instagram and then whatsapp and the argument, there were two lawsuits related, one was from the federal trade commission states around the country, arguing that facebook was operating as a monopoly, that it was anti— competition, in effect, operating against the law. facebook has said that these lawsuits were nonsensical and it seems the judge in this case agrees that there is no case. he did not say nonsensical but he said that as far as the federal trade commission was concerned they simply had not provided the evidence that facebook, as a social media company, was dominating the social media landscape so much that it was a monopoly. and as far as the states claim, facebook instagram and whatsapp should be broken up and thejudge instagram and whatsapp should be broken up and the judge said that this happened a long time ago. was almost a decade ago and if they had a case they should have brought the lawsuit earlier. he did not completely throughout these cases. he gave the federal trade commission an extra month to restate its case and try again. so while facebook may be celebrating, certainly from th

he gave the federal trade commission an extra month to restate its case and try again.he stocks over the last few hours, this may return. that is an interesting point. he sounded like a teacher telling a pupil to go off and have another try at your homework. it may come back. nonetheless, the instant response has been impressive for facebook shares. yes. the company is now worth more than $1 trillion for the first time. clearly that is the general response to this. the judge was quite colourful in what he was saying to explain his point of view. ultimately anti—trust action is based on public opinion which occured six years ago, he said. before the launch of the apple watch and when ebola was the virus dominating the headlines. it did happen some time ago and perhaps the social media landscape has changed since then. let's turn now to a mangrove forest in papua, indonesia, that only women are allowed to enter. for generations, it's where women have gone to gather clams and share stories. if men are found inside the forest, they're fined. an all female crew from the bbc

he has gave the federal trade commission about a month to restate its case and try again.cks over the last few hours, this may come back. and update for you on the action on the euros on monday night. world champions, france, have been knocked out by switzerland after the swiss managed to get an equaliser in the very last minute of normal time. it was 3—3 after normal time. it was 3—3 after normal time and went to a penalty shootout. that went to a great save from the swiss keeper, and the striker was the one, as you can see there he missed the crucial kick. so, well done, switzerland. ranch are out. —— the french are out. the spaniards went into extra time in their game. 5—3, and with a place in the quarterfinals. just to say that it will be england and germany next. that is bbc news. hello. best place for the drier and sunnier weather during the first part of this week certainly in scotland and northern ireland. and with the blue skies out in the highlands on monday, temperatures lift to a very pleasant 25 celsius. and we will see similar sorts of temperatures in souther

and as for the federal trade commission case, the court said that with all the allegations, the federal trade commission put in its complaint, the judge didn't think that there were enough allegations so that he could infer that facebook has a monopoly power. and that's one of the 2 stages that the f t c must get over to in the case, the 1st one being monopoly power, the 2nd being illegal conduct. so yes, it's nice for the f t c that they have a 2nd chance. and i believe they turn the ledge to show that facebook has monopoly power. but the big thing is, how can a judge dismiss a comply? just because he doesn't think that there are sufficient allegations to prove that facebook has monopoly power? i think the whole world knows that facebook has dominant power and our law is so conservative that it puts the plaintiff to burdens of proof that sometimes it just kept me. yeah, and it was interesting to hear that from the judge in a way you're wondering if he's actually trying to help out the f tc by telling them, hey, this is what you need for your argument. but then at the same time, you're

thejudge said the federal trade commission failed to show facebook had a monopoly power stop here isthe acquisition _ peter bowes. it goes back to the acquisition of _ peter bowes. it goes back to the acquisition of both - peter bowes. it goes back to the acquisition of both of- the acquisition of both of those so instagram back in 2012, four $1 billion, and then what's up a couple of years later, or $19 billion. the argument, there were two lawsuits, related, one was from the federal trade commission and the other a coalition of some 45 states around the country, arguing that facebook was operating as a monopoly, that it was anti— competition and in effect operating against the law. facebook had said that this lawsuit, all these lawsuits, were nonsensical and it seems thejudge lawsuits, were nonsensical and it seems the judge in this case agrees that there is no case. he didn't say nonsensical, but he said that as far as the federal trade commission was concerned they simply hadn't provided the evidence that facebook as a social media company was dominating the social media landscap

on c-span to the senate holds a confirmation vote for the federal trade commission.o take up the president's nominee to head up the office. that starts live at 10:00 a.m. first, the senate judiciary committee takes up a house passed immigration reform bill. 2:00 p.m. the house oversight committee continues its probe into the january 6 attack on the u.s. capitol -- u.s. capitol. during a news conference after the nato summit, president biden urged people to get the coronavirus vaccine. reporters also asked him about u.s.-russian relations in his upcoming meeting with president vladimir putin. president biden: good evening. be i

now the one of the particular cases here was brought by the food and by the federal trade commission in december, the federal trade commission also known as the f t c. this is the agency that deals a lot with monopoly matter. the judge in washington dc said that the f t c had not provided enough concrete facts to support its assertion that the, that facebook was acting as a monopoly in social networking. however, the judge did not entirely dismiss this case. instead, it gave the f t c agency, 30 days to come back with a re filed complaint. presumably with some more facts in an separate matter, the judge, same judge, dismissed a series of lawsuits filed by state governments. that said that facebook had attempted to extend its monopoly power by buying up nascent competitors like whatsapp and instagram, which the company did in the early part of the last decade. and the judge said that too much time elapsed since facebook made those acquisitions for this to go through . so what it means ultimately is that it's very difficult or more difficult than many people would think for the governme

the federal trade commission and $46.00 state attorneys general, sued facebook for anti competitive behavior, alleging its rapid growth had come at the expense of consumers. but a district judge has now ruled. there's lack of evidence that the company is a monopoly. our financial correspondent, ash, band days, joins us now from frankfurt. after tosh. what does this court decision me in the, for the ongoing efforts to rein in big tech in the us? well, jeanette, for one. it is a reality check for the government for thought it makers who are looking to rein in the big tech. it just shows that if they are to act against the big, big they've been, that action must be based on facts. it must comply with the law of land. it can just be driven by political reasons of motive. otherwise, it would not stand a chance in any court. that's like the big take away from this ruling. now this could also prompt those authorities to actually double down on the efforts reading the big tech. and we are already seeing that layout. in the case of google, where the justice department has actually stepped up its brok

critic of amazon under the us tech. authentic confirm to appointment as chairman of the federal trade commission this month. brazil is unemployment rate stayed as a reco. it's 14.7 percent and the fair from every to april. $15000000.00 people were out of west or so that's as a new wave of co infection swept latin, america's largest economy of europe in union and united kingdom have agreed to extend a grace period on import a fresh meat to northern ireland from the rest of the u k. post breakfast customs arrangements have prompted a route nicknamed sausage was the 3 month reprieve. will come as a relief to british traders, but does nothing to solve the wider conundrum of trade across the irish sea. over her most beautiful roses used to come from england. but now nursery owner, beth lunney can only get roses from holland. her customers near belfast prefer the english roses with beautiful names like the dark lady. but northern ireland has had special economic status in specs it. it's still belongs to the single market, and the u has strict regulations to prevent the import of pests. there was a pos

federal trade commission, lina con his name for her work as a professor at columbia law school. and as an avid scholar of anti trust matters, now he was about to start handing out the 1st billions of it's pandemic recovery fund. the block is hoping to spend its way out of a similar aftermath to that scene after the 2008 global financial crisis. pandemic has already meant the destruction of hundreds of thousands of businesses, though with retailers hit particularly hard. we refer from berlin, mary, jamie o, christopher, each of the leather products in gusty laid as new, sharp, as a name. the rust up based company has been trading since 2009. but for most of the time, customers had to order online. product information was only available by a video cause delay to sound wasn't happy about that. no. was he happy about the 200000 bureaus, a monthly paid to keep his company at the top end of search engine result. so he decided to escape from the internet as he puts it, and then the lamb and anguish online. because in the end, you're incredibly dependent on facebook, amazon, and google.

the federal trade commission says americans lost more than $80 million and crypto currency investment scams between october and march. that's a 1000% increase from the previous year. there are several types of scams out there including one where con artist place fake ads online promising to triple your investment. it requires you to give them your crypto currency, often what happens is it's gone when you try and remove it from the investment fund. >> scammers send emailed posing as levees including well-known investor elon musk. >>> another live look outside now in san jose, the bay area, the heatwave is on. mary is back with a final check of weather, next pray >>> >>>: pineapples are fantastic, they have a lot of vitamin c but have the acidity or less than half as a white pineapple, that's why they've been alone for around for so long. you can also try it on the grill, cut and slice it on the grill, not all well, no olive oil, just let the sugar come out on the grill, they taste so good. when you by your golden pineapple, you want to make sure the eyes are nice and plump like this. a

. >>> the federal trade commission has agreed to a $61 million settlement against amazon for failing amount of their tips. the federal trade commission claims that back in 2016 despite saying 100% of tips went to drivers, the company pocketed about a third of the tips and use them to offset the guaranteed minimum payment to the drivers. the settlement represents the full amount of the tips that were withheld and they will be sent to the drivers by the federal government.>>> inflation is up again this month resulting in the largest year-over-year increase since august 2008. the consumer price index rose 5% over may of used to vehicles saw one of the biggest jumps and prices with the cost of a use car increasing 10% in april and then another 7.3% in may, better than the stock market if you are hanging onto a used car. >> people don't want to use to public transportation. >> there aren't enough chips for the new cars being made. they are just sitting there. some of them are getting out. used cars just keep going up in value because you cannot get enough new cars. >> makes sense. a team o

for the federal trade commission. members also take up the president's nominee to head up the office. that starts live at 10:00 a.m. first, the senate judiciary committee takes up a house passed immigration reform bill. 2:00 p.m. the house oversight committee continues its probe into the january 6 attack on the u.s. capitol -- u.s. capitol. during a news conference after the nato summit, president biden urged people to get the coronavirus vaccine. reporters also asked him about u.s.-russian relations in his upcoming meeting with president vladimir putin. president biden: good evening. before i begin, i want to say a few words about our fight against covid-19 at home. we made enormous progress in the united states. much of the country is returning to normal, and our economic growth is leading the world and the number of cases -- in the number of cases and deaths are dropping dramatically. but there are still too many lives being lost. we are still averaging the last seven days of 370 deaths per day. 370 deaths, that si

the former chief technologist at the federal trade commission has the same concerns. >> people pay forovider, for these services. for amazon to help themselves to that bandwidth is pretty questionable. >> people who want to opt out of the shared network can go into the amazon or ring app and turn it off. michelle medina reporting with cbs news, los angeles. >> owners of most new echo devices would be included in a network along with certain ring floodlight and spotlight users. some ring doorbells will be used in the coming months. >>> a museum for all program is being expanded. medi-cal and cal fresh users can get free or reduced admissions year-round. >> the funding should not be expensive, this should be fun, it is about education, art, culture, and having a good time in san francisco. >> the expansion includes 20 locations, including the children's creativity museum, and the stern grove festival is back in san francisco for an 84th season. the free concert series does kickoff on june 20, the festival just announced a summer lineup, the series begins with a grammy-winning singer and

. >> reporter: the judge dismissed the federal trade commission's antitrust lawsuit against the social media company. this judge ruled the ftc did not provide enough evidence to prove that facebook was a monopoly. the feds teamed up with 48 states claiming that the tech giants abused its market power and social networking to crush smaller competitors. but the judge said government lawyers and did not provide clear data. did not prove it come to show how much of the market facebook actually controls. >> this is a large case. the ftc and 48 different parts of the states. it is very effort that fell on its face. that these are monopolies, underscores how hard it's going to be for this case to move forward. >> over the acquisitions of what's up and instagram. the judge says the states waited too long to make their case. after the rulings, facebook stock of course jumped and went up 4%. that was enough to lift facebook's market value to get this more than $1 trillion. it joins now apple, microsoft, amazon, and alpha that, in that very exclusive club. that facebook is not exactly in the coul

this week joe biden and a vocal silicon valley critic to had the federal trade commission, america'sop regulator. the e.u. is also trying to overhaul its digital policies with new proposals to police content and reduce market monopoly. apple chief executive tim cook said the changes were not in the best interest of users, but that apple will continue engaging in conversation with brussels. both cook and macron were addressing vivatech. thomas: kate moody with business news. thank you very much. next, if you are a bookworm, a fan of all types of printed matter or if you simply have taken an interest in ancient history, today's focus report is for you. hidden deep in northwest africa are thousands of books and manuscript, many of which date back as far as the 12th-century. our colleagues have been finding out, these are rare collections at risk. >> it was once the cultural capital of mauritania in the heart of the sahara. for 1000 years, this ancient city has welcomed travelers crossing the desert. as nomads came and went, many left remnants behind. historical tests were in light breez

. >> reporter: christopher leach with the federal trade commission says americans have lost more thanency scams between october and march. a 1,000% increase from the previous year. there are several different scams out there including one where con artists place fake ads on line promising to triple your investment. >> but it requires you to give them your cryptocurrency. often what happens is that poof, the crcryptocurrency is gone whn you try and remove it from the investment fund. >> reporter: scammers also send emails posing as celebrities including well-known crypto investor elon musk. >> and saying if you give me some cryptocurrency, you can be entered into a drawing to win more. >> you have to be super careful who you trust. >> reporter: larson learned it the hard way but will continue to trade. >> there's still a tremendous opportunity to make money in crypto, and i'm still going to take advantage of that. >> reporter: he reported his massive loss to authorities. since crypto crimes are often untraceable, he doesn't expect to see the money again. cbs news, new york. >>> coming

on c-span two, the senate holds a confirmation vote for the head of the federal trade commission and memories take up the president's nominee to head up the office of personnel management. that session starts live at 10 a.m. at 2 p.m., hearings on c-span3, the senate judiciary committee takes up an immigration reform bill and a 2 p.m., the house oversight committee continues its probe into the january 6 attack on the u.s. -- in the u.s. capital. >> senate intelligence committee member mark warner talking about his legislative priorities. he is asked about infrastructure talks and a variety of foreign intelligence challenges. >> 117 congress in an evenly split senate most diverse house of representatives in the history >> good morning. i am karen, a columnist here at the washington post, the right of politics and i want to thank you for joining us in the latest on our series on the 117 congress. our guest this morning is senator mark warner, the chairman of the senate intelligence committee and also a key negotiators in this bipartisan effort going on in the senate, president biden's

decision to drop the anti trust case against the social media giant on the grounds of the federal trade commission. and a group of state attorneys general waited too long before pursuing action. but this likely won't be the end of it as the judge gave the f t c a chance for a do over. and he will allow an amended complaint to be filed by july 29th. he called for the agency to closely follow the court guidance and noted which parts of the complaint would need more information for a case to be made against facebook. now all this claim was pursued in federal court . the f t c also has the option of going before the agencies own administrative law judge moving forward. notably, bypassing a one trillion dollar market cap. facebook joins and elite club that includes apple, amazon, in google, all of whom are all facing anti trust lawsuits from the us government. here in the nation's capital, a one trillion dollar bipartisan infrastructure bill is teetering on the brink of collapse. that's because republicans and democrats remain at odds over the framework of that bill, even though president biden announc

well, the federal trade commission, along with 48 states, filed the lawsuit. so we said, december accusing the company of abusing its market power in social networking and for acting in a monopolistic way. they argue the company simply bought out its competition by something of instagram in 2012 and what's up 2 years later, the judge ruled prosecutors should have blocked those acquisitions of the time if they had a problem with them. well, the court's decision is clearly a significant blow to efforts by anti trust officials to rein in the tech joins today's development in the f t. c. case against facebook shows that anti trust reform is urgently needed. congress needs to provide additional tools and resources while anti trust in forces to go after big tech companies engaging in anti competitive conduct. so i've got a palo experts to help us make sense of all this. i'm very happy to welcome onto the program. the host of the pseudo intellectual podcast, lauren chin, political activist, anthony rogers, right on host of harvison reality check, curry horace, and yo

these technologies can help the consumer products safety commission and the federal trade commission improve their operations and more effectively carry out their mission. technological advances have exploded the range of products on the marget and as consumers shop online, these products are being shipped to homes. artificial intelligence can help oversee the complex range of products by helping identify new injury trends and emerging hazards. a.i. can help to monitor online marketplace for illegal sale of products and assistance of recalled products and third-party marketplace that is a problem that puts americans at risk. months after the dangerous fisher price rock and play and inclined sleepers were recalled, the consumer reports investigation found these products were being sold on sites like facebook marketplace and craigslist. and i'm hopeful that artificial intelligence can be harnessed to eradicate the sale of these recalled products in online marketplaces. they could assess the risk of growing numbers of imported consumer products entering our country and being sent to con

a while ago the federal trade commission and others sued facebook, accusing it of illegally maintainingposition by buying up the competition. that case has been tossed out. thejudge the competition. that case has been tossed out. the judge said that the regulator failed to back up its case by providing enough evidence that facebook holds a monopoly in social networking. but, all is not lost for the agency that wants to break up facebook because thejudge gave it to break up facebook because the judge gave it 30 days to refile the case. the appointee for the ftc byjoe biden, the first major task for her will be rewriting the law that was criticised. as for the other case, thejudge criticised. as for the other case, the judge that it needed to be dismissed because too much time had passed since the alleged offences took place. the lifting of the hammer sent the network's stocks soaring, up the network's stocks soaring, up 4%. it pushed its market value over $1 trillion for the first time. in a statement, the company said, we are pleased that today's decisions recognise the defects in the g

enforcement against technology giants, was confirmed by the senate today for a seat on the federal trade commission gives democrats a majority control of the commission. khan, a 32-year-old columbia law professor, rose to prominence as a year law student when she wrote a research paper casting amazon as a harmful monopoly. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. amanda: welcome to bloomberg markets. i'm amanda lang. matt: i'm matt miller. we welcome our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. in just a few moments, we will speak to john tory, the mayor of toronto, about the cities red-hot housing market amid a new report from bloomberg economics that dubbed canada one of the frothy is to markets in the world. more on draftkings as shares drop by the most since march after a short seller said it is betting against the online gambling company. and we will preview what to expect from president biden and p

risk and a different approach to antitrust enforcement promised by the new chair of the federal trade commission

a judge granted its request to dismiss to complaints filed last year by the federal trade commissionnd state attorneys general. jp morgan reportedly is boosting its pay for junior bankers. according to the uk's financial news, the bank is offering first-year analysts salaries of $100,000. younger bankers have complained of longer hours due to the boom in m&a. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> i just don't think the inflation we are seeing and the policy growth we are seeing today is sustainable. and that perspective, i think the future doesn't look quite as bright as what we have seen in the past. jonathan: from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market this tuesday morning, all-time highs, just pulling back 0.25 points. we are off by 0.01%. in the bond market, 1.4917%. dollar strength the story through g10. euro-dollar, a break of $1.19 to the downside. we

. ♪ emily: amazon's takeover of the movie studio mgm is said to be reviewed by the federal trade commissionc will oversee the antitrust condition of the geo -- deal instead of the justice department. the $8.4 billion reveal will have an early test for the agenda. the outspoken tech credit took over as chair role in -- chairwoman of the fcc last week following chair confirmation. there's a new wave of venture capitalists that called for a new diverse generation of founders. they are making real change. joining me for more on this topic is the managing partner just recently closed a $50 million fund back start up lead exclusively by black founders. thank you so much for joining us. let's talk about your strategy here, your mission, and where will you put this money to work. click super excited about what we are doing. with our focus being on getting black innovative founders. the funding 10 years ago when i became a founder. but the way that we are doing it is a little bit different than traditional venture capitalist. the main thing that we are doing different is we are increasing the chance

and just come from someone with a federal trade commission in silicon valley.ws to take down this tech monopoly to break them up. a law review article outlining amazon's predatory practices and how to change policy to stop them. good for her. this past week, members of both parties announced their support for a package of antitrust legislation come a long overdue. monopolies, clear monopolies like google, amazon, apple, facebook would be broken up with these laws were enacted. one bill called the ending platform monopolies act will break up companies who use control over market like e-commerce to extort and destroy competitors and other industries. this is what monopolies do every time. again, you can't have a free market with monopoly. that is econ 101. so you would think house republican leader kevin mccarthy would be excited by all of this. he's a capitalist. he's been telling you he's worried about the dangers of big tech monopolies for years. and bipartisan support to do something about it. wear gray though, kevin mccarthy as opposed to this antitrust legi

bush found in her stack of mail a letter from the office of the inspector general of the federal trade commission. it read in part in doing a routine check it appears you have recently been engaged in downloading pornographic material. we respectfully request that you report to the regional office in portland, maine on august 17th for a hearing at 8:30 a.m. lying next to her husband in bed reading through her mail she blurted out to him she might be going to jail. i wasn't there when this transpired but i was told president bush managed to keep it together for a few minutes before dissolving into laughter. he had written the letter with the help of some staff members. you know, that was part of the secret to their wonderful marriage. they knew how to laugh and how to tease each other. >> can you tell the story president and missus bush are both in the hospital and he comes to visit the room, his hair is all messy. tell that story what you? >> about a week before she died they had both been in the hospital that she had been dismissed and we get word at the methodist hospital we get word that she's

critic of nathan under the us tech. authentic confirmed her appointment as chairman of the federal trade commission this month. so brazil is unemployment rate stayed as a rec, or 14.7 percent and the ferry from every april. 15000000 people were out of work during the course of that. as a new wave of co infection, sweat latin, america's largest economy of europe in union and united kingdom have agreed to extend a grace period in port a fresh meat to northern ireland from the rest of the u. k. host breakfast customs . arrangements have prompted a route nicknamed sausage was the 3 month reprieve will come as a relief to british traders, but does nothing to solve the wider conundrum of trade across the irish sea. her most beautiful roses used to come from england, but no nursery owner, beth lunney can only get roses from holland. her customers near belfast prefer the english roses with beautiful names like the dark lady. but northern ireland has had special economic status in specs. it. it still belongs to the single market and that you have strict regulations to prevent the import of pests. there was

club yesterday topping a trillon after a judge dismissed an anti trust lawsuit from the federal trade commission state attorneys general. the lawsuit could have forced thome breaka far. >> also i'm still replaying your robot from the last your in my head. thank you for that. >> no. lynn for the win. that's who gets it. >> cbs money watch.com. thank you. >> i love diane king hall doing the robot. >>> we have seen a lot of wild wear encounters but nothing like that. one visitor said that the mom bear grabbed a family's cooler and just started eating their leftovers. for the most part people stood back and were enjoying the moment. the thing is when mom bear gets in the cooler, you just let her be. she doesn't need to ask. she has no manners. it's okay. just let her have it. >> let her do what she wants. >> i will be the one to say this as cute as that this, this is not good for those bears. hopefully someone will make sure they get taken faraway from that beach so they live to enjoy the forest in private. i hate it be a downer. i'm concerned about their well being. here is your view. michelle has

they were brought by the federal trade commission and a coalition of state who claimed facebook violates its antitrust laws. i am vonnie quinn, this is bloomberg. yvonne: still ahead, "bloomberg markets: asia," some of the best speakers at the bloomberg economy forum. we will look at how our guest's has goals for sustainable food production. haslinda: next, a young ceo heading up one of southeast asia's biggest e-commerce companies. now valued at around $1 billion. exclusive interview with ankiti bose next. this is bloomberg. ♪ yvonne: the past year has transformed nearly every aspect of our world, with dramatic shift in jobs, communications, and finances. that was under discussion at the catalyst virtual event. that's ceo of an australian firm spoke to us about his global ambitions, and how millions are driving it. >> that has been an interesting last 12-month period. from our perspective, the primary shift has been away from credit debit. you are seeing that translated insignificant risk in by now, pay later. the next generation of consumers are getting more powerful in their impact on

reporter: a federal judge distancing two antitrust complaint against facebook brought either federal trade commissionsaid the complaint failed to show that facebook was a monopoly. investors were happy with the decision the stock surging 4% but josh halley tweeted this is deeply disappointing from a court which acknowledged massive market power but shrugged his shoulders, bad results for the american people. different tech companies, different cases at least for facebook as of now, a win for facebook but apple and google and others are in the midst of this. todd: it will be interesting to see how the bipartisan coalition led by josh halley will respond to this and how it affects the other cases. it will be the story of our times. california banning state travel to florida and a bunch of other states. >> reporter: the state banning taxpayer-funded travel to florida and four other states in response to transgender laws, california's a g7 travel to arkansas, north dakota, west virginia, bans the states restrict chant transgender youth from playing sports and block access and a couple states and in some

trading. what we are talking about is the dismissal by a federal judge of two lawsuits that had been filed by the federal trade commissionneys general from 40 u.s. states. he just didn't see that they had established claims that facebook was a monopoly. a lot of the litigations are focused on the takeovers of instagram back in 2012 and whatsapp in 2014, and the judge kinda figured it is a little late in the game to be questioning these deals. one of the lawsuits can be refiled within 30 days. we will see if that happens. nonetheless, what we are seeing with facebook as a stock that has done better in the past 12 months in the s&p 500, up about 59% during that time, and it has actually been up all but one calendar year since it went public in 2012. that was the exception in 2018. so you look at the business, instagram is the biggest single piece of facebook's market cap. whatsapp doesn't show up there because facebook really doesn't generate revenue from it. so you are looking at instagram and facebook, more than 90% of that $1 trillion value represented. we should note facebook has only been public for about nine years ,

the lawsuits were brought by the federal trade commission and a coalition of states who claim facebook violated antitrust laws by buying instagramming whatsapp. the plaintiffs have 30 great -- buying instagram and whatsapp. the plaintiffs have 30 days to refile. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haidi: coming up, our exclusive interview with the country's biggest buy now pay later company, planning a foray into retail banking. don't miss our conversation with nick molnar later this hour. next, u.s. banks are boosting payouts and buybacks after the recent stress tests. we will get you the details. this is bloomberg. ♪ s bloomberg. ♪ shery: the biggest u.s. banks are boosting payouts and continuing buybacks after clearing the fed's stress test. among the highlights, morgan stanley doubling its quarterly dividend to $0.70. let's bring in our finance editor. morgan stanley not disappointing. they are leading the pack. what are they saying? >> that

president biden named lina khan as chair of the federal trade commission after the senate confirmed herlier in the day. khan is a prominent critic of big tech. she wrote a widely hailed paper on the failure of antitrust laws to reign in amazon while she was a law student at yale. senator elizabeth warren celebrated the news, tweeting, "with chair khan at the helm, we have a huge opportunity to make big, structural change by reviving antitrust enforcement and fighting monopolies that threaten our economy, our society, and our democracy." the biden administration announced new measures tuesday to combat domestic terrorism following a review of extremist threats and in light of the january 6 insurrection at the u.s. capitol. the new approach includes hiring more analysts and prosecutors at the justice department and fbi, improving communications on possible threats between the federal government and local authorities, as well as with social media companies. attorney general merrick garland spoke tuesday after the white house plan was released. >> the two most lethal elements of the domesti

. >> a source tells us that the white house plans to tap lena khan as chairwoman federal trade commissionirmed by the senate to be a commissioner at the ftc today by a vote of 69-28. but now a source telling us that she would actually lead the agency someone who is noted as a vocal critic of big tech companies one industry group called net choice said her activism detracts from the federal trade commission's reputation as an impartial body that enforces the law in a nondiscriminatory fashion. she is someone who has worked at the house judiciary committee on that big antitrust investigation into big tech companies like facebook and google. now a source telling us that the white house plans to tap lina khan as chairwoman of the ftc, back over to you. >> ylan mui, thank you it's considered a progressive win for those who were pushing biden to do something on big tech ftc already has an investigation going against amazon and filed an antitrust lawsuit against facebook she wrote the paper on amazon and some of the monopoly concerns there this is potentially a worrisome time for them. >> ftc, c

federal judge dismissing a massive anti-trust complaint against facebook, ruling that the federal trade commissionence to support its case that facebook has a monopoly over social networking the ftc has the option to re-file that complaint within 30 days also dismissed, a lawsuit from state attorneys general hoping to force facebook to divest instagram and what app >> stocks closed above $1 trillion in market cap juul agreeing to pay $40 million in a settlement. the company admitted no wrong doing but did agree to change how it advertises and sells e-cigarettes the land mark settlement is the first of its kind. juul's also being sued by at least nine other states for similar reasons. the cdc reports one in five u.s. high school students admitted using e-cigs in 2020 >>> and time usa getting literal support from kim kardashian, thanks to her shape wear line skims, she says i am honored to announce that skims is dee siepg the official team usa undergarments, pajamas and loungewear this is the first time a brand has been named as the first underwear provider for outer wear, they will be wearing ralph

because they will beat you down that's how i feel about this federal court ruling against the federal trade commissionto stop facebook from monopolizing the social networking business in a way that hurts its users ju the judge wasn't having any of it the ruling was a primmer on how the ftc and the 40 states that sued with them were so incredibly wrong in the way they brought the case and the remedies they asked for. it was embarrassing. his room was filled with caustic comments one big better luck next time reproach i say better luck next time because i am confident there will be a next time. the regulators are gunning for facebook and other big tech outlets. the only thing that the democrats and republicans seem to agree on. they fumbled to explain who facebook was hurting, let alone why they were hurt or what should be done about t i am sure they will go at it again at the same time, he did lay out a roadmap for how a more competent regulatory agency might go about bringing a stronger case. you can bet that the ftc's new chair, the 32-year-old firebrand lena kahn will start pursuing facebook in a mu

bush appointee, ruled the federal trade commission failed to provide enough evidence to make a case that facebook operated a monopoly. the judge gave the ftc 30 days to file an amended lawsuit. in a second ruling, judge boasberg threw out another anti-trust suit brought by 46 state attorneys general, ruling they waited too long to bring their claims. the court rulings sent facebook's share price soaring, bringing ceo mark zuckerberg's estimated personal wealth to over $128 billion, while facebook's market capitalization topped $1 trillion for the first time. a new book claims former president donald trump asked in february 2020 if the u.s. could send citizens infected with coronavirus to the guantanamo bay prison, asking aides in the white house situation room, "don't we have an island that we own?" "washington post" reporters yasmeen abutaleb and damian paletta also write in their book "nightmare scenario" that trump complained to then-health and human services secretary alex azar on march 18 about coronavirus testing. trump reportedly said -- "i'm going to lose the election because of