The Federal Trade Commission (FTC) on June 7 launched a comprehensive probe into pharmacy benefit manager (PBM) companies—those acting as middlemen that manage prescription drug benefits on behalf of health insurers, large employers, and other payers. According to the FTC, it plans to “examine pharmacy benefit managers’ role at the center of the U.S. pharmaceutical…
Drug Prices Can Drop 50-60 Percent If Practices of Prescription Drug Middlemen Properly Addressed: Former FDA Official
TikTok Poses Threat to Every American User: FCC Commissioner Brendan Carr
A lot of people just see the Chinese app TikTok as a platform for sharing funny videos, but it poses a data security risk, according to Brendan Carr, a commissioner at the Federal Communications Commission (FCC). “They just see TikTok for what it appears to be on the surface, but that’s just the sheep’s clothing,”…
1 Billion People’s Personal Data Hacked From Shanghai Police; FCC’s Carr on TikTok and US Data Security
July 8, 2022
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Brendan CarrCCPChinaChina InsiderChristopher WrayEpochTVFBIFCCFTCGlobal ExpansionInfiltrating the WestMI5RubioSenatesocial controlSpecial TopicsTech CompetitiontechnologyThreat from Communist ChinaTikTokUS-China relations
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Shanghai police get hacked, and 1 billion people’s personal information is being sold online. What do we make of this? Usually, it’s the Chinese regime that steals data and trade secrets, like with TikTok recently. What happens if it is on the receiving end? Meanwhile, FBI Director Christopher Wray once again calls China the top…
Surging Drug Prices Targeted in US Study of Pharmacy Giants
The U.S. Federal Trade Commission is looking into how big pharmacy benefit managers like CVS Caremark affect pricing and patients’ access to prescription drugs at a time when costs of some medicines, even older ones like insulin, have skyrocketed, the agency said Tuesday. As part of the probe, the FTC is sending demands for information…
Federal Trade Commission Launches Inquiry Into Baby Formula Shortage
The Federal Trade Commission (FTC) on Tuesday launched an inquiry into the ongoing shortage of baby formula in the United States. In a statement, the FTC said the inquiry seeks information on the “nature and prevalence of any deceptive, fraudulent, or otherwise unfair business practices aimed at taking advantage of families during this shortage.” The…
Nvidia’s $40 Billion Arm Deals Faces FTC Roadblock
The Federal Trade Commission has sued to block U.S. chip supplier Nvidia Corp.’s $40 billion acquisition of the SoftBank Group Corp.-backed UK chip design provider Arm. FTC Bureau of Competition Director Holly Vedova said the proposed vertical deal could offer the influential chipmaker control over the computing technology and designs relied on by the rivals…
Biden Asks FTC to Probe Energy Companies for Possible ‘Illegal Conduct’ as Gas Prices Soar
November 17, 2021
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anti-competitiveBusiness & EconomyBusinesses in COVID-19CompaniesEconomieseconomyExecutive BranchFTCgas pricesMarketsPoliticsUSUS News
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President Joe Biden has called on the Federal Trade Commission (FTC) to probe possible anti-competitive or “illegal conduct” by oil and gas companies that may have pushed up prices at the pump, drawing a critical reaction from a major oil lobby that blamed the president’s policies for stifling American energy production. Biden said in a…
Facebook Files Motion to Toss FTC Antitrust Suit
Facebook on Monday filed a motion to dismiss the Federal Trade Commission’s lawsuit that accused the social media giant of illegal monopolistic practices. In its Oct. 4 filing (pdf), the social media company argued that the FTC failed to make a valid case for claiming that Facebook has monopoly power in the social media market….
Facebook Investor: Company Paid $5 Billion to FTC as ‘Quid Pro Quo’ to Shield Zuckerberg
A recently filed lawsuit against Facebook reveals new details about the Cambridge Analytica scandal, claiming among other allegations that company executives massively overpaid the Federal Trade Commission to shield CEO Mark Zuckerberg from personal liability. The lawsuit was filed in a Delaware state court by the Employees’ Retirement System of Rhode Island (ERSRI), following a…
US Panel Votes to Approve $1 Billion for FTC Privacy Probes
WASHINGTON—The U.S. House Energy and Commerce Committee voted on Tuesday to give the Federal Trade Commission $1 billion to set up a bureau dedicated to improving data security and privacy and fighting identity theft. The proposal, which Democrats included in a $3.5 trillion spending measure, would fund a new bureau over 10 years to address…
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