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Search resuls for: "Dave Michaels"


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JetBlue is the country’s sixth-largest carrier, and Spirit ranks seventh. Photo: Wilfredo Lee/Associated PressA federal judge on Tuesday blocked JetBlue Airways from acquiring Spirit Airlines , agreeing with the Justice Department that the $3.8 billion deal would eliminate a competitor important to price-conscious travelers. The Justice Department said JetBlue’s purchase of Spirit would remove an ultra-low-cost carrier that benefits travelers and puts pressure on other airlines to keep down fares. Removing Spirit as a rival would free JetBlue to raise prices by as much as 30%, the government said. JetBlue is the country’s sixth-largest carrier, and Spirit ranks seventh.
Persons: Wilfredo Lee Organizations: JetBlue, Associated Press, JetBlue Airways, Spirit Airlines, Justice Department
Exxon’s proposed takeover of Pioneer Natural Resources would make Exxon the largest oil producer in the Permian Basin of West Texas and New Mexico. Photo: Bloomberg NewsU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources , which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according to data compiled by law firm Dechert.
Persons: Exxon’s Organizations: Pioneer Natural Resources, Exxon, Bloomberg News, Natural Resources, Federal Trade Commission Locations: West Texas, New Mexico
WASHINGTON—When top Biden administration officials gathered last month at the Justice Department to announce a $4.3 billion legal resolution with Binance , one powerful regulator was absent. Attorney General Merrick Garland was there. So was Treasury Secretary Janet Yellen . But Securities and Exchange Commission Chair Gary Gensler wasn’t, even though he has his own legal beef with Binance. The SEC sued the world’s largest cryptocurrency exchange in June and has been the regulatory scourge of the crypto world.
Persons: WASHINGTON, General Merrick Garland, Janet Yellen, Gary Gensler wasn’t Organizations: Biden, Justice Department, Securities, Exchange, SEC
The U.S. Securities and Exchange Commission in Washington, whose special courts are accused of robbing defendants of the right to a jury trial. Photo: Ariel Zambelich/The Wall Street JournalWASHINGTON—The Supreme Court on Wednesday will consider a case that could severely limit the Securities and Exchange Commission’s use of its special in-house courts to punish wrongdoers. Critics have complained about the SEC’s special courts for years, saying they rob defendants, including those accused of fraud, of their right to a jury trial. Administrative law judges, who preside in the in-house courts, are supposed to be independent but are appointed by the same commissioners who authorize the enforcement cases that the judges hear.
Persons: Ariel Zambelich, wrongdoers, Critics Organizations: U.S . Securities, Exchange Commission, Street Journal WASHINGTON, Securities, Exchange Locations: Washington
Binance skirted regulation to become the world’s largest cryptocurrency exchange by trading volume. Now, the company will plead guilty to violating anti-money-laundering requirements in the U.S. and agree to pay $4.3 billion in fines. Photo: Benoit Tessier/ReutersThe king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. But on Tuesday, a jittery Changpeng Zhao showed up in a Seattle federal court to plead guilty to violating U.S. money-laundering rules. So this is new to me,” Zhao told a judge.
Persons: Benoit Tessier, Zhao, “ I’ve, I’ve, ” Zhao Locations: U.S, Seattle
Here’s how the strategy behind Binance’s rise under Changpeng Zhao brought it crashing down. Photo: Benoit Tessier/ReutersThe chief executive of Binance , the largest global cryptocurrency exchange, stepped down and pleaded guilty to violating criminal U.S. anti-money-laundering requirements, in a deal that might preserve the company’s ability to continue operating, according to court documents. Changpeng Zhao appeared in Seattle federal court Tuesday and entered his plea, according to court records. Prosecutors accused Binance, which Zhao owns, of facilitating transactions with sanctioned groups. Binance encouraged U.S. users to obscure their location so the firm could avoid complying with U.S. anti-money-laundering laws, prosecutors said.
Persons: Changpeng Zhao, Benoit Tessier, Binance, Zhao Organizations: Binance, Prosecutors Locations: Seattle
Binance skirted regulation to become the world’s largest cryptocurrency exchange by trading volume. Now, the company will plead guilty to a criminal charge in the U.S. and agree to pay $4.3 billion in fines. Changpeng Zhao is scheduled to appear in Seattle federal court Tuesday afternoon and enter his plea, according to court records unsealed Tuesday. Prosecutors also unsealed a document charging Binance, which Zhao owns, with anti-money-laundering and sanctions crimes. Binance will also plead guilty and agree to pay fines totaling $4.3 billion, which includes amounts to settle civil allegations made by regulators, the people said.
Persons: Benoit Tessier, Zhao, Binance Organizations: Binance, Prosecutors Locations: U.S, Seattle
The trial is the first of two antitrust cases brought by the Justice Department against Google. Photo: Hasan Bratic/Zuma PressWASHINGTON—The historic antitrust case against Google will soon be in the hands of a judge who says he has no idea how he will rule. It will be many months before U.S. District Judge Amit Mehta , who oversaw the nonjury trial in Washington, rules on the question at the heart of the Justice Department’s case: Did Alphabet -owned Google, which answers about 90% of all internet search queries worldwide, illegally cement its monopoly?
Persons: Hasan Bratic, Zuma Press WASHINGTON, Judge Amit Mehta Organizations: Justice Department, Google, Zuma Press, U.S Locations: Washington
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/media/justice-department-probes-live-nations-agreements-with-venues-artists-4a08d7ad
Persons: Dow Jones, 4a08d7ad
An attorney for SolarWinds calls the SEC’s lawsuit ‘overreach.’ Photo: sergio flores/ReutersThe Securities and Exchange Commission on Monday sued SolarWinds , the software company victimized by Russian-linked hackers over three years ago, alleging the firm defrauded shareholders by repeatedly misleading them about its cyber vulnerabilities and the ability of attackers to penetrate its systems. The SEC’s lawsuit is a milestone in its evolving attempt to regulate how public companies deal with cybersecurity. A hack that steals business secrets or customer data often pummels the victim company’s stock price, showing why firms with public shareholders have to accurately disclose such threats, the SEC says. The regulator recently imposed stricter cybersecurity reporting rules for public companies.
Persons: , sergio flores, SolarWinds Organizations: , Reuters, Securities, Exchange Commission, Monday, cybersecurity, SEC
A WSJ analysis of dashcam footage and data from a Texas crash shows Tesla’s Autopilot system failed to recognize stopped emergency vehicles. Photo illustration: Ryan TrefesFederal prosecutors have sent subpoenas to Tesla seeking information about executive perks, deals with related parties and decisions to hire or fire employees, the electric-vehicle maker disclosed Monday. Tesla’s quarterly report to investors confirmed the investigation previously reported by The Wall Street Journal. The Manhattan U.S. Attorney’s Office is scrutinizing personal benefits that Tesla may have provided Elon Musk since 2017, including a proposed house for the chief executive, the Journal reported in September.
Persons: Ryan, Tesla, Elon Musk Organizations: Wall Street, Manhattan U.S, Attorney’s Locations: Texas
Attendees visit the Ripple Labs booth at the Blockchain Week Summit in Paris in March. Photo: Benjamin Girette/Bloomberg NewsWASHINGTON—The Securities and Exchange Commission on Thursday said it would drop its lawsuit against two cryptocurrency executives who oversaw $1.5 billion in sales of a digital coin known as XRP, in a move that boosts the industry’s battle against traditional regulation. The dismissal of civil claims against Brad Garlinghouse and Chris Larsen , who were sued for assisting Ripple Labs’s sales, will likely encourage wealthy crypto defendants to fight regulators in court. At the same time, the SEC’s withdrawal from the case preserves its resources for bigger lawsuits it has filed against crypto giants Coinbase and Binance.
Persons: Benjamin Girette, Brad Garlinghouse, Chris Larsen Organizations: Bloomberg News WASHINGTON, The Securities, Exchange Commission, Ripple Locations: Paris
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/traders-case-tests-dojs-policing-of-global-currency-market-4a8257ba
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/currencies/whats-changed-for-crypto-after-ftx-not-much-17daba37
Persons: Dow Jones
What’s Changed for Crypto After FTX? Not Much.
  + stars: | 2023-10-11 | by ( Dave Michaels | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/currencies/whats-changed-for-crypto-after-ftx-not-much-17daba37
Persons: Dow Jones
SEC’s WhatsApp Fines Spread Further Across Wall Street
  + stars: | 2023-09-29 | by ( Dave Michaels | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/regulation/secs-whatsapp-fines-spread-further-across-wall-street-f1f097ea
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/in-suing-amazon-ftcs-lina-khan-turns-her-earlier-pricing-argument-on-its-head-e45b91e9
Persons: Dow Jones, lina
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/in-suing-amazon-ftcs-lina-khan-turns-her-earlier-pricing-argument-on-its-head-e45b91e9
Persons: Dow Jones, lina
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/justice-department-sues-provider-of-chicken-and-pork-data-6945b8ff
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/justice-department-sues-provider-of-chicken-and-pork-data-6945b8ff
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/us-news/law/ftc-sues-amazon-alleging-illegal-online-marketplace-monopoly-6bd9af23
Persons: Dow Jones
FTC Sues Large Private-Equity-Backed Anesthesia Provider
  + stars: | 2023-09-21 | by ( Dave Michaels | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/regulation/ftc-sues-large-private-equity-backed-anesthesia-provider-c2433e3a
Persons: Dow Jones
Wall Street Is Furious Over Rising Fines From SEC
  + stars: | 2023-09-16 | by ( Dave Michaels | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/regulation/wall-street-is-furious-over-rising-fines-from-sec-e35e25b7
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/google-antitrust-trial-doj-search-91d32f8f
Persons: Dow Jones Organizations: doj
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/regulation/sec-sues-market-maker-virtu-alleging-leakage-of-customer-information-b8b3f36f
Persons: Dow Jones
Total: 25