In a filing with the U.S. District Court for the District of Columbia, the FTC said that for more than a decade, Facebook's market share - for example, more than 70% of daily active users - exceed the levels needed to establish monopoly power.
It said that Facebook sought to maintain its monopoly position by buying photo-sharing app Instagram and secure messaging app WhatsApp."The FTC has once again brought a monopolization case without a monopolist. Its claims ignore the reality that people have more choices than ever before in how they share, connect, and communicate, and its second complaint should be dismissed just like the first," a Meta spokesperson said in a statement.
The FTC also argued that Facebook was wrong to ask that Chair Lina Khan be recused from voting to approve the amended complaint. The FTC said it was originally filed before she was nominated to the commission and it would be the court, not the commission, which decided the case.Reporting by Diane Bartz and Chris Sanders, Editing by Rosalba O'Brien and Grant McCoolSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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Biden calls on FTC to probe anti-consumer behavior by energy companies as gas prices soarThe Biden Administration is asking the Federal Trade Commission to investigate 'mounting evidence of anti-consumer behavior' by energy companies as gas prices hover at multi-year highs. These people have no shame. He needs a scapegoat and oil companies are an easy target as they have few friends. If they are so manipulative and operate in a world of collusion why did they permit the monumental fall in prices in 2020? Slicing the pipeline to jack-up gas prices was pretty anti-consumer, Brandon.
Source: CNBC - 🏆 12. / 72 Read more »
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Soaring gas prices prompt Biden to urge FTC to examine potential 'illegal conduct'President Biden asks FTC to investigate 'anti-consumer' behavior by oil and gas companies and whether it's a reason for the soaring gas prices across the country. He said gas…. Maybe he should look at himself...Keystone XL pipeline halted as Biden revokes permit White House Confirms Biden Effort to Shut Down Another Major Pipeline It's both an upstream & downstream problem WTI prices are soaring so there's no reason for shale producers from extracting more oil Refineries & distributors exacerbate price hikes by prioritizing 'best' customers for deliveries Biden hasn't curtailed production in any way
Source: NBCNews - 🏆 10. / 86 Read more »
Biden asks FTC to 'immediately' look into whether illegal conduct is pushing up gas pricesPresident Joe Biden asked the Federal Trade Commission on Wednesday to 'immediately' investigate whether illegal activity by oil and gas companies is pushing up gas prices as he searches for a way to reduce pain at the pump. They pushing the price of gas to pass the build back broke agenda. Let's go Brandon Shutting down drilling on federal lands and Shutting down pipelines definitely helps lower the cost at the pump. More the U.S. shuts down production, the cheaper fuel becomes. Right? How can POTUS - the “leader” of the free world - not understand basic supply vs demand economics? And how his executive order to shut down construction of the Keystone XL Pipeline would make it more difficult (and thus more expensive) for producers to get crude oil to refiners?
Source: CNN - 🏆 4. / 95 Read more »
NRA loses federal appeal over New York gun store closuresA federal appeals court on Tuesday ruled against the National Rifle Association in the gun rights group's lawsuit challenging New York state's closing of gun stores early in the COVID-19 pandemic.
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Alex Murdaugh case: Palmetto State Bank, PMPED settle with Gloria Ann Satterfield heirsOne party named in a civil lawsuit against former South Carolina attorney Richard 'Alex' Murdaugh has agreed to settle out of court, and another party not named has also settled.
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