Amazon to Meet With FTC in Final Push to Avoid Antitrust Suit
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Amazon to Meet With FTC in Final Push to Avoid Antitrust Suit
(Bloomberg) -- Amazon.com Inc. will meet with Federal Trade Commission Chair Lina Khan and the agency’s three other commissioners next week in a final push to avoid an antitrust lawsuit, according to people familiar with the matter.
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The FTC, which has been investigating Amazon since 2019 over its online marketplace for third-party sellers, is finalizing a suit against the online retail giant. A meeting between the company and the FTC’s commissioners is often one of the last steps before either suit is filed or a settlement is reached.
The Biden administration has stepped up antitrust enforcement, seeking to reverse what it has viewed as decades of lax oversight over corporate consolidation and market power. Khan has long had Amazon in her sights — she wrote a seminal paper as a law student about rethinking antitrust laws due to the company’s dominance.
An Amazon spokesperson declined to comment. An FTC spokesman declined to comment.
The FTC, which has both antitrust and consumer protection mandates, has been investigating Amazon for potential anticompetitive conduct over several aspects of its business, including its marketplace, Prime subscription service and cloud computing. The agency opened a new investigation into Amazon Prime in 2021 focused on whether the service violates consumer protection laws by making it difficult for customers to cancel.
Amazon has pushed the FTC to recuse Khan from its case, citing her academic work and prior statements about the company. It has also accused the agency of harassing founder Jeff Bezos and Chief Executive Officer Andy Jassy with document and interview requests.
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RingCentral posted solid second-quarter results that edged Wall Street estimates, but the cloud-based telecom provider left its full-year view mostly intact.
2h ago - Investopedia
Top CDs Today: National Rate Leader Holds at 5.75% But Best 3-Year Rate Dips
Today's top three nationwide CD rates are 5.75% APY from Andrews Federal Credit Union, 5.60% APY from Northern Bank Direct, and 5.55% APY from Sallie Mae Bank.
2h ago - Zacks
MannKind (MNKD) Reports Break-Even Earnings for Q2
MannKind (MNKD) delivered earnings and revenue surprises of 100% and 15.65%, respectively, for the quarter ended June 2023. Do the numbers hold clues to what lies ahead for the stock?
2h ago - Zacks
The Zacks Analyst Blog Highlights BlackRock, Charles Schwab, HIVE, Block and CME Group
BlackRock, Charles Schwab, HIVE, Block and CME Group are included in this Analyst Blog.
15h ago - Yahoo Finance
Biden’s green energy law is turning out to be huge
The green energy bill Biden signed a year ago is turning out to be more transformative than first imagined.
3h ago - Zacks
CRISPR Therapeutics AG (CRSP) Reports Q2 Loss, Tops Revenue Estimates
CRISPR Therapeutics AG (CRSP) delivered earnings and revenue surprises of 55.05% and 2,085.45%, respectively, for the quarter ended June 2023. Do the numbers hold clues to what lies ahead for the stock?
2h ago - FreightWaves
1st peek at Pilot’s finances after Berkshire Hathaway ownership grows
The quarterly earnings report from Berkshire Hathaway was the first with a full set of financial numbers from Pilot. The post 1st peek at Pilot’s finances after Berkshire Hathaway ownership grows appeared first on FreightWaves.
4h ago - Barrons.com
Eli Lilly to Report Earnings as Hope Soars for Weight-Loss Drug Mounjaro
Things couldn't be going much better for the drugmaker. The stock is up about 50% over the past 12 months and nearly 25% so far this year.
2h ago - Business Insider
China's economy is trapped in a downward spiral that authoritarian regimes are doomed to repeat
Like other authoritarian regimes, China's economic development is following a predictable pattern, said the Peterson Institute's Adam Posen.
1d ago - Barrons.com
Intel CEO Pat Gelsinger Just Bought More Stock
Shares of the chip company Intel have gained about 35% so far this year as they gain ground lost in last year’s rout. The CEO just bought $250,000 of stock.
7h ago - American City Business Journals
CVS Health prepares for Medicare-induced headwinds
Medicare Advantage patients are seeking more outpatient care than expected, driving down segment profits, CVS executives said.
5h ago - Zacks
Under Armour (UAA) Queued Up for Q1 Earnings: Factors to Note
Under Armour's (UAA) first-quarter fiscal 2024 results are likely to reflect supply-chain impacts and adverse currency fluctuations.
9h ago - SmartAsset
Ask an Advisor: Should I Cash Out My Annuities?
I have a significant sum invested in several annuities. I would like to switch that money into index funds and pay taxes as the money is withdrawn. Is this recommended? How would I do this? -Vlad Transferring any amount of … Continue reading → The post Ask an Advisor: Should I Cash Out My Annuities? appeared first on SmartAsset Blog.
10h ago - Zacks
Should You Buy Twilio (TWLO) Ahead of Earnings?
Twilio (TWLO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
9h ago - American City Business Journals
Chevron merger deal rewarded departing PDC Energy execs with more than $100 million
The executive team of PDC Energy leaves with the deal's Monday closure. Here how much they're projected to make in the $7.6 billion the transaction.
3h ago - Zacks
Is a Surprise Coming for Celsius Holdings (CELH) This Earnings Season?
Celsius Holdings (CELH) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
11h ago - American City Business Journals
Atlanta company Veritiv to go private in $2.3 billion deal
Veritiv, the 19th-largest public company in Georgia, maintains its headquarters in Sandy Springs. The New York private equity firm that would acquire Veritiv has a portfolio that includes David's Bridal.
5h ago - Bloomberg
Teamsters Deny Yellow’s Claim That Union Caused Trucking Firm’s Bankruptcy
(Bloomberg) -- The International Brotherhood of Teamsters balked at Yellow Corp.’s efforts to blame the union for financial woes that sent the short-haul trucker spiraling into bankruptcy.Most Read from BloombergMusk Says He May Need Surgery, Will Get MRI on Back and NeckTexas Power Prices to Surge 800% on Sunday Amid Searing HeatPayPal Launches a Stablecoin in Latest Crypto Payments PushEastern US Prepares for a ‘Potent’ Storm System: Weather WatchUkraine Black Sea Drone Attacks Signal Rapidly
4h ago - Barrons.com
Tesla CFO Resigns and Stock Falls. Investors Recall Other Management Volatility.
Zachary Kirkhorn, who some watchers of the EV company have said could take on an expanded role if CEO Elon Musk wanted to do less, is stepping down.
2h ago - Zacks
Novo Nordisk (NVO) to Report Q2 Earnings: What's in the Cards?
Novo Nordisk's (NVO) Diabetes and Obesity Care products are expected to have boosted sales in the second quarter of 2023 amid severe competition and pricing pressure in the United States.
8h ago - Investor's Business Daily
Dow Jones Chip Giant Intel, 3 Other Top Stocks To Buy And Watch
Dow Jones chip giant Intel, along with MercadoLibre and Lennar, are top stocks to buy and watch in today's stock market action.
4h ago - Barrons.com
Why Berkshire Hathaway Reports Earnings on Saturdays
Berkshire Hathaway historically reports its quarterly financial results on weekends, and CEO Warren Buffet has a simple reason why. Berkshire (ticker: BRK.A, BRK.B) reported second-quarter earnings Saturday morning. Many other public companies, however, release their earnings results during the trading week, either before the market opens or after the closing bell.
11h ago - Investor's Business Daily
Li Auto Stock On Cusp Of Record High, Tesla Rival Eyes First $3 Billion Quarter
Booming sales should boost Li Auto earnings but delivery outlook will be key. LI stock has more than doubled in 2023 and is on the verge of an all-time high.
3h ago
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