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The Latest Breaking News from FTC

Users of Fintech App Brigit to Get $18M in Refunds

The fintech app falsely promised cash-strapped users instant cash advances and locked them into monthly memberships that they couldn't cancel, the FTC charges.

Kiplinger

Dueling interests ask if Biden goes too far on AI or falls short - Roll Call

President Joe Biden’s executive order on artificial intelligence could empower agencies to overstep their bounds or lack the teeth to be effective.

Roll Call

The Wildly Misleading Statistic at the Center of the FTC's Antitrust Case Against Amazon

Lina Khan says this number is crucial to understanding Amazon's monopoly power, but she's either confused or lying about what it means.

Reason

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Vonage Users to Get Nearly $100 Million In Refunds In Junk Fee Case

The FTC says Vonage made it hard for customers to cancel service and charged hundreds of dollars in surprise junk fees in some cases.

Kiplinger

Uttar Pradesh: Jailed don and four time MLA Vijay Mishra awarded 15-year imprisonment in rape case

VARANASI: Bhadohi district's fast track court (MP-MLA) awarded 15 year imprisonment and fine of Rs one lakh to jailed mafia don and four time MLA Vijay Mishra in gang rape case.

The Times of India

Amazon designed its algorithm at Jeff Bezos's urging to be something it wanted to show you, not the cheapest and best product, government claims

New revelations from the FTC’s antitrust lawsuit claim that Bezos pushed for “expensive, irrelevant advertisements” because they were so profitable for Amazon.

Fortune

Amazon used an algorithm to essentially raise prices on other sites, the FTC says

A newly unredacted portion of the Federal Trade Commission's antitrust lawsuit against Amazon says the company used a secret algorithm that essentially helped the company raise prices on other online sites

The Independent UK

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US government orders financial firms to report data breaches in less than 30 days

Mortgage brokers, investment firms, and similar, now need to be more diligent with their reporting of cybersecurity incidents.

TechRadar

Amgen (AMGN) Earnings Watch: Buy or Sell?

Amgen (AMGN) is scheduled to report its third-quarter earnings soon, with Wall Street analysts expecting year-over-year improvements in revenue. However, its earnings are expected to miss the consensus estimate. Moreover, the company completed the acquisition of Horizon Therapeutics earlier this month. Considering these factors, is the stock a buy or…

StockNews.com

Will Twitter/X survive? One year on from Musk's takeover, we look at what's changed

Elon Musk remains defiant, insisting the prognosis is rosy as he redesigns the social media platform in his own image

Evening Standard

How to spot a crypto scam

In the Wild West of cryptocurrency, the crossover between legitimate business and scam is sometimes too close to call.

Fortune

Amazon (AMZN) Earnings Forecast and Gameplan

Amazon’s (AMZN) second-quarter revenue and earnings surpassed analyst estimates, and the company issued optimistic guidance for the third quarter. However, it continues to face challenges, including sluggish growth in its cloud and e-commerce businesses and the FTC’s anti-trust lawsuit. So, let’s determine if you should buy, hold, or sell this…

StockNews.com

Amazon Q3 Preview: 5 Key Things to Watch in This Week's Earnings

FAANG heavyweight Amazon will release its highly anticipated Q3 earnings this week. Here's what analysts expect from the report and the 5 key things to watch out for on the earnings call.

Barchart

Exhausted Amazon staff fight back against retail giant at global UK summit

Meeting in Manchester is part of worldwide action – including Black Friday protests – over tax, market abuse and workers’ rights

The Guardian - UK

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Reason

Is It Time To Trust-Bust Taylor Swift?

The pop singer's new concert film inadvertently makes the case for big businesses with sweeping market power.

The Independent UK

Reese's $25,000 promotion may violate sweepstakes laws

Reese’s may be violating state and federal laws with a sweepstakes offer currently advertised on packs of peanut butter cups

Fortune

Behind the scenes of week 2 of Sam Bankman-Fried’s trial

Caroline Ellison testified about bribery, FTT, Thai prostitutes, and her surprisingly small equity package.

WEKU

Biden proposes a ban on 'junk fees' — from concert tickets to hotel rooms

A rule proposed by the Federal Trade Commission would outlaw hidden and "bogus" fees. Officials estimate that junk fees cost consumers at least $64 billion each year.

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news in one place.

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WEKU

Amazon sellers say they made a good living — until Amazon figured it out

The federal government has sued Amazon for allegedly using its monopoly power to stamp out rivals. Now, some small businesses that sell on the marketplace reveal what it's like to depend on Amazon.

The Independent UK

FTC proposes a ban on 'junk fees' and says hidden charges push up prices

The Federal Trade Commission is proposing a rule to ban any hidden and bogus “junk” fees, which can mask the total cost of concert tickets, hotel rooms and utility bills

Salon

Yelp's brand new public wall of shame

Major businesses, from restaurants to repair companies, are being put on blast for violating Yelp's policies

The Conversation

Dark patterns: how online companies strive to keep your money and data when you try to leave

Have you signed up to an online service for a free trial, decided it isn’t for you, but still ended up paying for it months – or even years – later? Or tried cancelling a subscription, and found yourself giving up during the painstaking process? If so, there’s a good…

The Independent UK

The Amazon antitrust lawsuit is likely to be a long and arduous journey for the FTC

The Federal Trade Commission’s long-awaited antitrust lawsuit against Amazon is the most aggressive move it has taken yet to tame the market power of a company that’s become synonymous with online shopping and fast deliveries

The Conversation

US regulator is suing Amazon – here's what this could mean for your online shopping

If you’re one of the more than 200 million Prime members Amazon claims to have worldwide, you’ll be well aware of the benefits. Among other things, it gives you access to a video and audio streaming service and free, fast delivery on all Amazon-dispatched items – for less than £100…

Reason

My amicus brief in today's Fifth Circuit horseracing case

The Horseracing Integrity and Safety Authority has an Appointments Clause problem.

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