and then the approach to governing the ftc. commissioner phillips and i with those items at which we have no transparency and are unable to get information and documents from staff and that due process afforded to other stakeholders similarly. and that notion of due processes and is just a tool used in that may explain some of the behaviors we see governing the ftc. and then how it can actually draw back and then that item is valuable. and labor has been poured into it, then a decreased price is best buy s-uppercase-letter. and then reaping the rewards so if you read what marquez said about constitutionalism. is from the capitalist of the workers and then ultimately they will revolt. and then just for those deficiencies. and then with respect to consumers we hold consumers to be the attention of the antitrust enforcement that labor has now been substituted and consumers take a backseat and that is very much in keeping with the approach of critical legal studies with respect to consumerism and the commoditization with the seriou

, _ on from that and according to the ftc, the — on from that and according to the ftc, the slick andor russia to export oil and will put the squeeze on vladimir putin over ukraine. and the way they post on the _ over ukraine. and the way they post on the sanction packages try to hurt russia _ on the sanction packages try to hurt russia and — on the sanction packages try to hurt russia and try to squeeze the russian — russia and try to squeeze the russian economy and try to make a difference — russian economy and try to make a difference. but i think what comes out of— difference. but i think what comes out of the — difference. but i think what comes out of the ees summit is there still be questions on whether or not they would _ be questions on whether or not they would take — be questions on whether or not they would take the steps and many think they need _ would take the steps and many think they need to take on gas because germany— they need to take on gas because germany and other european countries is so reliant _ germany and other european countries is so reliant on gas and yo

area and at the ftc.ith that, i think this has been terrific. this is the type of dialogue i had hoped we would have and felt confident we would have. so, please join me on a sinking our panel. [applause] >> c-span's washington journal. every day we take your calls live on air on the news of the day and discuss policy issues that impact you. it's saturday morning, the competitive enterprise institute discusses that the department of homeland security efforts to combat the u.s., focusing on russia and the u.s./mexico border. also steve phillips host of democracy on a color talks about his podcast. watch washington journal live at 7:00 eastern saturday morning on c-span or c-span now, a free mobile app. join the discussion with phone calls, facebook comment, texts, and tweets. sunday on q&a, a discussion about the life and career of first lady jill biden with associated press white house reporter, the co-author of "jill: a biography of the first lady got" she talks about dr. biden's role on a joe biden's cl

so unfairness, as you say, does derive from the ftc act. it's identical language.and it has multiple prongs. the first is their substantial injury, the second, is it reasonable -- >> to the specific question. i was kind of curious about, i understand what you are leading to in terms of the practices, but what specific industry feedback process did you initiate? prior to updating the examination practices [inaudible] industries, [inaudible] public comment interactions that you have? >> well, we hear from all sorts of industries. and let me share with you, senator tillis, across the spectrum, our regulated institutions really don't believe that discrimination should clay any role. and many acknowledge that it already violates multiple laws, not just federal consumer financial laws, not just civil rights laws. so for me, this is already a clear legal prohibition. and i have not heard any, any suggestion that discrimination based on someone's race or the -like does not violate the unfairness prohibition. it is clearly spelled out. there are three prongs. and that type

merger law, musk is required to notify the ftc and doj and wait at least 30 days before closing a dealow an investigation. we are reaching out to the ftc and twitter to comment we'll let you know when we hear more those twitter shares, still far below the $54.20 that musk is buying the company for melissa? >> julia, thank you. julia boorstin. >>> karen, are you even more skeptical that a deal gets done given this news? >> i'm not i think for sure he violated the rules. no question to me. it was ridiculous. he didn't file for weeks after two weeks after he went over 5%. i think we have seen him make a mockery of the s.e.c. multiple times. this is just another one i they think will penalize him money, it could take time. at some point as an arb, it is going to be a buy. not yet, but another couple of days we could get there. >> all right, we got our buzz kill for you on coin base. we brought you the earnings on the show last night. the stock continuing to get slammed in today's session the ceo reassuring customers that crypto exchange has no risk of bankruptcy. there was a line in there,

so the ftc, they're finding twitter 150 million dollars. walk us through some of those charges and why this is happening now. >> you know, it's really interesting what twitter is accused of having done is collected. a lot of our phone numbers may remember if you have a twitter account oftentimes to try to encourage you to use something called 2 factor authentication. that's where they send you an extra password after you log in. that kind of proves you are you? well, unfortunately, it appears as though twitter used that phone number, which tentatively, i handed over to them along with a lot of other people for privacy reasons. they used it for ad targeting, which is very much and not part of the agreement that we had agreed to. and so as a result, the ftc fine twitter, this is more than a slap on the wrist. when you think of twitter itself because this is not a company that has made a lot of money on like facebook, right? they make billions of dollars. twitter had struggled to be profitable throughout a lot of its life. so this this imposed

but the safe connection act requires the ftc to allow survivors facing financial hardships to enrollse programs as quickly as possible, whether or not they otherwise meet the qualification for the program so they can receive a discount for a short amount of time while they are getting back -- while they are getting back on your fee. why is it important to ensure that these abuse survivors are able to maintain communications services after they are allowed to separate from the shared account with their abuser? >> happy to reiterate on this point because it is so important, and it shows that people remaining deeply precarious positions long after they leave a relationship in one form of an -- or another. being connected through the phone is crucial in regaining their independence and in guarding against future abuse. again, this was always true, but it feels important to stress that these last two years are reliant on technology increasingly, in the way that many of our interactions have been filtered through technology more and more have increased this risk of digital abuse, but it me

before this created cfpb and same authority ftc had to pursue unfair or deceptive acts or practices. what's more, if the ftc already has link authority to bring his commission and desperate impact for a center, congress would have no need in the disabilities act or other targeted laws to address dissemination but they did enact those measures because you asked not already addressing these arms. a well understood policy far-reaching consequences. if congress intended to give the power to cfpb, it would have done so excessively and equally concerning is the way they made this unprecedented change. when an agency imposes new substantive requirements on related entities, the procedure act requires it to conduct transparent notice making public account into account. cfpb updated manual to instruct examiners to apply this policy when conducting supervision's. there's no regulatory regarding implementation of the new rule. the world is unclear how financial institutions implement this impact and what positions they have to run through in regression analysis. the cost of regulatory uncertain

the ftc needs the power to investigate and crackdown when there is true evidence of price gouging. came to congress to stand up for the people of my district and i will continue to look for opportunities to go to bat for them and get some relief from economic pressures we are all facing right now. host: from the house for debate yesterday over gas prices. you are asking you to tell decision-makers in washington were top economic concern as the debate at the economy -- as they debate the economy nearly every day out here. it is your turn to let them know your concern. amy in gray, georgia. you are making under 30,000. that is how we have divided the lines. under 30,000, (202) 748-8000. between 30000 and $60,000, (202) 748-8001. over $60,000, (202) 748-8002. amy, let's hear from you. caller: good morning. i am going to be fine. economic ups and downs happen throughout life. but my main concern is the fact that one of our two political parties, the republicans, have turned into an authoritarian party and by economic health is not going to matter if i did not have any rights. media nee

in the writings of the ftc chair , at least how i interpreted some of those in that speech, those arguments seem to be doesn't. it is -- seem to be present. it is early days yet. it is the deeds that matter, not the words. i think we all want to be able to agree, wherever we are on the political spectrum, that if you're making expected for consumers by reducing prices, that is presumptively good. and if you are raising prices, that is presumptively bad. if the government is going to start interfering with efforts to reduce prices, it had better be awfully careful. david: fascinating comment. this is a rare discussion about economics that i wish could go on for another hour. i want to thank larry summers for joining us to discuss these issues. thanks for being with us, i hope you come back. mr. summers: very good to be with you. david: please join us for other washington post live programming. go to washington post -- washingtonpost.com to see what is coming. thank you again once again to there is summers. >> this afternoon, the secretary of the army talks about u.s. defense strategy includi

you have to have conviction on what lina khan will do the deal is with the ftc that is tough.f you are buying here, you have to really buy it and be willing to hold it through a potential litigation and when you are in front of a judge, it can never really be better than 60/40 odds that's the rule of thumb. >> afaron, that is a tough stance would you tell companies don't even bother? no matter what happens, it will take too long and change the focus of the companies if you know you have to litigate every deal that goes through >> i don't think you have to litigate i think as an investor, you have to be comfortable owning through litigation we are seeing that right now with united acquisitions for companies, we see them incorporate higher likelihood of litigation it is contemplated you see that in the negotiations in the merger contracts. >> you think the discounts stocks are trading at right now are fair although it is a steep discount, don't get sucked in? don't buy on this? >> the buying and selling, that's up to the investors i can say where markets are pricing risk and the

privacy serve as anro ftc commissioner. after the passage of dodd-frank rohit chopra joins the cfpb as assistant director and was appointed cfpb student loan ombudsman. he sucks will serve as special advisor to the department of education. director, please proceed. >> chairman brown, ranking member toomey, and members of the committee thank you for inviting me to appear today. american households and businesses continue to recover from the economic devastation caused by the pandemic. jobless claims are hitting record lows and consumer spending accelerated. at thes same time, ongoing suppy chain disruptions, to political strife, and inflation pose real challenges. the cfpb is working hard to fulfill the mandate congress entrustedd the agency with, to ensure markets are fair, transparent and competitive. cy l entities are compliance with federal consumer financial laws handling heavy volume of complaints issuing guidance and rules to implement federal law and bring enforcement actions where appropriate. in my written testimon

doj, ftc is called to take a look at it.ir legal authorities but i would be surprised if they have any legitimate authority to block this transaction. reporter: amid all the opposition now you can add the russians. the kremlin threatening to hold the billionaire accountable for providing starlink satellites to military. musk tweeting, if i die under mysterious circumstance, nice knowing you. never a dowel moment especially on mother's day, elon musk. david: thank you, kelly, very much. sewers san, that is really the message that got everybody stirring. if i die under mysterious circumstances it's been nice knowing you, suggesting because of the work of starlink until a you looing communication from ukraine to continue to get out some putin hit squad might be out to get hymn? reporter: that's right. so, you know, looks like elon musk is picking sides when it comes to this ukraine russia debate and this battle and invasion of course. it was mother's day yesterday and musk actually tweeted in reaction to the elon musk tweet say

the ftc is stepping up efforts to protect children's online privacy.it is cracking down on so-called edtech companies that may collect data or illegally surveilled kids. online learning boomed during the pandemic and students did much of their school work remotely. you may remember the ftc guidelines say kids cannot be denied access to classes because they opt out of data collection. this will be interesting to watch. dion: thank you. dan: coming up, combating hate crimes, a new effort launched following the attack on a buffalo supermarket, the promise from attorney general merrick garland. dion: president biden makes his first trip to asia since taking office, the crises in the region he ♪music playing♪ ♪♪ ♪♪ ♪♪ ♪♪ nothing brings the pack together like a trip to great wolf lodge. now open in northern california. ♪ ♪ thousands of women with metastatic breast cancer... are living in the moment and taking ibrance. ibrance with an aromatase inhibitor is for postmenopausal women or for men with hr+/her2- metastatic breast cancer as the first hormonal based

gop representative jim jordan says ftc has to preserve all records on this.. >> jordan is all over this as he should be. she will not block on the merits. the fcc, look, the federal trade commission is essentially antitrust this woman is very far left radical progressive. she doesn't understand the idea of consumer benefits but she is not going to carry the day. the fcc will approve this. he will take it private. remember, so that kind of takes all these government agencies out of play. all elon has to do is raise the money and he is going to do that as your report suggests. i was particularly impressed that prince alwaleed will go with elon, to finance the takeover. he was lukewarm at the beginning. you have stalwarts with people like larry ellison coming in. paul singer will help him out. no question, elon will win this. these guys on the left, this is only about one thing, they want to control speech. okay? they want to control the narrative. that's all they're interested in. elizabeth: yes. they do. but there's this, i want you to listen to this because w

the breach occurred from 2014 to 2019 the ftc chair said it boosted twitter's primary source of revenue. jif expands a peanut butter recall a salmonella outbreak traced to a kentucky facility that shipped the products nationwide. there are at least 16 infections cross 12 states. two of the victims required hospitalization. >>> and justin timberlake can't stop the feeling the pop artist sold his entire music cat willing to to the black stone blacked hypnosis songs. the deal reportedly valued at $100 million it follows a wave of big stars who cashed in on their music, bruce springsteen, neil young, neil diamond, and shakira among them. >>> on wall street, the dow up 517. s&p up 79. the nasdaq up 306. the markets on pace to break a long streak of weekly declines >>> i'm shepard smith on cnbc. it's at the bottom of the hour time for the top of the news >>> the texas school shooter was able to buy two guns and ammo just days apart. no warning bells rang. we talked to the man who wrote the early red flag laws. >>> a teacher inside the school describes what she calls the longest 35 minutes of

we'll see about the rest of it, you know, with the ftc, there's a fundamental reason why it shouldn't. we'll see. i think it will be okay. >> stacy, did you cut your numbers on nvidia. what do you make of your turnaround both on nvidia, and by extension on amd? >> we cut our numbers earlier in the week lots of incoming questions, long term on data center and lots of short-term questions on gaming so we covered or gaming numbers. those barely changed because of that we did actually get a cutting game now, they're blaming china covid lockdowns in russia, but there was a fairly sizable gaming cut. so investors looking for a reset got that the data center business was really strong. the data center came in great and next quarter expectations was well above the street. so looking for a strong data center story to own, i think that's why the stock is responding, though i think the street numbers are coming down i want them to come down >> stacy, there is a 40-day go shop in the deal could you imagine anybody else stepping in there? >> the usual names, you mention the cisco, but i'm not spec

the ftc is part of a much bigger five million dollar agreement in 2019. marcus and laura, you click these things all the time saying do not track me, and yet i am always skeptical. >> i am with you. >> thanks, bertha. >>> with parents already nervous here in the bay area, a school district is revealing about the recent threats of gun violence. we will tell you who police say is now in custody. >>> how often do you get a new phone? why swapping out your device might be costing you battery power, and what you can do to fix it. we will be right back. >>> a great thursday morning to you. we take a light look outside. this is the san mateo bridge. let's check in with mike, you have a look at that morning commute? >> it is cooler right now, which i think is great. kerry has the forecast coming up . let's take a look over here in tennessee, where we have the issue. north 87, the on ramp expressway, there is a crash working. we need a few more minutes until the tow truck gets there. no major injuries. 87 is moving smoothly. the on-ramp, all the way to downtown, b

the ftc said it would use the full force of the law against people or businesses that take advantage of the shortage by price gouging parents. now, therefore, manufacturers, abbott mead johnson, nestle, a parent go to control about 90% of us baby formula market. and that supply chain is easily disrupt with one plant goes offline, will form will pay 19 million dollars to a handful of states, including california to resolve allegations it falsely advertised fuel economy and payload capacity for some hybrids of pickup trucks. the multistate settlement covers 2013 14 c max hybrids and the 2011 2014 super duty pickup trucks and a study finds nearly one in 5 amazon delivery driver suffered an injury last year. the strategic organizing center says amazon's delivery operations had escalating injury incidents driving by what they say were punishing quotas and pressure to get the packages to their destinations as quickly as possible. live from the nasdaq market site. i'm jane king. back to you during. all right. thanks alleging. >> well, as gas prices reached another record high this week, the

so they're using their powers of obstruction to try to prevent the ftc from having a full contingentthey can help protect consumers. so we're going to be working to make sure we get that nomination in place. those are the kind of things that the president is working to do. he of course did release oil from strategic petroleum reserves, a million barrels a dame they are using these tools, but if we had any cooperation from republicans -- and i'm not under any illusion we will -- we would be able to better address some of these things. but when you have blanket political opposition for purely purposes of trying to deny the country an opportunity to get out of this situation, that's what november's all about. that's why it's important we tell the voters what's happening. >> thank you so much for joining with us tonight. >> great to be with a fellow marylander. >> thank you. >>> coming up in just 60 seconds, maga senator josh hawley, seen here auditioning for an axe body spray ad is attacking disney for opposing the don't say gay law. we see you, and we have a fact check for you. >>> but

area and at the ftc.h that, i think this has been terrific. this is the type of dialogue i had hoped we would have and felt confident we would have. so, please join me on a sinking our panel. [applause] t c-span.org. announcer: next, major credit card executives testified on excessive fees for card transactions. that is that card companies announce a fee hike to insert or tap credit and edit cards. this hearing runs two hours.

the ftc wants to know about any deceptive, fraudulent or unfair business practices aimed as taking advantage of families. >>> hyundai is recalling 239,000 cars because part of the seat belt can explode. the issue is with the pretensioner which retracts during a collision to keep the passenger in the seat. three injuries have been reported, two in the u.s. and one in singapore. the recall includes some hyundai ac is ens and elantras. >>> coca-cola is cutting its honest tea product at the end of the year. it says in a statement it's rationalizing its line-up of drinks and prioritizing fewer bigger brands. coke says gold peak and peace tea will anchor its ready-to-drink tea line-up. the company adds its popular honest kids line will still be available. and that is your "cbs money watch" report. for more, head to cbsmoneywatch.com. at the cbs broadcast center, i'm matt piper. >>> straight ahead, i'll and now most admired alum! get up there. this is so embarrassing. there's no way it's me. you know her.... you love her.... ruh what are you doing here? it's anna gomez! who? our first gigillionaire

let us have the market manipulation tools to stop market manipulation tools we t need for the ftc that is with these two bills would do. >> a couple members of both parties have expressed a concern there's another incremental phase reopening here at the campus may 30. members of both parties say they would like it to happen whiter and faster they are seeing no to school groups, can you use your office to make it happen faster >> i am not the house capitol physician i can't. if i ruled the world we would not have covid we certainly would have treated differently two years ago when it reared its ugly head. but this is all based on the capitol physician what he enables us to do working with the sgt and arms. we all put our people to come this is the people's house the joy of it all is to see school groups and others come. there is a lineup they try to move people in as quickly asbl possible but as safely as possible. so this is not up to me it is up to the capitol physician as well as the sgt at arms. >> good morning good morning. it seems is a modern below back ahead the wood districts y

last year, the ftc breached a settlement with a health app that shared sensitive health data with mill up about millions of users without those users consent but is still not enough to prevent the leak of privacy information. congress is in a discussion on how to protect personal data. further hate crime investigation is underway at stanford after a noose was found hanging on campus. >> last night the university security received a report about a noose hanging from a tree outside bran or hall that an undergraduate residents. it has been taken down by campus police and then collected as evidence. this is the 3rd time in 3 years. university officials are having to investigate an apparent noose found hanging on campus. 2 people are in the hospital with life-threatening injuries after a fire destroyed a home in alameda happened about 3 o'clock this morning on the 700 block of buena vista avenue. that location is near the grocery outlet. >> it took crews about 30 minutes to put out the fire. a 3rd person was also taken to the hospital with serious injuries. the cause of the fire still under

where was the ftc -- fcc when a lot of people did not have the freedom to tweet, and now that freedom is changing, the people that enjoyed the chance have a dialogue -- can you explain that? thank you. >> and is a good question, trust me. i think a lot of people right now, there have been requests for instances where a step in and block the purchase of twitter, there are calls to get the ftc to step in as well. for my perspective, what we are seeing is not request for neutral application of competition or antitrust law, these site the telegraph activated 62 invoke some part of this and block the transaction. a lot of these groups are happy with the type of political censorship in case right now and want to try to avoid a pro speech movement. i think there is room for people to take action. a republican leader has laid out a game plan, kevin mccarthy has put together a task force and people are very committed to this idea of protecting the digital town square. twitter, facebook, they have first amendment rights and we have to approach this, their first amendment rights and the free-spe

a lot of hot topics that are going on in the competition area and over at the ftc. so with that, i just think this is been terrific. this is a type of dialogue i had hoped we would have and felt confident that we would have. so please join me in thanking our panel.pa [applause] >> thank you. [inaudible conversations] [inaudible conversations] >> today on c-span, treasury secretary janet yellen testifies in front of the senate banking committee. our live coverage begins at 10 a.m. eastern. in the afternoon the house is back to work on a series of bills including legislation to reinforce sanctions against russia. on c-span2 the senate considers executive nominations for the u.s. maritime administration and the office of science at the energy department. senators will also try to advance the nomination of lisa cook to be a member of the federal reserve board after her nomination was blocked two weeks ago when to make democratic senators were absent due to covid-19. at 9:30 a.m. eastern on c-span3, a look at global security threats with the director of national intellig

let us have the market manipulation tools to to stop market manipulation tools we need for the ftc. that's what these two bills will do. reporter: a couple members of both parties expressed a concern. you have another incremental, phased reopening here at the campus may 30. it got members of both parties saying they would like to have it happen wider and faster because they're saying no to school groups. will you use your office to make it happen faster? speaker pelosi: since i am not the capitol physician, no, i can't. if i ruled the world, we wouldn't have covid. and we certainly would have treated it differently two years ago when it reared its ugly , head. but this is all based on the capitol physician and what he enables us to do, working with the sergeant at arms. but we all want our kids, people to come. this is the people's house. the joy of it all is to see school groups and others come. and there's a lineup. in other words, they are trying to move people in as quickly as possible but as safely as , possible. so this is not up to me. , it's up to the capitol physician as we

. >> last year the ftc reached a with a fellow health after finding that the period tracking app sharedsitive health data of millions of users without their consent. congress is at a standstill over how to protect data privacy. further. >> maybe the month of may, but drivers still needed to repair for snowy conditions in the sierra. while this is not the biggest snow storm this year has seen the spring. it did cause some damage on sunday. the california highway patrol had to help several drivers who spun out and semis that were jackknifed along. i-80. the snow also caught some drivers off guard, forcing them to slow down and chain up. what a mess. what a mess. taking a live look right now at the roads up to tahoe tonight. in case you have plans. >> this is interstate 80 at kingsville. >> her pulled over on the side of the road and those roads slick. our chief meteorologist lawrence karnow is joining us here now with a look at a snowstorm. yeah. how about that? even the chance we can get a couple isolated snow showers across our mountain peaks that kind of gives you an idea of how cold t

>> the ftc has investigated and done some good things. there were problems the way visa and mastercard controlled what was happening with the payment card terminals that accepted chip cards, they have had other open investigations about actions by visa and mastercard to try to block the competition on debit cards. so there are some things they can do, but they are limited because they don't have jurisdiction over the banking industry. the department of justice had taken some action as well. the antitrust division has perhaps brought more cases in the payments area than any other area over time. but as you know, litigation is hard, it takes a very long time and it is best at finding compensation for past problems. congress is best at designing what is the way for the future to look in terms of having a competitive market. >> thanks, senator blumenthal. senator lee. >> thank you, mr. chairman. anytime you look at a competition issue i'm interested in how it affects consumers. representing my case as i do, i'm concerned about how things affe

the ftc reportedly viewing the $44 billion deal to decide next month whether to do an in depth probe,oes it could delay closing by months. while the review is routine it comes as anti-trust law defender open markets institute, a former employer of the ftc chair might add criticizes the bid claiming "the deal poses a number of immediate and direct threats to american democracy and free speech." now anti-trust experts pushing back on that arguing the law instead focuses on competition and this isn't a scenario of one pharmaceutical company taking over another, so musk's portfolio of tesla, spacex and star link does not pose a threat >> it's not a competitor competing platform, competing with twitter, he's not a supplier to twitter. reporter: but this last year has seen traditionally un controversial mergers subject to ftc investigation. the unprecedented scrutiny driven by new chair's quest to redefine the meaning of competition. historically anti-trust reviews stuck to competitive harm but they are keen on broadening that scope factoring in social dynamics like equity and digital age c

that collectors contact black household at twice the rate of white households, according to the ftc. in some cases, health care providers and hospitals saw -- lawsuits against consumers. they may use these lawsuits to seek leans against home, garnish wages and tax refund, bank accounts and even seek civil arrest warrants when the deter failed to appeal for proceedings. between 2019 in 2015 hospitals in maryland -- often in wage garnishment often from their own employees. according to nurses united. john hopkins alone saw $4 million in wage garnishment lost between 2009 in 2018. it has a service area that is 45% black. the university of virginia hospital system has a history of relying on property leans to protect unpaid medical bills. as -- health news reported in 2020. as a result of that exposÉ, the system canceled decades of leans placed on low income patients. vcu medical center in richmond, a majority black city, filed the most lawsuits of any hospital between 2018 in 2020, according to researchers from john hopkins. worst yet, the aclu documented cases of arrest due to medical

>> the ftc has investigated and done some good things. for example, when there were problems -- what was happening with the payment card terminals and accepted chip cards. they've had hoped in investigations that actually give you that mastercard to try and block the competition of debris cards. so, there are some things that can, do but they are limited because they don't have jurisdiction over the banking industry. the department of justice and taken some action as well, in fact, their antitrust vision has perhaps brought more cases in the payments area than any other area over two time. but, as you, know litigation is hard, it takes a very long time. and it's really best at finding compensation for pass problems. really, congress is best at designing what is the way for the future to look, in terms of having a competitive market. thank you, mr. chairman. anytime you look at a competition issue i'm interested in how it affects consumers. representing my case as i do, i'm concerned about how things affect utah. utah once -- people in uta

the ftc approved a futures -- different parts of the world are different. are so many countries, it is hard to go to that link. france is definitely up there, and dubai. many countries, we see more countries coming to us, wanting our help to help them establish the industry in the country. which didn't really happen a year or two ago. we have seen that shift. tom: that's an interesting trend, countries are now coming to you, governments knocking on your door. we are talking a lot about central banks, the fed raising interest rates by 50 basis points. today, the monetary conditions of how much of a headwind you expect that to provide or produce for the crypto space? zhao: i think overall, with this heavy easing, i think by some reports, somewhere between 62% to 80% of u.s. dollars in circulation were printed in the last two years. that is way more than 8% inflation. if not, many people are realizing that cryptocurrencies a bitcoin and other cryptocurrencies, with limited supply can be a way of holding assets and protecting against inflation. there are many o

the ftc is using -- urging consumers to beware of online scammers charging sky high prices for formulas. good morning, erielle. >> good morning to you, robin. this is so unfortunate. this is a particularly vulnerable time for so many new parents and many are turning to social media as we've reported and other sites desperate to find formula for their babies. now several agencies are warning scammers are capitalizing on this crisis tricking some parents into paying for formula that just never shows. this morning, the dire shortage of baby formula forcing many moms to scour social media for supply. but now an urgent warning from the better business bureau to look out for thieves taking advantage. >> they are on a social media platform and a chat box pops up. someone is claiming to sell that product and they're asking people to pay using a peer-to-peer payment system. once that money is paid out, they never end up receiving that product. >> reporter: this as seven states raise the alarm about baby formula scams. according to new reporting from abc news, in texas, first-time mom jesse says

and china have been at odds due to the policy due to decades and the ftc is cracking down on companies do not comply. a key policy to speak on china after covid-19, blinken was fully vaccinated and boosted is experiencing mild systems and will work from home. lincoln has not been in close contact with president biden for several days -- he has not been in close contact with president biden for several days. severe heat waves damaged crocks, it hurt the harvest -- severe heat ways damaged crops. it hurt the harvest. modi will make the final decision. global news 24 hours a day, on-air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. haidi: commodities markets are digesting the hike ahead of the opec meeting and this is bloomberg. ♪ haidi: we saw gold holding onto gains after it bounced back from an 11 week low. we are giving a boost to bullion. we also had copper gaining .7%, this is as we had a weak dollar against major currencies. despite the fact we continue to have some demand concerns given what is happening with chinese lockdown

musk is required to notify the ftc of the action at least 30 days before closing to allow an investigationpotential antitrust concerns. opec and its allies are sticking with their standard monthly increase of supply in the face of international markets. saudi arabia and its partners have been called on to fill the gap left by the eu bam on russian oil. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: thank you so much. i cannot rate -- wait to have a football chat with steven major. coming up, growth is expected to move sharply and we will get steven major's piece on that as well. this is bloomberg. ♪ tom: welcome back to the open. the bank of england issued its brute issue on top of the key rates. governor andrew bailey is warning rates to double-digit inflation to a long period of recession. >> we think a lot of the work in terms of the cure is going to be done by the fact that we are historically large shock to real incomes on the country coming from outside of the

the ftc is reviewing the $44 billion takeover off the company. the agency will decide the next month if it will launch an in-depth probe of the deal to delay closing deal by months. >>> peloton is apparently seeking a minority investment to strengthen the business amid struggles. the fitness company is courting investors to buy between 15% to 20% of the company the move follows previous moves it was looking for a sale. >>> and a senate committee passed a bill setting the stages for lawsuits against owepec. it would revoke the sovereign unity of the companies from lawsuits the biden administration says it has concerns about the potential implications and unintended consequences of the legislation. the bill must pass the full senate and house and then be signed by president biden to become law. >>> coming up here on "worldwide exchange." more of the morning big money movers, including the worrying signals sending shares of zillow lower. >>> check out the biggest s&p winners and losers stay tuned "worldwide exchange" is back in just a moment. >>> go

comment on the deal is moving forward with terms originally negotiated with musk and filing just as the ftc and doj announce they are suing twitter over misrepresenting the extent to which the company maintained and protected the security and privacy of the nonpublic contact information alleging the company failed to disclose it used it to target ads. >> there's part of the filing to indicate musk talking about existing shareholders like jack dorsey to roll the shares into the parent company to retain their ownership. is that new? is that official or now that it's in the filing. >> i'm not sure. that is officially a new thing or heard about as an idea before that is a way to maintain a relationship with dorsey and the investment in the company and to count him among the investors. >> thank you i go to karen first on this. trading nowhere near the offer price. >> it is good in that the last we heard from elon the deal was on hold. >> right. >> right this is better than hold the more quix to raise the good idea tesla's down quite a bit since he entered into the agreement. the company has to s

the ftc is investigating it. but it wasn't about reversing the band for trump.said manning doesn't work and cited trump setting up true social, his own platform where it is a very right leading -- right-leaning platform and use that as the basis for his argument that a that -- an outright ban does not work. emily: musk confirming what he has hinted at before, saying twitter should be cautious about permanent bands. that said, he said he would be ok censoring some content and potentially banning some individuals. aside from the case of president trump, what would be different when it comes to content moderation under elon musk? sarah: it's unclear because he says he is a free speech absolutist but when it comes down to it, when you drill into the details, he's open with some content moderation and says he wants to get rid of the spam bots and bit going spam happening on twitter right now. there's some kinds of content he is ok with getting rid of and he was speaking with the european union commissioner yesterday about this very problem and we expected there to be