the ftc says americans have lost more than $80 million since october. acr000% from the fall of 2019. the average loss is about 1900 bucks. the ftc says the losses are taking place as more people try to understand what into the spirit.s all about.tas the retailer is adding beer, wine and other alcoholic beverages to its same-day delivery service. the new option will be available at 600 stores across the country by the end of month. customers can pick up alcohol at curbside drive-up and order pickup in 29 states. the move comes after successful pilot programs in florida, california and south dakota last year. anne-marie. >> now, it seems even more appropriate to call it tar-jay. >> exactly. oh, i love it. tar-jay. did you go to tar-jay today. >> oh, yes, oi oi. diane, thank you so much. >> all right. >>> all right. up next, prince harry and oprah winfrey open up about mental health. we'll show you a preview of their new docuseries. levar burton. this is the sound of an asthma attack... that doesn't happen. this is the sound of better breathing. fasenra is

senator from bidens ftc nominee to plan to support her nomination?> i have not made my mindom up yet i have not gotten a chance to talk with her much yet. i'm impressed with her and oppress withun her background impressed with her work in this area. i think she's talked very serious about monopoly problems. er mii think her track record demonstrates that. i think the kind of voice she has brought on these issues is a really important i one. >>on senator i want to switch gears a little bit. you are the only senator to vote against the bill targeting hate crimes against asian americans. you said it was too broad, but what do you think should be done to target hate crimes? speech at my issue with that bill is section four pray this is an anti- free-speech bill. as a first amendment guy and a former first met lawyer think that really, really seriously. this bill does not create a new hate crimes or change hate crimes are onn the books. hate crimes, let's be clear are already barred pretty could not commit let's put it this way if you commit a crime again

there's a lot going on in europe and around the world and we have our cases at the doj, the ftc and with the states attorney general. what you see is a most likely outcome of those cases especially regarding google since that's we have the most experience? could a company like google and large tech companies live with a little bit of antitrust regulation or some conditions put on them as proposed by a court? or exist totally untenable if there is any result that result in google having to act differently. >> guest: most of them are already living under some kind of regulation or consent decree from past cases beat be ony consumer protection, some cases antitrust. there's a desire among many people for enforcers to bring more cases against the big tech companies. they have. i'm not sure this cases are going to succeed because i think one of the things that some of them are based on is really a complaint by one actor about the marketplace. in the realm of antitrust, a lot of the big antitrust debates intact really are about marketplaces. tech has a lot of what i call three said it marketpl

was but one company then they bought the only other drug and the prices went from $85 to $1600 the ftc try to take it on that failed in court this means things because monopolies are messing around with people so that's why wrote the book and why it matters. i have tried my best but new ones as well just to make the point this is something that the real political issue and if you don't know a lot about it you need to learn about it because we need to get bills passed in congress and put pressure on people i cannot do it alone every time i try it is like a game of whack a mole so these tech companies and simply because they tried to pay for content and if they can walk from an entire country they can do damage in everyone's life. >> think of an ally from the other side of the aisle senator kennedy from louisiana. how did that come about? what are the dynamics of a liberal democrat and a very conservative republican those concern for the common good? >> he cares about newspapers and making sure they don't all go away to be controlled by whoever is providing our news we got together to wo

senator a lot of the ideas i'm hearing from you today sound a lot like ideas we heard from biden's ftc nominee , doo you plan to support her nomination? >> you know i have not made my mind up yet. have not had chance to talk with her much yet. i am impressed with her i'm impressed with her background i'm impressed with her work in this area. she is thought sears about monopoly problems. her track record demonstrates that. the boys she's brought o on these is a really important i one. >> center i want to switch gears over what should be done to target hate crimes section four it's an anti- free-speech bill. this bill does not create any new hate crimes or change hate crimes on the book let's be clear are already barred. let's put it this way if you commit a crime against somebody based on their race or their religion or their ethnic background federal law punishes you for that that's as it should be my issue for this bill did not change any of that what it did do is in section four gave to the department of justice the power to track, monitor and define what it calls hate incidents. tho

congress needs to address that with new tools so the ftc and the antitrust division can move forwardffectively to deal with these monopolies. is not up to the court to create law of constitutional government but the legislative branch. we have remained on our ability to do that and is time we step forward to take on that responsibility. steve: do you have the bill in the works? when will we see a bill potentially pass to do what you are talking about? >> you will see five or six bills introduced in may and each will chip away at the power of these five tech companies in each has bipartisan support and bicameral support and i anticipate by the end of the year these will be signed into law. takes a law, it takes a while to enforce them once they become law but the first step has to change and amend and strengthen the law to make sure law enforcement can move forward and you said something critical in your opening statement that we should not have this agency like a purveyor of truth looking at the censorship activities to decide if they are good or not. that is absolutely right. it is

things like timers -- >> now, the ftc is prioritizing children and taking steps to safeguard them. under the settlement, you promised to stop illegally marketing targeted ads to children. videos now have been labeled as made for kids, as you just mentioned. and made for kid videos will no longer include a comment section or screens that allow vowers to subscribe to children. so are you allowing this behavioral advertising to be turned off? >> yes, senator, we do not serve personalized advertisements on made for kids content. >> okay. i am over my time. i have a question i will submit for the record. thank you, mr. chairman. >> thank you, senator blackburn. senator blumenthal. >> thank you, that you remember. thank you to all of our witnesses for being here. it's a very, very critically important topic and hearing. covid-19. approving the bipartisan act which i led alongside of senator moran. we've known for a long time hate crimes are authorized. the videos of individual crimes with facebook, twitter and youtube no matter how horrifying, only part of the story well in proof hate cr

to have as part of our conference in these virtual events, an fcc chair, two fcc commissioner's, two ftc commissioners, a panel with academic board members, and now of course today we are delighted to have with us a key congressman who i will introduce in a moment. if you have not heard, this is the 15th annual free state foundation anniversary. we started in 2006. we are excited about that. some time before the end of the year, we will have a proper celebration of that key milestone. i know c-span is joining us today. we are always delighted to have our c-span audience with us, and we are grateful c-span is covering another free step foundation event, as they have many times in the past. we are pleased to welcome back once again congressman bob latta for today's session. i say welcome back because congressman latta has participated in at least two previous free state foundation events, albeit it has been a while, and since then much has occurred, not the least of which is a pandemic. a lot has changed. i want to formally introduce congressman bob latta, and with his permission, i will g

the ftc reports crypto currency scams have surged since october. nearly 7000 people report bogus investments since then and lost more than $80 million. >>> a major media merger just unveiled today, it could create another streaming heavyweight. at&t and discoveries they they struck a deal to create a new company combining discovery with warmer media. under the terms of the deal, they would get $43 billion and a combination of cash and that. shareholders will have a 71% st the other 29%. stomach it looks like the show will go on for the bottle rock festival. and this evening we know who will be headlining. >> those are some incredible videos. that is just a taste of what you can expect. foo fighters, guns stevie nicks just three of the top headliners. the napa valley festival runs from september third to the fifth. tickets go on sale thursday and for more information, head to our website, kpix.com. stomach sf announced its season lineup as feeders are set to reopen in the fall. the return to live theater, well, it will start with the miracle. jesus

the ftc is warning of potential scams related to crypto currency more than 2 million dollars in cryptocurrency has been sent to impersonators tesla ceo elon musk in just the last 6 months. some victims were targeted by people pretending to share tips about investing in cryptocurrency. others have been for my web sites and look like waste investor actually fakes to avoid these scams. authorities say you should never send money to sites guarantee a huge return on investments. the mega million jackpot has climbed mean once again, the top prize for tonight's drawing is now up to 468 million dollars. that's the 9th largest prize in the game's history. it's also the second time in the last 2 years, the jackpot has swelled to that level your odds of matching all 6 numbers is about one in 300 million. well, coming up on the next hour, the kron 4 morning news breaking news out of oakland. several people were shot. >> one person on a bus. we're live with the latest details ahead. so you want to make the best burger ever? then make it! that means cooking day and night until... [ ding ] success! that mean

have this conference as a virtual event with two fcc chairs, to sec chairs, to fcc commissioner's, two ftc commissioners, a panel with prestigious academic board members. and now, today we are delighted to have with us a key congressman, who i am going to introduce any moment. by the way, this is the free state foundation's 15th annual -- excuse me, 15th anniversary this year. we started in 2006. we are excited about that and sometime before the end of the year, we are going to have a proper celebration of that key milestone. one other by the way, i know c-span is joining us today. we are always delighted when we have our c-span audience with us, and we are grateful that c-span is covering another one of the free state foundation's events, as they have many times in the past. so now, we are pleased to welcome back, once again, congressman bob latta for today's session. i say welcome back, because congressman latta is made it to at least two previous free state and nation events, although it has been a while. and since then, much has occurred, nothing least of which is a pandemic. so a lot

george. >> that's the ftc. how is law enforcement running this down?rm or deny if they're investigating any of these government imposter scams, but we do know that federal authorities, the apprehended the manager of a call center in india, and he was running a scam very similar to that dea scam and has scammed about 5,000 people for about $10 million. george. >> oh, my goodness. kaylee hartung, thanks very much. michael. >>> all right, george, coming up next, our "play of the day." ♪ ♪ ♪ ♪ let out the vegas in you. life... doesn't stop for diabetes. be ready for every moment, with glucerna. it's the number one doctor recommended brand that is scientifically designed to help manage your blood sugar. live every moment. glucerna. if you have postmenopausal osteoporosis and a high risk for fracture, help manage your blood sugar. now might not be the best time to ask yourself... 'are my bones strong?' life is full of make or break moments. that's why it's so important to help reduce your risk of fracture with prolia®. only prolia® is proven to help strength

the ftc order doesn't require you to police the channels the designate their content. however, the commissioner said youtube should have to take the extra step of creating an algorithmic classifier. i know your engineers are capable of designating and designing algorithms for all sorts of purposes. is the engineering team capable of designing an algorithm that can identify a designated content and turn off behavioral advertising? >> they are capable of that and we do require the creators to designate but we also run classifiers as you mentioned to check the system and determine what content is appropriate to be made for children. also, just to be clear we do not allow personalized advertising on the made for kids content. >> are you prioritizing profit over children? >> no, senator. child safety on the platform is our top priority. we build our products with parental control. >> the ftc is prioritizing children and taking steps to safeguard them. under the settlement you promised to stop illegally marketing the ads to children and videos now have been labeled as made f

what do you take from progressive firebrands like tim wu gaining spots in the administration at the ftcnd the white house? what does that say to you? adam: i think that tech deserves scrutiny and i think it is healthy to have people who are critics of tech. in some ways, it is normal. tech had a long political honeymoon probably through the , end of the obama era. i think now what you see is tech is leaving its dirty laundry on the floor, and now some politicians are threatening to file for divorce. some of the proposals that are put forward, breaking up companies, turning gig workers into full-time employees, i think they are more extreme than where voters and consumers are at. so by all means, let's debate some of these ideas, but let's have relationship counseling, let's figure out what kind of problems the policymakers are concerned about, and let's put the rules in place that ideally channel the good of technology while reducing and mitigating the bad, the excesses, the abuses. because that is the way that we regulate most every industry. we recognize that there is an underlying go

peter: when it comes to telecommunications and communications issues, the ftc should be watched, as wellhley: absolutely. we've got acting chairwoman slaughter over at the federal trade commission, she is very respected as well. she worked for senator schumer for many years. she is very proconsumer. she had a colleague who is now going to the financial protection board. so we really need to see what is going to happen at the federal trade commission, who's going to be in charge, because they're going to shape what happens to facebook and potentially amazon. peter: gopal. gopal: quickly, i would add, to supplement what they said about fcc, there was a bunch of group of democratic female lawmakers, just wrote a letter to president biden, asking him to nominate rosenwhistle as permanent chairwoman of the fcc. if she gets that, she would be the first woman to head that federal body. and rosenwhistle, in addition to what emily and ashley pointed at in terms of broadband equity that she's been focused on, she's also been fairly focused on the lopsided priorities of the trump administration whe

does seemed like on the area more power over speech when you talk about having companies proved to the ftcwhether the politically neutral to get section 230 immunity, it just seems like some of these positions are bit inconsistent, i want to move on. >> let me respond to that that's an important point i don't think the government should regulate the speech of the tech companies, we need more free speech, not less, the problem with the tech companies they center on the basis of political viewpoints, that's why i've come, i think we ought to break them up because the real issue is there monopoly power and we ought to withdraw section 230 immunity if they engage in behavioral advertising or if they center on the basis of political viewpoints. i am against more government regulation of the company, i don't think that that works at the end of the day, i think what happened somewhere the government regulates these companies and tries to fine-tune their business model, tries to fine-tune their speech regulation, the more the regulators get captured by the industry, there's a big difference betwee

sound crazy, well in 2012 the ftc conducted a major study that showed that one of every five americans had at least one error on one of their credit reports. in their follow up study in 2015 70% of consumers believe their information is still inaccurate. well tonight on this larry king special report is your credit in crisis? one of the country's greatest credit experts is gonna reveal the inside credit secrets you need on credit reporting,y recot credit scoring and identity theft. formally at fico and equifax he's the only recognized credit expert who actually comes from the credit industry. welcome john. - larry thanks for having me. i'm very excited to be here. - john for those of us who live at beverly hills, what credit crisis? - well larry look even though things may be great for you one out of three americans have low credit scores, one out of three. so let's say i take you with your incredible credit score and one of the tens of millions of people with a low credit score into a car dealership. you will be in and out with your brand new car in record time but how many of your vi

there's plenty of competition in the streaming wars, so i think the doj for ftc will ask if it meaningfullynates choices for customers, and it is really difficult to make the argument that it does. emily: this is on the back of the washington attorney general filing the first antitrust suit against amazon in the area of third-party sellers, where amazon has argued it does not have a monopoly even in e-commerce. brad: right. if you look at overall market share in retail, that may be true, but there is the aspect of its conduct and amazon forcing sellers to give them the lowest price. because amazon has gotten so big, the argument starts to smell a little funny. if it's the kind of thing that does not pose an existential threat to the company, they could simply change their policy. emily: in your book, you talk about amazon studios and how it got off to a rocky start, and it's not come -- it's not easy to catch up in the streaming race where you are facing companies spending tens of billions of dollars. brat: -- brad: it is where the market is going. at&t combining the warner media assets wit

and ftc are figuring out how to treat these moves.ailable but the caveat is they always look to the irs and treasury department to seize and close some of those loopholes so there may not be that can for folks to do this. >> so you can take the loss on one asset and offset it against a gain on the other asset even though the assets are a completely different type. >> correct you can do it with bitcoin if you think it's going higher bosses it's not subject to a 30-day wait. >> thanks, dom >> thanks for watching "power lunch," everybody. "closing bell" starts right now. >> thank you, kelly. welcome to "closing bell." i'm sara eisen here at the new york stock exchange. a triple digit pop for the dow has evaporated major averages alternating between gains and losses a real seesaw session as we head into the final hour of trade. >> i'm wilfred frost let's look at what is driving the action today a slew of data hitting the tape today. consumer confidence coming in just shy of estimates while march home prices saw their biggest jump in mo

is up 420 points, the nasdaq adding more than 2% take a check on marathon petroleum plunging as the ftcthon's sale to speedway is illegal and raising antitrust concerns they are extremely troubled the companies closed the transaction while they were still investigating the deal we have marathon up actually 0.9 of a percent ty. >> very interesting. we'll see how that eventuates. >>> san francisco companies are sitting on record amounts of empty space and offering perks to lure tenants. cnbc and tech reporter ari levy joins us to discuss. what are you finding >> what's interesting here is what's happened over the last decade, decade and a half, all of these tech companies, salesforce, dropbox, have snatched up huge amounts of real estate in san francisco, these record leases. the dropbox lease for its headquarters was the biggest lease ever at the time obviously what they weren't expecting is a few years down the road there would be a pandemic and their people wouldn't need to come into the office and the sublessees, the tenants they were renting space out to wouldn't need to come into th

and and trust case by a prominent attorney general with more on the way and many from the ftc, it isot good. as for the outcome, i think it is a long legal case and complex issue. i think in principle, it is not as bad as it sounds. in reality, it might be worse, the charge against amazon, i mean. years ago, amazon gave up this idea of price parity, forcing sellers to give the lowest price. it still implements that in a very subtle way, in the search engine. a lot of retailers do this. for third-party sellers, it is kind of an invisible tribunal of offering a price for sale lower somewhere else, and if some merchandise gets in the wrong hands, amazon will disappear them and there is no recourse. i think the fact that it looks bad for amazon, it probably sticks adjustments onto their business model. emily: the other big cases that have been filed against tech companies, google, facebook, how concerned should investors be about this for amazon in particular? >> we will have to see what the facts actually tell us. but most favored nations clauses are really common. medicare has one for

first is fund agencies like ftc and department of justice antitrust.tape and band-aids, and senator and i have a bill to put fees back into the department, increase lawyers to take on the big cases in effective way. secondly, change the standards. our country has always adapted and rejuvenated capitalism. it was mark zuckerberg who said we would rather buy than compete. that says it all. app stores we learned about in bipartisan hearing, google and facebook -- sorry, google and apple literally charging 30% to many companies like spotify, their competitors, for them to have any access to the app store, you have to pay that much to the app store. when customers buy stuff on the apps, so i think it's a major problem and that's why you're seeing so much action in court and why you need to see action in congress. >> and then as promised, your view of what we showed earlier there, republicans booing mitt romney not over policy but his factual findings that donald trump did indeed in his view stoke the insurrection. does the republican party have a truth prob

especially now with the new ftc, how they have already behaved and the language coming out of there,ld need to have a fairly aggressive view of your ability to get this through regulator if you were trying to do a whole company bid here. lisa: can you talk about the price discovery would pay in what form that would take? ed: we think the deal would be structured as a reverse mark trust, which what will happen is effectively at&t will spin off the warner business, and the warner business will make some kind of payment, borrow money, make some kind of payment to at&t. after that, the warner business mergers with discovery, discovery shareholders and up owning one third of the combined company, and at&t shareholders own two thirds of the company. essentially what you end up with is a situation where you have an enlarged discovery coal owned by at&t, discovery shareholders, and at&t are able to extract a cash payment from them. jonathan: ed hammond, our deals reporter. discovery up more than 12% in the premarket. we have craig moffett and michael nathanson. it was just friday -- i said y

you just have to wonder where all this is going and whether we're going to see a bigger suit from the ftc or the doj. >> yeah, the federal government and then also the states are worth watching here too because he was on cnbc earlier today and talked about the possibility of other states signing on to this once they have a chance to kick the tires on this case and see if they like it. you could see a broader coalition of state ags trying to fight this out with amazon. >>> shares of moderna getting a boost after the company released new data on its covid vaccine in teens. meg tirrell has that story for us hey, sgmeg. >> moderna says it's going to apply to regulators for down to age 12 we've seen the vaccine was 96% effective in kids ages 12 to 17 when they reported earnings a couple of weeks ago. now they're saying with a final look and a trial of more than 3,700 kids it came in at 93% to 100% 93% was after one dose they also said no significant safety concerns were identified. dr. fauci was asked about the significance of having this vaccine down to age 12 as it applies to going back to s

there is no chairman or chair person of the ftc, there's no chairperson of the f cc, there is no heade. if you don't have those positions filled, nobody knows what's going on in terms of policy, and the only place where you do have a chair is one of the few places you have a chair is gary gensler, obviously you have janet yellen, and but still, this is not a priority of the biden administration that's come up with a crypto plan so it's going to come. it's unclear what it's going to be, how difficult, how tough it will be, and one other thing i will say, neil. there is a whole thought in the crypto industry as opposed to regulations quashing it. there's that thought out there. the other thought is that if you come in with some broad regulation that doesn't totally out law bitcoin which a lot of people doubt is going to happen, you know, it's probably long term good for the crypto business, because you are sort of legitimizing and normalizing cryptocurrency which janet yellen has deemed in the past, she's been very critical saying that bitcoin is used for drug transactions, so we're goi

the ftc typically doesn't connect on anything seen as partisan or notably controversial.t between democrats and republicans. here you had a unanimous recommendation of congress, saying that this tactic should be banned. it's not exclusively something that the trump campaign has done, it's far more common on the republic side of the aisle. there are democratic who talk about the d you see -- they didn't necessarily fill the project marks with all of what the trump campaign did. nowhere near where the trump campaign was. it's an usual for them to say, police out fix this. we have customers, consumers, voters, who are being defrauded. again, you had someone say they asked them to ban the practice. >> the final question for you is about trump's relationship to the republican party and the campaign. the last thing we've seen in the last three months is he's not on social media, he doesn't give interviews -- nobody cares about his statements. what we're seeing play out in the least of on again lusitania is that the power is still there. how much of it is about fund-raising and

. >>> nft's are a unique digital object, and now the ftc is getting into the action, and honoring thedition. >>> photo shopped fail in florida.o shopped fail in female students say they are being unfairly targeted. and the parents are saying that the actions by the school is leading to bullying. >>> and seven-figure settlements of families and those in officer-involved shootings, because the person who is footing the bill is you. that is next as we approach the bottom of the hour and the top of the news on cnbc. are the color cartridges in your printer ready for another school year? what's cyan mean? it means "cyan-ora" honor roll. the epson ecotank. no more cartridges. it comes with an incredible amount of ink. just fill and chill. ♪ ♪ smooth driving pays off. saving is easy when you're in good hands. allstate. click or call for a quote today. wondering what actually goes into your multivitamin? at new chapter, allstate. its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellnes

really if you come across a scam, even if you don't fall for you can report in a few places with the ftc. the better business bureau in the indiana attorney general's office, jill glavan cbs 4 news. all right. let's talk weather again this saturday night here on kron. 4 news at 8 o'clock. hopefully got a chance to get outside. enjoy the beautiful weather a little warm outside. >> kron 4 meteorologist mabrisa rodriguez who tonight hopefully union blown away from the wind while you're out there today. yeah. extremely breezy. and we're going to notice another round of gusty winds, even continuing for the 2nd half of your weekend already having an impact. outside with those clear skies throughout the bay area coastline. >> and even inland valleys. those northerly winds starting to push that fog bank away from the coast and radar for also tracking the sierra forecast could see a slight chance of showers and pop-up thunderstorms that could produce some small hail and gusty winds and downpours if any do form tonight through the early part of saturday. but overall tracking some pretty dry condit

. >> the ftc says last year nearly half a million people filed reports after losing more than a billion to scammers. agency also says it is working with retailers to post warning signs in their gift card sections. >>> chipotle is raising wages for workers it felt company will pay employees an additional $2 an hour. so by the end of june they will be paid about $15 an hour. the fast food chain says workers can be promoted to a general manager position within three-and-a-half years, a job with an average compensation of $100,000. chipotle plans to hire 20,000 new workers and open 200,000 locations this year. it is hosting a virtual job fair on thursday. >>> now, to disneyland. one of its most popular restaurants is reopening at the end of the month with alcohol. blue bayou will have alcohol on its menu for the first time. you can order beer, wine or a hurricane cocktail with two types of rum. the third place you can get alcohol in the park. one of them is at galaxy's edge but the other is the private members-only club 33. kumasi. >> yes? >> i call club 33 never-never land you know why? >>

it's a result of mergers and acquisitions in the marketplace not being scrutinized properly by the ftche anti-trust division at the department of justice. it's a result of this monopoly that facebook has created and there will be a number of bills, probably five or six bills in may alone, that will address the monopoly that these five platforms have and hopefully create the kind of competition that address these speech issues. eric: congressman ken buck, republican of colorado who is the ranking member on the house judiciary anti-trust committee, knows this issue very well. congressman, thank you. thanks for joining us at "fox news live" today. >> thank you. >> president biden's homeland security secretary says the trump administration left them a broken border system. but one democratic senator says it's the current president who needs to step up. that's next. so you want to make the best burger ever? then make it! that means cooking day and night until... [ ding ] success! that means... best burger ever. intuit quickbooks helps small businesses be more successful with payments, payro

. >>> nft's are a unique digital object, and now the ftc is getting into the action, and honoring the> photo shopped fail in florida. students are feeling unfairly targeted. and the parents are saying that the actions by the school is leading to bullying. >>> and seven-figure settlements of families and those in officer-involved shootings, because the person who is footing the bill is you. that is next as we approach the bottom of the hour and the top of the news on cnbc. electrify y. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that. at t-mobile, we're on our way to hiring 10,000 veterans and military spouses by 2023. and our commitment doesn't stop there. we always offer 50% off family lines on our military and veteran plans. that's right, 50% off on america's most reliable 5g network. ♪♪ strip away what you don't want, like added sugars and preservatives, and what's left is the good stuff. the real fruit juices of naked. strip down to naked. ♪♪ [

went out and we are doing what we wanted to do which is we're selling it so now 7-11 owns that and the ftcshould never have done that, a deal, with marathon taking a good amount of proceeds and buying back stock and on friday, they said, we have reason to believe this transaction is illegal on section 7 of the clayton act and the federal trade commission and raises concerns with hundreds of gasoline and diesel fuel markets across the country and then for its part, marathon say, well, what do you mean? i mean, you know, we worked on this with you for months, we'll continue to do so, but the relative conditions to close the transaction were satisfied and you never got back to us so we closed it. >> a bunch of mistakes were made, but not this one. >> no. >> there is a lot of diversity when you pull up to a gas station, it tends to be a different one each time. i don't understand this. capricious from an agency is not unusual right now. >> with the ftc. >> and they can't agree on it because they don't have five, they have four. >> some of these agencies. >> obviously, guys, we're off the initi

and we can debate whether it is ftc, fcc, the consumer protection bureau, some new entity.es of the road in place. to give facebook credit, facebook daily advertises in a lot of areas and they talk about internet reform and regulation. what has happened is we in the congress have frankly not done our job and then we bemoan the fact, we don't have date a portability set of rules, we don't even have a requirement still in campaign advertising that if the russians place a political ad, that it ought to be expelled, and we've done nothing in terms of content regulation or oversight. i think you have a first amendment right. i have a section 230 bill that says it shouldn't preclude you from personal harassment, violating civil rights laws, increasing the burmese military to kill rohingya in miramar. there ought to be some rule of the road. >> basically, democrats are worried about misinformation, republicans are worried about social media censorship. is there enough overlamb there that you can get these reforms that might work? or is that tension too great for the two sides to w

there's no chair of the ftc.da for the securities and exchange commission. well, guess what? he doesn't even have an enforcement chief who was forced to resign, he doesn't have a head of market regulation, he doesn't have a general counsel. he doesn't have these key positions filled to do much regulating. so even if you think that crypto regulation is coming which everybody's talking about, you know, gary gensler does not have the voices to really do the anything significant. he has staff, but he doesn't have those sort of policy people under him chosen, which is huge in an agency. and you can say that with treasury, with doj and down the line. and that's what's holding up i hear telecom deals, where's net neutrality, liz? that was supposed to -- the biden administration was supposed to bring that back, but they can't because the fcc chair is not in place. it's a lot of unfinished business here more than 100 days in, and it's really gumming up the pipe ifs of business -- pipes of business, particularly business t

bitcoin is regulated by the ftc. the same if you had musk tweeting he was going to take tesla private. it's different cftc is in charge of looking after bitcoin. dogecoin is under a certain regulatory structure but this market is still relatively new i don't think they've figured out how to police that and you have influencers and ceos tweeting about it. it's not just elon musk but people on reddit and twitter they don't disclose how much they really have at stake. some of the ceos might have more skin in the game than we realize. >> and kate, how are investors responding to that timeline that you mentioned up to two months to add dogecoin? i mean, coinbase has to be nimble but they have to do their due diligence. the reason they received the valuation they did at their ipo they're seeing the gold standard exchange these things may take time we can't forget that dogecoin is still a meme coin and created initially as a joke even if it is being taken more seriously? >> a lot could happen in two months we've seen dogeco

factor in this deal, let alone the fact that it still has to pass regulatory muster at a muffled up ftc>> brad stone who has written about amazon has a chapter about bezos' interest in hollywood and apparently there was one meeting, stone writes, where bezos said, look, i know what it takes to make a great show this is the executive who goes to the golden globes whenever they're nominated, do you think they're really going to try to muddle with hollywood? >> yeah. if you read that list it's hilarious. an english class list from high school about what the story is you need a hero, the hero needs to be in trouble those are the elements making a new show, building new i.p., turning beloved i.p. into something fresh for television, these are the challenges that all the content companies are facing yes, i gre there's actually a shocking limited number of distributors that can help you achieve scale, netflix, disney, now maybe amazon prime if they muscle up like this, but amazon has thus far failed to achieve success on the order of netflix after all the money and time spent, after making the

i'm also interested in hearing the ceos private sector corporation and overseas dealers ftc which provides clearing and settlement services to our securities market respectively. under my leadership, this committee is focusing on ensuring accountability to walla street. i decided to convene this series of three hearings on this topic to ensure congress as well informed on t development and functioning of our capitol market and put wall street on notice that wepu watch closely. now i yell back the bounds of my time and i recognize ranking member of the committee of the chairman, mr. mchenry for four minutes. >> thank you madam chair. what i believe from our last hearing, i'd like to talk about what was learned. we've learned everyday americans have a new one in the market, that is positive. the financial technologies here to stay in providing more opportunities for retail investors to participate in our market, that's positive. we've learned that it is powerful, indeed not a cat. we know just as much as we did at the first hearing the continue to hear the same policy solutions from democrat

ready if you come across a scam, even if you don't fall for you can report in a few places with the ftcthe better business bureau in the indiana attorney general's office, jill glavan, cbs 4 news. >> let's talk weather this saturday night at 10 o'clock plenty of things happening in the weather story tonight we're talking about gusty winds, a red flag warning and some warmer temperatures that are on the way see here tonight. >> with all of the details yet and that trifecta could be a recipe for a high fire danger concerns. that's why we have that red flag warning in effect starting at 11 o'clock on sunday for solano county going to continue through tuesday night because of gusty winds 50 miles per hour or less dropping relative humidity as low into the single digits. a little to no moisture expected with little overnight recovery as well. just down to 30 to 60% during the overnight hours. so let's take a look at when tracker for because we had a very breezy start to our weekend and that's going to continue instead of seeing westerly winds, though winds will shift out of the north and eas

the ftc has cast doubt over the future of 7-eleven's future.s, we will be watching honda at the open after profit outlook missed estimates. paul: thanks very much. let's look at what to expect at the new trading week underway here in the asia-pacific. sophie in hong kong. sophie: after a choppy week, ships for asian stocks -- shifts for asian stocks. we are looking for japanese stocks. the nikkei back up above 28,000 points. switching it up, we have seen this value rotation take hold. value has been outperforming growth in asia since november. bloomberg intelligence noting that this could be sustained on rising inflation in support from commodities. in china, energy and materials topping main sectors. some investors are turning wary of inflation hedges like banks with stock valuations for those above long-term averages. shery: let's turn to the fed, the cleveland fed president says the central bank policy is in a good place. she expects the recovery to be volatile. that is after retail sales installed in the u.s. after the latest wave of stimul

i think there are ftc issues that people should go through.are going to follow somebody, guess what? you don't necessarily get to follow that person. they put these little hearts to say you like this are follow that, but they are deceptive. you don't actually get to follow that person. they have these algorithms and they are going to think eventually break through and try to display medicals totally against conservatives. >> gillian: wright, jason, we've got to leave it there but we will bring you back to talk about all the little hearts. we appreciate you taking time for us. >> think you. >> john: good to see you. six weeks to go until the opening ceremonies of the summer olympics in japan in jeopardy and being canceled over covid? a live report on that coming up. >> gillian: and now one year to the day after george floyd's death in minneapolis, a lot of americans are asking whether the push to defund the police has made america less safe from violent crime. we've got our all-star panel leo terrell and police chief james craig coming up. >> s

the ftc is looking around it like you said, there's a spotify case in the eu this all centers around the fees and the power that the app store has over these apps and developers and the way they work even if this trial goes nowhere for epic, it's still not over for apple. >> steve, thank you for joining us keep us posted. >>> after the break, the oracle of omaha giving his take on inflation. >> we're seeing very substantial inflation. it's very interesting. we're raising prices, people are raising prices to us and it's being accepted >> up next, we'll have fed voting member tom barkin, his outlook on inflation, recovery and when the tapering talk should begin you're watching "closing bell" on cnbc. es 52 minutes left of trading who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. .ht as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance a

frustrations of our corn growers with access to mexico's market and yes, yes, i do plan to raise this at the ftcnext week and i will continue to work this issue along with all the other issues that we need to work with mexico and canada to make progress for our farmers, ranchers, workers and just for our regular americans who work so hard for their livelihood. >> thank you. if you could please keep me and my office apprised of what you are able to accomplish there. i just can't express enough how important it is that we move forward with these opportunities that i see for expanding trade. i do want to express my concern about waiving the ip issues surrounding pharmaceutical products and some have already been mentioned and responded accordingly and i just want to express my concern that we don't want to inadvertently empower some other countries t that dont exactly engage in free trade and we do or we prefer they would. so, i think waiving ip protections in support of forced technology transfer will result in sharing commercially sensitive information with china and perhaps others and i just thi

crypto, there's not much of a derivative seen in the united states this is pending clarity from the ftcbecause of that, we don't have derivatives offering in the united states and derivatives are the bulk of where the volume comes from. >> and so i guess that's a point because we always say here with crypto there's a lack of regulation, but there is some regulation you're saying here in the u.s. relative to where you're based in hong kong. what is your outlook, therefore, on regulation of this space going forward both globally and in the u.s.? >> yeah, i sort of break this into three parts when it comes to money laundering concerns, those are serious and touch all industries and those are just regulations that cut across industries they're not crypto specific. those are things that ftx and other exchanges are already complying with the securities regulations are things which are developing but there's some guidance from regulators on. we would appreciate a lot more than there has been but there's been sort of enough to work with i think the biggest open question for us is on futures and

large corporations have two separate accounting one reporting to the ftc and investors in the other reporting to the irs for taxes. it's well-known corporations generally inflate their earnings reported on its first set of books to appear more profitable to investors in particular managing stock options it is also well-known corporations generally underreported earnings in the second. tax gaming to pay less tax. both of these shenanigans are harmful to the economy and creating a level playing field. address these problems the academic analysis of this issue recommends 50% conformity. we currently have 0% grade the real corporate property taxes loopholes would effectively. 25 or send -- while the turning shenanigans and raising funds for public investment for this to be a meaningful step towards fixing our broken cat corporate tax system so it will help level the playing field the tour armful accounting shenanigans all while raising funds. third and most important i cannot emphasize enough our existing income tax is broken urgently need of reform for the ordinary rich like a doctor can pay qui