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EXPLAINED: 67 - The Real Truth

On acquisitions, Beltway and tech talk past each other

Regulators see acquisitions as a path to monopoly. The industry sees them as how the business works.

Axios

Amazon: FTC probe hounding Bezos, execs; subpoenas too broad

Amazon has complained to federal regulators that they're hounding company founder Jeff Bezos and senior executives

The Independent UK

Amazon claims FTC is 'harassing' executives like Bezos and Jassy

The company claims the FTC’s subpoenas for evidence are unusually burdensome.

Input

From analysis to the latest developments in health,
read the most diverse news in one place.

FTC looking at rules to corral tech firms' data collection

Whether it's the fitness tracker on your wrist, the “smart” home appliances in your house or the latest kids’ fad going viral in online videos, they all produce a trove of personal data for big tech companies

The Independent UK

Two Right To Repair Class Action Lawsuits Have Been Filed Against Harley

Two class action lawsuits have been filed in federal court against Harley-Davidson, seeking damages stemming from what they claim are numerous violations.

RideApart

Pro-Trump brand fined for using fake ‘Made in USA’ labels

Utah-based company Lions Not Sheep was first cited by the FTC in May for replacing ‘Made in China’ tags on their clothing

The Guardian - US

GOP’s Phillips to leave FTC, boosting Khan’s advantage

Republican Federal Trade Commissioner Noah Phillips said he plans to step down this fall, which will hand an even bigger majority to progressive Chair Lina Khan to advance her agenda.

Tribune News Service

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U.S. Kills Al Qaeda Leader Ayman Al-Zawahiri. Will It Matter?

Plus: Judge rejects "terrorism" label for January 6 defendant, dozens of abortion clinics have closed since June, FTC staff recommended against Meta lawsuit, and more...

Reason

FTC’s Khan overruled staff to sue Meta over VR app deal

Federal Trade Commission Chair Lina Khan led her fellow Democrats in the agency’s majority vote to sue Meta Platforms Inc. this week, despite the staff recommending against bringing a case to challenge the company’s acquisition of Within Unlimited Inc., according to three people with knowledge of the decision.

Tribune News Service

Meta Can't Buy V.R. Fitness Company, Must Make Its Own Competing App, Says FTC

Plus: A rebranded "Build Back Better," the two-party system creates "a disconnect between elites and non-elites," and more...

Reason

Benzinga Before The Bell: Apple's Latest Move For Self-Driving Car Project, Monkeypox Is A National Emergency, Spirit-Jet Blue Merger And Other Top Financial Stories Thursday, July 28

Reuters

Benzinga

Watchdog head: Bad actors should face more than big fines

The head of the nation’s financial watchdog is having second thoughts about using fines to deter illegal behavior in the financial industry, saying some companies have gotten so big that the money makes little difference

The Independent UK

Facebook's Meta Posts First-ever Revenue Drop

Facebook-parent Meta reported on Wednesday its first quarterly revenue drop and a plunging profit as the social media powerhouse battles a turbulent economy and the rising phenomenon of TikTok.

Asharq Al-Awsat

FTC takes first major step in blocking Meta's monopoly on the metaverse

The FTC filed a complaint to block Meta's acquisition of Within, the developer of VR fitness app, Supernatural.

Input

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The Independent UK

FTC acts to block Meta from buying VR company, fitness app

Federal regulators have taken legal action to block Facebook parent Meta and its CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural

The Conversation

Tech firms face more regulation after moves to stop 'killer' acquisitions – but innovation could also be under threat

One way to eliminate the competition in business is simply to buy them out and shut them down. And that means less choice for consumers and sometimes the loss of innovative and, in the case of the pharmaceutical industry, even life-saving products. But such so-called killer acquisitions are likely to…

Tribune News Service

Biden’s FTC has blocked 4 hospital mergers and is poised to thwart more consolidation attempts

Fresh off the Federal Trade Commission’s successful challenges to four hospital mergers, the Biden administration’s new majority on the commission is primed to more aggressively combat consolidation in the health care industry than it has in past years.

Daily Mirror

Consumer watchdogs in the UK and US join forces to recover millions for scam mail victims

Crooks used official-sounding names such as Award Notification Commission to con victims

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Tribune News Service

Data privacy, abortion limits set to collide post-Roe

WASHINGTON — The Supreme Court’s decision to overturn the federal right to abortion is likely to create a clash between state-by-state abortion restrictions and the patchwork of data privacy laws that are being legislated in the absence of a federal privacy law.

Roll Call

Data privacy, abortion limits set to collide post-Roe - Roll Call

After of the recent Supreme Court abortion decision, concerns about data collection being used to track women's reproductive choices grows.

USA Today Sports Media Group

Microsoft’s acquisition of Activision Blizzard might be approved next month

The FTC is still investigating, but an official ruling likely isn't far off.

Financial Times

Lipsticks, lattes . . . and now labradors: JAB’s bet on pets

Holding company’s investments in vets and insurance are under scrutiny from competition officials

Input

FTC re-ups commitment to keeping private data anonymous, offers no solutions

Acting associate director Kristin Cohen says companies that make false claims about anonymization can "expect to hear from the FTC."

Chicago Sun-Times

Justice Department antitrust division looking into PGA Tour-LIV Golf dispute: report

At issue is the PGA Tour’s policy that members receive a conflicting event release to play tournaments overseas when a tour event is being held that week.

Input

OkCupid under FTC lens over claims it sold user pics to facial recognition firm

OkCupid's parent company, Match.com, is really keen on keeping any information on the subject away from prying eyes.

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