on X at @WSJRisk. Follow Risk & Compliance editor David Smagalla @DSmagalla_DJ and reporters Mengqi Sun @_MengqiSun, Dylan Tokar @dgtokar and Richard Vanderford @VanderfordRich.

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