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The Latest Breaking News from FTC

Amazon facing major anti-trust lawsuit for allegedly ripping off customers and suffocating competition

‘Amazon is a monopolist and it is exploiting its monopolies in ways that leave shoppers and sellers paying more for worse service,’ FTC chair Lina Khan said

The Independent UK

Amazon sued by FTC and 17 states over allegations it inflates online prices and overcharges sellers

The Federal Trade Commission and 17 state attorney generals filed an antitrust lawsuit against Amazon on Tuesday, alleging the e-commerce behemoth uses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition

The Independent UK

U.S. sues Amazon in a monopoly case that could be existential for the retail giant

The Federal Trade Commission and 17 states accuse Amazon of suffocating rivals and raising costs for both sellers and shoppers.

WEKU

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read the most diverse news in one place.

Competition, Not Antitrust, Is Humbling the Tech Giants

The worst of the antitrust alarmism keeps proving untrue, as tech companies believed by some to be monopolies instead lose market share.

Reason

Biden Administration Forgives $37M In Student Debt For University Of Phoenix Victims

FTC investigation leads to relief for borrowers as Biden's broader debt forgiveness plan faces hurdles.

Zenger

Fortnite refunds — how to apply for a piece of $245 million ‘deceptive practices’ settlement

The FTC accused Epic Games of using “design tricks aimed at getting consumers of all ages to make unintended in-game purchases” and making it easy for kids to rack up charges without parental consent.

Chicago Sun-Times

Did your kids buy gear in Fortnite without asking you? The FTC says you could get a refund

Parents whose kids bought virtual gear without their knowledge on the popular Fortnite video game could soon be able to get a refund

The Independent UK

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Microsoft leaked a new Xbox Series X and upcoming Bethesda games

The FTC accidentally leaked several unredacted documents from Microsoft’s antitrust hearing over the Xbox Activision acquisition

USA Today Sports Media Group

Microsoft's massive Xbox leak is an error for the ages

The FTC blames Microsoft for the accidental publication of confidential documents relating to future Xbox consoles and Bethesda games.

Fortune

Elder Scrolls 6 will not come to PlayStation 5

Elder Scrolls VI will be an Xbox console exclusive, according to Microsoft

Evening Standard

Free prescription discount cards from GoodRx — What’s the catch?

GoodRx’s prescription savings program offers significant discounts on prescription drugs, but not without some catches

The Independent UK

Another Elon Musk book dropped on Tuesday: U.S. attorneys ripping him for Twitter's 'chaotic environment,' full of anecdotes from former workers' depositions

Comments follow attempt to terminate a privacy settlement.

Fortune

Twitter chaos after Elon Musk takeover may have violated privacy order, DoJ alleges

US Department of Justice questions compliance with FTC order on data security and privacy practices

The Guardian - UK

3 Pharma Stocks for Value Investors

The aging global population and the growing demand for drugs and therapies to treat chronic diseases are boosting the long-term prospects of the pharmaceutical industry. Amid this backdrop, value investors could consider buying fundamentally strong pharma stocks GSK plc (GSK), Horizon Therapeutics (HZNP), and Neurocrine Biosciences (NBIX), as they are…

StockNews.com

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Reason

HHS Asks DEA To Reclassify Cannabis as Equivalent to Testosterone and Codeine Tylenol

Plus: Tennessee prosecutor threatens to use drag law that was declared unconstitutional, ACLU asks FTC to investigate Mastercard's adult content policy, and more...

Fortune

A.I. trained on private user data never really 'forgets'

As it turns out, it’s impossible to remove a user’s data from a trained A.I. model. Deleting the model entirely is also difficult—and there’s little regulation to enforce either option.

The Independent UK

How to avoid the biggest text message scam putting your money at risk

Bank impersonations are the top reported type of text message scam

The Independent UK

How to avoid the No. 1 text message scam putting your money at risk

Bank impersonations are the top reported type of text message scam

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news in one place.

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Windows Central

To appease the CMA, Microsoft restructures the Activision Blizzard King deal

Microsoft Vice President Brad Smith has penned a blog regarding the Activision Blizzard King deal that details Microsoft's plans to sell cloud gaming rights for ABK titles to Ubisoft in perpetuity.

Reason

Most Republican Voters Aren't Loyal Trumpists, Suggests Survey

Plus: Kansans fight over driver's license gender markers, chain restaurants bridge social divides, and more...

Windows Central

Microsoft retracts bizarre AI-generated article that recommended Ottawa Food Bank as a tourist attraction

Microsoft recently posted an article on Microsoft Start (MSN) highlighting top places to visit while in Ottawa, Canada, the third option on the list was off-putting. This is because it recommended the Ottawa Food Bank as one of the top sites.

Reason

The Biden Administration's Antitrust Changes Would Be Great for Bureaucrats—and Bad for Consumers

The guidelines would ignore decades of academic findings about how firm concentration can have a positive impact on consumers' welfare.

Kiplinger

Experian to Pay $650K Fine for Spamming People

People seeking to freeze their credit data online were hit with unsolicited emails and no way to opt out.

Reason

Appeals Court Rules in Much-Anticipated Abortion Pills Case

Plus: Court urged to stop Arkansas' social media age verification law from taking effect in September, legalizing medical marijuana linked to lower insurance premiums, and more...

Chicago Sun-Times

The FTC wants to ban fake reviews and fine people who write them

The hope is that the fines alone will deter people from making fake reviews, which in the long run will benefit consumers and marketers.

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Dipanjan BanchurSince

ANDREW CABALLEROREYNOLDS

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