the ftc is now challenging this, and we have learned the ftc filed this lawsuit because lina khan wanteddo it, even though her staff disagreed. what do you make of this, that it seems the ftc, or at least lina khan, is determined to not let meta by acquisition like it did with instagram and whatsapp? david: really good question, but before i want to make it clear, i do not intend to echo industry talking points about this big bill. i do think the industry has made enormous errors, and there is huge resentment against tech, big corporate generally, as the other emily said. i just think it is very risky to go after these companies wholesale the way they doing it. but back to meta and within. at the moment i think that meta has made so many mistakes and gotten so many people angry that there is going to be support for almost any pushback against that particular company, and to some extent, i think even on the other bill, one of the reasons so many legislators are so willing to go after the entire group of countries -- companies is because meta/facebook's crimes are so vividly obvious it see

emily: amazon is fighting back against the ftc.ng monday, amazon claims ftc staff have made unduly burdensome demands on the e kerr miss giant as it keeps investigating its subscription services. with more, emily birnbaum. amazon also claiming the ftc is harassing jeff bezos. how so? >> in this filing made public yesterday, amazon claims that the ftc has been overreaching in their ongoing consumer protection investigation into amazon subscription services including prime, audible, kindle and other services. the ftc issued what is called civil investigative demands, which are essentially subpoenas, to 20 former and current employees. they serve them at their houses, and that includes jeff bezos and andy jassy. they say it was unnecessary to give them to jassy and bezos. these are about a lot of different parts of the business. these are high-level executives. amazon says there is nothing that jassy and bezos can give you that you can't get from documents and lower level executives. emily: is this unusual? >> it is extremely unusual.

that issue is with the ftc.nk folks who take that approach that he was talking through there, think the ftc has not done enough on the antitrust side to make sure that these giant tech companies are not hoover ring up everyone out there to camp down or sure that they have what they said in this lawsuit is a monopoly on a potential future market. emily: thank you for your reporting on this. now, moving onto the world of cybersecurity. shares of palo alto networks sword as much as 12% -- soared as much as 12%. they said they expected sales to increase by 20%. will the cybersecurity landscape maintain its growth? great to have you with us as always, nikesh arora. very positive earning reports, good forecast. we have heard a lot of bad news from other tech companies, how so? >> i don't know. maybe i don't know something. we are seeing noise. we are not seeing a signal out there telling us that there is impending doom. we see inflation, we see macroeconomic trends. people thought the flow is going to follow way from

emily: remind us why the ftc is investigating amazon?ftc has been investigating amazon for several years. it began under the trump administration when they were given the power to investigate amazon over antitrust concerns. it has gotten broader since then. this particular investigation is a consumer protection investigation into whether amazon makes it too difficult for consumers to opt out of amazon prime. this is only one part of a sweeping investigation that looks at all parts of amazon's business including cloud and streaming. emily: when can we expect this to draw to some sort of conclusion? >> the filing says the ftc will make a decision whether to sue amazon over the subscription issued by the fall. this is probably going to prolong it. it is probably going to take more time than that, a couple of months. what is clear from the filing is ftc staff are under a lot of pressure by the commissioners, including lena con, to get something done by the end of the year. emily: we will continue to follow your reporting on this. that does i

thank you for stopping by. >> the ftc is breaking with tradition.y learn about lawsuits the hard way, without any notice. this is bloomberg. ♪ >> >> welcome back to bloomberg technology. the ftc is breaking with tradition and it has its sights set on big tech. they are selling their countries over there virtual-reality acquisition within a tweet. they typically give companies a chance to meet with commissioners and argue their case before filing a lawsuit. here to explain what happened is alex. what happened indeed. >> yes. they found out from this tweet that the ftc was suing them in an unusual case that i'm sure we can talk about in a second. what happens in these situations is if the deal is large enough, they have to file documents to the fcc which are sources tell us they did. they filed hundreds of documents and data points and then if it is imminent, though usually definitions before the -- depositions before that happens. the company was alerted to this via tweet. i will say they initially did not comment on the story. they got back to us to

the ftc gets the report of that audit. sure they reviewed that in the latest settlement it is only at the end of may. >> right. >> as part of that settlement, included some of the points raised by the whistle-blower, that they had to be more robust in looking at the audit, but they also had to limit the number of people who got to see personal data. so it showed me they actually saw that so the question is, with this whistle-blower complaint, is there anything new that the ftc hasn't seen? >> again, as you point out, the new settlement only a few months ago, this gentleman left the company prior to that. >> right >> hard to know, but can we come to any conclusions that is ftc knows everything he's already told them? >> it is possible. it is possible what i thought was more interesting is what he's put in front of the securities regulators, in the sense that maybe not so much from mr. musk's purposes, but is he alleges the company engaged in this broader fraud scheme, to defraud investors by pitting out misleading informati

the report was filed with the ftc any clais ftc any claims twitter like to e ftc about strengthening user se. strengthening user security. and and that nearly half of twitter's employees have access to some of the main critical co. the main critical controls. he says the lack of security rate concerns over the chinese and indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian go he also had accusations about how twitter mishandled fake accounts. the issue of fake accounts has been a sticking pot been a sticking point in elon musk's been to take over the platform. must and twitter are said to court later this year. zatko has already been subpoend by musk's loggers. >> this is particularly importa. the whistle blower is saying that twitter is aware of the bots. this will take a lot moren to determine whether

relationship with the ftc, but there's this question about whether they are in such violation of this ftc consent decree when it comes to protecting user data, that that would be another argument for why musk should not have to buy the company. i think there's this question about whether or not this will change the timing of the case, whether or not musk's camp will get more time for discovery. zatko has been subpoenaed by both sides here. but the trial is as of now set for october 17th, and we'll see whether this has an impact in delaying that. it's certainly possible. >> julia, one thing that's picking up a little bit of steam this morning is the notion, actually the watch that is on watch now to see if, in fact, musk files suit in federal court alleging fraud, which would then be a huge escalation in this is that something that people are watching >> i mean, we never know what elon musk is going to do i'm also constantly watching his twitter account, certainly his lawyers would prefer if this all plays out in court and not on twitter. but he could weigh in on this at any moment and

the report was filed with the ftc any clais ftc any claims twitter like to e ftc about strengthening employees have access to some of the main critical co. the main critical controls. he says the lack of security rate concerns over the chinese and indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian governments having acces. indian go he also had accusations about how twitter mishandled fake accounts. the issue of fake accounts has been a sticking pot been a sticking point in elon musk's been to take over the platform. must and twitter are said to court later this year. zatko has already been subpoend by musk's loggers.

what's your reaction to that and the moves made so far at the ftc? rep.icilline: i am proud to say lena con was on the team and central to the development of our report. it formed the basis of the legislation we are discussing. she has been a champion for competition her whole life and i'm delighted she is at the ftc. while i won't comment on a particular case, i have full confidence she's pursuing and action because it will help restore competition and and anti-competitive behavior. i'd don't think we can take any statement made by meta or mark zuckerberg seriously. time and time again, they've been found to engage in anticompetitive behavior. mark zuckerberg goes on a national apology tour that results in the same kind of anticompetitive conduct. i think we have learned these companies are too big and they are not going to regulate themselves. congress has a responsibility. we've abandoned that responsibly for a long time. the good news is we are back in a bipartisan way. this will be the next big bipartisan victory of the biden administration when we p

they have so much money, they are clearly not worried about ftc scrutiny.he pandemic did not hold them back from spending one and a half billion .20, so clearly, there is other strategy or product related factors here at play. emily: mark gurman in l.a., thanks, mark, as always. coming up, digital rights in a post roe v. wade world. how to navigate what can and cannot be used against you when it comes to your web searches. that is next. this is bloomberg. ♪ >> the companies provide a very important service that allows people to access information about their health care. >> tech companies could choose to provide that information, provide free security services to websites disseminating that information so they are protected from vigilante hackers. >> the other things that tech companies can do is become very prepared to go into court and actually push back against the requests that they get from law enforcement. >> they have enough data on all of us to serve their business model. they do not need a data about people's private health choices in order to make

obviously you have the ftc going after nvidia, microsoft deals.ou have the activision deal for nearly $70 billion. you have meta, amazon, all of these players spending so much money and regulators suing them and trying to get in their way. and so maybe apple is fearful of that. as a new note inside the regulatory filings to the sec may suggest. but i think it is neither of those. 2020 was the height of the pandemic and that year, they spent more than they had since 2014. right? i also think that apple is not spending amounts of money that necessarily would lead to scrutiny from the ftc and other governments globally. i think this is a matter of fact of their product development schedule, one. two, investing in other areas. and three, maybe they are trying to go at it more alone without needing to acquire companies. but at the same time, this is extremely odd. i would bet that most people do not know that siri, face id, touch id, apple music, apple news, the weather app, i could sit here for 10 minutes giving you a list of iphone features that we a

look, the ftc is always playing catch-up the best and the brightest minds don't tend to go to the ftcbest and brightest minds go to large tech companies or start their own companies. and these folks are pushing the boundaries on these laws that always need to catch up. and so i don't disagree that a lot of this does to me feel a little bit onerous and over the top. we'll see how it plays out >> i mean, it kinda makes me laugh a little bit jassy and bezos, they can handle it, right? it feels like an offense push here not unwise they are getting ahead of it with so much more scrutiny you mentioned the mgm deal that went through. so i wonder if they are sort of, i don't know, pushing the buttons a little bit we'll see. meanwhile, if you own an iphone you may start seeing more ads. that and a lot more. apple shares, they are just 5% off of their all-tame highs after the break we will talk more stayitus wh in order for small businesses to thrive, they need to be smart. efficient. agile. and that's never been more important than it is right now. so for a limited time, comcast business is in

we want to talk about the market i do want to play quickly if i can -- former ftc joined us last weeknd the key -- >> i liked that interview. >> the key question -- >> i could play stuff from "mad money" -- >> and we do that all the time today may be one of the few days that we don't. >> go ahead. >> thank you >> you want to speak on the phone like we did yesterday -- >> that was hilarious. >> david, run the clip >> he made the point that the ftc has had its opportunity to audit the company. take a listen. >> every two years they have an independent auditor and the ftc gets the report of that audit. since 2011, and i'm sure that they reviewed that in their latest settlement which is only at the end of may, and as part of that settlement, included some of the points that were raised by the whistle-blower it showed me that they actually saw that so the question is, is that with this whistle-blower complaint, is there anything that the ftc hasn't seen already? >> that's a key question here that we'll continue. >> that was dispositive. >> he's going to ask for more discovery. we'll see if

the ftc is looking if amazon is using deceptive techniques to lure customers to sign up for prime sincet year. the ftc said amazon had become unduly burdensome on employees and executives. >>> a judge ordering twitter to hand over documents to elon musk the documents were what musk claimed were essential for the amount of fake accounts on the pla platform bot accounts have been a big issue for musk to end the $44 billion takeover bid of twitter. most unusual see them force an executive to hand over notes. >> never a dull moment with elon musk thank you, bertha. >>> retailers reporting the second quarter reports the action starts with walmart and home depot out before the opening bell then target and lowe's and tjx and foot locker reporting. walmart is struggling to clear out excess inventory as shoppers shift to groceries in the face of inflation home depot is expected to rise the contract for tools and building materials offset the do it yourself project. let's bring in scott mushkin with more on this. we have walmart apparent home depot today. we have better than expected numbers. i d

mudge's complaint is that it was never in compliance and now the ftc will take a fresh look. kristen: this is not the result of engineers working from home, right, that they had the source code in a nonprotected laptop? nonprotected enough. -- not to protected enough. were these things dating back a long time? >> many companies where you are competing for the talent of the engineers, it is a great place to be an engineer, because you use whatever tools you want. you can have whatever access you want. it's more convenient. but there's a trade-off with security. there are ways to work in source code where it is in a secure cloud environment, you don't need it on your laptop. kristen: to the layperson, why should they care about this? what is the impact on twitter users? >> so, it is pretty scary, because twitter has a lot of information about you. when you sign up an account, you likely give them a phone number and you certainly give them an e-mail address. probably your regular e-mail address, because you thought it was going to become secure. whereas in fact, there are not en

says twitter violated ftc terms by falsely claiming they had a strong security plan.ftc accuses the company of being deceptive in its handling of spam or fake accounts. the allegation is at the core of elon musk's withdrawal of his 44 billion dollars takeover of the company. the biden administration expected to announce its plans to cancel a portion of the nation's student loan debt as early as tomorrow. >> sources say the president biden's announcement will be the largest forgiveness of federal student loan debt to date. it's expected that biden will forgive $10,000 in loans for borrowers who make less than $125,000 annually. it may also include another payment pause expected to last roughly 4 months. the nation reported has roughly 1.6 trillion dollars in student loan debt. next up, we told you about one big fire in san francisco today. there was another near fort mason, the building that burned and the axis people had to that here. >> and he was shot twice in the back as he pointed the taser at officers. but will the officers be charged? the decision today from a s

i am delighted she is at the ftc. have full confidence she is pursuing an action because it will help restore competition and and anticompetitive behavior. time and time again, you are engaging in anticompetitive behavior, mark zuckerberg goes on a national apology tour and results of the same kind of anticompetitive conduct. we have learned these companies are too big and they are not going to regulate themselves. the good news is, we are back in a bipartisan way. we will get them to the president's desk. emily: we spoke to an investor last week who called apple the greatest monopolist of today. he indicated the ftc should not be bothering itself with meta, saying apple's crushing all of the small businesses under the guise of protecting policy? guest: all of these platforms are collecting and rolling out products and prefacing best referencing their position, meda is doing it with the way information is shared. they all doing it. apple is engaging in anticompetitive behavior. they all have different impacts. engagin

and the ftc's on the warpath against everything the agencies are tough as nails. companies are misreading it. >> speaking of ferc, we'll get to oxy and buffett getting the green light for nearly half. a bunch of software earnings headed our way in the next few days jackson hole on friday we'll get to kramer with that and his mad dash in a moment and nus. ialnsenbelln ig t mite your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (vo) at viking, we are proud to have been named the world's number one for both rivers and oceans matching your job description. by travel and leisure, as well as condé nast traveler. but it is now time for us to work even harder, searching for meaningful experiences and new adventures for you to embark upon. they say when you reach the top, there's only one way to go. we say, that way is onwards. viking. exploring the world in comfort. >>> all right. a little more than

and they not only treat the most t vulnerable population but in the most vulnerable moments and the ftc has unlimited resources to take on pantry trust in a broader -- antitrust in a border sense of emergency medicine? peter: that's a great question. the new chair of ftc does represent a really interesting break from what has been the dominant conception of antitrust law. i mean, and again, this is -- i get into this history in my book. this doesn't come by happenstance. it comes through the careful engineering of the "davos man". ... and it isn't coupled with and very t careful lobbying and thik tanks to push the idea that hey, the soviet union is the enemy. they are barack or ties, the government is here's their top downward rugged individualist, the going to let businesses do it businesses are going to do and have to mobilize the way they did when the second world war. and this becomes late worshiping ssof big business and a solution to all of life's problems. then this idea is what animates the government green lighting increasingly huge that create a lot of the monopoly power now i

we have senator blumenthal asking the ftc to investigate as well. what can congress do?t's your degree of optimism that they will do anything? >> well, i think this definitely puts a fire under social media in general, not just twitter. it's been a heated, contested debate around free speech and open debate and communication and whether these fall under telecommunication-type organizations. this is just another laundry list of issues. twitter talked about, they've increased their security. they had a major data breach as early as july with over 5.4 million accounts that were potentially compromised with users' personal data stolen and we see the negligence here around removing vulnerabilities and security issues so it makes a company appear more secure. i think there needs to be more oversight in companies, especially around how critical of a role they play in our society today. communication isn't happening just with one person in front of each other. we're communicating over tv, over digital formats. one of the most important things that we have today in our society, i

. >>> the ftc will drop zuckerberg from an antitrust lawsuit. ftc said they were trying to buy it and reduces competition and violates antitrust laws. >>> bed, bath & beyond secured a new financing deal it locked in a deal with one followed by a deal with j.p. chase. bed, bath will provide an update at the end of this month shares are up more than 15%. short interest at 38%. >> crazy stuff j retail more r and slashing the sales at lower rack stores. we've had a similar story for urban outfitters it's not all bad news. shares of lazy boy popping after a top and bottom line beat sales surged 30% year on year marking an all-time quarterly record by $236 million we're not done yet reports from dollar general, dollar tree in those good for you let's summarize earnings season as a whole how far are we through it? closer to the end but how do you rate it for them >> about 8 o% of the companies have reported earnings by now. the bulk are meeting expectations of those 169, about 149 -- all of them, 163 of them are warning us and they're still dealing wit

the ftc is also buying the america movil regulators. they are taking a harder stance on crypt out.eidi: there is a lot of uncertainty in these markets at the moment. whether this is something that can run through for the next few months and into next year. how cautious do you need to be and are you looking for pocket that will whether further downside? >> investment is catering to the retail client and what it is going to be best for their needs. volatility, defensive postures. if you have long-term assets you are investing, it is not a bad idea to look at emerging markets that may be struggling, in a risky environment, they will struggle, but over the long haul, you are buying it a night of valuation -- buying it at night valuation. heidi: you can get around about the stories you need to know to get your day going, terminal subscribers can find that i dayb . you can subscribe to get news on the assets that you care about. ♪ heidi: china expects a net loss of almost 20 $8 billion in the first half of the rebounds being a sprawling, the compeers with a 23 billion dollar profit i

they say the ftc is taking unusual and perplexing measures. they call investigative demands unworkable and unfair. the ftc has declined to comment on the allegations. kumasi: the girl scouts announced a new cookie. it is a cookie with raspberry filling instead of men. it will be the first girl scout cookie ever to be only available online. it is time to get excited again about san francisco's fleet week. the ayrshire -- airshow features thohmcinjops warship tours. there have been some funky scented candles lately, but this one smells like -- did you all steal the lemonade from aaa? -- from aaa -- chipotle? reggie: why the lemonade and not the coke? kumasi: the lemonade. reggie: i did not know that there was a connection between getting a free water cup and is typically lemonade. kumasi: if you are going to do it, do it. listen. look at it. this is a candle and it looks like a cup from chipotle. it will be officially launched tomorrow. it is said to be a tribute to people who accidentally fill up their water cups with lemonade. this is a limite

last month, the ftc under lina khan sued facebook over the acquisition of a relatively small vr fitness it's clear they are finally taking action. emily: julia love, who covers alphabet for us. thank you. coming up, the u.s. is spending billions to revive the chip industry. but after years of not enough supply, micron says the demand for chips is slowing. so now what? this is bloomberg. ♪ emily: president biden signed a broad competition bill into law, including $52 billion for domestic chip r&d. it's at the center of the administration's effort to reduce reliance on countries like taiwan and south korea, whose homegrown companies are leading the market. meantime, micron technology plans to invest $40 billion for chip manufacturing in the u.s. as part of a broader $150 billion investment strategy. but the micron ceo told bloomberg earlier there could be trouble ahead for the chip sector, especially on the demand side. >> due to macroeconomic uncertainties as well as high levels of inventories customers have built across various market segments, it is being adjusted demand. emily: here t

i mean lina khan, who is the new chair of the ftc does represent a really interesting break from what has been the dominant conception of antitrust law i mean and again, this is i get into this history in my book. this doesn't come by happenstance. it comes through the careful engineering of the davos man. we have this idea going back to the 70s from robert boark and the chicago school, you know this sort of hot house of neoliberalism that is long as consumers or not harmed as long as prices don't go up than any merger is fine is in fact good and and this ties into thinking about how the us one the cold war and it's coupled with very careful lobbying and use of think tanks to push the idea that hey the soviet union, that's the enemy right? they're rocket eyes the government's huge. top down. we're the rugged individualists. we gotta let business do what business is gonna do and they have to mobilize the way they did to win the second world war and this becomes this kind of technocratic worshiping of big business kind of solution to all of life's problems and this bork idea is what an

the ftc declined to comment. that is your bloomberg business flash.rancine: even with bitcoin down 50% over the year, jesse powell spoke to bloomberg on his outlook on the markets. >> in terms of the liquidity in the market, retail investors can pull back a bit from where they were six months ago. a lot of great reasons why. i think the macroenvironment is tough right now and inflation seems to be out of control. we are in a recession in the united states. that is to be expected and we have more discretionary income and they are making more investments. people have been worried about the price of gas, the price of -- the living expenses. >> the end of 2021 was trading more at $64,000. today, it is trading south of $24,000. what is your outlook now? >> i wasn't expecting all of this craziness in the macroenvironment. however, i am still hopeful that we will be able to buy by the end of the year on bitcoin. i wouldn't hold my hopes up. especially paying for gas for a car at this point. i am still bullish. i bought bitcoin at $18,000, so i am happy to ri

host: the ftc chair talks about exploiting most vulnerable population and how we treat them at the mostle moments. do they have the will and the resources in the broader sense and emergency medicine? >> that's a great question that the ftc does celebrate but byef happenstance it comes to the engineering of the davos men. they have this idea from robert bork but as those good —- those goods get up at that thinks about how the us won the cold war with the very careful lobbying pushing the think tanks they are brought fires but then with the individual list and doing what they want to do and then they have to mobilize the way that they did and then it becomes that technocratic worshiping of big business. and this idea is what animates the government green lighting increasingly huge mergers with sthe monopoly power in terms of supply chain and to be extremely successful tends to be this review article a few years ago about amazon essentially saying with the tech companies we will let a lot of damage happen. so we are all interested in prices then we will allow the huge companies to marshal

meta suffered setbacks reportedly delays release of ar glasses beyond 2024, and the ftc is looking to block its acquisition of a vr start-up plus, burning billions of dollars on its reality division every quarter. but not just meta. in the next year we expect a battle to brew to sell new hardware now, in addition to meta's coming quest pro along with its core quest 2 headset, lower cost apple is expected to release its mixed reality product soon as this spring and already reportedly working with content creators like john fangrow with content for the new format and plus google working on its own headset set for 2024 along with a new version of google glass, and microsoft is continuing to work to expand its enterprise-focused hollow lens ai headset to manufacturing and the like and microsoft says it's working on a consumer version on this headset as well venture investors see a growing opportunity in the metaverse that they poured $1.9 billion into companies in this space so far this year. that's more than the amount invested in these companies in all of last year but one question we'r

around them and alexa bought another smarthome company, ring, and it could be tough especially if the ftcblocks deals like this buying meta buying a virtual reality business a couple of weeks ago. >> what's tough, though, i spoke with jamie from ring and rick both of which were purchased by amazon, and the scale and the difficult ney building up enough capital to ramp a new product. so if you constrain the ability of amazon to buy these things maybe some of these things go away. >> i-robot is struggling right now. revenue reported the second-quarter earnings results and it was down 30% so people weren't staying inside and vacuuming their homes anymore and they were out in the real world and amazon saw they can get the company at a discount and they have the capital to provide and super charge any future products they may be working on >> it will be an interesting test of how much this regulation has teeth because i think it's hard to argue amazon's got a monopoly in robot. >> right they do have a big market share in the smart home and consumer robots, just like virtual reality is a market

privacy advocates are applauding the ftc's efforts.riticizing the idea, calling it government overreach. the ftc will hold its first public forum september 8th. and for the first time ever more americans are watching streaming services than traditional tv. that's according to new data from nielsen which said streaming in the u.s. captured 34.8% of your ship in july. that's a 23% spike from last year. cable accounted for 34% broadcast tv was a distant 3rd and it's not great news for the theater industry. regal cinemas has just filed for chapter 11 bankruptcy >> coming up next on kron, 4 news at 10 new details surrounding the issues at 33 to him. why the contractor in charge of paris air is no longer on the job. the accusations from residents plus response from the property owner. >> and tracking mild temperatures along the coast with inland valley heat returning for the 1st half of the weekend. find finally going to get relief and your 10 at 10 outlook after the break. >> nonprofit in oakland is looking to rebuild after car smashed into

the ftc accuses the company of being deceptive involving its handling of spam or fake accounts.it seems microsoft is ramping up more ads and more places for free users of its ios and android email app. historically most ads appeared in the other e-mail section, but now they're popping up in the list of important emails that's under the focused tab. users can swipe to ignore and hide an ad. but the app will show another one a little bit later. if your corporate e-mail user, you won't see the adss free users can get rid of them by subscribing to microsoft. 3.65, which starts at $7 a month. new at noon, a popular jazz bar in san francisco's haight-ashbury neighborhood will not be closing after all club deluxe set to close at the end of the month after a dispute between the business owner and its landlord supervisor. dean preston says after more than 6 hours of negotiations, the 2 parties, we're able to reach an agreement on monday. club deluxe has been a popular music venue since it first opened back in 1989 but was hit hard by the pandemic. the 33 year-old business is now applying

i thought there was an administration that was anti-big tech and anti-amazon, according to the ftc chair. >> they've been inquisitive. they are acquiring the largest in the last two years, but this is fairly small. 1.6 5 billion dollars. they can do this. they have the funds to do this. will they care? that is a question i cannot answer. >> i'll throw in at you. hopefully you can answer this. you obviously keep a close tap on what's happening in retail. generally speaking, could you see this outside of having more interaction with other amazon products in the home with the opportunity to row retail business through a deal like this area >> yes. it helps, but amazon does $600 billion on its marketplace. buying a robot or rumba is not going to be neil moving. no item can move the needle. but it does help. the more they can broaden with a cell on their space and on the product, and c integration, that is key. not selling out of it if the rumba is connected to alexa, that's one more device where you can access alexa and do more. they are keeping it top of mind, getting comfortable with shopp

he claims that twitter lied to the ftc about strengthening user security and nearly half of twitter's employees have access to some of of the platform's main critical codes. peiter zatko that the lack of security raised concerns concerns over the chinese and indian governments having access to user information. >> i think it speaks to the larger problem we have with big tech, in general. these are large companies with immense amount of power. they have been able to invade user privacy and their largely unaccountable. the the community does not control the community standards on these these platforms. that is something that really needs to change, or i think these problems are going to persist. >> twitter is pushing back. in a a statement obtained by cbs news, they say the opportunistic opportunistic timing are designed to inflict harm on twitter, it's customers and shareholders. the complaint also also had a bunch of claims about about fake users or box. that is is something we heard a lot about in elon musk's bid right now to try to get out of his plan to buy twitter. we know that mu

yvonne: the ftc has crackdown on executives at your company. that invested inventor -- affected investor sentiment? guest: the incident occurred three years ago. bitkub was around before the regulator came to the space, and it was the previous norm and of the industry what we do, and then when the regulations came in, we had to stop the activities. we tried our best to comply. the ftc only brought this up recently. no investors were affected by that practice. we have been measuring daily active users, and nobody -- it has not affected the company much. we have been dominating the market. now it's almost 100%. rishaad: quickly, how is the trouble affecting your business, and how close are you monitoring it? guest: the incident affected the overall public view of the cryptocurrency market in thailand from the outside perspective. the people within the industry, we see no difference. a lot more customers migrated to bitkub, because we are the only defective trading infrastructure -- de facto trading infrastructure. i would say it affected us posit

it's ftc settlement by falsely claiming that it had put stronger measures in place to protect the security privacy of its users. also accuses the company of deceptions involving its handling of spam or fake accounts. an allegation that is at the core of elon musk's attempt to back out of the twitter takeover legal nonprofit whistleblowers aid is working with sacco. its founder says that co has made all of allegations public after trying all he can to resolve his concerns. internal internally. this was a last resort for him. i mean, he worked hard inside the company to get these addressed, that he's worked with facts. >> one of the elements of the disclosure is after he was fired. he was asked to produce a report for the board of about some of these issues, which he did without pay without access to any of systems because they are even higher. zatko is a highly respected cyber security expert who first gained prominence in the 1990's and later worked in senior positions at the pentagon's defense, advanced research agency. >> and google. he joins twitter at the urging of then ceo jack dorsey

very robust antitrust enforcement that we have seen from the biden administration last month and the ftcht a case against facebook for the virtual-reality app which surprised some people as it was a relatively small deal and the congress is also having a bill that would limit the extent to which tech giants can advertise on their own platforms. they are ramping up enforcement on numerous fronts. kathleen: we will have more on the big beat by the biggest australian bank. this is bloomberg. ♪ kathleen: we are seeing a growing split on the s&p 500. let us get to morning calls. even forecasters do not seem to agree. annabelle: keep questions for investors in the market, s&p 500 moving from the june low, it is signaling a bear market rally? this is the from here, they could not even agree on this. the head of technical analysis here, he said that the bear market is over and he is pointing to reasons for that. also clues from inflation and consumers and investor sentiment, he says the next move on the s&p 500 will be to the upside. on the flipside he has has a quantitative strategist and the m

and this highlights this cooperation of the ftc a between government and private corporations, and private foundations, some of which were not so private. included in the promotion activities of the crusade for freedom was a wonderful tour of the liberty bell, which arrived in berlin, as you recall the site of the berlin airlift. and hundreds of children donated pennies in order to send the liberty bell to their cohort across the sea, the children of germany and berlin, west germany and berlin, west berlin. the other thing that the crusade for freedom did, launching balloons, like we see here. and those balloons or filled with many things. and there were many ideas for what could go into those balloons. leaflets carried political messages, but there was also an idea that american foods could be put into these balloons, and dropped although 14 pounds of food might not be a good idea. and the bibles were put into the balloons, the were called bible balloons. many, many things were put into these balloons, and launched from germany, they would float, given weather patterns into american foods

twitter and the ftc went into a decree in 2011 that the company would changes to its privacy practiceshis is an allegation the company has not done that. the companies have the right to act -- to ask twitter what's going on. emily: what happened at the latest hearing and how does that move the ball forward? >> the two sides of been fighting for a while about who should be bringing the information about bots forward. elon musk says the company has not been worth coming. that they are not willing to put forward employees who have the expertise. right now, they are trying to settle that in court. one of the issues is that elon musk lawyers want access to the whistleblower. they think he qualifies as someone who would be an expert on this kind of stuff so they're working with the judge to figure out who does twitter need to make available as part of this trial to answer some of those questions. emily: we are still learning more about the whistleblower allegations. i'm curious what you are hearing from your sources. i am hearing the twitter is looking at the same redacted document that appe

there's been a long-time debate over whether the ftc or cftc should be the regularittor.have two that come out and say that the cftc is the place too go . >> i want to get into the weeds in a second, but i want to get at this debate between the ft cftc+ ftc. i'm thinking about solana and other things that might be described as tokens and how ethereum can be described. but why are you convinced the cftc is the place for all of this >> the cftc already has authority over fraud and manipulation so they do have their feet in the water here and they're also have jurisdiction over futures. so we've had a lot of discussions with the cftc. we think that they're very used to large, wreckelectronic markes it seems to be the best home for the crypto space it's not that we couldn't do it at the ftc, it just seems like the cftc is the better fit >> and i hope you can come back so we can get into the weeds about what you don't like about the bill but to the extent this bill were to be passed sha, how do you thk it changes the dynamic >> i think 2023 is the year we can get things done.

the second is the information has been passed on to others, such as the ftc, the sec, regarding legalformation is practical or not. and third of course, we have twitter and elon musk engaged in litigation over the potential purchase of twitter, and one of the main issues there, misleading data around spam accounts, what net accounts. so those are really three massively conflating issues coming out as a result of this whistle—blower action, and really hitting hard on brand and reputation for twitter. ., ~ brand and reputation for twitter-— brand and reputation for twitter. ., ~ twitter. elon musk has been seekin: twitter. elon musk has been seeking a — twitter. elon musk has been seeking a course _ twitter. elon musk has been seeking a course to - twitter. elon musk has been seeking a course to get - twitter. elon musk has been seeking a course to get out. twitter. elon musk has been l seeking a course to get out of buying twitter. 0r seeking a course to get out of buying twitter. or the information supplied by this whistle—blower helped his case, do you think? whistle-blower helped hi

in this case, the ftc has launched an inquiry about nine assets on our platform.d a terminus amount of time, effort and resources classifying assets and whether we believe they fall into the security or utility space. if this is an opportunity to have that dialogue again and make sure we agree on a sensible framework, we welcome that and we will partner with any other regulators were lawmakers on this. emily: there's also insider trading case where a former coinbase employee has been charged. what is your relationship with the sec at this point and what is your comment on that case? emilie: we have a zero tolerance policy for front running. we pride ourselves on the amount of security and detection we invest in to make sure we can detect for front running. we worked closely with the dmk and they publicly lighted us, which is an unusual thing because we spent eight ton of time getting them up to speed on the new want of the case. we will continue to work with any regulators and law enforcement on making sure we nip that activity in the bud. emily: i know you are ve

what we are looking out for is what will the ftc say?know that they have been pushing a hard line on this, so is this concession from china something that they are ready to accept? everyone i am talking to in hong kong is waiting with bated breath for some sign from the u.s. that they will accept it. tom: the board is back in the court of the u.s. regulator and how they will respond. what's to investor analysts say probably -- what do investor analysts say? >> today, the hang seng tech index is not particularly excited. there seems to be a little bit of caution and a lot of skepticism in the market. you see the position that people are not ready to go along with this market and there is so much uncertainty. the traders that wants to keep their exposure to chinese tech have already brought the hong kong listings of alibaba and a few other listed companies. this is good for hong kong and it shows that if it turns out to be true and the u.s. does follow through on this, it shows that hong kong's feature as a financial hub is relevant. -- fu

twitter and the ftc going to a consent decree back in 2011 that the copy would make all kinds of changesactices and this whistleblower says the company has not done that. both regulatory agencies have a good reason to at the very least ask twitter what is going on and seek clarification about what this whistleblower claims. >> what happened at the latest hearing? how does it move the ball forward? >> the two sides have been fighting for a while as to who should be bringing the information about bots forward. elon musk and his cap say twitter has not been forthcoming. they are not being willing to put forward employees who do have access to that information or expertise. twitter is already doing the opposite. they are trying to settle that in court. one of the issues is that musk's want access to this whistleblower. they think he qualifies as someone who would be an expert on this kind of stuff so they are working with the judge to basically figure out who twitter needs to put forward and make available as part of this trial to answer some of those bought questions. >> we are still learni

beth moore and russell moore both left the ftc recently. this is where the story is. one of the things i try to do throughout this book is get a handle on who are we talking about? what is evangelicalism? i talk about it as a consumer culture on a series of networks and alliances and i'm always asking this question of what is fringe here and what is mainstream? sometimes people that are pretty sure that they are mainstream like christianity today; right. people like russell moore find out and have found out over the last five years that they're not. that they are being pushed out and if they're being, you know, anpressured. o so one of the thins this book is doing is trying to tease out what is the mainstream and what is the fringe and power dynamics at play here in does the center of evangelicalism shift over time? that's the way to procrastinate in answering your question in what's next. where do we go next? we're seeing here a fracturing and splintering evangelicalism down the mid and will not like a 50/50 divide. trying to wrap my head around the kind of what we'r

the ftc seems to be possessed with that.is almost like, you have to get out of fang to not have her go after you. the interest department is trying to find genuine collusion. when they do, they come in with hotmail boots. so these, this is an organization that i think is just picking one, big american companies. >> we have a lower open for the course. on the job, 41, 12. her had been some work yesterday. steeple, for example, rallied to 4200. update to 4400 because they were made to believe, as he said, the inflation had stopped. >> i think today is the day, with very thin trading, by the way, where you have to say, okay. this was not in the scenario. the scenario was, if they bumped it twice, these giant rate hikes, the confidence would be rolled up to the higher. if you look through where the hiring was, yeah. travel, entertainment, everything involving leisure. healthcare is doing great. government is hiring, which will show that the government is putting bills to hire more people. >> this was being said last night. the p

another looked at federal agencies coordination activities, specifically the extent to which an cia, ftc and others followed practices in collaborating other spectrum interference issues. with respect to the reallocation process at the time of our review, we found the end tia did not have plans of reallocation efforts from start to finish. we identified two leading practices that can fit the end tia's efforts. including having a program management in place that is updated regularly, a massive schedule updated annually. absent of these practices, we found that agency stakeholders may not be sure they are anticipating and preparing for the many steps involved and their bases to judge whether work can be performed faster, may not be able to read on effectively. further, while the end cia is required to ensure branch views are effectively permitted, the fcc, we saw the ntia lacks agency to do so. documented procedures can provide clarity on several points, such as a level of technical detail they should be permitting to the ncia. we found the mechanism used by the agencies did not always ful

the ftc says there are telltale signs including promises you won a free prize. alerts of allegedly suspicious activity. saying there's a problem with a delivery. >>> well, the voluntary nationwide recall was issued by aid well personal care. this after they found that samples of the banana boat sunscreen contained benzine a carcinoagain. >>> carcinogen. >>> and we have sports coming up next. find out why you don't have to say goodbye to debo with xfinity internet, you get advanced security that helps protect you at home and on the go. you feel so safe, it's as if... i don't know... evander holyfield has your back. i wouldn't click on that. hey, thanks! we got a muffin for ed! all right! you don't need those calories. can we at least split it? nope. advanced security that helps protect your devices in and out of the home. i mean, can i have a bite? only from xfinity. nah. unbeatable internet. made to do anything so you can do anything. >>> great news from the 49ers and their fans. even better news for debo samuel. the deal is reportedly worth more than $73 millio