Investor Alert


Federal Trade Commission

12:09 p.m. June 15, 2021 - By Victor Reklaitis
Big Tech critic Lina Khan to chair FTC: reportsLina Khan, a critic of Big Tech companies, is expected to chair the Federal Trade Commission, according to multiple published reports. The 32-year-old Khan, who was , currently teaches at Columbia Law School and is well known for a paper on Amazon.com Inc. and antitrust. Democratic Sen. Elizabeth Warren of Massachusetts praised the news , saying: "With Chair Khan at the helm, we have a huge opportunity to make big, structural change by reviving antitrust enforcement and fighting monopolies that threaten our economy, our society, and our democracy."
8:50 a.m. June 15, 2021 - By Robert Schroeder
Big Tech critic Lina Khan confirmed to Federal Trade Commission by SenateThe Senate on Tuesday confirmed Lina Khan, a critic of Big Tech companies, to the Federal Trade Commission in a 69-28 vote. The 32-year-old Khan currently teaches at Columbia Law School and is well known for a paper on Amazon.com Inc. and antitrust. In her confirmation hearing in April, Khan signaled she would toward tech giants.
5:46 a.m. June 1, 2021 - By Jillian Berman
‘If it got too successful it would be destroyed’: Remembering the Tulsa massacre, when a white mob destroyed ‘Black Wall Street’ 100 years ago In roughly 24 hours, the mob destroyed an estimated $1.47 million — or more than $20 million in today’s dollars — of Black-owned homes and businessesIn roughly 24 hours, the mob destroyed an estimated $1.47 million — or more than $20 million in today’s dollars — of Black-owned homes and businesses.
7:50 a.m. April 27, 2021 - By Victor Reklaitis
All of President Biden’s key executive orders — in one chart Memorandums, proclamations, other executive actions also deployed Memorandums, proclamations, other executive actions also deployed As people and markets around the world adjust to having Joe Biden as U.S. president, a key factor is what the veteran Democratic politician aims to accomplish without having to work with Congress.
11:32 a.m. March 22, 2021 - By Robert Schroeder
Biden to nominate antitrust expert Lina Khan as FTC commissionerPresident Joe Biden announced Monday he'll nominate Lina Khan as a commissioner of the Federal Trade Commission. Khan is currently an associate professor at Columbia Law School, specializing in antitrust, infrastructure industries law and the antimonopoly tradition, the White House said. Khan previously advised the U.S. House Judiciary Committee's antitrust subcommittee.
11:56 a.m. Feb. 22, 2021 - By Chris Matthews
Senate panel to hold nomination hearings for SEC, CFPB heads on March 2The Senate Committee on Banking, Housing and Urban Affairs announced Monday that it will hold nomination hearings for President Joe Biden's picks to lead the Securities and Exchange Commission and the Consumer Financial Protection Bureau on March 2 at 10 a.m. Eastern Time. Biden nominated former Commodity Futures Trading Commission Chairman Gary Gensler to lead the SEC and current Federal Trade Commissioner Rohit Chopra to lead the CFPB. If confirmed, Chopra would leave his FTC post.
12:32 p.m. Feb. 12, 2021 - By Elisabeth Buchwald
A majority in the U.S. personally know somebody who has been vaccinated against COVID-19 and watch out for these key dates Friday’s top personal finance stories Friday’s top personal finance storiesFriday’s top personal finance stories
8:58 a.m. Feb. 4, 2021 - By Jon Swartz
Sen. Klobuchar introduces antitrust bill that would challenge big tech mergersSen. Amy Klobuchar (D., Minn.) on Thursday introduced a bill that would make it easier for the Justice Department and Federal Trade Commission to challenge tech mergers while also giving both agencies more money for staff. An aide for the newly-named chair of the Antitrust Subcommittee said the legislation won't single out big tech companies like Apple Inc. , Alphabet Inc. , Amazon.com Inc. and Facebook Inc. already under investigation for their business practices. Every deal will be subject to the new standard, which conceivably would impact the entire tech industry.
6:20 a.m. Feb. 2, 2021 - By Tomi Kilgore
Amazon to pay $61.7 million to settle FTC charges that it didn't pay Flex drivers all their tipsAmazon.com Inc. agreed to pay more than $61.7 million to settle charges by the Federal Trade Commission, which alleges the ecommerce giant failed to pay Amazon Flex drivers the full amount of tips received over a 2 1/2-year period. The FTC said Amazon only stopped its behavior after the company became aware of an investigation in 2019. "Rather than passing along 100% of customers' tips to drivers, as it had promised to do, Amazon used the money itself," said Daniel Kaufman, Acting Director of the FTC's Bureau of Consumer Protection. "Our action today returns to drivers the tens of millions of dollars in tips that Amazon misappropriated, and requires Amazon to get drivers' permission before changing its treatment of tips in the future." Amazon's stock rose 1.7% in morning trading, while the S&P 500 gained 1.6%.
6:51 a.m. Dec. 27, 2020 - By Quentin Fottrell
My aunt stole my mother’s Social Security, and persuaded my elderly father to sign over power of attorney ‘My father was recently very sick and in the hospital, and he was not in his right mind’‘My father was recently very sick and in the hospital, and he was not in his right mind.’
6:57 a.m. Dec. 19, 2020 - By Paul Brandus
Watch out for these pandemic and holiday scams Bad guys don’t take a holidayBad guys don’t take a holiday
1:17 p.m. Dec. 11, 2020 - By Meera Jagannathan
Students locked into ‘unforgiving’ rents amid college confusion, and does COVID-19 have the power to revolutionize work? This economist says yes Friday’s top personal finance stories Friday’s top personal finance storiesFriday’s top personal finance stories
8:03 a.m. Dec. 2, 2020 - By Sean Pyles
What you should know about new rules affecting debt collectors Know your rights—why some consumer advocates are concernedConsumer advocates say revisions the Fair Debt Collection Practices Act don’t go far enough or could have unintended consequences.
8:54 a.m. Nov. 13, 2020 - By Jon Swartz
FTC chairman warns of antitrust threat as Facebook braces for actionIn a speech that could foreshadow antitrust action against Facebook, Federal Trade Commission Chairman Joe Simons warned Thursday that antitrust regulators should be concerned about dominant companies scooping up startups that are competitive threats. "A monopolist can squash a nascent competitor by buying it, not just by targeting it with anti-competitive actions," Simons said at an American Bar Association conference. "It may be easier and more effective to buy the nascent threat, only if to keep it out of the hands of others." Facebook has been criticized for its acquisitions of Instagram and WhatsApp in building its market influence, according to legal experts and privacy advocates.
4:15 a.m. Nov. 12, 2020 - By Tomi Kilgore
Altria to convert its non-voting JUUL shares to voting shares, but will remain a 'passive investor'Altria Group Inc. said it has chosen to convert the non-voting shares of e-cigarette company JUUL Labs Inc. it owns to voting shares. Altria said, however, that it does not intend to exercise its rights as part of the conversion to elect directors to JUUL's board, or to use its voting power other than as a "passive investor," pending the outcome of litigation with the U.S. Federal Trade Commission. In December 2018, for $12.8 billon, with conversion to voting shares contingent on antitrust clearance. In April 2020, . Altria's stock, which slipped 0.4% in premarket trading, has dropped 20.3% year to date, while the SPDR Consumer Staples Select Sector ETF has gained 6.1% and the S&P 500 has advanced 10.6%.
2:45 a.m. Oct. 19, 2020 - By Ciara Linnane
Earnings season is highlighting the uneven playing field in the year of the pandemic ‘The equity market is showing a lot of optimism, but below the surface, there’s an ocean of companies that are dealing with a crisis,’ says CEO of Rapid RatingsThe U.S. third-quarter corporate earnings reporting season will kick off this week and the numbers will reflect a second quarter dominated by the coronavirus pandemic that has created an uneven playing field in which some companies thrive, while others shrink and fade.
4:53 a.m. Oct. 17, 2020 - By Jonathan Burton
Jim Steyer: Only a breakup of Facebook and controls on social media can reduce disinformation and lies on the internet Neither Big Tech’s response nor the law have been strong enough to shield users from harm, says the founder of Common Sense MediaNeither Big Tech’s internal response nor the law have been strong enough to shield users from harm, says the founder of Common Sense Media.
5:06 a.m. Oct. 12, 2020 - By Chris Matthews
A Barrett court would continue Trump’s deregulatory agenda long after he’s left the White House, experts say Amy Coney Barrett is likely to be a pro-business justice, if confirmedJudge Amy Coney Barrett’s nomination to the Supreme Court has brought the public’s attention to divisive social issues like abortion rights, but replacing the late Justice Ginsburg with a more conservative voice could have an equally important effect on business regulation and the economy.
4:48 a.m. Oct. 10, 2020 - By Jon Swartz
If the Democrats win the Senate, Big Tech better be ready for a bigger fight Senators set to become leaders under a Democrat majority have sought to establish new antitrust law, break up tech companies Democratic senators have signaled a willingness to make substantial changes to antitrust law and advocate breakups of the largest American tech companies, including campaigning for president on the issue. If the party can flip four seats, those same senators — such as Amy Klobuchar of Minnesota and Elizabeth Warren of Massachusetts — could be in position to act against some of their favorite targets, including Facebook Inc. and Google parent Alphabet Inc.
2:11 p.m. Oct. 6, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 210,000 as doctors say Trump’s comments on COVID-19 are sending the wrong message Experts were hoping Trump’s brush with COVID-19 would lead to greater focus on public health measures, including face masksThe U.S. death toll from the coronavirus pandemic climbed above 210,000 on Tuesday, as doctors and health experts lamented President Donald Trump’s latest comments on COVID-19, with many fearing they are sending the wrong message to the American public.
1:21 p.m. Oct. 1, 2020 - By Jon Swartz
Here’s where Biden and Trump stand on antitrust, social media and other tech issues No matter who wins the presidential race, expect Big Tech to continue to be a target for Republicans and Democrats alikePresident Donald J. Trump and former Vice President Joseph R. Biden Jr. don’t agree on many issues, but they do share a wariness toward Big Tech that should maintain or even escalate antitrust scrutiny of the largest U.S. tech companies no matter who wins on Nov. 3.
10:11 a.m. Oct. 1, 2020 - Associated Press
Senate committee set to subpoena Facebook’s Zuckerberg, Twitter’s Dorsey, Google’s Pichai Hate speech, misinformation and perceived political bias on the internet platforms to be topics explored in testimony by Silicon Valley titansHate speech, misinformation and perceived political bias on the internet platforms to be topics explored in testimony by tech titans.
4:02 p.m. Sept. 15, 2020 - By Jon Swartz
Sacha Baron Cohen, Kim Kardashian West and other celebrities have declared open season on Facebook Sacha Baron Cohen and his celebrity brethren have a bone to pick with Facebook Inc. over misinformation and hate on its sprawling digital platforms.Sacha Baron Cohen and his celebrity brethren have a bone to pick with Facebook Inc. over misinformation and hate on its sprawling digital platforms.
3:43 p.m. Sept. 15, 2020 - By Jeremy C. Owens
Facebook stock falls after report of potential for FTC antitrust lawsuit this yearFacebook Inc. shares fell 3% in after-hours trading Tuesday after a report that the Federal Trade Commission is preparing to file an antitrust lawsuit against the social-media giant. that the FTC is considering filing the suit by the end of the year, based on unnamed sources. The Journal reported that Facebook Chief Executive Mark Zuckerberg has testified to FTC staff in the investigation, which the Journal noted could still end without charges as the five-member commission has to vote on filing the lawsuit. Facebook with the Securities and Exchange Commission that it is under investigation by the FTC and the Justice Department for potential antitrust charges. Facebook stock closed Tuesday with a 2.4% gain at $272.42, then ducked lower than $265 in after-hours trades following the release of the report.
3:35 p.m. Sept. 15, 2020 - By Brent Kendall
FTC antitrust suit against Facebook could come by year’s end Government preparing possible lawsuit after investigation into whether social-media giant stifles competitionThe Federal Trade Commission is preparing a possible antitrust lawsuit against Facebook Inc. that it could file by the end of the year, according to people familiar with the matter, in a case that would challenge the company’s dominant position in social media.
2:50 p.m. Sept. 14, 2020 - Associated Press
Rapper T.I. settles federal charges he pushed bogus cryptocurrency $75,000 fine from SEC for illegally promoting FLiKRapper and actor T.I. has settled civil charges with the U.S. Securities and Exchange Commission that he helped promote a fraudulent cryptocurrency.
4:19 a.m. Sept. 12, 2020 - By Jon Swartz
Big Tech is turning on one another amid antitrust probes and litigation Facebook and Microsoft are mad at Apple, Google and Amazon are being targeted by high-profile tech execs, and everybody wonders why Microsoft is avoiding any scrutiny“Battle royale” evokes images of professional wrestlers engaged in a free-for-all brawl in which combatants eventually turn on one another until there is an eventual winner. With apologies to Hulk Hogan and Andre the Giant, Big Tech is taking on the same trappings as companies turn on one another amid multiple antitrust investigations and issues.
6:27 p.m. Sept. 4, 2020 - By Jon Swartz
Facing immense pressure, Facebook had no choice but to ban new political ads week before electionFacebook Inc.’s first action to limit political advertising in the U.S. with a ban of news ads in the week preceding the Nov. 3 elections comes amid unrelenting criticism that its platform fuels misinformation and is a haven for far-right groups.
5:27 a.m. Aug. 22, 2020 - By Jon Swartz
Will videogames be the Achilles heel for Apple, Google in antitrust investigations? As gaming has grown in stature during the pandemic, it has highlighted the extraordinary grip Big Tech has over the everyday lives of Americans. So much so, it just might lead to breakthroughs in antitrust investigations“This is an inflection point, and the start of a long-running debate on how these platforms push us right to the edge of what we are willing to pay,” James Currier, managing partner at NFX, a Silicon-Valley-based venture capital firm.
12:09 p.m. Aug. 20, 2020 - By Claudia Assis
Former top security executive at Uber charged in 2016 hackThe Justice Department has charged former Uber Technologies Inc. executive Joseph Sullivan with obstruction of justice in connection with the company's 2016 hack that exposed personal data of millions of Uber users and drivers. Sullivan, of Palo Alto, Calif., served as Uber's chief security officer between April 2015 and November 2017, when he was ousted after more details about the case emerged, including that The criminal complaint alleges that Sullivan took "deliberate steps to conceal, deflect, and mislead" the Federal Trade Commission about the security breach, in which hackers gained access to an Uber database containing personally identifying information of about 57 million Uber users and drivers, including drivers' license numbers for about 600,000 people who drove for Uber. A spokesperson for Sullivan told The Wall Street Journal the charges were without merit.
6:51 a.m. Aug. 18, 2020 - By Jon Swartz
‘Fortnite’s’ impact could be Epic on antitrust investigations of Big TechPrivately held Epic could prove to be Apple’s most dangerous antagonist, both financially and symbolically.
8:33 a.m. Aug. 15, 2020 - By Andrew Keshner
If you didn’t get a $500 stimulus check for your child, it should be coming soon The IRS is correcting oversights due to a programming error — but a watchdog is complaining some will still have to wait The IRS is correcting oversights due to a programming error — but a watchdog is complaining some will still have to wait.
1:32 p.m. Aug. 11, 2020 - Associated Press
Appeals court overturns antitrust ruling against Qualcomm, in big win for chip maker Earlier ruling would have severely undercut its businessA federal appeals court has overturned an antitrust ruling against Qualcomm, dismissing arguments that it unlawfully squeezed out cellphone chip rivals and charged excessive royalties to manufacturers such as Apple.
9:02 a.m. Aug. 11, 2020 - By Wallace Witkowski
Qualcomm stock rallies on report of appeals court tossing out antitrust rulingQualcomm Inc. shares rallied Tuesday following a report that a U.S. appeals court overturned an antitrust ruling against the chip maker Qualcomm shares, which had earlier had been trading around $107, rallied 4.5% to $111.13 in recent trading after touching an intraday high of $112.01. On Tuesday, a federal appeals court tossed out a trial judge's ruling on the basis that the government hadn't proved Qualcomm had an illegal monopoly. Back in May, a federal judge sided with the Federal Trade Commission in an antitrust suit against Qualcomm, .
11:02 a.m. Aug. 4, 2020 - By Bev O’Shea
You get a call that you’ve been exposed to coronavirus. How to make sure a contract tracer isn’t a scammer Here’s what to look for, and what a legitimate contract tracer will never ask youScammers are masquerading as contact tracers, and it’s smart to verify calls or texts before giving out any information
9:20 a.m. Aug. 4, 2020 - By Jon Swartz
Antitrust questions bruise but don’t break Big Tech CEOs in historic hearing After three hours of questions, expert calls hearing ‘a mix of antitrust ambush and political grandstanding’It was a bruising day tech’s biggest names on Capitol Hill.
8:32 a.m. Aug. 4, 2020 - By Callum Keown
Here’s what history says happens to U.S. stocks in a close election race and in a predictable oneU.S. stocks edged slightly higher early on Tuesday after Monday’s rally, despite U.S.-China tensions rising over TikTok
4:21 a.m. July 30, 2020 - By Therese Poletti
Big Tech painted as the railroad barons of the digital age in antitrust hearing Alphabet receives the most vitriol, but Apple, Amazon and Facebook don’t escape unscathed as we await the next moveFor the most part — if you could tune out the political grandstanding that had nothing to do with antirust — the Congressional hearing on Big Tech gave many pointed examples of how four of the biggest tech companies in the U.S. abuse their dominant power and thwart competition.
1:01 a.m. July 30, 2020 - By Erin Hurd
New spins on old credit card scams: What they are and how to avoid them Protect your identity and money—scammers are always lurking and ready to strikeKnowing how the most common scams work and how to avoid falling for them can keep your money and your identity safe.
4:19 a.m. July 29, 2020 - By Jon Swartz
Congress has a million-plus documents from Big Tech antitrust investigation, and are ready to grill big-name CEOs Bezos, Cook, Pichai and Zuckerberg will testify remotely Wednesday before House antitrust panelFor more than a year, the federal government has circled Big Tech and its business practices. On Wednesday, members of the House of Representatives will roll out evidence their staffs have found and put pressure directly on some of the most prominent executives in the world.
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