and say that humphrey's executor does not cover the current ftc because what the ftc is doing now is much more executive according to the court's recent decision of law and free enterprise fund and therefore the preservation of removal protection requires the quasijudicial action in the 1930s era ftc no longer can be reconciled with what the agency is doing. will see the ftc's approach has been to oppose the support in the case and i don't know how much firepower the case will have in the district court which obviously bound by precedent. i think in the years to come in these areas in the executive branch we will see a lot more play even though as of the last term the court has shownou more hesitance and reevaluating the balance of power between congress and the court itself. >> excellent. thank you very much jennifer. [applause] that was incredible you maintain your composure and delivering, very impressive, first i will remind online we were interviewer sending your questions so it can be sent to me right here and before we open up questions to the audience and people online i woul

for instance, the french version of the ftc. terrified of twitter in comparison to the ftc. and when i looked at why, it was because there was more of the fear that it would not be a one time pry. longtime funding did not bother twitter at all. when i saw the reason, it was much less than we had been concerned about and each time in my discussions with the chief privacy officer, with privacy engineers, and the executives, they said ok, we will pay that and keep kicking the can down the road and maybe we will get another one time fine. wall street did not seem to care because it wasn't a long-term problem that was ongoing. what did make these companies afraid was that there was a risk of, hey, you have mishandled the same type of data repeatedly. maybe we are not going to let you -- >> to mishandled the data? peiter: if twitter mishandled email addresses repeatedly, the concern was if the ftc were to tell it that we are not allowed to monetize email addresses because of our continued inability to handle them correctly, will then we might not be on fair footing with our compet

i'm sure the ftc and also the s.e.c.s going to want to hear about that, too, to the extent he's also opened with this allegation that there's a larger attempt to mislead the public. >> right >> unclear whether senators will follow up on that key question, though, isn't it >> that's true. >> oftentimes this is about theater more than anything else and they have an opinion -- or at least a viewpoint they simply want to get through to their constituents. >> i'm always reminded, someone gave me this advice when i came to washington, that when you appear before a senate or house committee, it's about the senators and the house members and what they have to say. >> right, right. the ftc itself particularly, because you know the institution well, do they employ outside auditors to do these kind of auditors is there any question of their competency, frankly, in understanding what's going on at these companies and whether they're adhering to the standards that have been set >> absolutely. absolutely you know, one of the things th

in the study i contacted with the ftc we found that median reported losses for consumers in seventiesighties were $10000 quadruple reported by young adults. we can also use reporting data to look at methods of money transfer. today banks transfer andro cryptocurrency is a clear front runner with losses. these account for one.$5 billion of stolen funds double from all other payment methods combined. this is a great deal of money, research indicates that fewer than 3 percent ofnt consumers report to law enforcement. so the true losses are magnitudes greater. among older adults, gift cards are still the most common method of c money transfer. they are favored by perpetrators because they are easily available to consumer and her on —- consumers, anonymous and redeemable. sales clerks are the only individual in position to intervene. my research supported by aarp retail store managers and we survey cashiers to document what is being done. we found most major retailers have some type of financial warning so that messages for small were completely lost with gift cards competing for shoppers

ftc focusing on privacy and data security.nd that is a very good idea. but unfortunately, republicans killed that proposal. including some of the same republicans that were complaining today about the ftc not doing enough. there is a lot more policymakers can do. they can pass a consumer privacy bill. they have been stalling on that. the ftc can issue more comprehensive data security rules. they have been reluctant to do that. they preferred to reset it once. the problem is, it does not set clear security rules for other companies to follow. they just recently kicked off rulemaking. there is a case that rulemaking should be focused on data security as privacy. emily: alex, what is next? we are now about a month away from the day that this trial was supposed to start. elon musk uv twitter. >> what is next is continuing this evidentiary area process. against the backdrop of one of -- what is going on in d.c. one of twitter's executives will be there alongside mehta, youtube, and tiktok execs as well. for twitter, they will have

for instance, the french version of the ftc. terrified of twitter in comparison to the ftc. and when i looked at why, it was because there was more of the fear that it would not be a one time pry. longtime funding did not bother twitter at all. when i saw the reason, it was much less than we had been concerned about and each time in my discussions with the chief privacy officer, with privacy engineers, and the executives, they said ok, we will pay that and keep kicking the can down the road and maybe we will get another one time fine. wall street did not seem to care because it wasn't a long-term problem that was ongoing. what did make these companies afraid was that there was a risk of, hey, you have mishandled the same type of data repeatedly. maybe we are not going to let you -- >> to mishandled the data? peiter: if twitter mishandled email addresses repeatedly, the concern was if the ftc were to tell it that we are not allowed to monetize email addresses because of our continued inability to handle them correctly, will then we might not be on fair footing with our compet

neither the ftc or the cftc has jurisdiction.t we need is congress to come in and say we have this commodity spot market. other commodity spot markets, they don't have any regulation -- federal regulators, we need to find a new federal regulator to come and make you like market. i think congress has a choice. what is interesting is the three major puzzles have all noted to the cftc as being the appropriate regulator for the crypto industry. probably because they already have regulatory powers over crypto futures and i'm in a collision in the underlying market. i think this is probably the place it will end up. congress seems to think they want to give this to the cftc. >> what does this mean if more of that moves over? they were looking at nft is. other security influences potentially here. do you think the ftc eventually loses some power over these markets as they already started on the enforcement path? >> i would argue they don't have any authority through the pure crypto commodity markets. they have authority over things like

the ftc has been active in this case for a number of years. this regulation fills the gap with respect to commodity transaction in the spot market. we wouldla certainly welcome tht role in the space. >> thank you. doctor your testimony raises an important point how this committee may provide further certain market participants who comply with the bills registration requirements with quthe digital commodity. t somehow subsequently run into an threat to reclassify. what appears to be a digital commodity as security. how can we address that problem? >> thank you so much senator for your leadership on this important issue. i think that is really the key here. many established market participants and other securities are looking for that clarity and coherence. and as you say what are the issues could be something that is reclassified after the fact we would wanthe kind of certainty that comes through safe harbor or something bring the time in which we are trading those instruments to be able to later on not face civil litigation, other kind of enfo

it can also go to the ftc as well.: what does it mean for the sec, they are so many things that they were looking at nft's , other security issuances potentially here. do you think the sec loses power over these markets as they already have started on this path? >> would argue they don't have any authority over the." commodity markets. they have authority over things like security. you can use blockchain based systems to issue equity to tokenized shares of stock, when you have something that is truly security the sec is going to have a role to play there. the problem is for innovators is that there is a big gray area it is hard to know when they apply. but they need is a framework that addresses the concerns. the stakes are high from a regulatory perspective, if you are deemed with purity, if you're doomed with the commodity there is no regulator at all. by having a regulator, the ftc regulate crypto commodity there will still be market surveillance, there will be disclosures that help give consumers more information.

. >> then last month is filed a whistleblower complaint with the ftc complaining that the company ignored major security twitter doesn't just have access to your tweets and mail address email address. >> they also to all of the data necessary to directly access your device and even pinpoint your exact location that go told lawmakers that all of twitter's engineers can access that data. >> and the company can't control what happens to it? does this mean that twitter is actually unable to delete data or they just don't willing. >> it is unable because they do not know where it is. so they're unable to comply. >> twitter says that allegations are, quote, designed to capture attention and inflict harm on twitter, its customers and shareholders senators say they plan to get to the bottom of zatko's claims and have called on the ftc to investigate in washington. i'm anna wiernicki. >> next, a crackdown on people trying to earn some cash with san francisco. police officers spent the day doing and why this is happening. >> plus, a new report makes it clear that inflation is still here and not lik

lauren: in my opinion nonsense, but it is really happening, the ftc wants jeff baeza's and amazon's ceoify on this probe that began in march 2021 about customers who complained about sign up and cancellation process. it is hard to get out of anything you subscribe to, we know that. that is where the probe started but amazon said it ventured out, they are calling it an open-ended list of topics the ftc wants responses to and they produced tens of thousands of documents and want to make other executives who knew more about crime, that was their daily option, to testify, but the ftc says no. that is who they are getting. ashley: okay, not sure about that one. amazon is down 1.5%. now this. parents are furious after they say their son was duped into taking a radical high school course on d colonizing us history. got that story to be sure. take a look at this headline in the wall street journal. migrant flights obscured the real desantis divide. dan heninger wrote that and he's on the show next. ♪ shake it up ♪ shake it up ♪ shake it up ♪ ♪ welcome to ameriprise. i'm sam morrison, my brother

host: if we could talk about a pair of cases you are involved with -- the actin versus fcc and ftc versus kaufman case. paul: thank you for mentioning them. i will introduce the topic by going all the way back to the beginning of the panel and talking about that first case where the question was did the sackett family essentially have two wait through the epa process before they could bring their challenge or could they say at the begin of the process, wait a second, this is crazy. our property is not in the jurisdiction of the federal authorities. there are analogous questions that arise all the time in the context of administrative agencies, particularly when the challenger thinks there is something structurally problematic about the agency. that could be everything from your whole agency is unconstitutional and humphrey's executor should be overruled or it could be something more modest like the first thing that's going to happen to us is when we walk into this agency, we are going to have a hearing before an administrative law judge who is not removable by the ftc or president but is

also creditkarma now facing a $3 million fine for tricking customers what the ftc is alleging against the bay area company. you might already know that prop 27 taxes and regulates online sports betting to fund real solutions to the homelessness crisis. so how will that new revenue be spent? new housing units in all 58 counties, including: permanent supportive housing, tiny homes communities, project roomkey supportive hotel units... and intensive mental health and addiction treatment. in short, 27 means getting people off the streets and into housing. yes on 27. she says she was attacked in her oakland neighborhood tonight. she's sharing her story, hoping it will raise awareness about these dangerous altercations. ktvu is amber lee joins us live tonight from oakland after speaking with the woman who believes amber, this was a targeted attack. that's right. mike the victim tells me she was likely targeted because she's an older woman walking alone. she wants to warn others. i love this area. i mean, rockridge just is just a small business mecca. but mary, who asked us not to show her f

regulators, both in terms of legislation and also funding to the agencies like the ftc. they said that mudge said twitter was a lot more concerned about foreign regulators than those in the u.s one thing he hasn't talked about yet which is very much relevant to the coming trial with elon musk, that is bots back over to you >> julia, thanks very much we continue to watch the markets. the nasdaq still down about 4% meta the worst perform other than the s&p 500 meanwhile let's get a gut check on oracle delivering a top line beat in their latest earnings revenue up 18% year on year fueled by the acquisition of certainer, eps and guidance coming in under consensus. however the stock is holding up a lot better than other tech names this morning shares are down by just 1.3% amid the broader sell-off. john >> down 1.3 is the new up this morning. let's turn to cyber security and take a look at palo alto networks the broader sell-off, out performing the broader nasdaq though shares have done pretty well year to date i'm told they are about 8% from their all time highs so let's fin

how is the ftc responding to these especially for those with limited english proficiency? >> thank you for your question. scammers flocked to areas where there's disruption. whether it's confusion and fear, it is a playground for criminals. while i can't speak from the perspective of the ftc, i can say, when we think about consumer education, education is best delivered in the moment when it is relevant. when there is an actual natural disaster, that is when we need to alert those communities to the fact that there will be criminals even the people going door-to-door, trying to take advantage of them at a time when they are hit hardest emotionally. informing people, never do business with someone who comes to you. never do business with someone that comes to you, do your due diligence. thank you for that question. but thank you chairman casey, i yelled back. >> thank you senator rosen. we are coming to the end of our hearing, and i want to start by thanking our witnesses, i will have a closing statement and then i will turn to ranking member scott. we can't think our witne

by the way, you saw the ftc is asks facebook to preapprove any bids it makes on acquisition, which is't wait for the government to decide whether it's allowed to business that's a huge disadvantage >> also, first off, the fact that the government thinking they can tell private industry what to do, i guess they do, but if you want to buy this company, that commissioner will leak that news pretty much, you know -- don't tell anybody, by facebook wants to buy so-and-so, right? what about apple what are they getting wrong? >> the sentiment that is turn to silently negative. i think it's sort of on the unimpressive iphone 4 lineup i think what people are missing there, i think advertising too double their service revenue advertising in general has higher margins than services, and service at apple have about double their hardware margins. you can't have iphones not do ago well, and the eps growth can far outstrip a great iphone year >> this is a really critical point. i want our viewers to do something i did, something he recently did i saw what i was paying apple every month. and they hav

. >> so president biden has been calling for these investigations from the ftc for about a year ago and found no wrong doing in price gouging by the oil companies or gas stations because of the price of gas. back to you. stu: edward, thank you very much indeed. i have to tell everyone the price of gas gained another, went up another 2-cents overnight. it's actually up 10-cents from last week. $3.78 is your gallon of gasoline that would be regular nationwide. gas buddy guide patrick dehon joining us here. patrick, how much does a storm like ian affect gas prices nationwide? >> well, stuart, thankfully not much at all. we saw some offshore oil production shut down initially after ian's projected track was in the panhandle of florida but much of that has been restored so no refineries have really been shut down because of ian so this is going to be a blip but having said that, there's many refinery issues in different regions of the country. california seeing a lot of refinery issues and their prices up over 50-cents a gallon from a week ago as well as prices jumping in the great lakes and

last week the ftc asked amazon and irobot to send additional information about the proposal.nesday, amazon's senior vice president and advisor told me he feels confident the deal will go through. softbank group has begun laying off employees at its vision fund. sources say softbank expense to -- expects the cut at least 30% of its staff. the london-based visions fund unit had 500 employees and recently posted a $23 billion loss with most of that coming from a plunge in valuations. there confident despite a lackluster ipo in germany thursday, they just eked out again turning its trading debut with the ipo valuing the company at $73 billion. it cfo told bloomberg the company can beat its revenue target for this year despite the difficult macroeconomic situation. here is some of that conversation. >> we have successfully mastered one of the biggest, largest ipos in europe ever. we are very proud and i would like to say thank you to our entire team. whose work has insured that we can stand here today. >> i cast my anxiety to 2018. four years ago. you came out and said maybe we sh

for example ftc, a resource regard to china to keep twitter under any kind of decree entered in 2011 and more recently they are contemplating making twitter pay 150 million for misuse of information. one hundred of the 50 million for multibillion-dollar company is nothing to provide any incentive forar them change what they are doing and yes this information out there from so many sources including appliances and cars and everything. , and anything else. however, twitter is a huge, if i can call it, single platform to access. who is going to force who is going to force twitter to do anything? we were to adopt legislation contemplated, if we don't have an agency that can intimate and enforce that law and we are back where we started so what is it going to take to force twitter to change its ways? >> this starts at the top and you need an executive team willing to go in and say they acknowledge them. acknowledged, m say we have 10 years of unpaid debt here and at some point we need to get ahead of -- they need to prioritize that. the board's primary role is to make sure the right execu

he said the ftc is in over its head and this is as the ftc tries to explain claims to the senate panelhe also goes to say preemptively that he does not make any disclosures out of spite because he was fired due to poor performance. guy: senator grassley calling for a ceo magic nate -- resignation. you almost never see that. what was interesting is that he was invited but he declined to come to the meeting or the hearing. so, it is getting feisty. as you say elon musk is paying a great deal of attention to what is happening. this in some ways goes to the heart of what we are talking about in terms of the twitter case. ed will join us later on and will talk about this class also what is happening with another very high-profile case taking place. next, perfume and cosmetics also boosting repair, even with prices that sought -- items that saw price increases. this is bloomberg. ♪ pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a y

. >> reporter: he said the ftc suspect up to the task. >> i think the ftc is a little over their headies and the challenge they have against them they're left letting companies grade their own homework. >> reporter: jake, we haven't heard from executives on the record since he went public a month ago. this is what twitter saying in a statement tonight saying the hearing con firm that is the allegations are riddled with inaccuracies but not really answering the questions on the specifics. we asked if that alleged chinese government spy is still working at twitter. there was no answer for us on that. shareholders voted for that musk $44 billion to take over twilter to go ahead. musk as you know is trying to back out now. that is all going to trial in a few weeks in delaware. so very roller coaster time for this company. >> all right. thank you so much. appreciate it. >>> next, the power of unions as more american workers go on strike. stay with us. the stronger, lalasts-lonr energizer max. (kari) i just switched to verizon business unlimited. it is just right for my little business. (je

to say that it really does not govern the protection of the current ftc because what it is doing the more executive to the court's recent decision and therefore the preservation of the removal of protection for the cause i judicial action in the 1930s era no longer can be reconciled was at the agency is doing. the approach so far as the proposed amicus support that i don't know how much firepower that was found by precedent but in the years to come in these areas of structure within the executive branch we will see a lot more play even though this last term the court has shown more hesitant in reevaluating the balance of power with the court itself. >> excellent. thank you very much. [applause] that was incredible. we will remind the online viewers to please send in your questions. i would like to assign the moderators privilege. so the federal tort claims act is guided and the westfall act preclude state towards as we learned from your article and is a remedy in the founding era. is that only congress that can go about the westfall act? are there any arguments to be made that the ot

. >> then last month is filed a whistleblower complaint with the ftc complaining that the company ignored major security flaws. twitter doesn't just have access to your tweets and mail address email address. >> they also the next system. all of the data necessary to directly access your device and even pinpoint your exact location that go told lawmakers that all of twitter's engineers can access that data. >> and the company can't control what happens to it? does this mean that twitter is actually on able to delete data or is it just unwilling? >> it is unable because they do not know where it is. so they're unable to comply. >> twitter says that allegations are, quote, designed to capture attention and inflict harm on twitter, its customers and shareholders senators say they plan to get to the bottom of zatko's claims and have called on the ftc to investigate in washington. i'm anna wiernicki. >> new details now about the justice department's growing investigation into the january 6th attack on the capitol. the department has issued subpoenas to about 40 of former president donald trump'

. >> as for regulators, he says the ftc is up for the task. >> honestly, the ftc is in a little overies, and the times they have against them, they are left letting companies grade their own homework. >> we haven't heard publicly from twitter and diapers since zatko came for these allegations for the first time about a month ago. but twitter is saying today that today's hearing only confirms that zatko's allegations are riddled with inaccuracies and inconsistencies. but the company not answering our specific questions about whether an alleged chinese government spy is still working at a company. this all coming on the same day that twitter shareholders. voted for that elon musk 44 billion dollar deal to take over the company to go ahead. musk, of course, trying to back out of that. all of this coming in a showdown in delaware next month when it was a trial. donie o'sullivan, cnn, washington. let's go back not to london, cnn's becky anderson outside of buckingham palace. and becky, really notable there just how quiet and somber these tributes have been for queen elizabeth. >> yes, abs

. >> the bbb and the ftc say that the key thing to remember is that apply for this program is free. >shouldn't have to pay and the money to sign up. the ftc says anyone who claims that they can help you sign up, but then wants to charge you money for that likely is a fraud. >> they might use the guise of additional benefits by painter. you get your money faster, but it's it's all fake. so you don't fall for that? >> for the program you want to use the official government websites for any information or email go to dea dot gov and student aid dot gov. dot gov. that's the important thing. >> 9.49 and new this morning ups is hiring. they want to hire more now 100,000 workers for the holidays because as you know, that is a busy time. so they need a lot of employees. >> to handle the influx of packages that they're expecting. >> the season usually for sending thing starts ramping up in october and it remains high in january. the openings are for full-time and part-time positions. and it's primarily for package handlers. drivers, people that load and that that's a job i want that's backing

outrage across both sides of the the aisle, especially since the social media giant was ordered by the ftc to better safeguard personal information as part of a settlement in 2011. >> i wouldn't exactly give a passing grade to twitter when it it comes to the security of information. as well the government agencies their own homework, and i think think that's one of the bigger challenges. >> chuck grassley said, twitter ceo, rejected the company's invitation to appear before the committee. >> if these allegations are true, i don't see how can maintain his position and twitter. >> twitter has disputed the allegations and says security is is a companywide parity. >> a side note, twitter shareholders voted in favor of elon musk's $40 billion takeover takeover deal to buy the compan. the company. the catch, elon musk is seeking to terminate that agreement, so we are watching it closely. something else we are watching, fire. this this is a live look at placer county. new brush fire in i-80 dutch flat north of the mosquito mosquito fire. sheriff's deputies watching this one closely, and they are

they don't favor anything t that -- or linum at ftc said we have a history of antitrust being activeiciary sometimes at odds so it was just a really good call how did it happen they drew someone in the judiciary who basically said, are you kidding me, come on. let's have mergers how many are pro merger do you think? >> it really does depend on the case too in this case people watching closely tell me the government's arguments and their opinion were flawed and were not, were not particularly effective because it was outside and this is the key for the doj. they are outside the traditional arguments that have been made in terms of anti competitive deals. when you argue against a competitive deal, it's not horizontal you're not taking market share and just putting it together we will have to see on a case-by-case basis but right now price may be more of an issue than regulatory. i don't want to in any way minimize, carl, the impact that the ftc and doj's aggressive stance happens >> given arm, atvi and figure ma could this be a record quarter for m&a. they got blocked i'm only halve jo

two key documents, the mla between the ftc and in cia cash ncia -- ncia, had no defined and agreed uponrocess. the fcc and ntia have announced an iou between the agencies to address this issue and have begun meeting. we also found the agency mechanisms lacked agreed-upon procedures to conduct feasibility and potential interference studies. recent reallocation efforts related to 5g, such as seed band and the 24 gigahertz band which involves nasa and the functioning of weather satellites which have been hampered by a lack of weather agencies that would cause harmful interference to users in adjacent vans. we have made a number of recommendations to the fcc and ntia outlined in the two reports. the agencies are agreed to work collaboratively and have begun to implement our recommendation, as evidenced by the mou released today which we believe will help create a framework or disagreements regarding the reallocation of spectrum can be resolved based on the technical findings. this concludes my prepared remarks and i'm happy to answer any questions. >> next, we will hear from our fourth witn

. >> the bbb and the ftc say the key thing to remember, does that apply for this program is free.he and help you sign up, but they want to charge you money for it. now that's a red flag that this is a fraud. >> they might use the guise of additional benefits by painter. you get your money faster, but it's it's all fake. so you don't fall for that? >> yeah. for this program, you want to use official government websites for information and e-mail addresses and updates like ed dot gov and student aid dot gov. >> it's 7.50, and new this morning. ups plans to hire more than 100,000 workers for the holidays. it's a busy time, obviously for sending packages. so the extra employees. >> we'll be able to help handle all of things that you want to send. the holiday season starts ramping up in october and remains a high into january. october. really cause costco thinks is now the openings will be fulfilled full-time and part-time positions primarily for package handlers and drivers and driver helpers. let's talk sports baseball. the giants looking to make it 2 in a row against the dodgers bec

earlier this year he filed a whistleblower complaint in july that co testified the twitter violated an ftcement by claiming that it had stronger security measures in place that it actually does. they don't know what data they have, where it lives or where it came from. and so unsurprisingly, they can't protected. and this leads to the second problem, which is. the employees then have to have too much access to too much data too many systems. it's not farfetched to say that employee inside the company could take over the accounts of all of the senators in this room. twitter denies the allegations say that zatko had presented a quote. >> false narrative. also today, twitter shareholders voted to hold elan musk to his 44 billion dollar deal to acquire the company. he is currently suing to get out of that deal. and a trial is set for this fall. >> coming up, police say they finally identify some human remains found near an apartment complex on the peninsula. details how a 3 year missing person investigation turned into a tragedy and a little close for comfort. a mountain lion takes a stroll cl

pulled personal user data, he emphasized what he thought and effective enforcement coming from the ftc the cpi was the big story across markets. when you break things down across not just sector movers but individual movers, over 1100 stocks are down for the day. that's quite sizable. what is encouraging if you are able's volumes are on the lighter side of things. 14% lighter than usual. maybe not a lot of conviction. yvonne: go long on volatility, right? we have a whole bunch of central banks coming out with policy as well. rishaad: this is bloomberg. [laughter] ♪ >> from the heart of where innovation and power collide. in silicon valley and beyond, this is bloomberg technology with emily chang.

in the future, private enterprises will be able to use this like coin boy -- coinbase and ftc.ts will get into this. francine: the pantera capital chief executive speaks to kailey leinz and matt miller. we also get breaking news out of unicredit read -- unicredit. the former chief executive saying he is expecting a recession on the question is how deep. at the same time, we are getting the german chancellor olaf scholz saying that russia does not want to deliver gas as an excuse. it does not take a lot look at the picture that gazprom posted and wonder what that thinking is and whether this is political retaliation. it is about the yen, a currency we have talked about. stocks are dropping with commodities at the prospect of aggressive monetary tightening as the dollar gains to another record today. the 30 year u.s. yields also around the highest's 2014. the bond selloff races another interest rate hike by the fed to tackle inflation. traders are also bracing for the european central bank edition due tomorrow. we are also watching the u.k. cabinet members that are arriving at do

permitting on may 11th, and it doesn't seem to mention oh ftc. so again, here's another example of the [inaudible] explicit policy which the administration seems to be ex ignoring in favor of the accelerated projects in favor of its own agenda. a result of the administration putting its agenda ahead of the law, of the land, and even acting in contradiction to the law in some cases is the infrastructure funding. already, it's dramatically devalued by this crippling inflation. this has been pointed out. it's been diluted even further. this is not shaping up to be the infrastructure bill that americans were promised. and now more than ever, this administration needs to focus on real infrastructure and on policies that can get us out of so many of these crises. with that, i do want to thank the chairman again for holding this hearing, and thank you very much second mister secretary. i know you are busy, but coming before congress, it matters a lot of us. >> i think the ranking member, now, i would like to formally recognize the -- pete but a judge, t

emily: preparing for a suite of new regulations coming from the ftc, the fda, the department of energy are you specifically prepared for when it comes to regulation? >> you have to look at the regulation itself. there's a lot of regulation that has the best of intentions. but then you have to look at how they are implemented. we do a lot of responses where one of the top two breach response firms in the world. in the middle of a breach, it is difficult to be talking about disclosure. it is important understand the timeframe and not to be able to compromise an investigation. and then, what are the parameters around that? what is material? what should be disclosed? there's a lot of complexity around that. we are trying to work through that with many organizations. it is important that people have visibility because you can't just say you didn't know. you have to take measures to -- your systems to identify and prevent against potential breaches. emily: george kurtz, ceo of crowd strike, always good to have you. coming up, the attorney general who took on google and has sounded the alarm

and a nuclear security policy would he emphasize what he is always ineffective enforcement from the ftcking a look at the to head for australia and new zealand, we have the balance for the second quarter, the first quarter, just over 6 billion kiwi dollars. the volvo group to supply responsibly resource to low carbon products and the financial view reporting that the equity raise was 3.1 billion aussie dollars. it should have a chicago skyway deal. inflationary pressures around 5% more expected than a year ago. we discussed the inflation with the ceo of american apparel & footware association. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. p

basically, it was activists, congressional lead supporting the legislation, the ftc chair, the doj antitrustsome of the most important people in the biden administration and in congress were plotting out, how are we going to get this bill across the finish line before the end of the year? it looks likely the gop is going to retake the house. the gop is not one to take up the bill in its current form, especially under potential speaker kevin mccarthy. they were just trying to strategize and get together. ed: quickly, emily, how do they regroup? emily: folks are really pushing for the lame-duck vote. they think find a path to the midterms, and then there is no reason for vulnerable democrats not to want to take this vote. they will spend the next couple of months firming up the whip count and getting people on the record saying "i support this legislation" in news coverage. ed: that does it for this edition of bloomberg technology. thursday, we have workstream talk employment, particularly with front-line workers. you can find us on the terminal as well as online on apple, spotify, and iheart

not liking the answer from the ftc -- sec does not mean there isn't guidance. in all fairness, most of these tokens, the vast majority are securities. thus, the intermediaries are likely to be in noncompliance with securities laws right now. we are really trying to work with who we are talking to, a wide swath of these organizations right now, to get the properly registered, to get them inside the remit. this is what we do with all respect to mr. levine. we have been pretty clear. my predecessor, chair clayton, was pretty clear through commission actions. we are going to continue to protect the public as best we can. >> thank you. as of august 2022, the fcc had -- sec had proposed 32 new rules in just 11 months. it is preparing at least another 19 for release in the next year. these are complex rule makings that will greatly impact markets, capital formation. in addition to that, these rules are being implemented in an overlapping timeline. they affect the same or interconnected financial products and market sectors. however, despite the linkages between the va