Monday, December 23

Tag: Federal Trade Commission

FTC chair Lina Khan on playing “Anti-Monopoly”
14Apr By adminNo Comments
Money

FTC chair Lina Khan on playing “Anti-Monopoly”

FTC chair Lina Khan on playing "Anti-Monopoly" - CBS News Watch CBS News For corporate America, Federal Trade Commission chair Lina Khan has emerged as a hard-charging cop on the monopoly beat. As a watchdog and warden of competition in business, the agency tries to protect consumers from the outsized power of corporations. CBS News chief election and campaign correspondent Robert Costa talks with Khan about going after Big Tech, Big Pharma, and the biggest online retailer of them all, Amazon. Be the first to know Get browser notifications for breaking news, live eve...
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IBM, Microsoft and Big Tech Antitrust Folly
21Oct By adminNo Comments
Health

IBM, Microsoft and Big Tech Antitrust Folly

The continuing trial of Google, along with lawsuits against Amazon and Meta, have brought antitrust back into the public eye. These suits recall the 1969 case against IBM and the 1998 case against Microsoft, the great antitrust battles of the latter half of the 20th century.Supporters of aggressive antitrust enforcement think that only antitrust suits prevented IBM from commandeering the personal-computer market and Microsoft from taking over the internet. But that’s an urban legend.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Americans reported $2.7 billion in losses from scams on social media, FTC says
6Oct By adminNo Comments
Money

Americans reported $2.7 billion in losses from scams on social media, FTC says

Online fraudsters have taken billions of dollars from Americans in recent years and they are using social media to do it.Since 2021, Americans lost $2.7 billion in scams from social media, the Federal Trade Commission said in a scam report published Friday. And that figure is only a fraction of the actual harm, as most cases of fraud go unreported, the agency noted. People continue to fall victim to social media scams in part because criminals have a trove of techniques they use for finding their prey, Emma Fletcher, a senior data researcher for the FTC, wrote in an analysis of the scam report. "They can easily manufacture a fake persona, or hack into your profile, pretend to be you, and con your friends," Fletcher said. "They can learn to tailor their ...
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The F.T.C. Finally Takes On Amazon
3Oct By adminNo Comments
Entertainment

The F.T.C. Finally Takes On Amazon

Lina Khan, the chair of the Federal Trade Commission, established her prominence as a legal scholar largely by critiquing Amazon’s sprawling business. In 2017, while she was still a student at Yale Law School, she published a paper titled “Amazon’s Antitrust Paradox,” which argued that the accepted paradigm for analyzing antitrust violations was outdated. In the nineteen-seventies, American antitrust enforcement increasingly prioritized the so-called “consumer welfare” standard, which centered on the idea that consumer prices were the most important factor in judging whether a firm was engaged in anticompetitive behavior.Khan’s argument against the dominance of the consumer-welfare standard rested on an analysis of the business practices of Amazon—which she called “the titan of twenty-fir...
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Five takeaways from the FTC’s 172-page antitrust lawsuit against Amazon
30Sep By adminNo Comments
Technology

Five takeaways from the FTC’s 172-page antitrust lawsuit against Amazon

Washington CNN  —  An antitrust lawsuit from 17 states and the Federal Trade Commission this week against Amazon represents the US government’s biggest regulatory challenge yet against the e-commerce juggernaut. The landmark case targets Amazon’s retail platform, alleging that it’s harmed shoppers and sellers alike on a massive scale. Through an alleged “self-reinforcing cycle of dominance and harm,” the plaintiffs claim, Amazon has run an illegal monopoly in ways that are “paying off for Amazon, but at great cost to tens of millions of American households and hundreds of thousands of sellers.” In response, Amazon has argued the case is “wrong on the facts and the law” and warne...
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FTC and 17 states file sweeping antitrust suit against Amazon
26Sep By adminNo Comments
Money

FTC and 17 states file sweeping antitrust suit against Amazon

The Federal Trade Commission and 17 state attorneys general on Tuesday filed a widely anticipated antitrust case against Amazon, alleging the retailing giant illegally wields monopoly power to maintain higher prices, harming customers and weakening competition."Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies," FTC Chair Lina Khan said in a statement. "The complaint sets forth detailed allegations noting how Amazon is now exploiting its monopoly power to enrich itself while raising prices and degrading service for the tens of millions of American families who shop on its platform and the hundreds of thousands of businesses that rely on Amazon to reach them."She added, "Today's lawsuit seeks to hold Amazon to account fo...
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The US government and 17 states sues Amazon in landmark monopoly case
26Sep By adminNo Comments
Technology

The US government and 17 states sues Amazon in landmark monopoly case

CNN  —  The US government and 17 states are suing Amazon in a landmark monopoly case reflecting years of allegations that the e-commerce giant abused its economic dominance and harmed fair competition. The groundbreaking lawsuit by the Federal Trade Commission and 17 attorneys general marks the government’s sharpest attack yet against Amazon, a company that started off selling books on the internet but has since become known as “the everything store,” expanding into selling a vast range of consumer products, creating a globe-spanning logistics network and becoming a powerhouse in other technologies such as cloud computing. The 172-page complaint alleges Amazon unfairly promotes its own platform a...
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Fortnite players can claim funds in Epic Games settlement
19Sep By adminNo Comments
Technology

Fortnite players can claim funds in Epic Games settlement

New York CNN  —  Millions of Fortnite users can now claim their small part of the $245 million that the game’s parent company agreed to pay as part of a settlement with the US Federal Trade Commission. Epic Games in December settled allegations with the FTC that it used deceptive tactics that drove users to make unwanted purchases in the multiplayer shooter game that became wildly popular with younger generations a few years ago. The FTC said Tuesday it has now opened the claims process for the more than 37 million potentially affected users who could qualify for compensation. Epic Games agreed in December to pay a total of $520 million to settle US government allegations that it misled millions of...
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