40 Burst results for "Trade Commission"
Fresh update on "trade commission" discussed on Bloomberg Surveillance
"So as away from the up and down equities positive a half of 1% on the S&P and the NASDAQ, we look a little something like this, positive as well by 72 points up by 6 tenths of 1%. Next up for this market, PPI and about 60 minutes from now, then on to next week's CPI coming up on Tuesday, the Federal Reserve decision on Wednesday. And then on Thursday, I believe it's the ECB and the Bank of England. Big week coming up for the bond market then two tens and 30s look a little something like this. We've had the debate the whole week haven't we about where treasuries are going. Four 75 of your Wells Fargo. That's how high we could go two 50. That's how low we could go if you're HSBC. Somewhere in between right now, Lisa, you're ten year three 48, 15. Yeah, Apollo's tourists thought putting out that one serious shift in narrative right now on Wall Street has been toward this idea that perhaps we have a better sense of where yields are going to go of where rates are going to go, do we though? I mean, that's my question. You know, the one thing the tourist has been great on, just to talk about the difference in the sequencing between Europe and the United States. And I keep going back I refer back to that interview all the time and I've rewatched it a few times as well. He said that in the United States we get in this story of inflation rolling over before growth collapses and in Europe it's kindly the other way around. We've got this story of growth getting hit hard, potentially even more so in the months to come, depending on what happens for the energy story, of course, before inflation really receipts. And that difference between Europe and the United States, I think speaks volumes about the tricky position, the ECBs in relative to the Federal Reserve and it's next year. And it really raises questions around one consensus, which is that Europe can perform better next year. And some people are even saying it can outperform. So it raises some questions there. I do want to just bring attention to a number of names evidently people aren't buying men suits from Lululemon just like John farrow. Actually, they are, but not as much as perhaps people are thinking Lululemon shares are falling ahead of the open about 7%. After reporting, lower than expected profitability results yesterday as well as an increase in inventory. This has been a big issue and it really has been playing into the goods disinflation that we keep seeing. DocuSign, which is that online secure contract mechanism is surging more than 11% after reporting better than expected earnings and Activision Blizzard. I'm really interested in this story. The Federal Trade Commission is looking into potentially blocking Microsoft's purchase of Activision Blizzard because they don't want Microsoft to get too big in the gaming sphere. It really is probably the first time that I've seen a major push from the antitrust wing to this degree in a while, especially considering that Microsoft would become number three in the whole gaming world if they were to make this. I think some people also thought Microsoft ironically considering where they were 20 years ago, a immune to this kind of stuff relative to the rest of the tech world. They are actually probably pointed at is the least offender compared to, for example, at Google. That has rolled up a lot of different smaller competitors, as well as Amazon. But it's just sort of interesting to see what they're going after. And is this sort of a first shot before a more protracted kind of effort. Though I have to say when it comes to my Zuckerberg, then we all like thrown mud at meta. I've done it many times on this program. You've done the same thing, Tom has as well. I remember the mornings that you made some of those acquisitions. I remember being in London whenever there was Instagram or WhatsApp. And I remember sitting there and thinking, what is this price? This seems absolutely ridiculous. And I think we all sat there and thought the same thing that he was overpaying for all of the stuff that he was buying. And then it transpired over the years subsequently that those assets were worth multiples of what he ultimately pay for them. And I think that's the difference. It's easy looking back at hindsight, with hindsight and saying that the acquisitions that meta made the roll ups there are things like Instagram, like WhatsApp, rent is competitive, he was bank competitors blah, blah, blah. But I still remember that people thought at the time that he was overpaying for those assets that they weren't that important that he was paying too much money for them. And here we are ten years later and everyone's saying it should never have happened, shouldn't have been allowed blah blah blah, which should unwind them. But it's a difficulty of understanding the popularity factor in social media. What does it mean to be dominant? And you see a lot of, for example, Apple, or Google, sucking up a bunch of these smaller competitors. Again, at prices that perhaps people think is expensive, but are they getting ahead of some of the technology that will become the hot new thing later on? I just don't remember them making a complaint at a time. And shouldn't a CEO be rewarded for making a really good judgment about a future in anticipating where things are going and buying things ahead of time for that reason. Simply rewarded for that. Some people would claim that the antitrust unit really turned a blind eye early on and wasn't that aggressive in getting in and raising some of these questions at that point. So price is one thing. Sucking up a number of competitors is quite another. And I'm not here to lobby for meta. Who are you? Let's be clear about that. Futures right now on the S&P positive a half of 1% looking ahead to next week. It's Kathy Jones. Chief fixed income strategist, the chas. Kathy, let's start with the Federal Reserve. It seems to me that at the moment we're focused on the way the chairman frames risk management, whether there is a focus on over tightening or under tightening in 2023. What do you think the biggest risk is for this Federal Reserve?
Microsoft strikes 10-year deal with Nintendo on Call of Duty
"Microsoft says it has struck a deal to make the video game bestseller Call of Duty available on Nintendo. Don't let anyone tell you video games are just for kids. Activision Blizzard says their latest iteration of Call of Duty Modern Warfare two, which retails for about $70, has earned more than $1 billion in sales since it was launched in late October. Now Xbox maker Microsoft, which is working on acquiring Activision, has promised to make the hit series available for Nintendo and a ten year deal. The merger of Microsoft and Activision Blizzard is facing close scrutiny from the Federal Trade Commission and global regulators. The Nintendo offers an apparent attempt to fend off objections from Sony, which makes the competing PlayStation console Sony has raised concerns about losing access to what it describes as a must have game title. Microsoft president Brad Smith said the agreement would bring Call of Duty to more gamers and tweeted we'll be happy to hammer out a deal for PlayStation as well. I'm Jennifer King.
Fresh update on "trade commission" discussed on Bloomberg Daybreak
"Zero, the number of infections is expected to soar and deaths are predicted to rise over 2 million. The U.S. and Europe had an ebb and flow pattern of outbreaks over months and years, but China is likely to see a wave of infections engulf the country, all at once. The Federal Trade Commission has sued to block Microsoft planned $69 billion takeover of video game company Activision Blizzard. The agency says it could suppress competitors to Microsoft's Xbox game console and its growing games subscription business. And a half century after U.S. astronauts brought it back from the moon's surface, a minute piece of extraterrestrial rock has finally reached its intended destination, the eastern Mediterranean island nation of Cyprus, the 1.1 gram piece of moon rock was on display yesterday at an exhibition commemorating the 50th anniversary of the last of the Apollo lunar landings and the Artemis mission whose Orion capsule is on its way back to earth after orbiting the moon. That's the Bloomberg and JIT stem report, Amy. All right, thank you, Nathan. It is 6 43 on Wall Street time now to check what's going on in D.C. and some of the top stories in our nation's capital include, as we've been telling you this morning, Arizona senator kyrsten sinema has changed parties from Democrat to independent. You've also been hearing us talk about Britney greiner, released from that Russian labor camp. We're going to get reaction to that. President Biden expected to sign their respect for marriage at Congress passed that yesterday and then of course the negotiations are ongoing for the spending bill to fund the government days before the deadline to avert a shutdown. It's a lot happening here on this Friday morning. We bring in Bloomberg senior Washington correspondent and the host of sound on Joe Matthew, Joe good morning to you. Good morning, Amy. All right, thank you, Joe for being there. What is the impact of cinema's change of heart? Well, my goodness, the impact here brings us back a couple of days I need to take back some of the things I told you when I was in Georgia. Remember the whole point here to getting a Raphael Warnock reelected was to get that extra breathing room that 51 49 split in the Senate and it looks like that's going to be going away as soon as it arrives. Joe Manchin rising, you know, we're going to be back in this 50 50 split essentially with kyrsten sinema now acting as an independent. Now it's important here. She says that she will not caucus with the Democrats, but will also not behave any differently. It appears that she wants to keep her committee assignments. So we kind of have another Bernie Sanders here, but he's not, but still not attending the democratic luncheons and following the democratic sort of mantra here. It's unclear exactly what that will mean for counting votes in the Senate, but look, we have to be honest about where we're coming from here. Kyrsten sinema has been a real thorn in the side of a lot of Democrats in her reluctance to raise taxes in her reluctance to end the filibuster in the Senate, and that's why a lot of the democratic agenda of Joe Biden's agenda like build back better never got passed. So this may not change as much as the headline might imply. So is there any indication why she decided to do this now? Well, look, if you ask her, she'll tell you about her Independent Spirit. And that this is what's right for the people of Arizona, but the fact of the matter is she is facing a likely primary challenge in 2024. Congressman Ruben gallego, a Democrat from Arizona to her left who talked months ago on Bloomberg sound on about his plans to challenge her. Could really create an issue in the primary. This would mean that she would not have a head to head challenge in the primary race, but that's not, by the way, the reason that she's talking about publicly, she says she's not even talking about a second term yet. All right, let's shift gears now. Brittany griner landed in Texas this morning. And then headed straight into medical evaluation, obviously there's a lot of a mixed emotion about her release. What are you hearing? Well, that's true. I mean, The White House press briefing yesterday really brought this to the fore. This is a really difficult balancing act for The White House to try to celebrate the release of an American who was in their eyes wrongfully detained. While at the same time talking to families of other Americans still detained like Paul Whelan, how come he didn't come home? How come he was left behind? Many are asking. You're talking about a U.S. Marine who has been stuck over there since 2018 accused of spying. I spoke with a lawyer last evening, he was representing another American Mark fogel who's over there a teacher who's been detained there for years. And look, it's unclear exactly what went behind this swap, so we don't want to act like we were in the room for it. But she was swapped for a reputed arms dealer for somebody who is in prison for trying to kill Americans. This Victor boot is now back in Russia and could well help Vladimir Putin acquire arms to use in the war in Ukraine that he can't get otherwise. So there are major national security implications at the same time as celebrating the return of American to come home. This is, this is a very difficult time emotionally and politically for The White House to see that grinder's wife up there yesterday was a very touching moment to hear from Paul Whelan's family was too. There's a lot to unpack there, but we've got to pivot now to the respect for marriage. It was just a big day at The White House because Congress passed the respect for marriage act. The president's about to sign it, that's huge. Well, it was. It was a huge day in the house. It's a huge day for Nancy Pelosi. She got emotional when she was in the speakers rostrum to deliver the final tally to drop the gavel on this. And couldn't actually get it out at first. It's likely the last major thing that she will do as speaker. But look, this is a big deal. It's something that's approved by more than supported by more than 70% of Americans, even as a lot of Republicans voted against it on religious grounds. This is now the law of the land at codify same sex marriage it removes the defensive marriage act and replaces it with the respect for marriage act. All right, we got about a minute here. Lawmakers still debating spending bills on Capitol Hill. Are they going to make that December 16th deadline? Oh my gosh. Well, it depends how you qualify making it. I would get ready to start kicking the can. Start doing the can can here because it's going to be about Christmas time and it's likely that they will push this right up until Christmas Eve. The question is, is that enough time to get an omnibus budget, a real budget and appropriations deal or is it going to be a yearlong continuing resolution which would not go very well for The Pentagon, for instance, because you end up handcuffing agencies to follow the budget from last year. There's a lot of sticking points here. They are not agreeing on the top line, but it was encouraging to see the national defense authorization act passed this week at least there is a framework for Pentagon spending that also eliminates the COVID vaccine mandate for the military. That's a big deal it is expected to pass the Senate. And that was a compromise between Democrats and Republicans. That's true, yes. And that's why it is expected to pass the Senate. The president will really have no choice but to sign it. All right, we're going to continue to watch that
Apple Possess More Power Than the Federal Government
"Must take a step back and be honest about what Apple is currently doing, not just what Apple is doing in China. But also at Apple is threatening to do to Elon Musk. Now, Apple has successfully diversified. Their business model from controlling the App Store to making hardware laptops, and obviously they're very successful iPhone. To being really controlling the vast majority of podcast market, there's so many different sectors that Apple has been able to successfully get into. And because of this, there are multi $1 trillion companies, right? Multi $1 trillion company. Apple is more valuable. Than several countries in Eastern Europe. It's just hard to even wrap your head around. In fact, apple is more valuable than I think you could combine 5 or 6 African countries. Just a single private company. Apple has now threatened to remove Twitter from the App Store, effectively ending the company. If Elon Musk continues on his free speech crusade. All the while Apple has just limited and restricted. AirDrop, which is an ability in the midst of protests to share information, share videos, share location, in the midst of all of the anti CCP protests. Right now, Apple, and I say this with a lot of thought, Apple possesses more power than several parts of the federal government. Apple is more powerful in many different ways than the Department of Justice. The Federal Trade Commission. Apple has the ability to involve themselves in an anti CCP movement. And then all the while say that we are going to act like the CCP in America and prevent Elon Musk from continuing to liberate Twitter.
Fresh update on "trade commission" discussed on KCBS Radio Overnight News
"Take a look at your money minute. This is a Bloomberg money minute. Federal safety officials with osha are investigating Amazon over alleged retaliation against employees who raised safety concerns after a fire at the company's unionized at New York City warehouse, a federal Department of Labor spokesperson says the investigation was triggered by 21 complaints filed with the agency, a spokesperson for Amazon said the claims have no merit in the company believes osho will come to the same conclusion. The Federal Trade Commission is suing to stop Microsoft from buying Activision Blizzard The agency said the $69 billion tie up between the Xbox maker and gaming publisher would harm competition. The deal would give Microsoft some of the most popular video game franchises, such as Call of Duty and World of Warcraft. Microsoft already owns the halo franchise in Minecraft virtual world building game and stocks rose yesterday following a 5 day slide on Wall Street gains range from around one half of 1% to just over 1%. Gina server Bloomberg radio. Maybe just exotic enough. This is Jeff Gilbert, with a car chronicles test drive, rivian's
CEO Nate Jones Talks About His Company's Xlear Nasal Spray
"Very interesting story here. I want to talk about how the Federal Trade Commission is targeting a company for trying to help people. It's remarkable. Nate Jones joins us, CEO of clear, and that is spelled X clear. Welcome to the Charlie Kirk show. Well, hey, thanks for having me. Tell us your story. No, the story is I'm a founder CEO of a clear spell that are, but it's pronounced clear. And we've been selling nasal hygiene products for over two decades since 2000. And most people are familiar with using a saline spray. Ours actually has xylitol in it. It's a sugar molecule that is actually been shown to block bacterial and viral adhesion of a variety of bacteria and viruses. My father's a physician. He started using it in a nasal spray to wash out the airways of young children. In his practice, that we're having recurrent upper respiratory issues. And so we've been doing this for 20 years. And when this pandemic came along, we had a bunch of doctors that were using it for people with COVID and they called us and said, hey, you guys need to look into this. And so we started doing research and trying to find out what was going on there. And what we found in some of these studies and there was a study that came out of university of Tennessee where they showed that xylitol actually was able to block the SARS CoV-2 virus from adhering to the tissue. And so we started we went to the FDA and said, hey, we would like to do a human trial on this and see if it works. And they said, well, no, you're not a drug. You can't do it. We've tried many times. We tried to go into barda. We've tried getting this information into the CDC. And it's just been ignored.
Fresh update on "trade commission" discussed on The Vergecast
"Please drive immediately to the nearest lawyer's office to continue listening to the show. I'll just ask GPT. Yeah. Yeah. Should you sign a contract whose term is forever? And I feel like very clearly the answer is no. Even Chad GPT will be like, don't do that. Don't do that. No contracts are forever. So I get it. So then Microsoft has been running around these past few weeks, trying to appease regulators in this country and in Europe. By saying, okay, we will commit to Call of Duty for ten years. Okay. Which is an awful long time. They're going to be out of major world conflicts to mine. And they will be fully in the future. They're already in the future. They have to get rid of all the World War II call of duties are done for them. Yeah, they're done. They went to the future and they went back already. Call of Duty is like, they're just going to be out of wars. They're like, whatever. AI call of duties where we're at ten years now. That was not good enough. It was not good enough for the CMA in Europe, which is already said we're going to stop it. We're starting an investigation. And then here, the FTC, Federal Trade Commission. This basically been rumbling at this for a long time. Yeah. Just muttering to itself. Just like we are not going to let this happen. So when I say there's a little bit of interest. Yeah. They filed the suit. We have not seen the complaint yet. The word on the street is they're not going to release it into Microsoft is like got it. And so Microsoft president Brad Smith is like sat down with a sniff derived brandy and like read the complaint. There's a little smoking jacket on. But today, they said they're going to do this complaint. They also find the complaint in their own administrative court, not in federal court. Which is tactically interesting. What do they actually want out of this? Do they actually want to block the deal or is there a lot of bluster to get some concession? Who knows? But today, the same day is the first day of the trial, or the FTC is as sued to stop meta, Facebook, from buying within, which makes Supernatural, which I have called the killer app for VR. It's pretty killer. It's very good. So if you have a quest two, Supernatural is a fitness app. It's beat saber, but you have to sweat. It's beat saber peloton. Oh, they've added kicking. They had a kicking. Yeah, knee strikes. All right, well, I guess. The boxing is great. I like the boxing. I think I told the story very interesting for my wife to the boxing in Supernatural one time. Grinned the whole time. They took off the headset and said, I'm great at boxing. That's what you want, right? So this thing's great. It sells a lot of headsets. Chris Milk, the CEO within has been on decoder. He's like, the Supernatural community is like 50, 50 men and women, and it's people over 40, which is not a traditional VR. Right. This is the thing, this app initiates people into buying a quest to. Because it's good. So medicine screw it, we buy every other VR game, we're going to buy Supernatural, and it went and bought an FCC sued them. This deal is like teeny tiny. They're buying this thing like 20 bucks. Yeah. And it's an app for VR headsets. Market size of 6. They're the biggest fish in a tiny, tiny, tiny font. If the FCC is going to block that deal, they basically had no choice. But to block. To block the exhibition deal. It was like, right? Obviously, console gaming is much bigger, Activision itself is much bigger. Microsoft opportunistically swept in because body comic dad vision is like Activision Blizzard has been facing some bad times for us. Numerous allegations of weird sexual misconduct across the company.
Former Uber security chief found guilty of concealing data breach
"There's a conviction in the Uber data breach cover up The former chief security officer for Uber has been convicted of trying to cover up a 2016 data breach in which hackers access millions of customer records Authorities say Joseph Sullivan was convicted Wednesday in San Francisco of federal charges for concealing the breach in which hackers stole data of 57 million users and 600,000 driver's license numbers Prosecutors say Sullivan concealed the breach from the Federal Trade Commission and secretly paid the hackers $100,000 in return for promising not to release the data Uber's new management uncovered the truth in 2017 and made the breach public the hackers pleaded guilty in 2019 to
Fresh update on "trade commission" discussed on Bloomberg Daybreak Asia
"We'll continue to keep you updated on market action as we roll on here on daybreak, Asia. Head Baxter has a global news update Eddie. All right, thank you, Douglas sub Bloomberg sources are saying that China moving toward the end of COVID zero, cases will surge death toll may climb to over 2 million. It says nothing like the rest of the world has seen. Brittany griner on her way home from Russia, prisoner exchange involving an arms dealer named at Victor boot. Paul Whelan and not part of that deal, but the State Department says negotiations continue to get him home. China and Saudi Arabia have signed a number of agreements, including on energy and investments. Bill protects the rights of same sex and interracial marriage has now passed both the U.S. House and Senate. It goes to the president. The Biden administration is saying that China's wolf warrior diplomacy has failed and now seeks a more predictable relationship with the United States and the U.S. FDA has cleared the Pfizer Moderna COVID vaccine boosters for children aged 6 months through 5 years. And the house January 6th committee is considering criminal referrals against Donald Trump and his chief of staff Mark Meadows, as well as at least three other key allies. In San Francisco, I met Baxter this is Bloomberg back to Doug and Kathleen. Thank you so very much. Let's go into a big story. We just mentioned the U.S. Federal Trade Commission is seeking to block Microsoft's $69 billion acquisition of Activision Blizzard joining us now for a whole lot more is Vlad zava. He's the Bloomberg tech editor who has had so much to do with his story. The government seems to be claiming that Microsoft has a history of being anti competitive withholding content and more from its gaming rivals. What is this history they're referring to? Well, it depends on how far back you want to look. I mean, we are familiar with Microsoft's long-term history, two decades ago, Aztec was rising the category as an industry, Microsoft was the antitrust watchdogs, nor was the enemy, but it was the company that everyone fixated on. As Google was a small company, Apple was comparatively small against Windows. Microsoft was the big threat to everybody else. Now, the company itself has worked really, really hard to correct that image. And in recent years, it has been one of the best behaved corporate citizens so to speak in the tech industry. But specifically to the game industry, Microsoft's whole strategy is to build a service that nobody else has, which is the Xbox games pass. It's a subscription service. It's pouring a lot of money into acquiring IP, such as with the Activision Blizzard deal that is the highlights of that strategy. And what competitors like Sony are concerned about specifically Sony is that it's going to be impossible to compete with Microsoft because it is so well resourced and because once it gets passed this investment stage, it will start charging more and more for that service. So you have a device manufacturer Microsoft making the Xbox and a game publisher that has a big footprint, Activision Blizzard seems like a logical marriage FTC saying, hey, it's not only logical, it's anti competitive. How does this get resolved? It's just, hey, you can't do the deal. Does Microsoft have to give in some way that we're not foreseeing right now? What can you tell us about that possibility? It's a good question. I think there may be some creative ideas that nobody has floated yet, such as what you might be intimating, maybe hiding off some of Activision Blizzard's portfolio because the name itself speaks to the fact that it's not just Activision. It's blizzard. There used to be two separate companies. They have vast portfolios. I mean, we're talking about games like World of Warcraft, Diablo, Call of Duty, which is the standout game that is at the heart of all of this. So maybe there is a way to do that. I don't think that there's a lot of appetite on Microsoft's part or on the other side regulators or even Sony's. As far as Sony is because this deal should absolutely not happen because it makes Microsoft way too powerful. And I can see that point of view and from antitrust regulators perspective, they should be looking at the worst case scenario. Not what Microsoft is saying, because what Microsoft has said is, look, we're going to play fair. We're going to distribute this to everyone. They just announced this deal with Nintendo, they will bring Call of Duty to Nintendo platforms for ten years once they close the deal. They committed to do the same with valve steam on PC. So really it's a case of, well, if someone says yes, we will take the same ten year deal, Microsoft extended the same over to them that Nintendo was taken, maybe regulators would be like, well, look, if the industry is fine with it, maybe we can be too, but Sony has shown no signs of doing that. Well, how much games playing goes on in this, these kinds of lawsuits, this kind of telling the FTC, this is going to destroy us, right? Because one can imagine that to a certain extent, it benefits me if I say, oh, Microsoft is so anti competitive. I'll just go under if you allow them to do this because at the very least maybe it slows them down or has some impact that even if it's not that dire and never would be, gives me
"trade commission" Discussed on WABE 90.1 FM
"Has made a lot of changes after 2019 because they were regulated. The Federal Trade Commission fined the company for violating children's privacy laws online. And since then, they have made changes to their advertising business and the way they collect data. They've made significant push to try to program quality into their algorithms. Interesting example is they say they're promoting videos now that are not overtly commercial videos that maybe encourage children to go outside and play or do science experiments. This is the company's methods because it avoids taking a strong editorial hand. It doesn't want to pick videos for people. It wants the audience to select algorithmically. And so they'd make these sometimes confusing and strange decisions to try to program the site in a particular direction without being too heavy handed. So somewhat regulated now, but you write that for years, YouTube could fly below the radar of debates about social media's impact on kids. How was it able to go for so long while the other big tech companies, even its parent company Google were being grilled by Congress and the media? I think some of it is just the media and myself included and politicians, their experience of YouTube is different than their experience of other social networks. For a lot of people, certainly above a certain age, YouTube is a utility. It is a search platform, it's something where I may look up how to instruction I may learn how to fix my car or a yoga routine. It's
"trade commission" Discussed on > Better Series
"Government affairs unit, and they have their own relationship with the Federal Trade Commission as well. By the way, the CSS or C has referred, I think it's 19 cases now to the FTC and the division of marketing practices regarding direct selling companies that choose not to participate in a forum.
"trade commission" Discussed on WGN Radio
"Four 6 two 6, the Federal Trade Commission will soon be getting a new leadership, but how soon, by the way, John schweppe of the American principles project. Well, I think there is sand by the end of the year. So I'll tell you, we have one and a half weeks left of the Senate before this thing's over for the election. So my guess is probably after November and the lame duck. All right, very good. Tommy and Charleston, West Virginia. Good evening. Good evening. Thank you again for refining guests. Let me reserve the right to ask my question, but good comment, few call us back guide talked about the Roman Empire and I don't think he fully stated this case. What's the difference between ourselves and the fall a Roman Empire is the fact that well, for one thing, we had not become a empire and we still have elections. That's one difference. A bunch of Germanic Germanic hordes waiting along our borders to nibble away at us. That's another. Well, what we have done that they did wrong was to allow significant elements of our economy to be produced or taken care of outside of our borders. Are you talking about outsourcing various things that we do? I'm talking about China and our bipartisan stupidity of the mid 1990s where we allowed an exceptional volume of investment money to go into China and because we were going to be able to sell them NBA games on the Internet or whatever however that's done. Politicians are very quick to point out bipartisan accomplishment. They refuse to acknowledge bipartisan failure. And my question is bigger than that. Okay, let's hear it. For one thing, I won't app anything. I can't even text because my hands are shot to bleep. Well, we're very sorry to hear that. Can the guest please on the cyber world? Please explain to me how people are being encouraged buying mortgage deed and insurance because cybercriminals of some sort are able to get banks to loan them money using my house, your house or mister bonds house as collateral. All right, let's ask our guests about that
"trade commission" Discussed on WGN Radio
"Welcome back to the Jimbo Hannah show one 8 6 6 5 O Jimbo one 8 6 6 5 O 5 four 6 two 6 a new head of the Federal Trade Commission is going to be selected. And it may turn out to be somebody with strong ties to big tech, which is to say, if not a sign that the candidate in question has been compromised by big tech, it certainly provides, but appears to be a conflict of interest in that regard. I would think the natural tendency John schweppe of Republicans would be to avoid such a concentration of power unless, of course, we're talking about massive campaign contributions here, are we? No, I think this is something that Republicans are understanding more. I think in the past few years with the advent of capital, which is that concentration of power anywhere is a threat to liberty everywhere. And so we were really good. I think previously of recognizing the truth and it still is true that concentrating power and government or government agencies or unaccountable bureaucrats. That's dangerous. It's not good. But it's also scary to have a lot of power concentrated in the hands of a Silicon Valley oligarch who, you know, frankly isn't really caring about where the American people are at. He's more concerned with yoga and things like that. So I think it's something going forward that we have to kind of recognize and there is a role for government. And I think Republicans recognize that. When the power of private actors grows too powerful and when it's infringing on the liberty of our citizens and that's where we have to kind of balance what are we willing to do and what are we not willing to do? Yeah, one 8 6 6 5 O Jimbo one 8 6 6 5 O 5 four 6 two 6. Here is Alice in Atlanta good evening Alice. Good evening. In a hack of my mortgage service provider, my information named social security number driver's license number, I don't know what else. Was stolen and then sold so that someone created new identity with my name and another state are reproduced by check checking account number and started spending money using my checking account. And of course, I didn't find out about it until I got an overdraft notice. We're not bank. Here's the question. Why is the FTC not having setting higher standards in my case, the mortgage servicer had their server, it was invaded and a hacker was in the server for 6 weeks. Why are there no standards for these companies that are collecting all this data about us? This is the second time knock had my information stolen. First one was with Equifax. And I know the FTC controls this. So how do we get higher standards for these companies? All right, John. Yeah, well, look, I agree a 100% with the caller. I think that's something that we definitely need. I know that some oversight for what you just described falls to the CFPB, the consumer fraud and protection bureau, which I know is Republicans of historically opposed. Don't agree with this creation. Thank you on constitutional. But look, ultimately, I think what we need is federal privacy legislation. We need to create, in my opinion, a private right of action to allow people like the caller to get restored, what's rightfully theirs and then some when these types of things happen because companies are improperly handling their private info. I mean, this is one of the things I think Jim that's really important for people to understand is that all these companies have hundreds of thousands of data points on everyone. And they use it to their advantage to kind of maximize the profit they can earn from us and all of that, but they have there's a public trust there when they hold that type of data. And I think citizens expect that data is safe and so when it's not, we need to make sure that there's whether it's a government oversight law enforcement or something else like private right of action. We need to make sure that people can get what's rightfully theirs. Wouldn't it also help if we had much higher penalties than I'm talking about a long prison sentences. Yeah, no, I think that would be very helpful. But again, and I will tell folks just so they understand what's happening. Part of our reason this hasn't happened. I mean, obviously this would be tremendously popular, I don't think anyone on the left or the right would oppose the idea of federal privacy legislation. But these powerful money ventures are very powerful and they do influence a lot of what's happening out here. And they're kind of mucking it up to prevent anything like that from getting done. You know, money only goes so far if people are paying you money to take a very unpopular position, then the money is counterproductive. I would much rather tell these people to go fly a kite and stick their money where the sun don't shine and tell the voters in my district or state that I have turned down that money. But my opponent, Joe blow, is taking that money. And this is what the money is trying to do. I mean, money that asks you to become a Nazi is not money you would use in your campaign. The idea that money alone controls this sort of thing. No, it depends on what the money is being asked is being used to ask you to do. Otherwise, it becomes a tremendous weapon in the arsenal of those who are trying to seek reelection. I turned it down. No, I agree with that, but I will say when it comes to an issue where there isn't an established political movement, the punish you for siding with the money of interest. It's a lot harder. And so I think you see that on both sides, you know, I could name an industry and tell you which parties are cozier with. And I think that there's just kind of a default of, okay, I'm going to say that this industry and unless there's a political movement, so like our caller just described if there is a political movement on privacy that was pushing hard and promising to hold politicians accountable and unelect them if they fail, I think you'd see a real change really quick. Here's Donna, Jamestown, New York, good evening. And yes, either Jamal Hannah. Yes, you're on the radio done. What's on your mind? I don't think it's like yelling the Roman Emperor fell by me just kept getting bigger and bigger and bigger and bigger and more money and more money and they made a people. They made what? That Roman Emperor fennel, because I know
"trade commission" Discussed on Daybreak Crypto
"Everyone. Welcome to another episode of daybreak crypto. I'm here with Greg. And today we have an article and kind of a letter topic for our Friday show. So first we start off with a development that's been going on for quite a while. This is kind of been a year in regulators trying to figure out how to regulate crypto and the major players have been the SEC, of course, but also the CFTC, which is the commodities trade commission. And their responsible for overseeing a lot of the futures, trade, in commodities. But essentially, what seems to be happening is they're settling into some kind of compromise. While there's no legislation agreed to yet, it appears that Bitcoin and Ethereum are likely to be treated as commodities and therefore fall under the purview of the CFTC's regulations, while pretty much every other cryptocurrency will be considered a security and therefore fall under the SEC's jurisdiction for regulation. So like I said, Greg, you know, this is not quite a done deal, but there's been so much conversation happening this year that it seems like this is where we're headed. So in that light, do you like that arrangement? What are your thoughts on that? I think it just makes it even more messy. Honestly, 'cause now we're trying to split hairs under which crypto should be managed by which division and is there going to be fights about it because you would know within the divisions and what, I mean, I just feel like there needs to be one group that is in charge of all of crypto regulation. And you can't kind of split them up like this because it's like, especially like Bitcoin and Ethereum, they're the two biggest cryptos, but they're very, very different in how they operate. So it's weird. It's not like they're setting a president where they're saying everything with a smart contract has to be a security. And if it doesn't have a smart contract, it can be considered a commodity. You know, it's their kind of,
"trade commission" Discussed on WABE 90.1 FM
"Of security is now blowing the whistle on the company. Peter zatko, also known by his hacker named mudge, filed complaints with several government agencies. He accuses Twitter of serious security flaws that he says pose a risk to the platform's users, shareholders, and national security. The complaint was obtained by CNN and The Washington Post. Joseph men is a technology reporter for the post, welcome to all things considered. Thanks for having me. So you spoke with Peter Zack, go former Twitter head of security. What did he tell you, his reasons were for filing this whistleblower complaint with the Justice Department, the Federal Trade Commission, and the Securities and Exchange Commission? Well, he was very frustrated during his short time at Twitter. He was there for 15 months and brought in because after a particularly embarrassing series of hacks in 2020. So he was brought in because of his reputation to fix the place, and then he basically wasn't able to do so. And he was fired after a change in CEO in January, and he told me that he sees this whistleblower complaint as an extension of his work trying to make Twitter safer for people. And if the company won't do it, then he's basically inviting regulators to come in and make them do it. Can you explain what in his view the threat to national security is? Well, he says they were warned that there was more than one intelligence agency with people inside the company. He says that he believes that there was an agent of the Indian government inside the company. So there's that. There's the insider threat stuff. But also just what he describes as egregious failings in protecting user data, which can include phone numbers, location data, real emails. That's super risky because maybe not for you and me, but in many countries, the dissidents are using Twitter to communicate, and they're a great risk. And they can be exposed this way. In fact, there was an insider threat in San Francisco. There was just a conviction this month of somebody who was accused of working for the Saudi government inside Twitter. And turning over information about dissidents. So that's the national security issue. Peter zatko has an interesting background. Tell us a little bit more about him. Well, mudge that goes he's known as actually one of the most famous hackers in the country. It has been for a long time. In the 1990s, he was one of the first people to publish details of security flaws and software so that at that point, if you're a probably a business and you bought some software, this is the early 90s mudge and others would find flaws in them instead of just exploiting them by themselves and breaking into people's computers who were using that software. They would publish findings that said, this is the problem or that's the problem. Okay, so back to this whistleblower complaint. How has Twitter responded to this? They say that it's exaggerated. It's out of date. There's an accuracy in it. They say it's that go is a disgruntled former employee who was fired for poor performance and poor leadership. And this comes as the ownership of the companies in question, Elon Musk is trying to back out of a deal to buy Twitter. Do you expect this to have an impact? It's certainly going to have some impact. The question is how much? And I think we're going to know that soon. Much that go can be subpoenaed. And it's very likely to be subpoenaed by Musk's team, Musk has already sort of alluded today to the complaint. Musk is trying to get out of the deal and do it for free on a couple of grounds. One is that Twitter radically underestimated the number of bots and spammers on its site. And they've done it by so much that it's a material adverse event to get down to the actual number of bots to find out what that is and that go agrees in part of his complaint is there's a section titled Twitter lies to Musk about bots and the second thing is that in the deal that was struck with Musk's Twitter stood by its SEC filings and said that everything in them is true. Zach says otherwise it says that by hiding these really serious security deficiencies, it was among other things violating an 11 year old agreement with the Federal Trade Commission to do better and have a decent security program. And that is a material omission to shareholders, and if Musk picks up one that he could argue that Twitter attesting to the veracity of its statements to shareholders was fraud and breach contract. Are there larger implications here for cybersecurity beyond Twitter? There are. So I've covered cybersecurity for 20 years or so, and I'm hearing from a lot of people today, both that Twitter is an outlier that it's got exceptionally bad security historically. But also that it is kind of a symbol of how bad a lot of tech companies are. It's security. You know, behind the scenes. It's super rare to have a whistleblower. This high rank with this kind of reputation come forward. But you shouldn't really be shocked if similar things are happening at other companies that we don't know about. That's Joseph man, a technology reporter for The Washington Post. Thanks a lot. Thanks for having me. In Russia today, a televised funeral for the woman killed by a car bomb in Moscow this past weekend. Her name was Daria dugin. She was a Russian propagandist, she supported her country's invasion of Ukraine both on TV and online, and her death is making global headlines both for its violence and because of who her father is. Well, let's bring in Merlin la roel, she is director of the institute for European Russian and Eurasian studies at George Washington University. Welcome. Thank you. All right, so let's talk about the father. His name is Alexander dugan. He is a prominent far right political philosopher who's thinking is believed to have influenced Vladimir Putin's what else should we know about him? Well, first, I think we should question that first assessment that I think it's more complicated than that. He was pretty famous in the 90s because he was one of the first one in Russia to formulate a kind of language, a political language about Russia's great power in Russia as an empire. But in the 2000 you really lost some of its prohibitions, there are many other ideologies who appeared who are much more influential on the regime's kind of strategy and it has been pretty marginalized inside Russia is pretty more famous abroad than is a famous in Russia itself. What has he said what has he written specifically about Russia and Ukraine? He has been a very anti Ukraine ideology since the beginning already is one of his most famous work in the mid 90s. He was explaining that Ukraine doesn't exist as a state as a nation that it's a construction of the west as a kind of anti Russia strategy organized by the west. And that's something that was not so common at that time. But after that, it really has been working on many other countries, creating a kind of big geopolitical vision for Russia as an empire. And it has always been very anti Ukrainian to the point that Ukraine has forbidden him to enter the Ukrainian territory already for like 15 years like in the mid to southern he was already personal on grata in Ukraine. Okay. So you're describing him as someone who has been very prominent whose moment at least in Russia may have passed. Do we know how influential he has been on Vladimir Putin's thinking? Are these two men close? No, we even have not sure they have met, Putin has never quoted doogie in dugin is not part of any official institution like several other ideologies. These only on a small Internet channel that is
Former Twitter security chief files whistleblower complaints
"I Mike Gracia reporting of former Twitter security chief files whistleblower complaints Peter zatko who was Twitter's security chief until he was fired earlier this year has filed whistleblower complaints alleging the company misled regulators about its cybersecurity defenses and its problems with fake accounts according to reports by The Washington Post and CNN Zabka filed the complaints last month with the U.S. Securities and Exchange Commission the Federal Trade Commission and the Department of Justice The Washington Post reports among the most serious accusations is that Twitter violated terms of a 2010 FTC settlement by falsely claiming it had a strong security plan In a prepared statement Twitter said Zabka was fired for ineffective leadership and poor performance and that the allegations appear designed to capture attention and inflict harm on Twitter Its customers and its shareholders Mike Gracia Washington
Facing pressure, Biden to sign order on abortion access
"Pressure President Biden will sign an executive order on abortion access Two weeks after the Supreme Court overturned roe V wade ending a constitutional right to abortion president Joe Biden will take executive action to protect access to abortion according to three people familiar with the matter The White House says Biden will speak on protecting access to reproductive healthcare services Friday He is expected to formalize instructions to the departments of justice and Health and Human Services to push back on efforts to limit the ability of women to access federally approved abortion medication or travel across state lines to access clinical abortion services Biden will also ask the Federal Trade Commission to take steps to protect the privacy of those seeking information about reproductive care online Mike Gracia Washington
After Roe, Dems seek probe of tech's use of personal data
"Following up on the Supreme Court's ending of the constitutional protections for abortion Democrats in the Senate are calling for an investigation of tech companies use of personal data The lawmakers accuse Apple and Google of deceiving millions of mobile phone users by enabling the collection and sale of their personal data to third parties Privacy experts say now that roe versus wade was overturned it could make women vulnerable because their personal data could be used to surveil pregnancies and shared with police or sold to vigilantes and a letter to the Federal Trade Commission the senators said data brokers are already selling and sharing the location information of people that visit abortion providers to anyone with a credit card They also noted Apple and Google now allow customers to opt out of data tracking but until recently it was difficult to do it Ed Donahue Washington
"trade commission" Discussed on WNYC 93.9 FM
"A plan dot org I'm David Bronco in New York first Twitter has agreed to pay a $150 million to settle allegations it deceived people about their private data turned over by users in some cases who thought it was just used to keep their accounts safe marketplaces novo safo has this The Justice Department and the Federal Trade Commission say that during a 6 year period starting in mid 2013 Twitter told users that it collected their phone numbers and email addresses in order to maintain account security regulators say what the company didn't disclose is that he was also using that information to show users targeted advertising A government says under the $150 million settlement Twitter will be bound by new compliance measures In the blog post a Twitter executive said the company takes data security and privacy extremely seriously and has improved its operations A former marketplace Are you buying maybe trips and meals and less boxes of stuff Because it's back ordered or jumped in price the commerce department releases data tomorrow on how consumers are behaving during these inflationary times marketplaces Justin Ho has more on how objects are out and services are in Spending on goods jumped at the start of this year but it's been falling ever since Jennifer Lee senior economist at the bank of Montreal What we are seeing right now is probably people holding back because either a because of the higher prices or be there just waiting until they can start seeing some more supply come back online On the other hand spending on services like travel and going out to eat has been steadily increasing for most of the last year according to the commerce department We're really just kind of in the early stages of that shift And it's going to pick up steam we think That's Kathy boss Jan sick at Oxford economics She says many people already bought all the TVs and household goods they need Now they want to get out of the house And even though prices are rising consumers can afford to spend money The labor market is still very strong and there's still a big pile of savings on the household balance sheet Spending on services won't replace spending on goods For instance boss jans says people will buy more vehicles when more become available I'm Justin Howe for marketplace Notes from the Federal Reserve's last meeting came out yesterday expect several half a percentage point jumps in rates in the coming months given inflation caused by pandemic and Russia's war distortions and the hot jobs market in the U.S. Stock index futures are every which way for the S&P up a tenth of a percent for the NASDAQ down two tenths of a percent the ten year interest rate down 2.73% today we also followed the money that will guide whether significant changes are made to the laws governing firearms in the wake of the 19 children and two adults murdered in South Texas marketplace morning report podcast will have that if you miss it on the air today.
Twitter to pay $150M penalty over privacy of users' data
"Twitter has been ordered to pay a multi-million dollar penalty over privacy violations In an announcement Wednesday regulators with the Justice Department and the Federal Trade Commission said Twitter failed to protect users over a 6 year span They say Twitter violated an FTC order issued in 2011 after serious security breaches the company failed to disclose that user's private contact information allegedly collected for security purposes was used to let companies send targeted ads The company has been ordered to pay a $150 million fine and put in new safeguards In a federal lawsuit the regulators are also alleging that Twitter falsely claimed it was complying with international privacy agreements The announcement came on the same day as Twitter's annual shareholders meeting Jack Dorsey's last day on Twitter's board
"trade commission" Discussed on Bloomberg Radio New York
"To evaluate whether mergers are anti competitive or not For more on this we're pleased to be joined by Bloomberg intelligence senior litigation analyst Jennifer ray great to see you again Thanks for coming in I know you've been following this effort from the Justice Department and the Federal Trade Commission for some time to sort of tweak the rules on mergers Can you get us up to speed on what's been happening It's your thing Thanks for having me Nathan I appreciate it We're really seeing an aggressive and interventionist Department of Justice and Federal Trade Commission like we haven't in many many years And they're undertaking a number of measures to just generally slow down deal making across many industries And this is multifaceted So first they're undertaking measures just to increase the difficulty of the process of reviewing mergers and add uncertainty into the whole review assessment to stop mergers at the outset before they're really even signed and come before the agencies and then in addition they're reevaluating the guidelines they've used since about 2010 for horizontal mergers more recently for vertical type mergers and non horizontal mergers To change the way they may assess the deals And one of the biggest difficulties for companies right now is that those guidelines have meant to be something company can rely on It's sort of a step by step analysis That tells the companies how the FTC or DoJ may evaluate the deal Right now they're in a state of flocks So companies entering deals right now can't rely on those guidelines today and at the end of this year or early 2023 they're going to look different and nobody really knows what that means right now Well do we have a sense at this point what the guidelines could look like Is the DoJ or the FTC giving any hint as to what changes could be made Oh yes absolutely Because they're asking for response from the public Any participation anybody interested in this process So they've put out what's called a request for information And they highlighted all sorts of areas that they're thinking about You know it doesn't necessarily mean the guidelines will be updated in those areas But some of the things they're thinking about are digital market transactions Whether or not transactions and companies that are in the digital market like big tech platforms should have a different set of rules that apply to them than companies that say make a product And necessarily part of that digital world They're also looking at whether or not threshold presumptions of illegality that they use today should be lowered So in other words they have built within the guidelines a quantitative threshold where they look at the market shares of the companies that are merging And if they exceed certain levels it's presumed to be anti competitive and now the companies have to come back and rebut that Those thresholds might be lowered And the effect of that would be the more deals are captured within that presumption of illegality There are also trying to figure out how they can better capture transactions that involved an incumbent buying a nascent competitor A company that's really small It's unclear what that company's future will be but it's considered a nascent competitor It could thrive and become a big rival to the buying company but the buying company picks it up before that can happen And they want to prevent that from happening in the future Are these potential changes something that's really going to be focused on big tech because it does seem as though that sector in particular some of the hugely profitable and hugely valued names that we talked about all the time are the ones that seem to be under the microscope here Very much so I mean you have really four big U.S. companies that are very much under the microscope of the regulators beyond just the merger area They're also looking at conduct of alphabet meta Amazon and apple for sure Yes this is focused on big tech because there's just this perception that the rules and the guidelines we've used so far to simply haven't worked that that industry has changed so much that the old rules just don't work in that industry anymore But it's not just big tech in that They're looking at any kind of an industry that they believe is already over consolidated So what we hear about a lot is healthcare agriculture beer airlines These are some of the big ones Health insurance These are industries that have really consolidated quite a bit over the last 20 years And there are concerns It's already gone too far So if these changes are to be made Jen how is this going to change potentially How companies go about deciding whether to acquire someone else Well first I think it's going to stop certain deals In the boardroom they don't want to go through the two years of difficulty and possibly a court fight to get a deal closed if it's risky It could also affect the deal terms overall It could increase deal prices for riskier deals It could increase what we call a breakup fee The fee generally paid by the seller to the buyer if the deal falls apart for antitrust purposes Also timelines might have to get extended because the review process has been extended and there's a greater likelihood you'll have to go into litigation to get your deal So you're going to need rather than building in about a year long process in your purchase agreement you're going to need a two year long process or more We're speaking with Jennifer Lee senior litigation analyst at Bloomberg intelligence about potential changes that could be coming to the rules when it comes to M and a How could these potential rule changes affect legislation that's moving forward on Capitol Hill Because we have seen in the Senate something of a push to move major antitrust legislation It's been a slow go Given how divided the Senate is But could these rule makings potentially affect what happens legislatively You know to some extent I think these are parallel processes and neither the legislative process nor the enforcement process within the FTC and DoJ want to wait out the other So the FTC and DoJ are trying to take measures now But the legislative process is underway as well Now what I'll say about that is that the proposed bills in the antitrust arena that have actually moved forward and appear to have some prospects are not really in the merger area They're more in the regulating the conduct of big tech platform area There are bills that are proposed that would that would change the merger guidelines that are not the merger guidelines but would change enforcement make it more difficult for mergers to get accomplished But those bills are kind of sitting and quietly don't seem to have a lot of traction Outside of giving the FTC and DoJ more resources That is something that's out there that I think probably will happen and will help merger enforcement because they need it Do you get a sense that companies are concerned at all about major legislation being passed on antitrust or on merger related activity given the division within the Congress Oh absolutely I mean I think we're seeing the lobbying efforts really increase tenfold for some companies in the last two years Recently Tim Cook made a speech about one of the proposed bills that would impact apple and apple sort of closed walled garden system that people think of for their cell phone And talked about the dangers of that legislation He's been out there speaking about that and others from some of the big tech platforms have talked about some of the dangers They think the.
Richard Morrison Describes the Role of the SEC
"What is the SEC? What is their intended role in this marketplace? So the security and exchange commission was created in the 1930s after The Great Depression where a lot of people thought the 1920 non stock market crash meant that the markets needed more government supervision. So Congress passed two laws one in 33 and one 34 that basically are the basis of the modern institution of the SEC today. So they regulate public companies publicly traded companies that you can buy shares from. And most of what they do is requiring companies to issue information, make truthful disclosures about their company. So there's a bunch of different regulations and forms that they have to follow. These form, it's called a ten K form, or they have to fill in all sorts of information. And it's a lot of the sort of things that you would find in a company's annual report. You know, if you're a shareholder, you just go to a company's website, you know, you can almost always find their annual report there. So it's a description of the company and what they think their opportunities for the future are and possible threats. So the other thing is the policing fraud. And so there have been as long history of investment fraud, get rich quick schemes, people that are trying to take your money with false promises. So the SEC is in charge of policing that as well. So it's a little bit like the Federal Trade Commission also protects consumers from fraud and lots of different areas. The SEC does it specifically when it comes to investments, things like stock trading and whatnot. So I think there's even if you are sort of a libertarian who are freedom loving person, small government person, there's certainly a role to play for an agency like the SEC because we don't believe in force and fraud. You know, we don't believe in people stealing your money. Under false pretenses. And so I'm glad that the SEC is there, you know, stopping people from defrauding the widows and orphans of
Rep. Andy Biggs Proposes Path to Fight Campaign Ad Censorship
"But one of the things that worries me most about big tech I was talking to another congressman the other day former they'll leave his name out of it And he was telling me that his campaign ads used to be censored by both Google Facebook and YouTube that he would get denial You can't run this idea and they weren't controversial ends at all Congressman the guy I was talking to some pretty mainstream guy And I said to him how is that not an FEC violent We have the federal elections commission designed to give us fair and free elections right It's supposed to be conserving again freedom and fairness in elections And yet you have Republicans who can't run ads due to what Facebook says and in Democrats seem to get free reign I mean we do have tools to fight this stuff No yeah we do And we certainly we should be using it Maybe you do have an SEC violation But the problem and you identify just a second ago is the FTC Federal Trade Commission the FTC federal elections commission these folks that get stacked with and they're not regular Democrats These are the less spring Democrats that hate that the professor tolerance but they're so intolerant to us And so I'll tell you there is a way to do this So it's the antitrust law to fix it You do the amendment that the ambition and I worked on a few months back And you take it out of the FTC's head and you take it so there's a cause of action right to the courts itself without having to go through the FTC first And if you do that you're in a full on litigation mode And that's going to be a lot cleaner a lot more transparent It's going to be you're not going to have bureaucrats getting in the way and intervening this I mean there's ways to get at this But it is censorship I mean there's no other way
'Pharma Bro' ordered to pay $64M for hiking cost of lifesaving drug
"A a federal federal judge judge has has banned banned Martin Martin Shkreli Shkreli from from the the pharmaceutical pharmaceutical industry industry for for the the rest rest of of his his life life Americans Americans can can rest rest easy easy because because Martin Martin Shkreli Shkreli is is a a pharma pharma bro bro no no more more that's that's written written in in the the opinion opinion by by U. U. S. S. district district judge judge Denise Denise cote cote who who is is barge barge girly girly from from the the drug drug industry industry and and ordered ordered him him to to return return sixty sixty four four point point six six million million dollars dollars in in profits profits he he reaped reaped from from inflating inflating the the price price of of a a lifesaving lifesaving drug drug Shkreli Shkreli sparked sparked outrage outrage as as CEO CEO of of Turing Turing pharmaceuticals pharmaceuticals by by obtaining obtaining exclusive exclusive rights rights to to daraprim daraprim the the drug drug that that treats treats toxoplasmosis toxoplasmosis and and then then raising raising the the price price from from thirteen thirteen fifty fifty to to seven seven hundred hundred and and fifty fifty dollars dollars per per pill pill he he resigned resigned as as CEO CEO a a day day after after he he was was arrested arrested on on unrelated unrelated security security fraud fraud charges charges for for which which he he is is serving serving a a seven seven year year sentence sentence the the Federal Federal Trade Trade Commission Commission and and seven seven states states allege allege that that his his company company illegally illegally created created a a web web of of anti anti competitive competitive restrictions restrictions and and jacked jacked up up the the price price following following Shkreli Shkreli is is bench bench trial trial last last month month the the judge judge says says recorded recorded conversations conversations sure sure we we continue continue to to control control his his company company from from behind behind bars bars and and discussed discussed ways ways to to thwart thwart generic generic versions versions the the company company agreed agreed to to a a forty forty million million dollar dollar settlement settlement last last month month in in which which they'll they'll make make their their prime prime available available to to generic generic competitors competitors at at the the cost cost of of production production I'm I'm Jennifer Jennifer king king a a
"trade commission" Discussed on Bloomberg Radio New York
"Again but the division is now facing new questions concerning why it's the most dominant Bloomberg reports the Federal Trade Commission is pushing forward with an investigation started under the former administration looking at the competitive practices of Amazon's web business This is pretty good for those who own stocks and update on Wall Street The Dow up about 7 tenths of a percent of the S&P 500 up about 1% and the NASDAQ up almost 1.2% And one of the biggest tech events of the year the consumer electronics show will see fewer attendees in Vegas next month Amazon meta Pinterest and Twitter have all canceled plans to attend T mobile is sponsored the show says it will significantly limit its in person presence Denise Pellegrini Bloomberg radio The Alzheimer's association and the ad council present the story of Tom and Levi Thomas the smartest man I know he's been a professor at two major universities been a teacher for over 40 years One day he told me that he was having problems in his classes I think one of the students I'd ask the question and he didn't remember the answer And I also noticed that he was letting his class out earlier than they were supposed to let out And he was telling them that he was doing it as a favor to them But I think in reality he just wanted to get out of there I was really starting to worry because I saw something that's wrong Levi an I talked about outward change in our lives but he was there beside me and my love for him was just immense When something feels different it could be Alzheimer's Now is the time to talk Visit AZ dot org slash our stories to learn more A.
FTC Should Investigate the Democrat Party for Anti-Competitive Behavior
"This is absolutely outrageous So the Biden administration Biden Harris and the rest of them They're going to make the price of fuel even higher They're going to reduce the domestic supply even more Even more As they write a pry bar the Biden Harris administration is recommending Congress hiked the cost of oil leases on government lands from 12.5% to 18.75% The 6.25% point royalty rate increase in oil companies contradicts the administration's promise to lower gasoline prices Biden Harris administration have asked OPEC to increase oil supplies They asked the Federal Trade Commission to investigate oil companies for so called anti competitive behavior How come nobody can investigate the Democrat party And the federal government and the bureaucracy for anti competitive behavior That's what they're all about That's what they're all about
"trade commission" Discussed on Bloomberg Radio New York
"Keen Carol nose I'm actually having keen baker So okay so hopefully it'll come but that's a long time to wait We've been waiting on one piece of electronics And then I feel like plays into some of the chip shortages that are out there as well A gift No well a gift My husband buffer himself All right let's get back to world the national news Over to Nancy lions She's in her 99 news room Thanks Carol President Biden is taking steps to lower gas prices in his releasing 50 million barrels of crude from the U.S. strategic reserves He says the wholesale price of oil has eased a bit but consumers are not seeing it at the pump and he's asking the Federal Trade Commission to look into why that's happening If the gap between wholesale and retail gas prices was in line with past averages Americans would be paying at least 25 cents less per gallon right now As I speak instead companies are pocking the difference as profit That's unacceptable Biden says he'll do what's necessary to ease prices Jurors are deliberating the case of three white men accused of chasing and eventually shooting to death black jogger ahmaud Arbery Judge Timothy Walmsley addressed the jury before their deliberations You are considering the case of the state of Georgia versus Travis mcmichael Gregory mcmichael and William R Bryan Now that the evidence and the arguments of counsel have been submitted to you it becomes my duty to give you the final instructions of the court Again judge Walmsley prosecutors say the men have no right to claim self defense because they were the ones provoking the confrontation while defense attorneys say the men were making a citizen's arrest In the Charlottesville civil trial concerning the unite the right rally jurors have found white nationalists liable for conspiracy to commit violence under Virginia law but could not reach a verdict on two federal conspiracy charges the jury awarded slightly more than $25 million to 9 people who suffered physical or emotional injuries during the two days of demonstrations Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more.
"trade commission" Discussed on Bloomberg Radio New York
"Of the equation What you've really got here is consumers coming together to act now As I said a moment ago whether they can maintain that whether they have other tricks they could pull will be the question here and it will be hard If this sort of tussle continues OPEC has key advantages But there's no doubt that it is as important shift in the geopolitics of oil and the OPEC will see it as a very important moment So I know for you it's not that big of a deal because you guys are over there in Europe have these little teeny weeny cars a park in these little parking spots but Matt Miller's got the Ford F one 50 raptor pickup truck It's got 34 gallon tank Is a price of gasoline going to be materially lower because of this or is this again more of a symbolic issue Not materially lower perhaps but I think it's worth pointing out but oil is even with today's little valley It's still a long way above the $8500 it hit at the beginning of the month as rich when the administration really got concerned What we haven't really seen yet is that actually be true to gasoline prices in the U.S. and that's why you've got administration also making noises about is the market within the U.S. for fuels for consumers competitive enough and writing to the Federal Trade Commission So that's where the administration would like to see some actions They do have other levers they could potentially pull including changing how much biofuel goes into gasoline in the U.S. Well just a 30,000 foot question Michael from the poconos emails in And he says is our price going up to Italy's price of a gallon of gas or as Italy's price going down to what we have Well I think I should at least 5 I think those are electric F one 50 will start selling pretty well But I don't think so I mean it's a really really so much of that is a tax issue I mean taxes overlaid on top Yeah absolutely I paid I paid the equivalent of $8 yesterday and frankly I'm used to it It's what we live with but I think politically To do that in the U.S. I mean are we talking at an oil price A couple of $100 There's all great a couple of $100 I think that's hard Yeah he just says Paul but we'll Kennedy's my size Can you see him on a Vespa tool in early London I don't think will Kennedy Thank you so much for the brief Oil prices aren't react.
Under pressure, Apple allows self-repairs to iPhones, Macs
"Apple is changing a long standing policy by allowing users to make some repairs to their iPhones for years apple has only allowed company approved technicians to touch its proprietary software in parts but now it's planning to launch an online store early next year we're users can pick up parts and tools to make simple repairs like screens batteries and displays on iPhone twelve and thirteen models not only was the by the administration and the Federal Trade Commission pushing for access to do it yourself repairs even some apple shareholders were demanding a change saying the company's anti repair practices contribute to electronic waste I'm Jackie Quinn
Apple to Let Reader Apps Link to Sign up Websites
"Part of an agreement with japan fair trade commission apple announced it will let developers of reader apps like netflix spotify and kindle directly linked customers to a sign up website. The commission has been investigating apple since two thousand sixteen for suspected violations of the anti-monopoly act and this agreement will close that investigation in the press. Release apple appeared to clarify what constitutes reader app saying developers. Rear apps do not offer in-app digital goods and services for purchase
"trade commission" Discussed on The Vergecast
"Data in three printed mid-sole innovation that created amid soul that reduces braking forces and generates over three times as much forward motion compared to previous four mid-sole generations and made a forty percent natural and renewable materials. So you can focus on moving forward and less on plastic waste adidas forty forward designed to move you forward okay. We're back to peace of news today. And i promise you. They happened simultaneously for a reason. Right yeah if you remember. The federal commission and the collection of states all sued up facebook and instagram. What's up they're complaining about tossed out the state's go away. You're done too late. You had your chance. You blew it in. Twenty eleven or whatever. Judge says to federal trade commission which is under the previous chairman. The trump appointed chairman. Hey you forgot to make the case. Facebook the monopoly like the quote was like this whole thing feels like everyone thinks monopoly therefore it is. Let's break them up like you got to make the case their monopolizing something here and so he dismissed it. Today was the deadline for the sec. To reform case in the meantime right joe biden. Appoint selena conduct the chairman of the tc. Lena con does not like facebook and amazon. Facebook asks the ftc. Lena akon recused herself from this case. I don't know i'm in charge of the thing. Her response in this refiled complaints is well. There's a judge like my job is to sue you. Your job is to defend yourself and the judge will decide not me right like you're going to get your due process but but my job is to sue you. So that's her whole response and then lays out this scorching refile complaint russell right up. But scorching definition of what she thinks. A relevant market is if you think about it. The judge basically said you didn't do this part right do a better yeah so they did. That partway better. The definition is very narrow personal show social networking and the complete tries to explain. Why like talk is not a competitor facebook. Because it doesn't it's about your friends and family and like read it isn't in youtube is religious video distribution platform and so the whole point is facebook is about your friends and family right and then it's like twitter. Is there to help us. Keep up with the news. I'm like no these are. I made some friends on. Twitter has yet to make any family into this is happening today. And everyone knows it's gonna happen to me because it's the last day right. Gotta do it. Today all indications are today so then this morning or man. Mark z shows up on. Cbs gayle king in announces. Facebook has built conference rooms in vr. It's called facebook horizon workspace and he like they do the interview in vr on. Cbs is one. It's hilarious out. see throat it up. We've got some clips of zakian from facebook talking about it in vr in vr. I used it today. I've got a quest to plugged it in like what's really funny about other people. Don't have your headsets. Like fake zoom in the. So like you're sitting in a virtual conference ruben. You're like a cartoon avatar sean. Hosters like screen. Like on a fake tv and vr in front of you. It's it's hilarious. The whole thing's. I'm alex i wanna make a start doing meetings. I'm i've got my quest to. I'm ready to go. I'm not saying anything about any of this ridiculous stuff. He's just listening but anyway it was just a very naked like it's a cool product. It's worth talking about right. We add is talking to casey past few weeks ago about the metaverse. This long range plan to get there this but one more step. It's good flashy demo and he's been promising. Vr office meetings for like years. The oculus developer conferences. Yes i mean. The facebook executives insist. They have all their meetings of you are. I refused to believe that through. That's you can decide in your heart. Weathered zach is really doing meeting some yard but they say it's a better in my fifteen minutes and vr. Today doing a meeting like thought it was really weird. This is a really weird. Like how does it feel to be a cartoon. Super super weird here. Can i just say this. Yeah every time. Any software product is like making avatar of yourself. I have a moment of pure crisis where i'm like. I don't know my nose. Looks like shut up. What are you saying pick. Your eyebrows considered the shape of my eyelashes. No mere what pulling your oculus quest headset off over and over again to reference yourself. It's such a weird demand keeps coming. I the new madden. It's like making avatar of yourself. Why where's this spoke. You play in madden as yourself you can. I don't because first of all it was very flattering myself. And i made by mad dudas jack. It's just every time every time something asking myself mike. I don't know man same. Can you can just pick bearded guy. It'll be fine evernote. I'm talking about just lady with glasses. Go on the screen and workspace where you're making the avatar. There's incredible to slimmer. It says all products features might not support legs..
"trade commission" Discussed on WSJ What's News
"We report that russian president vladimir putin rebuffed us for basis near afghanistan during june sixteenth summit between the two leaders. That's according to senior u s and russian officials who say the previously unreported exchange undercut. Us plans to act against new terrorist threats in afghanistan after the withdrawal of us troops. They say putin's objection to having american forces in central asian countries complicated. Us plans to base drones and other counterterrorism forces. in countries bordering afghanistan. the issue has been further. Complicated by afghanistan's fall to the taliban over the weekend in afghanistan today. Hundreds of demonstrators in kabul and other cities protested taliban rule carrying the red green and black flag of the government that was ousted by the militant group taliban fighters responded by dispersing peaceful protesters with beatings and gunfire. At least two protesters were killed. Facebook is facing a new antitrust lawsuit from the federal trade commission. The agency filed an amended suit today after a federal judge just missed its original complaint on the grounds that it didn't make sufficient allegations to support. Its claims that facebook is abusing. Its monopoly position in social media. The ftc also denied facebook's request that charleena con and outspoken critic of big tech companies. Be recused from the case in a statement facebook called the lawsuit meritless and denied allegations. That the company is monopolised. We report exclusively that ecommerce giant amazon is planning to expand its brick and mortar presence by opening large retail locations. Similar to department stores sources. Say some of the stores will be located in ohio and california and feature the company's private label goods our tech reporter. Sebastian herrera has more. You know it is kind of ironic because amazon was responsible for some of the downfall of department store chains. Like macy's obviously they. They've had so much. Success online amazon. Has that that really helped. Take down the the big box stores and other getting to a space that has largely suffered for many years department. Stores used to be places that people regularly went to to find everything from toasters to close kitchen items. And i really fell off in the past decade or so is more people. Shopped online and weekly jobless claims continue falling to new pandemic lows it's evidenced the labor market is still recovering despite the threat of the delta variant. The labor department says new applications for unemployment benefits fell by twenty nine thousand last week to a seasonally adjusted three hundred forty eight thousand that marks four straight weeks of declines and is the lowest level since march of twenty twenty coming up will a pressure campaign to freeze international aid to the taliban. Keep the militant group in check. I'm alex your host of the back from there. It's been an extraordinary.
FTC Hits Facebook
"Federal trade commission has revised and expanded. Its antitrust complaint against facebook. A federal judge dismissed earlier suit in june saying it lacked substantiation. The ftc argues facebook's acquisitions of instagram and whatsapp allow the company to monopolize social networking
FTC Files Renewed Antitrust Complaint Against Facebook
"The government is sharpening its antitrust attack on Facebook federal regulators are taking another shot at Facebook alleging the social media giant has abused its market power to suppress competition a federal judge two months ago dismissed anti trust suits from the Federal Trade Commission and the several states saying they did not give enough evidence that Facebook is a monopoly the FTC has now filed a revised version of its complaint even as Facebook Google Amazon and apple face multiplying efforts to rein in their power from the justice department down to state legislatures Sager mag ani Washington
Senators Want FTC Enforcement on Autopilot
"Aren't so pretty. Nice day for tesla stock today shaking off some of the red from earlier this week. Finishing up three and a half percent to six hundred eighty dollars ninety nine cents comparatively. The nasdaq was down nine. Tenths of a percent most of that drop happening in the last hour. Two hours of trading after the fed minutes came out so the minutes from the federal reserve's meeting today indicating that they are considering tapering off their monthly asset purchases sometime in the near term but obviously those things can and often do change so the market reacting to that towards the end of trading and tesla got pulled down a bit as well so pretty strong day for automakers just across the board today so we ejected on this yesterday but will check in again today probably for the last time this week but weekday performance so far tussles down about four percent a little bit less than four percent so far and actually now doing about a half a percent to full percentage point better than gm. Ford's atlanta's volkswagen and neo so despite all the coverage of the knits investigation. If you'd just slept through the first few days of the week which is actually not a bad strategy for an investor and you just looked at automaker performances we to date. You'd have no idea that there was investigation on tesla. And you'd probably say oh tesla's having a pretty good week relative to others so markets down today tesla up and that was despite reports that two. Us senators are currently urging the federal trade commission to open a probe into whether or not tesla used deceptive marketing practices involving drivers systems features which tesla of course calls autopilots and full. Self-driving that is per the wall street journal. They write quote in a letter to the head of the fdic. We con dated wednesday senators. Richard blumenthal of connecticut and ed markey of massachusetts said they have serious concerns about how tesla advertises. Its advanced driver assistance features. Which don't enable vehicles to operate autonomously. They took aim chief executive elon. Musk for some of his comments and quote.
Sonos Stock Is Surging. A Patent-Suit Win Against Google Lifts Hopes.
"Today. This is the high end speaker company. This was not an earnings win for sonos. This was a legal win. They are in a courtroom battle with google. And the an international trade commission. Judge ruled that google has infringed on some of sonos audio technology patents. And i guess if you're a shareholder of sonos you you don't care where the wind comes from but it's interesting. It's always interesting to me when this type of thing happens where it's not the business got better although maybe it did. Maybe the business did get better. If this means that google this paves the way for google not being able to compete with sonos to the degree that they would like. Yeah i mean there's there's plenty to unpack as far as what this decision actually means. I mean i think the big picture takeaway right now. It's a very difficult time to be big tech in the sense that you have to figure that any organization with any sway whatsoever is very open the handing out whatever losses whenever they can and so that that that i think is something that could certainly play at not only in sonos disfavor but but other smaller companies out there that are utilizing technology in some capacity to build out their business models. I mean that was something that sonos quoted here. I mean they're listening. They're they're trying to level the playing field for competition out there. It's just it's difficult when you have big tech that is so entrenched and they're now trying to become sort of all things to all people makes it very difficult for for other companies out there to compete and you look at. What sonos does i mean. This is a company that sells really speakers. I mean when you when you get right down to it and that is a very competitive industry. You've got amazon out there doing the same thing you've got get alphabet doing the doing the same thing and plenty of others in so. I think this
"trade commission" Discussed on KFI AM 640
"Trade Commission says more than 300,000 people filed complaints about pandemic scams between January of last year in July of this year, we're watching your drive on the 10. Yeah, thankfully, not as bad as we feared if you were with us last time around no problem. Eastbound tenant City terrorists that's about well halfway between the five and the 17 going out towards the Alhambra. Five drivers mixed it up, but we understand getting over to the shoulders, so really, not a problem. Now going the other way. A good comparison. Now the westbound to 10 to 10 to 60 from the 605. Now to the West. They're all in pretty good shape, especially the Pomona Freeway. Gosh, it's wonderful all the way in the 10 and the to 10 the kind of morning drive slow going out, but not too bad and going into Orange County. Now south four or five the beach cities going through Orange County. Slow through the construction zone that's predictable for a while, until they get that all wrapped up. But so little bit moving down towards the 55. Not too bad that we're just getting word of another section of the 60 that just got in big trouble. This is westbound 60 at Azusa. That's in between 57 605 middle lanes blocked everything has stopped. We get around that pretty easy don't go away more coming up. Injured in an accident visited Superwoman Super Lawyer Com KF Get You there Faster! I'm Jeff, uh, Enjoy. You gotta cause shapes. We all I want to introduce you. The Thundercats Technology. Thunder Cat Technology is a premier provider of I T solutions not only for government organizations but educational institutions and commercial enterprises as a leader in cybersecurity infrastructure, Unified Communications and cloud technology.
"trade commission" Discussed on Pod Save America
"Up their voices to call out wrongdoing. That continues to happen. This happens there are plenty of things that are going to destroy your be and are not going to be antitrust violations. I don't think that's fair to say. I think that's really. That's really uncalled for. Some of my best friends are airlines. Yes like people should continue to raise the wishes of how expensive of their cheated. They need to keep you know whether it's through twitter or calling the competition reporting it to their ag or federal trade commission. That's what it needs to have to compete or consumers but no amount consumer copetition or consumer complaining. I should say no amount of consumer complaining and address address an antitrust violation because our inherent in the term antitrust violation. Isn't there's not enough competition for the consumers to shop with your pocket box that needs to go find a company that treats them better. Most people read were on houses. Have one choice of an internet provider. So your choice is get ripped off or don't have wifi so you can complain. All you want tides. You know cox some Other wrong spectrum. You expect it wherever you want to go out with them yet. None of them are good. You are you're not able to choose with your your jamaica. Humor twice to pick a different company. That's one of the things that this executive order will do is make clear that they can't lock we awards into only allowing one internet service provider service. Billy's nothing to create choices for consumers slam.
"trade commission" Discussed on WSJ Tech News Briefing
"Yesterday the senate confirmed lena con to a seat on the federal trade commission. The thirty two year old columbia university professor has been a vocal critic of big tech companies and. She's advocated for sweeping changes to antitrust enforcement with her confirmation secured. President biden is designating her as ftc. Chair the post will allow her to pursue an aggressive antitrust and consumer protection agenda so for more on khan and how she could shape the ftc. Enjoy our legal affairs. Reporter brent kendall. Hey thanks for being here. Thanks for having me okay. So tell us about khan's background here. Where does she come from so she has been on the fast lane star track of the progressive movement in terms of antitrust which she was a reporter wrote pieces for different publications went to law school and wrote this law review article about amazon. The thesis which was that antitrust law just doesn't really work to restrain companies like amazon. And how they've built their business and so she kind of skyrocketed from there she's been a legal adviser for progressive group. That is advocated for a wholesale change in antitrust enforcement. She went and worked on the hill for this house antitrust subcommittee that did this big investigation of tech firms and was a big piece of that and this report the democratic staffer at the end of this investigation making all sorts of recommendations that that congress rain tech company and so this all comes at a time. You know we're sees risen up these ranks and then got this nomination for the ftc from president biden. Which will now put her in theory at least in a position to try to put some of her views into
"trade commission" Discussed on WSJ Tech News Briefing
"She's been a vocal critic of big tech companies and said companies like amazon. Might need to be broken up and khan was just confirmed as a commissioner at the federal trade commission and president biden is tapping her as ftc. Chair until you show our legal affairs reporter. Brent kendall will join us to explain how she could shape. The ftc going forward and what that could mean for tech companies. That's after these headlines. In recent years the big four accounting firms have invested billions of dollars in cloud based and other technologies. The latest pricewaterhouse coopers says plans to spend twelve billion dollars and higher hundred thousand people in areas like artificial intelligence and cybersecurity by twenty twenty six. Pws's us chairman says. The investments are aimed at better advising companies that are facing scrutiny on issues like privacy diversity and sustainability and video game studios are being targeted by hackers in recent months. We've seen hackers steal data as well as the source code for popular games and the libraries of code and game engines used to create them and rather than demanding payment in exchange for not publishing the source code. Hackers have instead threatened to auction it on the dark net our reporter james rendel says the trend highlights a challenge unique to the video game industry so perhaps from other sectors that we've seen in the news searches over gasol. The medical sector businesses pretty predicated on data coming in and ask the students the pow the games which makes it difficult to really track monitor that use using off the shelf tools. A lot of this stuff is bespoke. In addition the very nature of the most prized assets such as the source code such as the game engines are digital in nature. Which means that it's does get in. They can easily transfer outs. And then you have. The vast amounts of money that currently surrounds the video game industry as a whole last year. It's actually managed to produce revenue those greater than both movies and sports. In north america combined are coming up after the break. President biden is tapping a prominent critic of big tech to lead the ftc. So what could that mean for the tech giant extra. Don't miss the limited episode podcast series sustainably speaking featuring trail-blazing leaders discussing how to improve sustainability and address climate change through innovation. Join joshua bach from america's plastic meakers for these final discussions with policymakers academics and industry pioneers about partnerships and policies that support advancements to meet this.