By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Trade Commission on Wednesday accused Amazon.com of enrolling millions of consumers into its paid subscription Amazon Prime service without their consent and making it hard for them to cancel, the agency’s latest action against the ecommerce giant in recent weeks. The FTC sued Amazon in federal court…
(Reuters) – Telecom Italia is restarting its efforts to sell a minority stake in its enterprise unit, potentially valued at more than 6 billion euros ($6.6 billion), Bloomberg News reported on Thursday, citing people familiar with the matter. The company’s CEO Pietro Labriola started sounding out potential investors about a deal earlier this month by…
By Howard Schneider WASHINGTON (Reuters) -Further Federal Reserve rate increases are “a pretty good guess” of where the central bank is heading if the economy continues in its current direction, Fed Chair Jerome Powell said in remarks on Wednesday to lawmakers on Capitol Hill. In response to a question late in a three-hour hearing before…
(Reuters) -Technology trade groups as well as Alphabet’s Google have griped to the Federal Trade Commission about allegedly unfair business practices in the cloud, including by the industry’s No. 2 by market share Microsoft. The comments, which were due Wednesday, respond to a March request from the U.S. agency for information on security issues and…
(Reuters) -Activist investor Elliott Investment Management is increasing pressure on NRG Energy and seeking to oust its CEO Mauricio Gutierrez, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Elliott is in talks with potential candidates to replace the U.S. power company’s CEO as well as other top executives, the report…
By David Shepardson WASHINGTON (Reuters) -A group of 17 Democratic U.S. lawmakers on Wednesday urged the Federal Trade Commission to finalize new consumer protections for car buyers despite objections from auto dealers who argue the rules would actually raise the cost of buying a car. The FTC in June 2022 proposed banning fees and bait-and-switch…
By David Shepardson WASHINGTON (Reuters) – A U.S. Senate panel on Wednesday invited PGA Tour Commissioner Jay Monahan, Saudi Arabia’s Public Investment Fund Governor Yasir Al-Rumayyan and LIV Golf CEO Greg Norman to testify at a July 11 hearing. Democratic U.S. Senator Richard Blumenthal, who chairs the Permanent Subcommittee on Investigations, and the panel’s top…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed lower on Wednesday as Federal Reserve Chairman Jerome Powell’s congressional testimony reinforced the central bank’s objective to rein in inflation as he hinted at the likelihood of further interest rate hikes. All three major U.S. stock indexes notched their third straight daily declines, with megacap…
By David Shepardson WASHINGTON (Reuters) -Alaska Airlines is “anxious” to begin taking deliveries of the larger Boeing 737 MAX 10 to help it carry more passengers once the plane is certified, the carrier’s CEO Ben Minicucci said on Wednesday. Boeing must first win approval from the Federal Aviation Administration for its smaller MAX 7 before…
(Reuters) – Bitcoin rallied for a third straight day after hitting its highest level since mid-April, boosted by BlackRock’s plan to create a bitcoin exchange-traded fund (ETF) even as the sector faces U.S. regulatory scrutiny. BlackRock, the world’s biggest asset manager, filed last week for the exchange which would allow investors to get stakes in…
