to the ftc act. it protects unfair methods of competition. there have been efforts, over the last couple of decades, to bring the word unfair out of our statutes. the word unfair is seen as distasteful, so let's pretend it is just not there. let's assume that the ftc act, the sherman act, and the clayton act are all one. as an enforcer, that really were to be. enforcers and regulators substituting their own judgment and supplanting what is actually written in our statute is troubling. we need to fully enforce the laws, as written by congress, in a way that is consistent with what these statutes have set out. economics is a tool. it is a tool that can inform our analysis. but i worry about the tendencies that see us importing words into our statutes, letting those words override what actually is in the statutes. be it welfare, or deficiencies. i heard comments around instability. this has created a regime that has produced uncertainties and unpredictability. from a full set of metrics, i think that is

we want through the ftc act, want to create different statutory schemes, want to create ftc to also be a set of experts who can be, you know, complement to the case by case adjudication that we see. we try to honor that there are 3 different schemes and those have different statutes and so one thing that we have been looking to do with the ftc making sure we are fully faithful. so the ftc act prohibits unfair methods of competition and there's been an effort over the last couple of decades and there's been a sen that the word unfair is distasteful and let's pretend it's not there and let's just assume that the ftc act and the sherman act are basically all in one and the same and as an enforcer that approach worried me. substituting their own judgment and supplanting what is actually written in our statutes. our core principal is that we are fully enforcing the law as written by congress in a way that is consistent that the statute sets out. economics is a tool that can inform our analysis but i do worry about tendency that we seem to import words that are not in our statute and let tho

as the ftc put any weight on that latter argument? cristina: of course. and i think in the announcement yesterday, they emphasize the beginning that these points are well taken. i think humanity, to the extent possible, wants to benefit from this. we are all aware that there are massive investments that want to be put into this, just why these players that are at the forefront of development. that said, we have recent history, which is a history of engaging with these questions. one does not want to prejudge the outcome. one needs to be vigilant because we have spent the last 10 years, certainly in europe, trying to expose the conduct. how many years would it take before anything will move, before anything comes to a court? caroline: to that point, when you look at what is happening in europe, they are actually taking regulatory action that forces a change. will we see companies front run this? cristina: in europe, what you have seen is because antitrust has failed spectacularly so far -- we have been at it for 15 years. it has not moved the dial. there h

ftc is working to understand ai. companies have 45 days to respond to the inquiry and we will tell you more about that. this is bloomberg. ♪ rns. avalarahhh ahhh sonali: this is "bloomberg markets." we are sitting at a session low for the s&p 500. applico doolittle is sure to look at the equity movers. abigail: let's start with the airlines. one thing these islands have in common, profit eats. they have beaten estimates. american airlines bent by 140 percent to put up $.29 per share. revenues were in line. the 2024 profit guide came in above estimates. delta set the tone with guidance that was below so this is quite strong. southwest airlines also beaten a big way, but what is not loved his cost guidance. those shares are down. alaska airlines popping higher by more than 4%. revenues are in line analysts in contrast like the cost control measures. also the fact that they expect to be made whole for the january grounding. one stock going and in the opposite direction is relative to southwest airlines, humana, down 12%

what exactly is worrying the ftc about big tech's alliances here?u: they want to make sure the competitive landscape stays committed to -- competitive, and ties between old guard big tech and these new ai startups. the ftc making it clear that they are closely monitoring the industry in public workshop with the chair saying companies cannot use claims of innovation is cover for lawbreaking. the ftc said it sent subpoenas to five companies together information and what you're looking at is bots for openai, the maker of chatgtp, they are playing video games, part of what generated enormous excitement in the market over the last 14 months. the probe is focusing on investments but microsoft, amazon and alphabets google. the series of transactions that appear to have cemented alliances between the cloud server giants and the eating developers of ai software. microsoft, google, openai and and prop 8, this is an ai firm start up that began in 2021 and was created by a lot of employees who left openai and wanted to start their own firm. so there are concern

>> well, the ftc is going to be interesting, right? because it's not the same as the national security thing. this is about competition question antitrust. so i am going to be curious to see how the ftc goes about this. right now, we don't have a ton of information, but if you think about how the ftc has been trying to nail down a kind of view of what a monopoly is in the 21st century, right? not just that it costs higher prices and stuff, but it actually harms our ability to make choices. right. and big thing being like google is so dominant on the internet that you can't make another choice for a search engine very easily. those are the types of things that i think the ftc is going to be trying to think about. >> all right. ian, shira, as always, you made a complicated topic, easy to understand and perhaps you even gave me a new idea to, you know, do an ai boot camp or something. there you go of journalism. all right. thank you so much. >> absolutely. >> okay. what is the future? we're still talking about the future of downtown san f

punto gob. >> la ftc calcula que gracias a la regla cars, los consumidores podrán ahorrar.ando de, pues meter alguna cláusula que no debería de estar en el contrato que firmamos, de aprovecharse de esa ilusión que tiene al cumplir 1 de esos sueños que puede ser el tener un auto nuevo. >> entonces pues sí, reportarlo va a ser muy importante. sandra porque así frenamos también que sigan engañando otras personas, si es que lo están haciendo. claro que sí. el crimen bajó como 50% en los en los bloques que está. un estudio revela como una intervención innovadora en un vecindario de san francisco aseguran que ha bajado la tasa de criminalidad, sino se han opuesto a este proyecto. >> entre arrestos y disturbios residentes se oponen a la construcción de viviendas en un parque al cual consideran histórico. no creerá lo que las autoridades instalaron para prevenir que la gente se vuelva a instalar en el lugar. con esto y más, regresamos en 90 segundos en la edición de las 18:00 de la tarde aquí en su noticiero telemundo 48. ya regresamos.

what is worrying the ftc about big tech's alliances with ai startups?hey want to make sure the competitive landscape stays competitive. these subpoenas to five different companies are clearly a shot across the bow and ai is in the regulatory spotlight. the chair said these companies cannot use claims of innovation as cover for lawbreaking. company formation probing exactly what the $19 billion in investments by microsoft, amazon and alphabet, google into ai are all about. you're looking at video of openai's bots playing video games. these companies have really gathered a lot of attention. as well as openai which has a relationship with microsoft. the fifth target of the subpoenas is anthropic, that is in ai start of that began in 2021. was put together a many of openai who were dissatisfied at the time. the concern is that some of the most promising ai startups are now depending heavily on the old guard and dominant tech companies for both financing and infrastructure needs. the regulators want to make sure that everything is compliant with the law in t

why is the ftc investigating this? what's gone wrong?uart, the ftc wants to make sure that big tech is not bigfooting innovation or competition in the a.i. space, so the ftc chair, lina khan, saying this in announce her investigation. quote: our study will shed light on whether investments and partnerships pursued by dominant companies risk disporting -- distorting innovation and undermining competition. so companies try to carve out their part, they are now dealing with the ftc knock at their door. investigating microsoft, openai, anthropic and alphabet. the ftc specifically look at their investments and partnerships. microsoft says they think this investigation will prove competition is thriving telling fox fox business in a statement, the u.s. has assumed a global a.i. leadership position because important american companies with working together. partnerships in companies like microsoft and openai are promoting competition and accelerate ising innovation. but some competitors are cheering the investigation because they think it might

>> it looks like the ftc is firing a shot across the bow.companies, mainly big tech. looking at their relationship and investments into ai startups. this was made clear at a public workshop where the ftc share person -- chairperson said that ai companies cannot use claims of innovation as cover for lawbreaking. the ftc said it sent these two pinots to probe the focus, to give them information so they can probe them more than 19 billion in investments by microsoft, amazon and alphabet into a series of transactions that cemented alliances between these cloud server companies and the leading developers of ai software. you are looking at video of bots from openai, the maker of chatgpt. they are playing video games. it's this kind of thing that created enormous excitement 14 months ago in the market. antitrust forces across the world have become concerned that perhaps these major tech giants are funneling billions into these companies. and circumventing according to the ftc concerns, merger laws, which allow them to more formally file how much mo

esta orden de la ftc es muy clara.acer esta declaración de impuestos. y si también hay organizaciones no gubernamentales que se reúnen de pronto un fin de semana y dicen vamos a estar ayudando de manera gratuita a llenar tu declaración de impuestos? >> niello tiene. hay comienza, si es que todavía tiene un par de meses para poder hacer este proceso y que bueno que mencionas, esto de las organizaciones no lucrativas, muchas de ellas ponen un límite de el salario que usted puede ganar si se considera de bajos ingresos, le pueden ayudar con eso. >> así es que acercarse con esas dudas claro que sí. >> hablemos de las 18:06 de la tarde. >> más información local. mire, la vicepresidenta kamala harris llega al este de san josé para hablar sobre la libertad reproductiva

this is ftc chaired lena con has been talking about this stuff forever.out nipping these problems in the bud and making sure the incumbents don't necessarily to maintain their big control over these technologies, but it appears he might be able to do by these big investments they are able to make in these hot startups that are ushering in this next part of ai. its early stages, nothing tangible is going to happen yet, but it is something to watch because it is another example of that heavy-handed ftc looking into just about every tech deal imaginable. >> and others outside of tech, too. that's steve. next we are tracking the biggest movers as we always do heading into the close. >>> investors are not in -- impressed by ai's paypal initiatives. i will explain why after the break. i'm going to sell my life insurance cuz i don't need it anymore. my kids are grown, my wife is great, let's settle up the score. it's time to travel to paree, spend retirement happy. call 877-sell-easy. 877-sell-easy. 877-sell-easy, and sell your policy. you can sell all or part,

the way i look at this issue and the way many tennesseans look at it as this is another way for the ftc, the co tb, dot and other regulators to clamp down on businesses and try to micromanage businesses. are these fees annoying? absolutely. that should companies be more transparent in how they bring these forward? absolutely. they should do that. and consumers themselves should be more willing to walk away and use only businesses that are operating on the up and up and are going to disclose these fees. but you have to remember this. these are not monopolies. these are hotels, airlines, banks, and online retailers. competition matters to these companies. we see this competition making an impact on the marketplace every single day. thank you to our witnesses. i am looking forward to a good and friend discussion today. i appreciate you getting your testimony in in a timely manner. >> thank you senator blackburn. now you can look forward to -- let each of our witnesses do their introductory remarks. let's start with vicki morwitz, a professor of business at columbia business school. you are

the ftc has regulatory authority over ai through section five of the ftc act but cox will also have a role to play in crafting appropriate regulations. unfortunately scammers may pay little attention to regulators to regulators should focus on ensuring consumers can identify and authenticate content. when it comes to protecting seniors from the daunting challenge of ai skanska the time to do the best we can is now. >> thank you mr. weisman. dr. ekin. did i pronounce it correctly? >> you did. thank you, chairman casey, and ranking member braun. today it's alarming -- increasing losses to scams among older americans. accounting billions of dollars in the past you. i am tahir ekin, professor at texas state university. my research dais into the critical intersection of ai and fraud detection. i'm honored to testify on this urgent matter today. -- older americans at alarming rate. despite improved awareness and educational campaigns, both the losses and the number of victims has surged. this prompts the question, are scammers becoming more sophisticated, or our response is liking? the real

méndez explica que gracias a las denuncias de la gente, la ftc ha podido sancionar a algunas compañíasde la compañía junto a la palabra scam review o lea la letra pequeña. algunos sitios tienen notas pidiéndole la autorización para recolectar y vender su información. conozca sus derechos una llamada robotizada que intente venderle algo sigue siendo ilegal. si la compañía no tiene su permiso por escrito para contactarlo de esa forma. y muy importante, reporte las llamadas ilegales. recuerde que eso es lo que ayuda a los investigadores a detener el problema. puede hacerlo en el sitio do not call punto gov. las autoridades federales siguen ideando nuevas estrategias para poner un alto a este tipo de intrusiones y amenazas a la seguridad del consumidor, pero requieren de la ayuda del público para darle seguimiento. así que todos tenemos que hacer nuestra parte. les informó arlyn fernández. bueno, y también un buen aliado. >> pueden ser los teléfonos inteligentes, cierto? tienen, puede decirte a colocar algo y decir bueno, avísame de números que pueden llegar a ser los conocidos spam no? >>

. >>> and ftc chair lina khan will join us on.good morning, wall street awaiting earnings from big tech names and a decision by the fed on interest rates, what investors need to know ahead of the big news. >>> gop presidential candidate nikki haley is vowing to stay in the republican presidential primary race at least through super tuesday. she will join us live with her plan to beat former president trump. >>> plus, an exclusive interview with ftc chair lina khan on the inquiry of deals between big tech firms and ai companies. you can think of a few that come to mind. the second hour of "squawk box" begins right now. ♪ >>> good morning, welcome back to "squawk box" right here on cnbc. we're live at the nasdaq market site in times square. i'm andrew ross sorkin along with becky quick. joe is off this morning. the s&p up marginally, a little over a point. nasdaq up about 30 points this morning. also show you treasuries, show you where the ten-year and the two th two-year stand, just at about 4.330. a developing story this morning,

united states we haven't done this i jokingly suggested maybe just type in chatgpt, more than u.s., ftcustrating even i guess yesterday there is a court hearing in coinbase, the judicial system continues to slap down, overreaching, reason lost against ripple the reason they were dragged kicking and screaming to have etf, i think gensler has been been active, active on his agenda not people's agenda. >> i wish i had a clear answer to that i think technologies have ever to stay it is a indicationing frustrating spending so much time judicial process to get clarity we could do that as many other countries like japan ukk uae switzerland landed have ever not small economies doing the work to provider clarity u.s. i think a political agenda not a policy agenda. maria: from one studied as many years as up of, what would be the proper frameworkology regulatory environment that needs to be in place. number one thing not about, regulating technologies it is regulating outcomes activity because new technologies we should still care about things like kyc, know your customer about antimoneyy launder

the ftc has opened public comment on the proposal through february second. a link to the ftc submission form on our website ktvu.com search for that under web links. calling all fans of taco bell, you can now buy meal kits to make your own versions of your favorite meals at home. taco bell selling meal kits at walmart to make crunchwrap supremes and chipotle chicken quesadillas at home. each of those kits will cost you about $7. they come with taco bell seasonings, sauces, and each respective ingredient for fans to be able to recreate the meals. dave, i know you love this. >> oh, i can do that. the partnership stemmed from the rise in popularity of tiktok users that would make the crunchwrap supreme on social media on their own. all right, james, time 750. tonight, the warriors will host the detroit pistons, who have the nba's worst record this season. the warriors are trying to shake off last night's loss to the denver nuggets after blowing an 18 point lead. and then they lost 130 to 127. now steph curry had a team high 30 points, but he turned the ball ove

the ftc ultimately failed to reach a settlement to let the deal go through. the second largest healthcare deal since biden was sworn in. the biggest deal was biden's deal for the cancer portfolio. a lot of people thought that would get blocked but it passed last month. maybe just the anger toward corporate america here. i think that these transactions, we have a blitz of takeovers. . they have two. they recently approved ovarian cancer. on december 6 we learned that they are buying see ravel therapeutics. starting with parkinson's that is very hard to beat. we just got a market for why they are so desperate to snap that up. pharmacy benefits manager is adopting the bio similars. that includes the preferred drugs for reimbursement. they are the best in history but last year he came off then. he is not just happy. they announced a deal for karma therapeutics which is a privately held biotech for $2.7 billion. even though lead drug candidates are only and phase 2 trials they are willing to pay for these guys because they are working on their own weight loss drug

the cii looks forward to work in corporately with the ftc and financial services and capital markets subcommittee and other agency parties to further improve the corporate u.s. public space. thank you for inviting me to this thing and not be pleasant place to answer any questions. >> and cupid will now turn to member questions and i recognize myself for five minutes. ms. blass i'm concerned about the predictive data analytics rule and the negative effects it will have on innovation and retail investors. the scope of the proposal a coup is extremely broad and could be applied to virtually any technology used by broker-dealers and investment advisers. can you discuss the impact the proposal will have on innovation in retail participation. >> thank you chairman weidenbener. i think we can all agree that the ai is something that we should be looking at. if you things. number one there's no explanation on the part of the commission as to why the current regulatory environment does not address the conflict with the use of ai. this proposal is not limited to the use of ai. it covers analysi

a judge basically said, ftc, it's time that maybe you thought about how to do your job. really have a clue. i'm really shocked you brought this case. a lot of times, david, that's a suboptimal way to look at the ftc's work. >> yes, without a doubt. that could be considered a blow. we don't know what the administration is going to run antitrust -- what's called a little more than a year from now. so that comes into consideration as well for a number of companies. carl, back to your question overall, we're waiting to see some of these big deals that have been reported on, but it certainly does feel like we're going to see things in a more prevalent manner. >> it will be fun to watch when it hams. by the way, broad-based selling this morning. health care the only s&p sector that's eking out a gain. we did have samsung, jim -- down 35. that's six straight quarters of declines, worst in 15 years, along with microchip guidance. what do you think is going on there? >> i think there's two worlds going on. let's not look at the near term. carl, yesterday was a big look at the fut

the ftc has regulated authority over a.i. through section 5, but congress will also have a role to play in crafting appropriate regulations. unfortunately scammers may pay little attention to regulators so regulators should focus on ensuring consumers can identify and authenticate content. when it comes to protecting seniors, the time to do the best we can is right now.>> thank you mr. wiseman. dr. ekin . >> thank you chairman casey , today as we are looking at this alarming technology, accounting to billions of dollars in the past year, i'm a professor at the college of business at texas state university, my research looks at the critical section of a.i. and fraud detection. i wanted to testify on this urgent matter today. it can affect older americans at alarming rates, despite educational campaigns both to the losses and number of victims. this prompts the question, are the scammers becoming more sophisticated? a.i. amplifies the impact of scams and has the ability to emotionally appeal to a vulnerable person. it uses urge

the ftc is going to look into that cramer says he can't stop the auto i know how to stop the auto. >>about the gatorade keeps coming >> i don't want her to come after me come after jassy i know how to stop the auto. i can stop auto. >> just showing how your mind works. >> well, i can stop auto i didn't mean that ftc, don't blame me. >>> meanwhile, the dow, definitely benefitting from amex, up 7% here, up 50 points check bonds as well. pending homes, going to be the last bit of data we get this week before we roll into next week and get some confidence data, the fed decision, the jobs number we'll be right back. >>> you're looking for week to date s&p gainers, it's all about the consumer netflix is going to lead you, america is in there, united, amex and discover where we got spending numbers today the spending number coming in 0.7 and looking for only 0.5 we'll get stop trading with jim in just a moment ndustries. powering innovation with access to capital. powering critical decisions with precise data and insights. powering seamless execution in evolving markets. we deliver our entir

justice is a little more savvy than the ftc, which is a little more naive. who runs justice is a heavy hitter, paul weiss. the person who runs the ftc is a great student. even professed to be a studying, a student. >> yes. lina khan was on "squawk" this morning, sort of outlining or framing their look into a.i.-related -- >> look, i don't think there's anything wrong with making sure there's guardrails. i think jensen huang from nvidia would say that. i do think that the difference -- when you have someone like lina khan at the ftc, you should be thinking about the way the president decided, you know what, we're going to -- debra granholm -- we're going to pause. i think a lot of america is like, wow, okay. >> do you not have questions about microsoft openai and what the relationship is is there? >> i think that they are all going to try to bring down price for us just like they did with amazon web services. i care about price. azure, amazon web services, they have cut the price. i think the average citizen is going to be able to get a.i. because of the comp

maria: i feel like that's been the one barrier you can look at a lot of deal flow and the ftc does nott is the rub. >> you see large-cap tech has been very, very cautious for the obvious reasons and on the other hand, healthcare has done a number of transactions because most of these are in adjacencies, new areas so there's limited area for the ftc to look at energy in some level of new activity especially in green energy. i think sectors that are going to avoid having huge regulatory scrutiny you will see the most amount of activity come forward. maria: tell me your take on the fed, weight is the fed fitted, a lot of people say 11 rate hikes tested still not been priced in, begin to see the impact in the coming months, look at where the tenure is worth looking at the first monetary policy meeting in 2024, the end of the month and this morning the tenure is up six and how basis points sitting right at 4.00%, the journal is writing that the fed is tiptoeing toward dialing back on monetary tightening, how do you see it. >> chairman powell needs to be careful that he doesn't dial back to

after the federal trade commission ruled against the company in a privacy case next year writing that ftcstablishes that businesses cannot use hard-to-find and hard to understand disclosures and perform checkboxes to fabricate consent. ring does partner with 2500 law enforcement agencies across the country creating a wide network of surveillance cameras. in san francisco a unique approach to fighting crime as a family-owned business was hit by thieves, the community rallies with a sweet shoulder sword, sweet mango dessert and cafe has been broken into over and over again. recently in november so last night to try to help get on their feet, the nonprofit in the community organized a bike back, a gathering of people from around the city that encourages them to stop by and support the business. >> we started this program late last year. it was in response to the ongoing vandalism that asian american businesses were suffering. >> he really appreciates are showing up. he thinks it is really heartwarming and he believes if we keep showing up public safety will get better. >> a lot of good work

julia, what do we know about what i'm reading here about the ftc apparently going to scrutinize theseig tech ai deals a little more closely? >> that's exactly right. ftc chair lina khan announcing she's launching a market inquiry to the investments and partnerships formed between ai developers and the cloud service providers. we have to note this is not an investigation. this is a study or a market inquiry that could then be used potentially as a grounds for future investigations, but not currently an investigation this names microsoft, amazon and alphabet, those are the three public companies with a big presence in the ai space that are named in this. and in terms of the private companies, openai and anthropic are the two key companies in focus here cnbc has reached out to all the companies. we have not heard back yet i want to flag, scott, her focus is on the business incentives that this ai and generative ai industry is creating particularly in relationship between the cloud providers and the ai companies and lina khan made the comparison to socia media in terms of user data. certa

. >> are you getting a sense o why it's a concern for the ftc that there were thes investments made >the door from the mega caps, they go to and anthropic aroun openai, and at the same time these big deals, multibillio dollar deals, are signs that that money will come back in so, when opening i need to compute power to then go awa and build these large language models, that goes back t microsoft. microsoft gets billions of dollars there really could b antitrust issues here, if yo are creating a system that there is no competition fo that cloud business. >> exactly and you're creating the winner here a 13 billion dollar investment from microsoft gives openai very good chance to compete. in addition to, you know microsoft enterprise customers so, what the ftc may b concerned about, and by the way, european regulators are lookin into this as well. are they sort of changing th competitive landscape by picking and choosing the winners themselves >> let me make sure i' understanding this the quote investment tha microsoft is making in company x comes back to it in the form of credit for ser

. >> to have been the megadeal because ftc is going to clampdown and a lot of deals out there, acrosso have the office exposure that are fighting online bank deposit machines were crushing them in their net interest margin profitability, that's going to show up when rates were 0, online banks were not competing for deposit as effectively but when people get three, four, 5% they take their money out of banks and that could hurt profitability. maria: a great point about the ftc you see the carpet under capital market activity but they're not could allow antitrust potential issues to happen. the go to clampdown, great point. monica we gotta get your take on the piquant story. bitcoin traded up yesterday because we had security and exchange commission tweet that the bitcoin etf was about to get approved. it was compromised in fact. it was a false announcement out about approving the etf retreating and now we see bitcoin trading down the securities and exchange said the encounter was hacked. >> when dana made the announcement the initial response was come on, these mistakes don't really ha

the ftc also says intuit must also disclose if a majority of taxpayers do not qualify.ain view based intuit says it has appealed the decision, calling it deeply flawed. on wall street today, stocks closed mixed as traders eye a growing number of corporate earnings reports. the dow, coming off a record finish yesterday day closed down today 96 points. now nasdaq was up 65. and the s&p finished the day up 14. >> coming up on ktvu news at 630. we're staying on top of the new hampshire primary. the indications that we're getting about a possible record for turnout also had the newest report on crime in san francisco indicates promising new data, the emerging trends that show the city is becoming a safer place. and stephen curry gives his take on the warriors frame of mind as they get ready to play their first game since the tragic death of assistant coach dejan milojevic. joe fonzi has steph curry's thoughts tonight in sports in order for small businesses to thrive, they need to be smart, efficient, savvy. making the most of every opportunity. that's why comcast business is

and new this morning, the ftc says that tax software company turbotax engaged in deceptive marketing by advertising, free access to the services and most customers didn't qualify. they got me one time on this. it said, fred, i was like great minutes at know you have to pay. and this is months after turbotax or to pay a settlement to customers in new york, specifically, the ftc has issued a ban related to the company's marketing. they're no longer allowed to average eyes free tax preparation services. the initial decision came in last september. the company lost its appeal. so now it will. i mean, it just won't stay free right now is like free. and then you click, click, click. and then they say, well, actually, you have to pay you already putting all your numbers. yeah, yeah, anyway. so they're just trying to make it easier for, you know what you get or don't get for free and the irs, the struggling to figure out which recent tax filings are true or false claims. according to the wall street journal, they did report they say the irs is swamped with 1 million tax return request from e

company misled consumers by running ads for free services that many consumers are not qualified for an ftcministrative judge issued the initial decision last september. the commission upheld that decision yesterday into it says they have already appealed the ruling to a federal circuit court outside of the ftc. >> time now 7.26. and new this morning. there's a new report that reveals half of california is under the age of 24 are latino. the public policy institute of california says in 2022 52% of people under the age of 18 and 50% of adults. 18 to 24 are latino, which is a jump from the older generations. also, 52% of californians 65 and older are white wears only 21% are latino and we have double the national average of immigrant residents here in california. 27% of californians are foreign born and 46% of children in california have at least one immigrant parent. it's 7.27. and coming up next on the kron, 4 morning news. >> officials in the south bay have voted to close the street in san jose for good traffic will tell you what it's going to green room for and how it'll affect business.

so the ftc chair is basically going to have a really strong look and extensive study no the biggest players talking about amazon, alphabet, and of course open a.i. there is no a.i.-exemption from the laws on the book, and we're going to have a close look at the companies and how they're using their power. not o so good news for activisi blizzard there is going to be cost cutting. i'm afraid microsoft will be cutting 1900 employees out of a total 22,000 in their gaming un unit >> steve, thank you. >>> wall street is on track for another winning week fueled by new data underscoring the strength of the u.s. economy stocks surged with the s&p closing at a record high senior business correspondent kristine romans has the story. >> reporter: at this commercial glass factory in bensalem, pennsylvania, owner joshburg says the much-forecast recession never happened you grew your workforce and grew your top line and bottom line numbers in a year we expected a recession? >> that's correct. as counter intuitive as that may seem >> work happening on factory floors like this one has kept the u.s. economy

i think the risks, carl, to your point is still there, both ftc and doj for many deals that would notave been considered high risk, but as i've said a number of times, that seems to be fading as the key consideration for those who are considering a deal we're back to sort of the basics of, can we agree on social issues and price and get this thing to the finish line i don't want to say in any way that regulatory risk is not significant, but ceos seem much more determined now. >> yeah, well, bob, who i spoke to last week, the ceo of amgen, and they're merging with horizon. horizon had great drugs but not a lot of distribution. amgen has terrific distribution, a lot of money to make more, and they went in front of the ftc, and the ftc was against the deal, and they listened to bradway, and they decided, hey, he's right, we're going to go with the deal. that was the beginning of the floodgate. if you approach them with a reasonable proposition -- >> that said, we've got a couple out there still. amazon and irobot. the eu doesn't like it i don't think amazon likes it either >> they're goi

to see capital markets aingtivity come back, maybe m&a picks up in 2024, and i say to you not if the ftc with it, okay? if because the government right now, as you know, is becoming really heavyhanded when it comes to lots of deal flow. am i wrong? >> no, you're spot on. maria: yeah. >> if you look at what the bank stocks did when trump first won, it was one of the best months in the history of the banking industry because the stocks just went straight up. everybody said, okay, regulation, you know, is going to be better, m and ark's going to happen, dealings are going to get approved. maria: that's right. >> yeah. it is a political statement but with, you know, at the end of the day, if you do need to have consolidation and i'm getting all the good reasons as to why. these small banks are, you know, hot dogs and apple pie and, you know, they are small town america. you need to let these companies thrive and compete. if they're competing against jpmorgan, how are they going to do that? maria: and how are they doing to do that when you've got regulations that in some cases are just a brus

the ftc has basically written those letters for you. click these qr codes to follow the templates. once you send your letters, the credit bureaus have 30 days to investigate. >> if it is found in your favor that it truly is a mistake, the credit reporting agency has to fix the error. then they have to report to the other two. all three of your credit reports will be in line. >> reporter: do not ignore any errors. even the smallest ones can drag down your score or be a sign that someone has stolen your identity and is impersonating you. >> that was good information. thank you. >>> what was that thing in the sky today? >> everybody was smiling. >> i was staring out the window for quite a while today. it has been over a week since we have seen this much sunshine across the bay area. hopefully you got outside to enjoy it because tomorrow will not look nearly the same. let me show you why. we are tracking this area of high pressure. overall this will give us this double of drying for much of california. here is the thing. the an atmospheric river is just off to the north with flooding r

just last year the ftc banned rite aid from using it after wrongfully accusing shoppers of stealing. new california legislation introduced right now that limit how fast your car can go above the legal speed limit. the proposal comes as the state and the nation is facing a surge in traffic deaths. a recent report shows between 2019 and 2022, traffic deaths increased by 22% in california and 19% overall in the u.s. state senator scott wiener introduced a pair of bills. one of which that will require all new cars sold in california to have smart devices that automatically limit the car's speed to 10 miles an hour above the speed limit. >> we know there are steps we can take to make our streets safer so that we have fewer deaths, fewer injuries. it is about team, it is about our parents, our children, our siblings, our partners, our friends. >> the legislation would require action from caltrans, the agencies would be required to improve pedestrian safety and crosswalks. >>> let's go to paul heggen and the warm up for that special game. >> it will feel like the spring. it is still a damp

relacionado con códigos qr, es importante que lo reporten a la comisión federal de comercio en reporte fraude ftcdel norte de california. pues enfriar un poco el cerebro porque ya lo van a tener que utilizar bastante los niños, pero que nos vamos tan lejos. >> y es verdad, aquí en el valle central o tantito una o 2 horas de aquí ya estamos con las montañitas nevadas, si, o un poquito más lejecitos ahí en la sierra nevada que les cayó bastante nieve y están aprovechando estas condiciones allá. >> y para comenzar a entrenar en las madrugadas, aquí se pueden levantar a eso de las 07:00 y jugar con la escarcha que se ha masoquismo. hace mucho frío en el carro. >> bueno, hablemos de las 6, claro que sí. >> más información local. mira, investigan espectáculo ilegal de automóviles en antioch hablamos con residentes que nos cuentan qué fue lo que vieron. >> nos afecta. no vamos a tener que ir a vivir a un lugar más apretado. >> el dueño de un viñedo en saratoga asegura que el condado santa clara lo está multando por dejar que 1 de sus empleados viva en su propiedad. por esto y más. lo esperamos en 90 seg

según la comisión federal de comercio o ftc, si llama al número, podría escuchar a un estafador decirlos datos o, eh, hacerle. >> o sea, bloquear que usted tenga acceso a toda su información en algunos casos podrían pedirle un rescate para recuperar el acceso a su computadora. el consejo principal es que no se pague ese por ese, porque realmente no se puede confiar que le van a dar sus datos de vuelta. >> el fbi describe otra modalidad de estafa vectors are led to believe. el agente especial patrick duffy dice que engañan a la víctima haciéndole creer que alguien está tratando de obtener acceso a sus cuentas financieras. dice que puede ser una llamada. un mensaje de texto o un mensaje en su computadora fingiendo ser de ayuda técnica. >> we don't we take your money. >> Él explica que le piden a la víctima que mueva su dinero a una nueva cuenta, pero que es controlada por el estafador y le indican que haga una transferencia a través de una aplicación a lo que sería una cuenta supuestamente más segura. podrían incluir supuestos. representa de un banco o del gobierno para darle más credib

and investments made by some of the biggest tech companies and artificial intelligence startups, the ftc said today that orders were sent to companies involved in three separate multi-billion dollar investments, including microsoft and openai, amazon and anthropic, and google and anthropic agency officials say the purpose is to better understand of these relationships and their impact on competition. >> after years of pressure from parents, the san francisco unified school district is revamping its algebra one policy next month. under the current policy, students are not able to take algebra one until high school. the district is now taking feedback on three possible options the first would give eighth graders a choice between algebra one or eighth grade math, the second offers algebra one as an elective during or before school, and the third would be to offer algebra one as a summer intensive course . that policy is set to be finalized by the school board on february 13th. well oakland a's owner john fisher offered very little new information about his team's relocation plans during a t

he's calling for federal regulation from the fda and ftc.calls these nicotine pouches a dangerous alternative for e-cigarettes, claiming they're heavily marketed to teens on social media. some gop lawmakers have rallied against senator schumer online and in the press. the parent company of zyn responded to schumer saying, quote, it meets and exceeds the industry regulations. >> sometimes one plus one equals a lot more than two. that's certainly what the ceos of two distinguished and respected organizations in san francisco believe, as they now come together as one. the commonwealth club, of which i'm a long time board member and world affairs are joining forces on climate change at. the commonwealth club. tonight. the program these people are enjoying is a celebration of chinese culture and cuisine. for 120 years, the commonwealth club has brought enlightened discussion of ideas, issues and events to the bay area and the world since 1947, world affairs has also been a beacon for educational programs featuring thought leaders from various wal

we need companies to register with the ftc, with the irs. we need oversight by the fed, oversight by all the regulatory organizations. the second thing, i've also heard of scams where seniors are being asked to send money urgently because there is some bank account problem, and there asked to send it to a cryptocurrency atm. even the low-tech version of fraud is being used to mislead seniors into thinking that that is a way to fix a banking problem. i lead a bill, senior financial empowerment act, which would ensure older adults and their caregivers have access to critical information regarding how to report and combat fraud. how would consumer education have helped in this situation? and thank you for sharing your experience. you mentioned you were asked to wire funds. how can crypto be used as a tool for scammers? and what do you believe could be done with consumer education to prevent those types of scams? >> i was a big fan of your bill, particularly the areas of consumer education, which are so critical, but the scammers create an emerg

i think the combination of the federal be down by the judge who pranced the ftc, were trying to lock up the homeless guys. they were look at the other engine. you have a bad quarter. we are looking at how many have to start. we have an opportunity right here. we knew that every deal would be followed by the regulars. this would be huge in 2024. we need to think about how forward this deal is. we could have six rate cuts this year. somehow i am finding themselves in the super bowl. they got beat by the buccaneers the other day. they are not done. a lot more things will be here as the road goes on. right now, unless you are in the round, it is going to be a wild year, with a lot of money to be made. we have formally beloved stocks, doing indeed numbers. >> hello, thanks for taking my call. how are you today? >> i'm good, how are you? >> i'm good. quick shout out to my doctor. i have a quick lesson about snowflakes. i have been in washington for some time. what are your thoughts? should i buy? >> this is a great question. this incredible man has a product that has you renting snow. see

he's calling for federal regulation from the fda and ftc. he calls these nicotine pouches a dangerous alternative for e-cigarettes, claiming they're heavily marketed to teens on social media. some gop lawmakers have rallied against senator schumer online and in the press. the parent company of zyn responded to schumer saying, quote, it meets and exceeds the industry regulations. >> sometimes one plus one equals a lot more than two. that's certainly what the ceos of two distinguished and respected organizations in san francisco believe, as they now come together as one. the commonwealth club, of which i'm a long time board member and world affairs are joining forces on climate change at. the commonwealth club. tonight. the program these people are enjoying is a celebration of chinese culture and cuisine. for 120 years, the commonwealth club has brought enlightened discussion of ideas, issues and events to the bay area and the world since 1947, world affairs has also been a beacon for educational programs featuring thought leaders from various

the ftc said today.sent to companies involved in three separate multibillion dollar investments, including microsoft and openai, amazon, anthropic and google. agency officials say the goal of their investigation is to find out if those partnerships stifled competition. one of california's top financial experts predicts 2024 will be another year of economic growth and low unemployment in sonoma county, a ucla economist made that prediction at a conference at sonoma state university this week. the economist says nearly all sectors of sonoma county's economy grew last year, led by big job gains in hospitality, construction and health care, he adds. all signs point to another strong 12 months of growth in that county this year, san francisco based levi strauss announced it is laying off 10 to 15% of its global corporate workforce. the clothing retailer made the announcement as it reported fourth quarter earnings and predicted a weaker than expected fiscal year ahead. the company says the job cuts will take p

caroline: you think the ftc will go with that? is hard -- ophelia: it is hard to say at this stage. it is going to come down how the arguments in favor play into that. we are optimistic about it and looking forward to engaging with regulators. it is ushering in a new age of clarity which we have seen in other markets about what these regulations look like and what that means for the development of crypto markets. there is typically a process where once things start moving it becomes easier to have the ongoing dialogue. ed: there is a lot of data at our disposal to judge how this is going. across the 10 etf that are out in the market, they attracted $1 billion. to me, that does not seem that much after all the hype of recent months and all the investors around the world that said we are looking at it. is $1 billion a lot? what does it tell you about current demand or appetite? ophelia: what it tells me is it is very early. one of the pieces that is often missing around these etf's is there is any adoption cycle. just because a prod