DIRS.INFO The most relevant business & tech news

☆ Collusion in Health Care Pricing? Regulators Are Asked to Investigate
▼ + stars: | 2024-05-01 | by ( Chris Hamby | More About Chris Hamby | ) www.nytimes.com time to read: +1 min

Recent revelations about a data analytics firm’s role in determining medical payments have heightened concerns about possible price fixing in health care and led to a call for a federal investigation. In a letter this week, Senator Amy Klobuchar asked federal regulators to examine whether algorithms used by the firm, MultiPlan, have helped major health insurers conspire to cut payments to doctors and leave patients with large bills. She cited a New York Times investigation last month into MultiPlan’s dominance of the lucrative business of pricing out-of-network medical claims. When patients see a medical provider outside their plan’s network, insurers often send their claims to MultiPlan, which uses proprietary algorithms to recommend how much to pay. By driving down payments to providers, MultiPlan and the insurers can collect higher fees for themselves, The Times reported, but this can lead to higher bills for patients, who may get charged the unpaid balance.

Persons: Amy Klobuchar, ” Ms, Klobuchar Organizations: New York Times, Federal Trade Commission, Times

☆ Analyst: Spirit Airlines could be forced out of business after JetBlue deal is blocked
▼ + stars: | 2024-01-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Spirit Airlines could end up in bankruptcy and be forced out of business because of a federal court decision to block a proposed sale to JetBlue Airways, according to a note from an airline analyst. “We believe Spirit will first look for an alternative buyer, but another airline may get the same pushback [from antitrust regulators. Its fares prompted major airlines to offer a certain number of no-frills “basic economy” seats on their planes. It also prompted concerns that its purchase by JetBlue would lead to higher fares across the industry — concerns which resulted in the Justice Department’s antitrust case that blocked the deal. “While we are disappointed with this [court decision] outcome, we are confident in our strengths and strategy,” said a company statement sent to CNN.

Persons: Helane Becker, Cowen, “, ”, Becker, General Merrick Garland, Pete Buttigieg, ” Buttigieg, Fitch, it’s, William Young Organizations: New, New York CNN — Spirit, JetBlue Airways, JetBlue, Transportation, Refinitiv, JPMorgan Chase, CNN, Airbus, Boeing, lessors, Federal, Spirit Locations: New York, Spirit’s, U.S

☆ The Chicken Tycoons vs. the Antitrust Hawks
▼ + stars: | 2023-11-29 | by ( H. Claire Brown | ) www.nytimes.com time to read: +4 min

Khan came to prominence in 2017 after she published a Yale Law Review article called “Amazon’s Antitrust Paradox.” Her article pointed out that while Amazon’s business was extraordinarily customer-friendly, the company’s dominance enabled it to control increasingly large swaths of the ecosystem in which it operated. Shouldn’t the government be able to limit the impacts of Amazon’s market power on vendors and workers even if its consumers aren’t unhappy? Like the Justice Department, the Federal Trade Commission also has the power to police antitrust violations. Among these marquee names and splashy allegations, chicken companies stand out for the sheer volume and variety of antitrust lawsuits filed against them. Plaintiffs included pretty much everyone the poultry processors did business with — their customers, their farmers, their workers and their shareholders.

Persons: Wu, Khan, ” Wu, Biden, Simon, Simon & Schuster Organizations: Yale, Justice Department’s, Google, Justice Department, JetBlue, Spirit Airlines, Antitrust Division, Penguin Random, Simon &, Federal Trade Commission, Meta, Microsoft, Activision, Pilgrim’s Locations: Maine

☆ C.E.O. of Google Rival Describes Obstacles to Efforts to Compete
▼ + stars: | 2023-09-21 | by ( Cecilia Kang | More About Cecilia Kang | ) www.nytimes.com time to read: +1 min

Gabriel Weinberg of DuckDuckGo said that Google’s deals to make its search engine the default on browsers and other platforms blocked its ability to compete effectively. DuckDuckGo, with only 2.5 percent of the U.S. market for search, tried to negotiate with other companies to make its privacy-focused search engine a default. But it was continually turned down because of Google’s deals with those tech partners, he said. “We ultimately decided after three years of trying this that it was a quixotic exercise because of the contracts,” Mr. Weinberg said. Executives at Apple, Microsoft and Verizon are also expected to testify in the trial, which could reshape how consumers get information online.

Persons: DuckDuckGo, Gabriel Weinberg, “, ” Mr, Weinberg Organizations: Google, Apple, Microsoft, Verizon Locations: U.S

☆ Opinion | Protecting Competition Is a Vital Goal
▼ + stars: | 2023-08-26 | by ( The Editorial Board | ) www.nytimes.com time to read: +3 min

Compare the United States with Europe, where authorities have more successfully resisted the consolidation of major industries. The economist Thomas Philippon wrote in a 2019 book about the decline of competition in the United States that the American economy would be roughly $1 trillion larger than it is today if the United States had simply maintained the level of competition that prevailed in 2000. The turn toward stringency reflects some of what has been learned in recent years about the effects of corporate concentration, for example, in a new emphasis on protecting workers. The guidelines treat the economic analysis of corporate concentration as a valuable source of information, rather than the measuring stick by which decisions are made. Mr. Kanter said his department is focused on protecting competition because that is the goal that Congress enshrined in law and he is in the law enforcement business.

Persons: Thomas Philippon, Jonathan Kanter, Lina Khan, Kanter, “ We’re, ” Organizations: Amazon, European Union, Antitrust, Federal Trade Commission, Microsoft, Activision Blizzard Locations: United States, Europe

☆ Authors and Booksellers Urge Justice Dept. to Investigate Amazon
▼ + stars: | 2023-08-16 | by ( Alexandra Alter | More About Alexandra Alter | ) www.nytimes.com time to read: +2 min

appears to be closing in on its decision to bring an antitrust case against Amazon. Amazon representatives are expected to meet this week with members of the commission to discuss the possible suit, a sign that legal action may be imminent. Even as books have become a smaller slice of the company, Amazon has become an overwhelming force in the book market. It accounts for at least 40 percent of physical books sold in the U.S., and more than 80 percent of e-books sold, according to an analysis released by WordsRated, a research data and analytics group. With its purchase of Audible in 2008, Amazon has also become one of the largest audiobook producers and retailers.

Persons: Lina Khan, Jonathan Kanter, It’s, Mayer, WordsRated, beholden Organizations: Federal Trade Commission, Department’s Antitrust, Amazon, Metro, Goldwyn, Markets Institute Locations: U.S, United States

Threads is integrated into Instagram, giving it potential access to roughly two billion monthly active users. Threads isn’t available in the European Union, where privacy watchdogs have long been concerned with how Meta handles users’ information. Being big doesn’t run afoul of antitrust law. Leveraging them to enhance the quality of Threads would not in and of itself violate antitrust laws, Mr. Melamed said. “The Threads example shows that big tech companies can also be valuable entrants, bringing new competitive pressure,” Mr. Francis said.

Persons: Nancy Rose, DealBook, ” Ms, Rose, ”, Doug Melamed, Melamed, “, Daniel Francis, Mr, Francis, — Ephrat Livni Organizations: Federal Trade Commission, European Union, Massachusetts Institute of Technology, Twitter, Stanford Law School, Justice Department, New York University, Competition Locations: ’

☆ Senators press DOJ to investigate PGA Tour and LIV Golf merger for antitrust violations
▼ + stars: | 2023-06-14 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —Democratic Sens. Elizabeth Warren and Ron Wyden are calling on the Justice Department’s antitrust division to inspect the controversial partnership between the PGA Tour and the Saudi Arabian Public Investment Fund. In a letter to senior DOJ officials on Tuesday, Warren and Wyden argued the deal will allow Saudi Arabia to “sportswash” its “egregious human rights record” and would violate multiple provisions of antitrust law. “Significantly, the deal appears to have a substantial adverse impact on competition, violating several provisions of U.S. antitrust law, regardless of whether the deal is structured as a merger or some sort of joint venture,” the senators added. The letter comes after Democratic Sen. Richard Blumenthal announced the Permanent Subcommittee on Investigations has launched a probe into the deal.

Persons: Democratic Sens, Elizabeth Warren, Ron Wyden, Warren, Wyden, LIV, ” Warren, General Merrick Garland, Jonathan Kanter, LIV Golf, Sherman, Democratic Sen, Richard Blumenthal Organizations: New, New York CNN, Democratic, Justice, PGA Tour, Saudi Arabian Public Investment Fund, Saudi Arabia’s Public Investment Fund, Investigations Locations: New York, Saudi Arabia, U.S, Saudi

☆ Justice Department wins lawsuit to end JetBlue and American Airlines alliance
▼ + stars: | 2023-05-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —American Airlines and JetBlue Airways have to break up their alliance on Northeast US flight routes, a US District Court judge ordered Friday. US District Judge Leo Sorokin ruled in favor of the the Justice Department, giving the Biden administration a victory in its years-long lawsuit against the airlines’ collaboration. The airlines have 30 days to end their partnership, Sorokin ruled – just as the busy summer travel season kicks off. The Justice Department also alleged the two airlines shared revenues earned at these airports, eliminating their incentives to compete with one another. CNN has reached out to American Airlines, JetBlue and the Justice Department for comment.

PITTSFORD, N.Y. — The Justice Department’s antitrust inquiry into men’s professional golf has included interviews with players, including the major tournament winners Phil Mickelson, Bryson DeChambeau and Sergio García, as the authorities examine whether the PGA Tour sought to manipulate the sport’s labor market. Although lawyers for the PGA Tour met with Justice Department officials in Washington this week, a timeline for the review’s completion — much less whether the government will try to force any changes in golf — is not clear. But the inquiry’s scope and persistence has deepened the turbulence in the sport, which has been grappling with the recent rise of LIV Golf, a league that used money from Saudi Arabia’s sovereign wealth fund to lure top players away from the PGA Tour. Eight people with knowledge of the Justice Department’s inquiry described its breadth on the condition of anonymity because the investigation was pending. The department declined to comment.

☆ Taylor Swift meltdown caused by Ticketmaster abusing its market power, Senate antitrust chair says
▼ + stars: | 2022-11-17 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN Business —Senator Amy Klobuchar criticized Ticketmaster in an open letter to its CEO, saying she has “serious concerns” about the company’s operations following a service meltdown Tuesday that left Taylor Swift fans irate. Ticketmaster and Live Nation, the country’s largest concert promoter, merged about a decade ago. Klobuchar noted that the company at the time pledged to “develop an easy-access, one-stop platform” for ticket delivery. It’s no secret that Live Nation-Ticketmaster is an unchecked monopoly,” Rep. David Cicilline, currently the chairman of the Antitrust Subcommittee, tweeted on Tuesday. The Justice Department and states allowed the Live Nation Ticketmaster merger to go through despite a 2010 court filing in the case raising objections to the merger.

☆ Ticketmaster meltdown for Taylor Swift tickets sparks outrage
▼ + stars: | 2022-11-16 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

The Justice Department and many state attorneys general have made similar complaints over the years. The Justice Department and states allowed the Live Nation Ticketmaster merger to go through despite a 2010 court filing in the case raising objections to the merger. In the filing, the Justice Department said that Ticketmaster’s share among major concert venues exceeded 80%. Past efforts to rein in Ticketmaster control over the ticket market have failed. The Justice Department and the states gave approval of to the Live Nation-Ticketmaster combination, but did call for some oversight.

☆ Leidos Discloses Subpoenas Amid Antitrust, Bribery Probes
▼ + stars: | 2022-11-01 | by ( Dylan Tokar | ) www.wsj.com time to read: +2 min

Leidos Holdings Inc., an information-technology and engineering services firm, received dual subpoenas in recent months in connection with criminal investigations into potential foreign bribery and antitrust violations. The Reston, Va.-based company was served with a grand jury subpoena in August related to an investigation by the Justice Department’s antitrust division, Leidos said Tuesday. The probe is the second ongoing criminal investigation disclosed by Leidos this year. The FCPA probe was first disclosed by the company in a securities filing earlier this year. At the time, Leidos said it was conducting an internal investigation into activities within its international operations that it discovered in late 2021.

☆ Penguin Random House-Simon & Schuster merger is blocked by judge
▼ + stars: | 2022-11-01 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Penguin Random House quickly condemned the ruling, which it called “an unfortunate setback for readers and authors.” In its statement Monday, the publisher said it would immediately seek an expedited appeal. The publishing industry has been consolidating for years with little interference from the government, even when Random House and Penguin merged in 2013 and formed what was then the biggest publishing house in memory. The joining of Penguin Random House and Simon & Schuster would have created a company far exceeding any rival. Penguin Random House’s global CEO, Markus Dohle, had promised that imprints of Penguin Random House and Simon & Schuster would still be permitted to bid against each other for books. Pan otherwise persistently challenged Penguin Random House’s assurances that the merger would not reduce competition.

☆ Augusta National Golf Club Under Investigation in DOJ Antitrust Probe
▼ + stars: | 2022-10-26 | by ( Louise Radnofsky | Andrew Beaton | ) www.wsj.com time to read: 1 min

The Justice Department’s antitrust investigation into professional golf includes the powerhouse bodies Augusta National Golf Club and the United States Golf Association, in addition to the PGA Tour, according to people familiar with the matter. The PGA Tour is battling the upstart, Saudi-backed LIV Golf’s bid to establish a rival golf tour that has already lured away a number of star players. The DOJ antitrust division’s scrutiny of the PGA Tour was first reported by The Wall Street Journal in July. Players’ agents have received inquiries about the Tour’s bylaws as they pertain to players’ participation in non-PGA Tour events, and the Tour’s actions relating to LIV Golf.

☆ U.S. says seven board directors resigned under antitrust pressure
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 19 (Reuters) - Seven directors on the boards of five companies have resigned because of the U.S. Justice Department's concerns over the directors holding similar board positions at rival companies, the department said on Wednesday. Two others representing Thoma Bravo on the SolarWinds board also resigned, the department said. SolarWinds said in a legal filing dated Oct. 14 that the three board members had decided to resign after receiving a letter from the Justice Department alleging that their board service broke antitrust law. A spokesperson for Udemy said a director stepped down on Sept. 23 because of U.S. Justice Department concerns. Directors also resigned from the board of Definitive Healthcare (DH.O), Redwire Corp (RDW.N) and CTS Corp (CTS.N) because they were on the boards of competing companies, the department said.

Search resuls for: "Department’s Antitrust"

16 mentions found