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☆ Google 'personifies' the culture shift happening across corporate America: The Verge's Alex Heath
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle 'personifies' the culture shift happening across corporate America: The Verge's Alex HeathAlex Heath, The Verge deputy editor, and Joanne Lipman, Yale University lecturer, join 'Squawk Box' to discuss the fallout from Google's firing of 50 employees after protests at company offices over a cloud computing deal with Israel, the broader shift in work culture across Big Tech and corporate America, FTC's ban on noncompete clauses, and more.

Persons: Alex Heath Alex Heath, Joanne Lipman Organizations: Google, Yale University, Big Tech Locations: America, Israel

☆ Jamie Dimon fears for the future of the free world and US debt
▼ + stars: | 2024-04-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world. “The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday. “The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. This is not the first time Dimon has warned that the world is on the brink of a massive realignment. The country’s national debt is now over $34.5 trillion, or about $103,000 for every American.

Persons: Jamie Dimon, ” Dimon, Dimon, Bretton, ”, That’s, “, Jerome Powell, Niall Ferguson, Chris Isidore, Tesla, Elon Musk, Jeanne Sahadi, Joe Biden, “ won’t Organizations: CNN Business, Bell, New York CNN, JPMorgan, Economic, of New, World Trade Organization, UN, AAA, NATO, Atlantic Treaty Organization, Federal, Federal Trade Commission, FTC, of Commerce Locations: New York, of New York, Ukraine, NATO, Israel, US, China, Bretton Woods, WTO, Russia

☆ Jason Furman on the case against student loan relief: We have an economy that hasn't landed softly
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJason Furman on the case against student loan relief: We have an economy that hasn't landed softlyJason Furman, Harvard’s Kennedy School of Government economics professor and former CEA chairman, joins 'Squawk Box' to discuss why he's against the Biden administration's student loan forgiveness proposal, why he believes the plan is poorly targeted and will make inflation worse, President Biden's budget proposal, FTC's ban on noncompete clauses, the Fed's interest rate outlook, and more.

Persons: Jason Furman, Biden's Organizations: Harvard’s Kennedy School of Government, Biden

☆ Video: FTC chair on how noncompete ban could impact millions of workers
▼ + stars: | 2024-04-24 | by ( Elias Goodstein | ) edition.cnn.com time to read: 1 min

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☆ FTC votes to block most employers from enforcing noncompete clauses
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTC votes to block most employers from enforcing noncompete clausesCNBC's Eamon Javers joins 'Power Lunch' to report on the FTC voting to block most employers from enforcing noncompete clauses.

Persons: Eamon Javers

☆ FTC votes to ban noncompete clauses that bar employees from working for competitors
▼ + stars: | 2024-04-23 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023. The Federal Trade Commission on Tuesday voted 3-2 for a nationwide ban against noncompete agreements, which companies use to prevent employees from taking jobs with competitors in the same industry. The FTC estimates that 30 million American workers, or roughly 18%, are currently subject to a noncompete. The FTC initially proposed the noncompete ban in January 2023. Meanwhile, business trade groups claim that noncompetes help preserve intellectual property and company secrets.

Persons: Lina Khan, Joe Biden, Joe Biden's, Biden Organizations: Federal Trade, Federal Trade Commission, Capitol, Washington , D.C, Federal, U.S . Chamber of Commerce, Workers, FTC, Department, DOJ Locations: Washington ,, U.S

☆ Japan is sending a 'sugar baby' to prison for 9 years for defrauding men out of $1M and selling a manual on how to do it
▼ + stars: | 2024-04-23 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A 25-year-old Japanese 'sugar baby' has been sentenced to nine years in prison. A court ruled that Mai Watanabe defrauded men she met on dating apps out of more than $1 million. AdvertisementA 25-year-old "sugar baby" was handed a nine-year prison sentence for defrauding men she met on dating apps out of more than $1 million, and selling a manual on how to carry out similar scams. Mai Watanabe, also known as "itadaki joshi Riri-chan," which translates as "sugar baby Riri," was sentenced by the Nagoya District Court on Monday, The Japan Times reported. Being a sugar baby can be financially rewarding.

Persons: Mai Watanabe, Watanabe, —, itadaki joshi, they're Organizations: Service, Japan Times, Nippon, Kyodo, Press, Federal Trade Commission, FTC Locations: Nagoya, Tokyo's Kabukichō, swindling

☆ FTC bans employers from using noncompete clauses
▼ + stars: | 2024-04-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register. The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force. The ban would apply nationwide, overriding state laws regarding noncompete agreements. In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.

Persons: Joe Biden, “ won’t, ”, Stefanie Camfield, Daryl Joseffer, “, ” Joseffer, Neil Bradley, Kathleen Hochul, Anne Clark, Vladeck, Raskin, Clark P.C, Amanda Wait, DLA Piper, Clark Organizations: New, New York CNN, Federal Trade Commission, FTC, of Commerce, Federal Register, Washington , D.C, Engage, Chamber’s Litigation, New York Locations: New York, California, North Dakota, Oklahoma, Washington ,, Colorado , Maryland , Oregon, Rhode

☆ The handbag wars have begun after the US sued to block the merger of Coach and Michael Kors
▼ + stars: | 2024-04-23 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

The FTC announced a lawsuit that blocks a merger between luxury brands Tapestry and Capri. Tapestry and Capri argue the luxury handbag market is too saturated for that to happen. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe FTC is trying to stop a merger between brands Tapestry and Capri that would put labels Coach, Kate Spade, Michael Kors, Jimmy Choo, and Versace under one luxury house. Tapestry, Inc., which owns Kate Spade and Coach, announced in August its intent to acquire Capri Holdings, which owns Michael Kors, for $8.5 billion.

Persons: —, Kate Spade, Michael Kors, Jimmy Choo, Versace Organizations: FTC, Service, Inc, Capri Holdings, Regulators, European Union, Business Locations: Capri, Japan

☆ I agree with the FTC, Tapestry's acquisition of Capri is anti-competitive, says Jim Cramer
▼ + stars: | 2024-04-23 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

I agree with the FTC, Tapestry's acquisition of Capri is anti-competitive, says Jim Cramer'Mad Money' host Jim Cramer gives his take on the proposed merger of luxury retailers Tapestry and Capri.

Persons: Jim Cramer Organizations: FTC

☆ US sues to block Tapestry’s Capri deal citing handbag market domination
▼ + stars: | 2024-04-22 | by ( ) edition.cnn.com time to read: +1 min

The US Federal Trade Commission said on Monday it was suing to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri, saying it would eliminate competition. This comes at a time when several US lawmakers have sought increased scrutiny from the FTC of several multi-billion dollar deals that might risk higher prices and affect consumers. US antitrust enforcers had also come out with new merger guidelines in December, in a bid to encourage fair, open and competitive markets. But the FTC requested more information from the firms on their deal in November. “Capri Holdings strongly disagrees with the FTC’s decision,” the company said in a statement.

Persons: Michael Kors, Capri, Tapestry, Louis Vuitton, “, Kate Spade, Jimmy Choo Organizations: US Federal Trade Commission, Capri, “ Capri Holdings, FTC, European Union, Japan

☆ Amazon is not only customer-obsessed, but also competitor-obsessed: WSJ's Dana Mattioli
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon is not only customer-obsessed, but also competitor-obsessed: WSJ's Dana MattioliDana Mattioli, Wall Street Journal reporter and ‘The Everything War: Amazon’s Ruthless Quest to Own the World and Remake Corporate Power’ author, joins 'Squawk Box' to discuss Amazon's goal of total business dominance, the company's tactics against competitors, FTC's antitrust lawsuit against Amazon, and more.

Persons: WSJ's Dana Mattioli Dana Mattioli Organizations: Wall Street Journal, Amazon

☆ FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings
▼ + stars: | 2024-04-22 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

The U.S. Federal Trade Commission on Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry . With the transaction, the luxury brands could be poised to better compete with European luxury names, such as Burberry and LVMH's Louis Vuitton. Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending. Yet Capri, in particular, has been more vulnerable because of its heavier reliance than Tapestry on department stores and other wholesale retailers. The vast majority of Tapestry's sales are through its own website and stores, with wholesale accounting for only about 10% of sales globally in the most recently reported fiscal quarter.

Persons: Kate Spade's, Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, LVMH's Louis Vuitton, Joanne Crevoiserat, Tapestry, Crevoiserat Organizations: U.S . Federal Trade Commission, Capri Holdings, Burberry, Tapestry, CNBC Locations: Europe, Japan, Capri

☆ Amazon had a secret operation to gather intel on rivals like Walmart and FedEx, reportedly called Big River
▼ + stars: | 2024-04-18 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Big River sold items like t-shirts, shoes, and beach chairs on competitors' platforms. Its goal was to get information from rivals that Amazon could then use to inform its own business decisions, according to the Journal. Executives viewed printed copies of the Big River team's reports and weren't allowed to keep them, though they were allowed to take notes, the Journal reported. "Benchmarking is a common practice in business," an Amazon spokesperson told Business Insider, using an industry term for comparing itself to rivals. Big River also developed its own brands to sell through rivals' marketplace websites.

Persons: —, Amazon's, weren't, Shopify Organizations: Service, Walmart, eBay, River Services, Wall Street, Business, Amazon, FedEx, Big Locations: India

☆ Jim Cramer shares his thoughts on United Airlines, J.B. Hunt, ASML, Tapestry and Alcoa
▼ + stars: | 2024-04-17 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

United Airlines : Shares surged more than 10% after the airline reported a smaller-than-expected quarterly loss and offered upbeat guidance for the second quarter. It wants them to be able to raise a lot, and that's what you got," Jim Cramer said. J.B. Hunt : Shares tumbled more than 9% after the company missed Wall Street expectations on the top and bottom lines. "One of the absolute few situations where the Fed is winning, but that's because there's too much supply," Cramer said. Tapestry owns the Coach, Kate Spade and Stuart Weitzman brands.

Persons: Jim Cramer's, Jim Cramer, J.B, Cramer, Michael Kors, Kate Spade, Stuart Weitzman, Joe Biden Organizations: CNBC, Club, United Airlines, ASML, Federal Trade Commission, Capri Holdings, The New York Times . Tapestry, Alcoa Locations: Pittsburgh

☆ This administration dislikes mergers and powerful companies, says Jim Cramer
▼ + stars: | 2024-04-17 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

This administration dislikes mergers and powerful companies, says Jim Cramer'Mad Money' host Jim Cramer comments on the FTC blocking of mergers and acquisitions.

Persons: Jim Cramer

☆ Republican House panel launches probe into Biden's FTC-DOJ task force on corporate pricing
▼ + stars: | 2024-04-16 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

"The timing of the Strike Force announcement, in an election year, raises the likelihood that political motivations rather than the interests of American consumers drove the action," House Oversight Committee Chair Rep. James Comer, R-Ky., said in the letter. The Strike Force is jointly led by the FTC and the Department of Justice, which have been at the front lines of the Biden administration's regulatory agenda over the past several years. Comer alleged in the letter that "this pattern" of blaming corporate-pricing practices for inflation "signals that the new FTC-DOJ Strike Force will be used as a political tool." But Biden's logic that companies are the ones responsible for high prices, not his economic agenda, could be taking hold with voters. A March survey found that respondents blamed recent price hikes on "large corporations taking advantage of inflation" more than Democratic policies.

Persons: Lina M, Khan, Bill Nelson, Joe Biden's, Lina Khan, Biden, James Comer, Jonathan Kanter, Comer, —, Biden's Organizations: Commerce, Science, NASA, Capitol, Republican, CNBC, Federal Trade, Strike Force, Force, U.S, FTC, Department of Justice, Biden, Kroger, Albertsons, DOJ Strike Force, Democratic Locations: Washington , U.S, Ky

☆ Advertising restrictions can have harmful effects on women’s health. Here’s what one company is doing about it
▼ + stars: | 2024-04-14 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +10 min

And on social media sites like Instagram, ads for Frida products related to fertility and breast health have long been censored and removed. A February 2023 report published by Canada’s Alberta Women’s Health Foundation found that taboos around women’s health issues hurt women by reducing awareness of conditions like menstruation symptoms and loss of bladder control. According to Bird, the return on investment when it comes to funding women’s health is tremendous, “but the funding alone can’t do it. The science alone can’t do it.”“You actually have to be able to disseminate information about women’s health … at a level that can be understood. “You’re seeing that kind of decision-making around the advertisements being on social media, but in the general public, we talk about women’s bodies and women’s lives,” said Bird.

Persons: New York CNN —, Frida, Chelsea Hirschhorn, there’s, ”, “, ” Hirschhorn, Hirschhorn, Jackie Rotman, Meta, it’s, Critics, Chloe Bird, Bird, Sara Murray Jordan Organizations: New, New York CNN, CNN, CVS, Target, Walmart, ABC, Meta, Intimacy Justice, Federal Trade Commission, FTC, Canada’s, Canada’s Alberta Women’s Health Foundation, Center for Health Equity Research, Tufts Medical Center, Medicine, Tufts University School of Medicine Locations: New York, Instagram, Canada’s Alberta

☆ Former FTC Commissioner Mozelle Thompson on Big Tech antitrust suits
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer FTC Commissioner Mozelle Thompson on Big Tech antitrust suitsMozelle Thompson, former FTC Commissioner under President Clinton, joins ‘Squawk Box’ to discuss FTC antitrust suit against Amazon, the overall regulatory environment, and more.

Persons: Mozelle Thompson, Clinton Organizations: Former, Big Tech, FTC, Amazon

☆ That lipstick review could have been written by AI
▼ + stars: | 2024-04-12 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +5 min

I purchased the Haus Labs foundation after watching a glowing review of the product by a makeup influencer on TikTok. That's where online reviews come in: For beauty, especially, reviews from influencers and regular people are crucial. Content Coach gives users prompts of key topics to include in their review, based on common themes in other reviews. "In terms of generative AI, if people can't trust whether a product review is genuine and written by a real user, they might choose to shop elsewhere," said Marissa Jones, the company's senior vice president of product. AI-powered reviews will certainly be great for beauty brands that want more high-quality reviews.

Persons: it's, Selena, Marissa Jones, Bazaarvoice, Chanel, Reilly Organizations: Service, Haus Labs, Business, Fashion, L'Oréal, Clarins, FTC, Walmart, eBay Locations: TikTok, Pacifica

☆ Amazon CEO Andy Jassy spurns regulators after failed iRobot deal: 'It's a sad story'
▼ + stars: | 2024-04-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon CEO Andy Jassy on Thursday took aim at regulators who are increasingly blocking mergers, including the company's planned acquisition of robotic vacuum maker iRobot , which fell apart earlier this year amid antitrust concerns. "I think it's really kind of a sad story," Jassy said in an interview with CNBC's Andrew Ross Sorkin on "Squawk Box." Jassy said the move showed that regulators "trust these two large Chinese companies with maps of the inside of U.S. consumers' homes more than they do Amazon." As megadeals have slowed to a crawl, tech companies have made a flurry of investments in artificial intelligence startups, seeking to gain a foothold in the burgeoning market. When asked how Amazon is tackling returns fraud, Jassy said the company has teams charged with examining returned goods to make sure they're "appropriate."

Persons: Andy Jassy, Jassy, CNBC's Andrew Ross Sorkin, iRobot, Anker, Ecovacs, Biden Organizations: Federal Trade Commission, Big Tech, Microsoft, Regulators, FTC, Amazon, CNBC, National Retail Federation, Appriss Locations: U.S, China, OpenAI

☆ Cash App: Safety Features to Help Protect You From Scams
▼ + stars: | 2024-04-11 | by ( Business Insider | Cash App | ) www.businessinsider.com time to read: +5 min

Popular payment app scamsAccording to Cash App, some of the most common payment app scams include:Giveaways — Look out for giveaways that require you to complete a "test transaction" on a mobile payment app, especially using hashtags like #cashappgiveaway and #cashappfriday. Based on the specifics, they along with Cash App can advise you on what to do next. Don't forget, payments on Cash App are immediate and you should use caution when sending payments to individuals that you don't know. Can you reverse a Cash App payment you've already made? If your Cash App payment has already been completed, it can't be reversed.

Persons: it's, Cash, you've Organizations: Paypal, Security, Federal Trade Commission

☆ Inside the Fight Over Software That Tells Landlords to Hike Your Rent
▼ + stars: | 2024-04-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

Rents soared thanks to a shortage of apartment units, remote workers' desire for more space, and a daunting for-sale market that kept many renters stuck in place. Without RealPage, the plaintiffs argue, landlords would be hesitant to jack up rents; instead, they'd focus on keeping their buildings full. In short, the lawsuits that started with apartment rents could one day change how we pay for everything. By turning over pricing to the algorithm, plaintiffs say, RealPage's clients are encouraged to push rents higher than if they'd left the decisions up to humans. The RealPage cases are about far more than apartment rents.

Persons: RealPage, Kris Mayes, they'll, they'd, —, Zillow, there's, Marie Claire Tran, Leung, Tran, Matt Damon, Maureen Ohlhausen, Bob, Ohlhausen, Ed Rogers, Ballard Spahr, Jeffery Cross, Smith Gambrell Russell, didn't, it'll Organizations: Revenue Management, ProPublica, National Housing Law, FBI, RealPage, Department, Federal Trade Commission, Politico, Washington, Justice Department, FTC Locations: Texas, you've, Phoenix, Tucson, Washington, DC, RealPage, Arizona, Tennessee

☆ Landlords Use a Popular Software Tool to Jack up Apartment, Home Rents
▼ + stars: | 2024-04-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

☆ Meta considered paying users for data, lawsuit reveals. An economist said users should each get $5 a month for it.
▼ + stars: | 2024-04-09 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

AdvertisementMeta took issue with several parts of Economides' testimony, which remains under seal and had many specific references redacted from Meta's filing. In his testimony, Economides valued individual Facebook user data at least $5 a month per user, according to Meta's summation of it. In the present day, that would mean Meta paying out tens of billions each month for user data, as Zuckerberg said in fourth-quarter earnings that over 3.1 billion people use at least one Meta app each day. Meta disagreed and told the court that Economides' testimony was effectively "junk science" with "no real-world support" and should be thrown out. "No firm like Meta, in any market, has paid all its users as a competitive response—ever," lawyers for Meta wrote.

Persons: Meta, Mark Zuckerberg, Javier Olivan, Guy Rosen, Nicholas Economides, Economides, Zuckerberg, Kali Hays Organizations: Service, Facebook, Meta, Business, New York University, Google Locations: khays@businessinsider.com

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