The Federal Trade Commission (FTC) is continuing to oppose the Microsoft-Activision merger with a last-minute appeal against a judge’s ruling, while the big tech companies were voicing their eagerness for the merger they say will not harm competition. The FTC on Thursday night asked (pdf) the San Francisco-based 9th U.S. Circuit Court of Appeals, which…
Twitter Seeks Termination of FTC Order Over Data Practices
Twitter asked a U.S. court on Thursday to terminate a consent order with the Federal Trade Commission that governed the social media company’s data privacy protections, arguing that the regulatory agency has made “unceasing demands.” In a filing with U.S. District Court in San Francisco, Twitter accused the FTC of bias and overreach, saying it…
Strong Big Bank Earnings Lift Wall Street at Open
Wall Street’s main indexes opened higher on Friday after three of the country’s top lenders including JPMorgan Chase and Wells Fargo commenced second-quarter earnings for big U.S. banks on a strong note. The Dow Jones Industrial Average rose 30.19 points, or 0.09 percent, at the open to 34,425.33. The S&P 500 opened higher by 4.57…
Twitter to Offer Ad Revenue Share to Select Content Creators
Twitter said on Thursday that select content creators on the social media platform will be eligible to get a part of the advertising revenue the company earns. The content creators will get a share of revenue from ads displayed in their replies, Twitter said, adding that to be eligible the creators should be verified users…
Private-Equity Firms Are Buying Out Medical Practices and Raising Prices for Americans: Study
July 14, 2023
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Private-equity firms have been buying up individual physician practices at a rapidly increasing rate over the past decade and raising prices for millions of Americans, according to a study released this week. The rise in acquisitions by investor groups of market share in the health care industry are leading to higher treatment costs, the study showed. When private…
Small-Business Optimism Rises, but Inflation Concerns Remain Persistent
July 14, 2023
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American small-business confidence slightly climbed to a seven-month high last month, but concerns about inflation remain persistent, according to a recent report. Pessimism over the U.S. economy diminished sharply, while sales expectations improved, but a persistently tight labor market is continuing to concern analysts about future inflation rates. The National Federation of Independent Business (NFIB)…
Ex-CEO of Bankrupt Cryptocurrency Exchange Celsius Arrested, Charged With Fraud
July 14, 2023
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The former CEO of bankrupt cryptocurrency lending platform Celsius Network, Alexander Mashinsky, has been arrested and is facing a string of charges for allegedly misleading investors and manipulating the price of the company’s crypto token, the Department of Justice announced on July 13. Mr. Mashinsky was arrested Thursday and charged with securities fraud, commodities fraud, and wire fraud for defrauding…
World Stocks Hit New 2023 Highs After Rally on Inflation Data
July 14, 2023
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LONDON—World stocks extended their gains on Friday, on track for their biggest weekly rise this year, while the dollar held near 15-month lows as investors bet that the U.S. Federal Reserve was nearing the end of its rate-hiking cycle. Data on Wednesday showed U.S. consumer prices growing at their slowest pace in more than two…
Meta Vows to Deal With ‘Hate Speech’ in Upcoming Vote on Changing Australia’s Constitution
July 14, 2023
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Mark Zuckerberg’s Meta (formerly Facebook) will provide a “one-off funding boost” to third-party fact-checkers in the lead-up to a national referendum on whether to change the Australian Constitution. The tech giant will work with RMIT CrossCheck to monitor “misinformation trends” leading up to the contentious Indigenous Voice to Parliament proposal, and will share guidance on…
State AGs Tell Top 100 CEOs That SCOTUS Affirmative Action Ruling Applies to Them Too
July 14, 2023
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State attorneys general from Tennessee, Kansas, and 11 other states put 100 of America’s largest corporations on notice that, following the Supreme Court decision against racial discrimination at Harvard and the University of North Carolina, private companies would be held to the same standard. In a July 13 letter to CEOs of Fortune 100 companies,…
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