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☆ Norway wants to ban under-15s from social media, and expects an 'uphill battle'
▼ + stars: | 2024-10-24 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

AdvertisementNorway wants to stop children under 15 from using social media, proposing one of the world's toughest bans. The Scandinavian nation already restricts social media more than most, with a ban for under-13s. The Norwegian prime minister, Jonas Gahr Støre, told the Norwegian tabloid VG that new regulation would indeed be "an uphill battle." The Norwegian Media Authority in August estimated that 53% of nine-year-olds, 58% of 10-year-olds, and 72% of 11-year-olds use social media. Anglero said it's common for Oslo families to use social media, whether to coordinate children's sports teams or just to chat.

Persons: —, Jonas Gahr Støre, Nick Clegg, Meta, Clegg, Elon Musk, Evan Spiegel, Spiegel, Norway's, Andrew Harnik, Kjersti Toppe, Thomas Anglero, Anglero, Lina Ghazal, Ghazal, Anthony Albanese, Toppe Organizations: Service, Social, Facebook, Elon, Norwegian Media Authority, VG, BI, Guardian, Støre Locations: Norway, Norwegian, Oslo, Verifymy, France

☆ These dividend-paying stocks could be in the 'early innings' of a rally
▼ + stars: | 2024-10-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

"As evidenced by XLV [Health Care Select Sector SPDR Fund], price is back through the 50 day [moving average] on this relief rally," he said. "Not yet overbought, it looks to us like the early innings of a reacceleration back towards the highs. XLV YTD mountain Health Care Select Sector SPDR Fund year to date On top of that rally is the added benefit of dividend payouts on many health care stocks. At least 51% of the Wall Street analysts who cover each stock rates it a buy, according to FactSet data. CI YTD mountain Cigna year to date Cigna beat earnings and revenue estimates in its second quarter when it reported results in August.

Persons: Rob Ginsberg, Abbott, Robert Ford, Dickinson, Cigna, Lina Khan, Merck Organizations: Wolfe Research, SPDR, CNBC Pro, Wall Street, nab, Abbott Laboratories, Company, Cigna's, Federal Trade Commission, CVS Health, UnitedHealth, Merck, Co Locations: . Connecticut

☆ Battle of the billionaires: Harris deploys Mark Cuban as Elon Musk stumps for Trump
▼ + stars: | 2024-10-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +8 min

The Grinch is the one that's going to be putting these small business out of business." Unlike Musk, who has donated nearly $75 million and counting to Trump-aligned groups, Cuban is not a political donor. Ben Wikler, Wisconsin's Democratic Party Chair, praised Cuban's "talents" and said he has credibility to reach voters on business and economic issues. But I trust her.”None of this, however, is unfamiliar territory for Cuban, who played a similar role in 2016 for Clinton’s ultimately unsuccessful campaign against Trump. Before that campaign, Trump and Cuban had a hot-and-cold relationship.

Persons: Elon Musk, Donald Trump, Kamala Harris, Mark Cuban, Hillary Clinton, Cuban, Harris, Doug Emhoff, Harris —, —, He’s, Kamala, Trump, Zoe Lofgren, Ben Wikler, Cuban's, Wikler, Jim Watson, Musk, ” Cuban, Chuck Todd, “, Elon, ‘ There’s, ”, Theo Von’s, Diddy, knifed Trump, I’d, Von, Clinton’s, Clinton, Stephen Colbert’s, “ Donald, Gennifer, ” Trump, Bill Clinton, — Trump, Mandel Ngan, Jeff Hauser, Lina Khan, Alexandria Ocasio, “ Harris ’ Organizations: Elon, IGN, Cuban, Venture, SpaceX, Trump, Commission, Equis Research, Wisconsin's Democratic Party, Getty, NBC News, NBA, Dallas Mavericks, Democrats, “ Major League Baseball, Security and Exchange Commission, SEC, Fox News, Department of Health, Human Services, Federal Locations: Wisconsin, Phoenix, Michigan, La Crosse , Wisconsin, Pennsylvania, AFP, Cuban, United States, Harris, Alexandria, Cortez

The Federal Trade Commission is announcing a finalized rule to make it easier for people to cancel subscriptions and memberships they just don’t want anymore. When the proposed rule was announced last year, Khan said, the agency got about 16,000 comments expressing how canceling subscriptions had become a headache at best. Khan and the FTC have already taken legal action against Amazon’s Prime division over accusations that it is luring customers into subscriptions that the FTC alleges are extraordinarily difficult to cancel. “Some members have the ability to cancel their membership online based on their membership type and location of their home club,” it said. Nelson said she’d be grateful for the changes Khan and the FTC are proposing.

Persons: Lina Khan, Khan, we’ve, “, ” Khan, that’s, ”, Haley Nelson, didn’t, Nelson, she’d, it’s Organizations: Federal Trade Commission, U.S . Chamber of Commerce, “, FTC, Amazon’s, Amazon, NBC News, Fitness Locations: U.S, Minnesota

☆ The federal government just made it much easier to cancel your gym membership
▼ + stars: | 2024-10-16 | by ( Erika Tulfo | ) edition.cnn.com time to read: +4 min

The FTC unveiled its final “click-to-cancel” rule, which requires businesses provide a way for consumers to cancel their subscriptions that is just as easy as it is to sign up. That includes everything from gym memberships to digital streaming and e-commerce to cable TV service. “Too often, businesses make people jump through endless hoops just to cancel a subscription,” said Commission Chair Lina Khan in statement by the FTC. Other times they might’ve been able to sign up online, but in order to cancel they had to call and talk to a representative. Other kinds of memberships required them to actually show up in person to cancel their subscription,” Brett said.

Persons: ”, Lina Khan, Laura Brett, Brett, you’ve, ” Brett, Natnan, ABCmouse, Brian Fung, Nathaniel Meyersohn Organizations: CNN, Federal Trade Commission, FTC, Federal, National Advertising Division, BBB

☆ The government steps in to make it easier to cancel your subscriptions
▼ + stars: | 2024-10-16 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

The Federal Trade Commission finalized a rule designed to make canceling subscriptions easier. The rule targets "negative option" programs, such as auto-renewing subscriptions. AdvertisementThe government has had it with companies making it difficult for consumers to cancel their subscriptions. The Federal Trade Commission on Wednesday announced a final "click to cancel" rule requiring companies to make canceling subscriptions just as easy as signing up for them. Related storiesThe agency said its rule aimed to address common problems with these types of subscriptions, such as companies obscuring the terms of their subscriptions, customers getting billed when they didn't agree to pay, and companies making it difficult or impossible to cancel subscriptions.

Persons: —, Lina Khan Organizations: Federal Trade Commission, FTC, Service, Wednesday, Federal

☆ Biden is going after corporate giants for being too big. Here's who he's targeted so far.
▼ + stars: | 2024-10-13 | by ( Katie Balevic | ) www.businessinsider.com time to read: +6 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "This is definitely a different agenda than previous presidents," Rebecca Allensworth, an antitrust expert at Vanderbilt University, told Business Insider. AdvertisementHere are some of the biggest companies Khan and Biden have targeted. "I think there's a reason why they have one big monopolization case, at least, against each of the four major American tech companies," Allensworth told BI.

Persons: Joe Biden's, Biden, —, Joe Biden, Rebecca Allensworth, Kamala Harris, Lina Khan, Khan, Rafael Henrique, Merrick Garland, Alain Jocard, Sundar Pichai, Justin Sullivan, Jeff Bezos, EMMANUEL DUNAND, WhatsApp, Allensworth, it's Organizations: Google, Apple, Meta, Microsoft, Service, Vanderbilt University, Big Tech, Federal Trade Commission, Nvidia, OpenAI, Department of Justice, The New York Times, FTC, Getty, Justice Department, Nation Entertainment, Prosecutors, DOJ, The, Department, Amazon, Tech, JetBlue, Spirit Airlines, Albertsons Companies Locations: OpenAI

☆ AOC promises an 'out-and-out brawl' if Harris removes FTC chair Lina Khan as president
▼ + stars: | 2024-10-09 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

AOC tweeted in response to Mark Cuban saying Harris shouldn't keep Khan on as chair of the FTC. AdvertisementRep. Alexandria Ocasio-Cortez made it clear that when it comes to economic regulation, Vice President Kamala Harris can't please everyone. AOC took to X, formerly known as Twitter, to respond to comments from billionaire and Harris surrogate Mark Cuban. AdvertisementThroughout the election, Harris has leaned on her California roots to woo business and tech leaders, including Cuban, Reid Hoffman, and Laurene Powell Jobs. Should Harris win the election in less than a month, it remains unclear how she'll handle the looming Khan question.

Persons: Mark Cuban, Harris shouldn't, Harris, hasn't, —, Alexandria Ocasio, Cortez, Kamala Harris, Lina Khan, wouldn't, Semafor, Harris hasn't, Khan —, Gary Gensler, Reid Hoffman, Laurene Powell Jobs Organizations: Service, Federal Trade Commission, Securities and Exchange Commission, Cuban, Wall Locations: Alexandria, California

☆ Justice Department, FTC warn consumers of fraud, price gouging risks ahead of Hurricane Milton
▼ + stars: | 2024-10-09 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

As Hurricane Milton approached landfall in western Florida on Wednesday, the Biden administration warned consumers and businesses of the heightened risk of potential fraud, price gouging and collusion that accompanies major natural disasters. Federal Trade Commission chair Lina Khan said the FTC is "hearing troubling reports of price gouging for essentials that are necessary for people to get out of harm's way — from hotels to groceries to gas." "Companies are on notice: do not use the hurricane as an excuse to exploit people through illegal behavior," said Manish Kumar, a deputy assistant attorney general in the Justice Department's Antitrust Division. Most states have laws intended to curb price gouging, with many of these restrictions tied to declared states of emergency. Several major airlines and retailers have told CNBC in recent days that they froze prices in advance of the storm.

Persons: Hurricane Milton, Biden, Ronald C, Gathe Jr, Lina Khan, Patrick De Haan, Manish Kumar Organizations: Hurricane, U.S, Middle, Federal Trade Commission, Justice Department's Antitrust, CNBC Locations: Florida, Middle District, Louisiana

☆ CVS, UnitedHealth say FTC should take Lina Khan and two commissioners off drug middlemen case
▼ + stars: | 2024-10-09 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

CVS Health and UnitedHealth Group are demanding Federal Trade Commission Chairwoman Lina Khan and two other commissioners recuse themselves from a lawsuit accusing the companies and other drug middlemen of boosting their profits while inflating insulin costs for Americans. In separate motions filed Tuesday night with the FTC, CVS and UnitedHealth argued that all three commissioners have an extensive track record of making public statements that indicate "serious bias" against the companies' so-called pharmacy benefit managers. CVS said those statements demonstrate that the commissioners have "prejudged this matter," so their participation in the case "violates due process." The FTC filed the suit last month against the three largest PBMs, CVS Health's Caremark, UnitedHealth Group 's Optum Rx and Cigna 's Express Scripts. The FTC has been investigating PBMs and their role in insulin prices since 2022.

Persons: Lina Khan, UnitedHealth, Khan, Alvaro Bedoya, Rebecca Kelly Slaughter, PBMs Organizations: Financial Services, General Government, Federal Trade Commission, CVS Health, UnitedHealth, Federal Trade, CVS, Amazon, FTC, Zinc Health Services, GPO, Emisar Pharma, OptumRx Locations: Rayburn, U.S, Caremark

☆ Harris' Uber executive brother-in-law says he won't join her cabinet. Other business leaders still have a shot.
▼ + stars: | 2024-10-04 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

Tony West, Harris' brother-in-law and an Uber executive, doesn't plan on serving in her cabinet. Other private sector stars are in the running for key positions like Treasury secretary. Tony West, Harris' brother-in-law and a top executive at Uber, has been instrumental in cementing the vice president's relationship with corporate America. Sources told Semafor he's a leading candidate for Treasury secretary, among other positions. Related storiesBut Chenault isn't a shoo-in — leaders on and off Wall Street are also jockeying for the coveted position.

Persons: Tony West, Harris, —, Kamala Harris, Uber, Ken Chenault, Chenault, Semafor he's, Berkshire Hathaway, Wally Adeyemo, Gina Raimondo, Jamie Dimon, JPMorgan Chase, Blair Effron, Charles Phillips, Brad Smith, Lina Khan, Gary Gensler, Mark Cuban Organizations: Service, White, Uber, America, Wall Street Journal, Former American Express, Democratic, Democratic National Convention, American Express, Facebook, IBM, Procter, Gamble, Treasury, Commerce, JPMorgan, CNBC, Microsoft, Federal Trade Commission, Securities, Exchange Commission, SEC Locations: Airbnb, Berkshire

☆ 2 big reasons gold prices are set to surge 9% by early next year, according to Goldman Sachs
▼ + stars: | 2024-10-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Goldman Sachs predicts gold prices will hit $2,900 per troy ounce by early 2025. AdvertisementThe price of gold is set to extend its record-setting rally to new highs by early 2025, according to a note from Goldman Sachs. Goldman boosted its gold price target to $2,900 per troy ounce from $2,700, representing upside of about 9% from current levels. AdvertisementSuch gains would come after gold prices have already rallied 29% year-to-date. Goldman highlighted that the central banks of emerging market countries like China are behind the structural advance of gold prices since 2022.

Persons: Goldman Sachs, Goldman, —, Lina Thomas, Thomas Organizations: Service, London OTC Locations: China, London, Israel, Iran, East

☆ Why Kamala Harris and Donald Trump Are Courting the Crypto Crowd
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. Related storiesWhile Molly White, a crypto researcher and critic, described Harris' recent statements about crypto as "middle of the road," she said she thought the crypto industry was "definitely taking an optimistic view." The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

Persons: cryptocurrency, Crypto, Sen, Katie Porter, Jamaal Bowman, Sherrod Brown's, Bernie Moreno, Donald Trump, Kamala Harris, Trump, Harris, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Cameron, Tyler Winklevoss, He's, Adam Kovacevich, Joe Biden's, Gary Gensler, Lina Khan, Biden, Sheila Warren, Brian Hughes, Elizabeth Warren, Jon Tester, Bernie Sanders, Barron, it's, Robert Weissman, he's, She's, Chuck Schumer, Jared Polis of, Anthony Scaramucci, Mark Cuban, Ron Conway, Sherrod Brown, Kamala, she's, Rachael Horwitz, " Horwitz, Harris hasn't, Molly White, Horwitz, It's, There's, Weissman, Dan Cassino, Khan, Warren, that's, Emily Stewart Organizations: Democratic, Sherrod Brown's Republican, Gemini, Facebook, Trump, GOP, Republican, of, Democrats, Securities and Exchange, Federal Trade Commission, Crypto, Innovation, Liberty Financial, Public Citizen, Financial Times, Politico, Gov, Jared Polis of Colorado, Wall Street, Haun Ventures, Fairleigh Dickinson University, Capitol Hill, SEC, FTC, Chamber, Business Locations: Ohio, Wisconsin, Nashville, United States, Silicon Valley, That's, California, New York, America, bitcoin, Washington

☆ FTC clears Chevron-Hess deal, bans John Hess from board
▼ + stars: | 2024-09-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

John Hess, chief executive officer of Hess Corp., speaks at the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Tuesday, March 19, 2024. The Federal Trade Commission has banned Hess Corp . CEO John Hess from Chevron 's board as a condition for the oil companies' $53 billion merger to move forward. Hess Corp. and Chevron, however, have agreed that they will not appoint Hess to the board in order to facilitate the completion of the merger, according to the companies. The FTC voted 3 to 2 in favor of the order banning Hess from Chevron's board.

Persons: John Hess, Hess, Lina Khan, Andrew Ferguson, Hess's, Ferguson, Scott Sheffield Organizations: Hess Corp, P Global, Federal Trade Commission, Chevron, FTC, ., Exxon Mobil, Exxon, Democratic, Natural Resources, OPEC Locations: Houston , Texas, Chevron, Guyana, U.S

☆ 2024 Election: Crypto Bros Could Swing Votes Toward Kamala or Trump
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. In September, he unveiled his own crypto venture, World Liberty Financial. The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

☆ The JD Vance and Tim Walz debate is likely the last big night of the 2024 campaign. Here's what to expect.
▼ + stars: | 2024-09-28 | by ( Brent D. Griffiths | John L. Dorman | ) www.businessinsider.com time to read: +11 min

Tim Walz of Minnesota are set to meet for the only scheduled vice-presidential debate on Tuesday, a face-off that could mark the final major moment of the campaign. Harris' national polling has ticked up since what was viewed as her convincing debate victory. This will be the first time either Brennan or O'Donnell have moderated a vice-presidential debate. Born into poverty, Vance attended the flagship school in his home state, Ohio State University, before obtaining a law degree from Yale. Walz has led a progressive rewrite of the state tax code over the objection of business interests in the state.

Persons: Ohio Sen, JD Vance, Tim Walz, Vance, Walz, —, Sen, Kamala Harris, Donald Trump, Harris, he'll, Peter Loge, it's, Joe Biden, Trump, Nate Silver, Margaret Brennan, Norah O'Donnell, Brennan, O'Donnell, Scott Olson, Bradley Tusk, Tusk, whittle, Mike DeWine, Jeff Swensen, deindustrialization, he's, Lina Khan's Organizations: Minnesota Gov, Service, Ohio, Gov, Trump, School of Media, Public Affairs, George Washington University, Ohio Republican, Democratic, CBS Broadcast Center, CBS, Paramount, CBS Evening, Democratic Party, Minnesota National Guard, Army National Guard, Ohio State University, Yale, Federal Trade Commission, Big Tech, Foundation, Social Security, Tax Foundation Locations: Ohio, Minnesota, Vance, New York City, Springfield , Ohio, Iraq

☆ FTC announces crackdown on 'deceptive AI' businesses
▼ + stars: | 2024-09-25 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +5 min

The alleged schemes included promoting an AI tool that enabled customers to create fake reviews, advertising an AI lawyer that couldn't live up to real-world attorneys and failing to deliver on promises made about AI-assisted e-commerce businesses. "Using AI tools to trick, mislead, or defraud people is illegal," FTC Chair Lina M. Khan said in a statement. One of the companies singled out by the FTC, DoNotPay, claimed to offer an AI service billed as the "world's first robot lawyer." The FTC also filed a complaint against an online company that provides AI writing assistance tools. Khan, the FTC Chair, said that by going after companies that use unfair or deceptive AI tools, the FTC "is ensuring that honest businesses and innovators can get a fair shot and consumers are being protected."

Persons: Lina M, Khan, DoNotPay, Ecom Organizations: Federal Trade Commission, FTC, Builders

☆ FTC cracks down on DoNot Pay, others for 'deceptive AI claims and schemes'
▼ + stars: | 2024-09-25 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The Federal Trade Commission on Wednesday announced a crackdown on what the regulator called "deceptive AI claims and schemes" by three business opportunity ventures and two companies, including the legal services firm DoNotPay. "Using AI tools to trick, mislead, or defraud people is illegal," FTC Chair Lina Khan said in a statement. "The FTC's enforcement actions make clear that there is no AI exemption from the laws on the book," Khan said. In a complaint, the FTC said that DoNotPay, which touted its AI service as "the world's first robot lawyer," failed to live up to that claim. "Since about 2023, Defendants' deceptive sales pitch has said their business model is powered by artificial intelligence ("AI")," the suit says.

Persons: Lina Khan, Khan, DoNotPay, William Basta, Kenneth Leung Organizations: Financial Services, General Government, Federal Trade Commission, Wednesday, FTC Locations: Rayburn, CapVentures, Los Angeles

☆ FTC chair Lina Khan warns that airlines might one day use AI to find out you're attending a funeral and charge more
▼ + stars: | 2024-09-23 | by ( Jaures Yip | ) www.businessinsider.com time to read: +5 min

Read previewConsumers could end up paying the (personalized) price as AI becomes more popular, FTC Chair Lina Khan recently warned. Khan said that dynamic pricing, while a separate pricing strategy, may have helped price targeting become more prevalent as people become increasingly used to encountering it. Dynamic pricing itself has already proven controversial in some areas. Wendy's received major heat from customers after announcing plans to introduce dynamic pricing and AI-enabled menu changes as early as 2025. Later, the fast-food chain clarified that its dynamic pricing would not raise prices but rather only provide discounts.

Persons: —, Lina Khan, Khan, there's, we've, Wendy's, Kroger, Elizabeth Pancotti, Pancotti Organizations: Service, Innovation, Business, FTC, Microsoft, Walmart, Roosevelt Institute

☆ FTC chair Lina Khan explained how Americans lost their privacy protections to Big Tech
▼ + stars: | 2024-09-23 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

In a "60 Minutes" interview that aired Sunday, FTC Chair Lina Khan said allowing Big Tech to go through hundreds of acquisitions in the past several decades was a mistake that hurt Americans. An FTC spokesperson did not respond to a request for comment. "After some of those firms were bought up by one of the big guys, all of those data privacy policies changed overnight, and so Americans lost those privacy protections." A WhatsApp spokesperson told BI at the time that the company disagreed with the decision and that the penalties were "entirely disproportionate." An FTC spokesperson told CNN in 2023 that, under Khan, the agency has investigated or sued to stop more than three dozen merger proposals.

Persons: —, Lina Khan, Khan, Mark Zuckerberg's, we're, WhatsApp, Joe Biden, Kamala Harris, Reid Hoffman, Khan's, Matt Gaetz, Newsmax Organizations: Service, Trade, Big Tech, Business, Facebook, FTC, YouTube, Democratic, Republican, CNN, Florida, Street Journal Locations: Washington ,

☆ FTC sues drug middlemen for allegedly inflating insulin prices
▼ + stars: | 2024-09-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

The Federal Trade Commission on Friday sued three large U.S. health companies that negotiate insulin prices, arguing the drug middlemen use practices that boost their profits while "artificially" inflating costs for patients. It comes three days after Express Scripts sued the FTC, demanding that the agency retract its allegedly "defamatory" July report that claimed that the PBM industry is hiking drug prices. It also alleges that PBMs favor those high-list-price insulins even when more affordable insulins with lower list prices become available. President Joe Biden's signature Inflation Reduction Act has capped insulin prices for Medicare beneficiaries at $35 per month. The FTC said it remains "deeply troubled" by the role insulin manufacturers play in higher list prices, arguing that they inflate prices in response to PBMs' demands for higher rebates.

Persons: Lina Khan, UnitedHealth, drugmakers Eli Lilly, Caremark, PBMs, Rahul Rao, Rao, Joe Biden's, Biden, Eli Lilly, Eli Lilly's Organizations: Federal Trade Commission, CVS, Cigna's, FTC, Sanofi, Novo Nordisk, Express, Competition Locations: Rayburn, Washington ,, U.S, drugmakers, FTC's

Users also “lacked any meaningful control over how personal information was used for AI-fueled systems” on the companies’ platforms, according to the report. The report includes staff recommendations calling for federal privacy legislation, as well as more efforts from companies to prioritize privacy in their data collection and recommendation systems. "Protecting users – especially children and teens – requires clear baseline protections that apply across the board," the FTC said in the report. The privacy of children and teens were not adequately protected on these social media platforms and streaming services, according to the report. However, children and teens are known to be on social media, and the FTC wrote that companies "should not ignore this reality."

Persons: Lina Khan, –, Twitch, Kate Sheerin, Sheerin Organizations: Federal Trade Commission, Committee, Energy, Commerce, FTC, Amazon, Facebook, Meta, Twitter, YouTube, COPPA Locations: Canada

☆ Tech M&A has been thwarted by regulators, but dealmakers skeptical that election will change much
▼ + stars: | 2024-09-17 | by ( Jordan Novet | ) www.cnbc.com time to read: +12 min

Amazon abandoned its $1.7 billion purchase of iRobot in January after the FTC and European regulators raised concerns. Since peaking at $1.5 trillion in 2021, tech transaction volume has plummeted, dropping to $544 billion last year, according to Dealogic. Before the company announced its $27 billion purchase of data analytics software company Splunk last September, he said he viewed the risk as absolutely worth taking. Alphabet's last big deal was its $5.4 billion purchase of cybersecurity company Mandiant in 2022. Microsoft closed its massive $75 billion purchase of Activision in October, but it took 20 months and a protracted fight with U.S. and European regulators.

Persons: Lina Khan, Jonathan Kanter, Khan, Joe Biden, Drew Angerer, Biden, Permira, Thoma, Sen, JD Vance, Donald Trump's, Barry Diller, Reid Hoffman, Kamala Harris, Andrew Luh, Gunderson Dettmer, Figma, Dana Rao, Rao, We've, they've, Juniper, Salesforce, Antonio Neri, Pau Barrena, Neri, Sergio Letelier, hasn't, Letelier, Marc Benioff, It's Benioff's, Slack, Benioff, Derek Idemoto, who's, Idemoto, that's, Splunk, HPE's Letelier, it's, Harris, Trump Organizations: U.S . Federal Trade Commission, Justice, Brookings Institution, U.S, Senate, Getty, Google, Amazon, Microsoft, Federal Trade Commission, iRobot, FTC, BlackRock, Thoma Bravo, KKR, Republican, CNBC, Democratic, Trump, Big Tech, Justice Department, DOJ, Apple, Meta, Adobe, European Commission, UK Competition, Markets Authority, Justice Department's Antitrust, Hewlett Packard Enterprise, Mobile World Congress, MWC, AFP, Juniper, Markets, DOJ's Antitrust, European Union, EU, Software, Cisco, Activision, Foreign Investment, Regulators, Bloomberg, Tech Locations: Washington, Europe, Barcelona, Pau, Salesforce, United States

☆ Gold's rally to records shows no signs of slowing
▼ + stars: | 2024-09-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Gold prices just won't stop rising. Year to date, gold is up nearly 26% — outpacing the S & P 500's 18% gain. Since ETF holdings only increase gradually as the Fed cuts, this upside is not yet fully priced in." Investors seeking exposure to gold can obtain it through exchange traded funds, such as the SPDR Gold Shares ETF (GLD) . The fund, which tracks gold prices and charges 0.4% in fees, is up nearly 25% in 2024.

Persons: Goldman Sachs, Lina Thomas, Thomas, Christopher Danely Organizations: Reserve, Goldman, Miners, Gold Miners, Citigroup, Micron Technology

☆ Harris can chart her own path with the top regulators — and Big Business hopes she's on their side
▼ + stars: | 2024-09-16 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

Chris Larsen, the billionaire founder of blockchain payments company Ripple who is among the execs to endorse Harris, told Business Insider he wants her to make different appointments if she wins. "The way that they have already been interacting with business leaders is a compelling indication of where things could go in the future," Levie told Business Insider. Kovacic previously told Business Insider that Harris' relationship to economic progressives like Warren remains unclear. "It's not as though they think she will simply be an agent of Big Tech," he previously told Business Insider. "In the next four years, we'll be dealing with major policy subjects that relate to the next many decades of innovation," he told Business Insider.

Persons: —, Joe Biden, hamstrung, he'd, Sen, Elizabeth Warren of, Biden, Warren, Warren's, Lina Khan, Gary Gensler, Kamala Harris, Khan, William Kovacic, That's, Harris, Adam Kovacevich, Elizabeth Warren, Kovacevich, Kamala Harris doesn't, Politico, winced, Aaron Levie, Arati Prabhakar, Chris Larsen, Larsen, Catalini, Gensler, Dallas Mavericks Mark Cuban, Levie, Kovacic, Obama, Douglas Farrar, we'll Organizations: Service, White, Democratic, Business, Federal Trade Commission, Securities, Exchange, George Washington University, of, Consumers Bank Association, Science, Technology, Bloomberg, MIT Cryptoeconomics, SEC, Dallas Mavericks, FTC, Democratic Party, Warren, Biden, Big Tech, Harris Locations: Elizabeth Warren of Massachusetts, Biden's, Harris, California, Gensler

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