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☆ How a teenager used a spoof cell tower to steal personal information from thousands of people
▼ + stars: | 2024-10-04 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +2 min

A New Zealand teenager sent thousands of scam texts using a fake cellphone tower before he was caught. It uses a so-called SMS Blaster to trick cellphones. The FBI and FTC have warned of rising smishing scams in the US. The Federal Trade Commission says that most "smishing" scams in the United States also involve people posing as banks. In 2022, the bureau warned that large-scale smishing campaigns delivered "hundreds, thousands, or even hundreds of thousands" of text messages in a matter of hours mimicking the IRS.

Persons: —, Smishing Organizations: FBI, FTC, Service, Police, New Zealand police, Federal Trade Commission Locations: Zealand, New Zealand, United States

☆ 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.

Angela Weiss | AFP | Getty ImagesAs she unveiled her most detailed economic plan yet this week, Democratic presidential nominee Kamala Harris pledged to fight price gouging in order to rein in voters' grocery costs. Although Harris released more detail Wednesday as part of her 82-page economic plan, it's still unclear what price hikes her administration would see as illegal "price gouging." Generally, Republicans support fewer economic regulations, although Trump has suggested limiting food imports as a way to lower grocery prices. What is price gouging? Thirty-seven U.S. states already have laws that forbid price gouging in emergencies.

Persons: Kamala Harris, Doug Emhoff, Angela Weiss, Donald Trump, Harris, it's, Walz, Trump, YouGov, Rakeen Mabud, Mabud, Mario Tama, markups, —, Jerome Powell —, Sarah Gallo, Brian Cornell, Jharonne Martis, Brandon Bell, Kroger, Arun Sundaram, Sundaram, JBS, Joe Raedle Organizations: Democratic, AFP, Getty, Trump, Bureau of Labor Statistics, Voters, Federal Reserve Bank of Kansas, Consumer Brands Association, Federal Trade, Department of, Kroger, Procter, Gamble, Albertsons, Federal Trade Commission, CFRA Research, Pilgrim's Pride Corporation Locations: Coraopolis , Pennsylvania, Los Angeles , California, Federal Reserve Bank of Kansas City, Houston , Texas, Miami , Florida

☆ Why not everyone is on board with a government crackdown on deceptive online AI products
▼ + stars: | 2024-09-29 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

The FTC is targeting companies that use AI tools or make claims about AI for deceptive practices. The crackdown includes firms that sell AI tools for fake reviews or misleading services. AdvertisementThe Federal Trade Commission is cracking down on companies selling AI tools that it says harm consumers. One company claimed to sell AI "lawyer" services, and multiple companies deceptively claimed to sell AI tools to help build online stores. Related storiesAs annoying as fake reviews can be, not everyone is on board with the FTC crackdown.

Persons: —, Neil Chilson, Chilson, Melissa Holyoak Organizations: FTC, Service, Federal Trade Commission, Abundance Institute, Bloomberg, Rytr, Commission

☆ Insider Today: Austin's genius housing fix
▼ + stars: | 2024-09-28 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

This week's dispatchThe high cost of weight-loss drugsiStock; Rebecca Zisser/BIWhy are two popular weight-loss drugs — Wegovy and diabetes medication Ozempic — so expensive in the US? Patients also bargain-hunt for cheaper weight-loss drugs online, or try to use manufacturer-issued coupons. See the full listiStock; Rebecca Zisser/BIDeals we loveCalling all Madewell shoppers: The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The bi-annual Madewell Insiders sale is here with 25% off almost everything full-price and an additional 40% off sale. The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.

Persons: —, you've, Shailene Woodley, George Clooney, Rebecca Zisser, Ozempic, Lars Fruergaard Jorgensen, Sen, Bernie Sanders, it's, Gabby Landsverk, Ro, Henry Meds, Eli Lilly, Stefania Pelfini, Jenny Chang, Rodriguez, BI Marie, Mangin, Yellowstone Joey Hadden, Jackson, Wyoming's, Natalie Ammari, Zers, Austin, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Business, Service, Novo Nordisk, Federal Trade Commission, FDA, copycats, BI, Yellowstone, Austin, Lone Star, Disney, Pixar, British, Netflix, Insiders Locations: Washington ,, Germany, New York City, New York, Chicago

☆ 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

☆ Justice Department accuses Visa of debit network monopoly that impacts price of 'nearly everything’
▼ + stars: | 2024-09-24 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

The U.S. Justice Department on Tuesday sued Visa , the world's biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing "exclusionary" agreements on partners and smothering upstart firms. "Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service," Garland said. "As a result, Visa's unlawful conduct affects not just the price of one thing – but the price of nearly everything." "These agreements penalize Visa's customers who route transactions to a different debit network or alternative payment system." 4 behind Visa, MasterCard and American Express .

Persons: Merrick Garland, Garland, Joe Biden's, Discover's Organizations: U.S . Justice, Visa, DOJ, MasterCard, fintech, Plaid, Mastercard, Federal Trade Commission, Consumer Financial, Bureau, Capital, Discover Financial, American Express Locations: New York, U.S

☆ More than 400 economists, former White House advisors endorse Harris, warn against Trump policy agenda
▼ + stars: | 2024-09-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Democratic presidential nominee and Vice President Kamala Harris speaks to members of the media upon her arrival at Joint Base Andrews in Maryland on Sept. 22, 2024. More than 400 economists and former White House policy advisors announced their support for Vice President Kamala Harris over former President Donald Trump in an open letter Tuesday. "It is a choice between inequity, economic injustice, and uncertainty with Donald Trump or prosperity, opportunity, and stability with Kamala Harris." Some on the list, such as Biden's former National Economic Council Director Brian Deese, have already been advising the Harris campaign behind closed doors. Sean O'Keefe was deputy director of the Office of Management and Budget in former President George W. Bush's White House.

Persons: Kamala Harris, Donald Trump, Joe Biden, Barack Obama, Bill Clinton, Jason Furman, Roger Altman, Clinton, Penny Pritzker, Obama, Alan Blinder, Brian Deese, Harris, Sean O'Keefe, George W, Bush's, Phillip Braun, Ronald Reagan's Organizations: Democratic, Base Andrews, White, Republicans, Harvard, of Economic, Obama, Federal Reserve, Federal Trade Commission, Consumer Financial, Bureau, CNN, Economic, Republican, Management, Economic Advisers Locations: Maryland, U.S

☆ The biggest single-family home landlord in the US is poised to pay $48 million in settlement with FTC
▼ + stars: | 2024-09-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

Invitation Homes is poised to pay over $48 million in a settlement with the FTC. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe country's largest single-family home rental company is poised to pay more than $48 million as part of a proposed settlement with the Federal Trade Commission over allegations that it deceived and overcharged consumers.

Persons: — Organizations: FTC, Service, Federal Trade Commission, Invitation, Business Locations: California

☆ ‘Greed, greed, greed’: Sanders demands Ozempic maker lower prices
▼ + stars: | 2024-09-24 | by ( Meg Tirrell | Tami Luhby | ) edition.cnn.com time to read: +7 min

“We are very committed to making sure that Americans have access at an affordable price point for our medicines,” Jorgensen replied. Similarly, Wegovy’s list price is $1,349 in the US, but it costs $186 in Denmark, $140 in Germany and $92 in the United Kingdom, he said. Tuesday’s hearing boiled down to a familiar argument over who is responsible for the US’s higher prices: drug companies that set starting – or “list” – prices or pharmacy benefit managers, the middlemen that negotiate discounts on those list prices in exchange for favorable insurance coverage and access. Jorgensen said Novo Nordisk pays back about 75% of its medicine sales in rebates, discounts and fees, so the net price it receives is far lower than the list price. “The broad totality is that less patients have access to our medicines when we lowered the price,” Jorgensen told Sen. Maggie Hassan, D-New Hampshire, after she pressed him to reduce list prices.

Persons: Sen, Bernie Sanders, ” Sanders, Lars Fruergaard Jorgensen, ” Jorgensen, “, Sanders, Jorgensen, it’s, Maggie Hassan, drugmakers, ”, PBMs, scot, ” Sen, Tim Kaine, Roger Marshall, Eli Lilly, Dr, Sanjay Gupta, Tammy Baldwin Organizations: CNN, Nordisk’s, US, Health, Education, Labor, Pensions, Yale, Novo Nordisk’s Ozempic, Novo Nordisk, Pharmaceutical Care Management Association, Nordisk, Novo Nordisk’s, Federal Trade Commission, CVS, Cigna’s, Republican, Wegovy’s, CNN Health, Medicare, Services Locations: United States, Danish, America, Canada, Denmark, Germany, United Kingdom, New Hampshire, Big, Virginia, Kansas, Novo, Wisconsin

☆ 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 ,

The Federal Trade Commission said Friday that it is suing three drug middlemen, accusing them of inflating insulin prices. PBMs work with insurance companies to negotiate discounted prices from drug companies in exchange for including the drugs in their coverage. The drug was priced at $274 in 2017, as a result of the PBMs rebate system strategy, the FTC said. In July, Democratic and Republican lawmakers blamed executives from Caremark, Express Scripts and Optum Rx for sky-high prescription drug prices in the U.S. during an oversight committee hearing. The lawsuit also comes as states — most recently Vermont — have sued PBMs, alleging they drive up drug costs.

Persons: Cigna, Eli Lilly, Rahul Rao, It’s, Raja Krishnamoorthi, PBMs Organizations: Federal Trade Commission, FTC, CVS, Cigna's, Zinc Health, Ascent Health, Emisar Pharma Services, UnitedHealth, CVS Health, Novo Nordisk, Democratic, Republican, Caremark, New York Times, Republicans, ” Rep Locations: U.S, FTC’s, Vermont

But many people are still wondering, what does a rate cut mean for my money? For those who’ve been waiting it out, the rate cut “will instill some hope in folks,” said Elizabeth Renter, senior economist at NerdWallet. Consider your (improved) debt repayment optionsThis week’s rate cut was good news for those struggling to unload themselves of credit card debt. They’re a popular savings instrument when interest rates are high, and as most economists expected, CD rates have already started declining since the Fed’s interest rate cut. “This rate cut is not something that should trigger you to go make any drastic changes to the overall direction of your portfolio,” he added.

Persons: Jerome Powell, ”, Elizabeth Renter, Michele Raneri, “, “ It’s, Rodney Lake, It’s, cardholders, Now’s, Lake, don’t, Freddie Mac, ” Renter, they’ve, Raneri, Lee Baker, there’s, Bankrate, Baker, it’s, —, “ Don’t Organizations: NerdWallet, TransUnion, Federal Trade Commission, GW Investment, George Washington University School of Business, Apex Financial Services, P Locations: U.S

Qualcomm recently approached struggling chipmaker Intel about a takeover, CNBC has confirmed. Intel shares initially popped on the news before closing up about 3%, while Qualcomm shares fell about 3% at the close. Intel shares are down 53% this year as investors express doubts about the company's costly plans to manufacture and design chips. Intel has also missed out on the artificial intelligence boom that's captured the attention of Wall Street. Intel was unsuccessful with its attempted acquisition of Tower Semiconductor, as was Qualcomm in its bid to acquire NXP Semiconductor.

Persons: Patrick Gelsinger, Trump Organizations: Qualcomm, Intel, CNBC, Taiwan Semiconductor Manufacturing Company, Samsung, Nvidia, Tower Semiconductor, NXP Semiconductor, Broadcom, Federal Trade Commission Locations: China, Singapore, Europe, Asia

☆ 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

☆ Up to $400 to change a lightbulb? Appliance repair costs are no joke
▼ + stars: | 2024-09-20 | by ( Stephanie Dhue | Stephanie-Dhue | ) www.cnbc.com time to read: +8 min

It sounds like the setup to a lightbulb joke: How much does it cost to change a microwave bulb? While my lightbulb situation may be somewhat unique, experts say it is not uncommon to learn the cost of repairs is more than the cost to replace an appliance. Figuring out the cost for a repairMy first call to repair our microwave was to the appliance store where I made the purchase. Several states — including California, Maine, Massachusetts, Minnesota and New York — have implemented so-called "right to repair" laws. Some products designed 'with a hostility to repair'Consumer advocates say state laws and the FTC actions help, but haven't solved the problem.

Persons: Stephanie Dhue's, Stephanie Dhue, Gay Gordon, Byrne, Gordon, they're, Nathan Proctor, we've, Alex Reinauer, Proctor Organizations: GE, GE Appliances, U.S ., Getty Images, Federal Trade Commission, Competitive Enterprise Institute, Consumer, FTC Locations: California , Maine , Massachusetts, Minnesota, New York, Colorado, Oregon, South Dakota, France

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

☆ Companies without cyber insurance could be making a costly mistake
▼ + stars: | 2024-09-19 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +7 min

Many companies don't have cyber insurance because of costs, but the market is growing. Cyber insurance can help companies recover financially from cyberattacks and data breaches. But one way leaders can minimize the impact of losses from a cybersecurity incident is by getting cyber insurance. One reason is the cost: The Cyber Readiness Institute estimates that cyber insurance can cost businesses $500 to $5,000 a year. What cyber insurance does and doesn't coverMany policies offer first- and third-party coverage, and most companies need both, Engstrom said.

Persons: —, Shruti Engstrom, Engstrom, Josephine Wolff, Wolff, it's, Stephen Boyer, Boyer Organizations: Service, IBM, Tufts University, Insurance, Federal Trade Commission, Companies Locations: cyberattacks

☆ OpenAI's power players: Meet the 20 leaders helping shape the future of the AI giant
▼ + stars: | 2024-09-18 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +18 min

Last November, the sudden ouster of CEO Sam Altman and the resulting revolt by most of its employees cast doubts on the future of the world's most prominent AI company. While by no means a comprehensive list, below are some of the key power players who are helping to determine OpenAI's future. He took over for his former boss, Jason Kwon, who has since become the company's chief strategy officer. She's also been referred to as OpenAI's "minister of truth" for her efforts to ensure the company's AI products aren't deceptive or biased. ResearchJakub Pachocki, Chief ScientistRelated storiesPachocki joined OpenAI's research in 2017 after completing a PhD in computer science at Carnegie Mellon University.

Persons: —, Sam Altman, OpenAI, Sarah Friar, Friar, Goldman Sachs, She's, Jason Kwon, Kwon, Anna Makanju, Global Affairs Chris Lehane, Che Cheng, OpenAI's, Cheng, Mira Murati, Murati, Kevin Weil, Weil, Instagram, Peter Welinder, Peter Deng, Research Jakub Pachocki, Pachocki, Ilya Sutkever, Ilya, Mark Chen, Chen, Bob McGrew, Sam Altman's, Lilian Weng, Weng, Aleksandr Madry, Barret Zoph, John Schulman, Zoph, Alec Radford, Radford, Zico Kolter, Kolter, Paul Nakasone, Bret Taylor, Taylor, He's, Larry Summers, Fidji Simo, Melinda Gates, Nicole Seligman, Adam D'Angelo, Quora, Altman, D'Angelo, Andrea Appella, Haidee Schwartz, Schwartz, Akin Gump, She'll, Heather Whitney, Whitney, Morrison Foerster, Makanju, Sam, Biden, Chris Lehane, Lehane, Clinton Organizations: Service, OpenAI, Business, Microsoft, Apple, Google, Khosla Ventures, Global, Global Affairs, Amazon, supercomputing, Tesla, Meta, Twitter, ChatGPT Enterprise, Research, Carnegie Mellon University, MIT, Facebook, Security, Machine Learning Department, Carnegie Mellon Carnegie Mellon, Stanford, CMU, Safety, Security Committee, US Army, NSA, US Cyber Command, Defense Department, U.S, Melinda Gates Foundation, Global Competition, Netflix, Century Fox, Competition, Federal Trade Commission, New York Times, Harvard Law School, University of Chicago Law School, NYU, Canada, Global Policy, Public Affairs, House, Newsweek Locations: Europe, Washington, OpenAI, Silicon, Middle East, Asia, London, Chan, Airbnb

☆ 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

Lawyers for Washington state will have past grocery chain mergers – and their negative consequences – in mind when they go to court to block a proposed merger between Albertsons and Kroger. Albertsons and Kroger own more than 300 grocery stores in the state and control more than half of grocery sales there. They are trying to get the case dismissed, arguing a state court isn’t the proper venue to consider a nationwide ban. Albertsons and Kroger insist that their plan, including the sale of stores to C&S, will lower grocery prices and preserve competition. In 2016, Albertsons acquired a Haggen supermarket and then promptly closed an Albertsons store about a mile away in Birchwood.

Persons: general's, Haggen, ”, Tina McKim, Bob Ferguson, Kroger, Brad Weber, Locke, Judge Marshall Ferguson, Ferguson, Weber, McKim, ” McKim, “, She’s Organizations: Albertsons, Kroger, Federal Trade Commission, S Wholesale Grocers, Safeway, Fighters, Democrat, King County Superior Court, Walmart, Costco, U.S, FTC, Associated Press Locations: Washington, Oregon, Colorado, Bellingham , Washington, Washington —, Bellingham's Birchwood, King County, Seattle , Washington, Dallas, Birchwood

☆ Asia-Pacific markets open lower after gains on Wall Street; Japan and South Korea data in focus
▼ + stars: | 2024-09-11 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Asia-Pacific markets opened lower on Wednesday, despite gains on Wall Street ahead of the U.S. August consumer inflation report due Wednesday. Traders in Asia parsed key economic data from Japan and South Korea. South Korea reported that unemployment fell to 2.4% in August, the lowest level since 1999, when the data series commenced, according to Statistics Korea. The sentiment for non-manufacturers declined for a third consecutive month to plus 23, from plus 24.

Persons: Donald Trump, Kamala Harris, Canada's Alimentation Organizations: Traders, Statistics Korea, Reuters, Republican, Democratic, Federal Trade Commission, Taiwan Semiconductor Manufacturing Corp, Taiwan Locations: Ginza, Tokyo, Japan, Asia, Pacific, South Korea

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