Thursday, July 29

Antitrust

Alphabet, Antitrust, Bernie Sanders, Elizabeth Warren, Google, Joe Biden, Tech Insider, Technology

Biden tapped a prominent Google foe head up the Justice Department’s antitrust division

President Joe Biden has tapped a Google critic to head up the DOJ's antitrust division. Progressive favorite Jonathan Kanter has reportedly represented Microsoft and Yelp in cases against Google. Google is facing a tidal wave of regulatory scrutiny throughout the US and abroad. LoadingSomething is loading. President Joe Biden is set to nomina...
Antitrust, Berkshire Hathaway, Finance, Politics, Strategy, Warren Buffett

Warren Buffett reversed plans to buy a $1.3 billion pipeline to avoid antitrust scrutiny — and its shows how the rich and powerful see Washington’s growing regulatory threat

Warren Buffett's Berkshire Hathaway abandoned plans to buy a $1.3 billion natural gas pipeline. Buffett's energy company operates in states where the pipeline runs, which seller said the FTC could have used to block the deal. The abandoned purchase signals that Buffett sees a growing federal regulatory threat. See more stories on Insider's business page. Washington's beefing up its antitrust regulatory muscle, and billionaire investor Warren Buffet is seemingly well aware of it.The Berkshire Hathaway owner's energy subsidiary said Monday it's throwing out plans to buy a $1.3 billion natural gas pipeline that operates in 16 states, ...
Antitrust, European tech, France, Google, Regulation, Tech Insider, Technology

Google has been hit with another fine in Europe, this time for $593 million in France after failing to strike a deal with news publishers

French antitrust authorities have hit Google with a €500 million ($593 million) fine. The tech firm must negotiate a new deal with news outlets or face fines of nearly $1 million a day. A Google spokesperson told Bloomberg the company was "very disappointed" with the decision. See more stories on Insider's business page. Google has been hit with a €500 million ($593 million) fine by French antitrust authorities after failing to negotiate a deal with local news publishers to pay for their content. The move is the latest twist in an ongoing battle between social media companies, regulators, and news outlets around the world.Austral...
$1 trillion club, $1 Trillion Market Cap, $1 trillion stock, Antitrust, Antitrust lawsuits, Facebook, Facebook stock, facebook stock price, FTC, Mark Zuckerberg, Market Cap, Market capitalization, Markets, Tech, Tech Insider

Facebook is now worth $1 trillion after a US court’s dismissal of 2 antitrust lawsuits spurs jump in stock

Facebook CEO, Mark Zuckerberg. Chip Somodevilla/Getty Images Facebook hit a $1 trillion valuation for the first time on Monday after an antitrust court victory. A US judge dismissed two lawsuits lodged against Facebook by the FTC and state attorneys general. The social-media giant is the youngest of five US companies to reach the trillion-dollar milestone. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Facebook leapt into the $1 trillion territory on Monday after an antitrust court victory helped its stock reach that valuation for the first time, making it the fifth US company to achieve the milestone. The social-media giant's stock closed 4.2% higher on Monday at $355.64 per share, after a US federal judge dismissed two complaints filed against the co...
Antitrust, Beef, Cargill, Cattle, doj, JBS, Markets, MI Exclusive

Cattle markets have been upended, and big meat producers are making 20 times normal margins as beef prices soar

John P Kelly/Getty Images Soaring beef prices are making big meatpackers fat and happy while smaller players are left cleaning up the scraps, according to a New York Times story published this week.As restaurants have reopened and with America's grilling season underway, demand has upended cattle markets. Futures contracts on ready-for-slaughter cattle have shot up 6.6% year-to-date and 27.7% in the last year. Wholesale beef prices are up 40% since March.Meanwhile, meat-eaters are already paying 5% more for ground beef and 9% for steaks year-on-year, according to NielsenIQ data cited by the Times.Elevated demand is bringing on new supply. Second-quarter beef production and beef-cow slaughter rates are up year-on-year, 1.6% and 10% respectively, according to a RaboResearch report....
Antitrust, BI Commentary, Brett Kavanaugh, College Sports, Department of Justice, Economy, FTC, Markets, NCAA, Neil Gorsuch, Opinión, permalancer, Policy, Politics, Sports, Supreme Court

I was a Division I college football player. The Supreme Court’s NCAA ruling isn’t just a huge moment for college athletes — it’s a major warning to America’s biggest businesses.

The Supreme Court's unanimous ruling on the NCAA's benefits limit for athletes is a big deal. The decision weakens the NCAA's grip on college sports and could open the door to fair compensation for athletes. It also sends a signal that the Court could be open to more antitrust actions in the future. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider's business page. In a remarkable decision delivered on June 21, the Supreme Court ruled that restrictions on education-related benefits offered to college athletes by universities violated antitrust law — in ess...
Amazon, Antitrust, Apple, Big Tech, Facebook, Google, Nancy Pelosi, Politics, Tech Insider, Tim Cook

Apple CEO Tim Cook personally rang Nancy Pelosi to ask her to slow down 6 tech antitrust bills, according to a report

Apple CEO Tim Cook called Nancy Pelosi to try to slow tech antitrust bills, the New York Times reports. Pelosi reportedly challenged Cook to name specific policy problems. It's part of a lobbying drive from Big Tech companies against new bills that aim to regulate tech giants. See more stories on Insider's business page. Apple CEO Tim Cook personally lobbied House Speaker Nancy Pelosi as part of a sweeping effort by Big Tech companies to slow new antitrust legislation, The New York Times reported.The House Judiciary Committee will on Wednesday vote on six antitrust bills targeting Apple, Amazon, Google, and Facebook on Wednesday. T...