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The Latest Breaking News from FTC

$1 billion went down the drain in crypto scams last year

And that’s likely just the tip of the iceberg.

Mic

Social Media And Crypto a Combustible Combination for Fraud: FTC Report

Social media and cryptocurrencies are a combustible combination for fraud, with nearly half the people who reported losing crypto to a scam since 2021 saying it started with an advertisement, post, or message on a social media platform, according to a report by the US Federal Trade Commission (FTC).

Benzinga

Why your ability to repair a tractor could also be a matter of life and death

US farmers’ struggles for the right to fix their own, now highly computer-controlled equipment, have implications for us all

The Guardian - UK

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Biden Says Fighting Inflation Is His Top Economic Priority. His Antitrust Policy Would Make Inflation Worse.

Attacking big firms just for being big could drive up prices.

Reason

Twitter To Settle Complaint Alleging It Used User Phone Numbers To Target Ads For $150M

Twitter Inc (NYSE: TWTR) will pay $150 million in civil penalties after the social media platform settled a complaint that alleged that the company used its members’ email addresses and phone numbers to target them with advertisements.

Benzinga

US Hits Twitter with $150 Mn Fine Over Privacy Breach

Twitter agreed to pay $150 million to settle allegations the platform gave advertisers some user information that was supposed to be employed to strengthen account security, US authorities said Wednesday. The Federal Trade Commission and the Department of Justice accused Twitter of taking phone numbers or email addresses provided to…

Asharq Al-Awsat

Twitter to pay $150M penalty over privacy of users' data

Twitter will pay a $150 million penalty and put in new safeguards to settle federal regulators’ allegations that the social platform failed to protect the privacy of users’ data over a six-year span

The Independent UK

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Twitter will pay a $150 million fine over accusations it improperly sold user data

Federal regulators accuse the company of violating a 2011 agreement over the treatment of users' personal data, including phone numbers and email addresses.

WEKU

The private sector steps in to protect online health privacy, but critics say it can’t be trusted

Most people have at least a vague sense that someone somewhere is doing mischief with the data footprints created by their online activities: Maybe their use of an app is allowing that company to build a profile of their habits, or maybe they keep getting followed by creepy ads.

Tribune News Service

Washington Attorney General Indicts Meta's Mark Zuckerberg For Alleged Role In Cambridge Analytica Scandal

The attorney general for Washington, D.C., charged Meta Platforms Inc (NASDAQ:FB) Facebook founder Mark Zuckerberg for allegedly participating in decision-making that led to the Cambridge Analytica data breach, the Wall Street Journal reports. The evidence shows Zuckerberg was personally involved in Facebook’s failure to protect the privacy and data of its users leading…

Benzinga

Larry Summers' new inflation target: Biden's "hipster" antitrust policies

Larry Summers is criticizing BIden's antitrust police on inflation, including the FTC and DoJ.

Axios

Banning 'Unconscionable Excessive' Gas Prices Is Risky Economic Nonsense

Democrats are trying to inject a political solution into an economic problem.

Reason

House approves bill to take aim at gasoline 'price gouging'

A closely divided House has approved legislation to crack down on alleged price gouging by oil companies as prices at the pump continue to soar

The Independent UK

FTC to set its sights on ed tech companies

The commission prepares to take action against companies seen as using "surveillance" on kids.

Axios

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Tribune News Service

Senators seek FTC probe of IRS provider ID.me selfie technology

A group of Democratic senators has asked the Federal Trade Commission to investigate whether identity verification company ID.me illegally misled consumers and government agencies over its use of controversial facial recognition software.

Reason

Elizabeth Warren Introduces Price-Gouging Bill That Fails To Define What Qualifies as Price Gouging

The bill would penalize companies for price gouging during times of war, public health emergencies, or natural disasters—which would have encompassed all of the last two years.

Tribune News Service

Is Petco's certification as a 'humane' retailer false advertising? PETA says yes

A valued certification for humane animal care awarded to Petco Health & Wellness in March is now under attack by PETA, which contends it amounts to false advertising.

Axios

Lina Khan's to-do list on Big Tech

With a key spot on the FTC now filled, the commissioner has a chance to pursue a bigger agenda.

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news in one place.

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Tribune News Service

He got Congress to care about antitrust again. Now time is running out, Rep. David Cicilline says

WASHINGTON — David Cicilline was late getting into antitrust, at least for him.

Tribune News Service

Musk faces FTC antitrust review on Twitter alongside stock probe

The U.S. Federal Trade Commission is reviewing Elon Musk’s $44 billion Twitter Inc. takeover, a person familiar with the deal said, setting up a deadline in the next month for the agency to decide whether to conduct an in-depth review of the transaction.

USA Today Sports Media Group

Sony’s $3.6 billion acquisition of Bungie is reportedly under federal investigation

As consolidation concerns grow within the games industry, the agency is being thorough.

Asharq Al-Awsat

Report: Musk’s $44 Bln Buyout of Twitter Faces US Antitrust Review

The US Federal Trade Commission (FTC) is reviewing Tesla Chief Executive Elon Musk's $44 billion takeover of Twitter Inc, Bloomberg News reported on Thursday, citing a person familiar with the deal. The FTC declined to comment, while Musk could not be reached for comment. The agency will decide in the…

Reason

Should the FCC Block Elon Musk from Buying Twitter?

Last week, the Open Markets Institute called on the FCC, the FTC, and the DOJ to block Musk from buying Twitter: Yesterday Twitter's board agreed to sell the corporation to Elon Musk, the owner of Tesla and SpaceX. The Open Markets Institute believes the deal poses a number of immediate…

Roll Call

He got Congress to care about antitrust again. Now time is running out, says David Cicilline - Roll Call

If Democrats lose control in the midterms, as most election handicappers expect, it could spell trouble for the push to rein in Big Tech.

Tribune News Service

Wall Street is betting that Microsoft-Activision deal will fail

Activision Blizzard Inc. shareholders approved the company’s $69 billion sale to Microsoft Corp on Thursday, but Wall Street is betting that Biden antitrust enforcers could unravel one of the largest mergers in U.S. history.

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