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In other news, the Justice Department is investigating Zoom’s $15 billion deal to buy Five9, citing potential risks to national security. (Propping up the industry with more than $50 billion in grants was itself contentious.)

“Neither airline is failing they received billions of dollars in subsidies from American taxpayers over the course of the pandemic,” the charge noted, underlining that playing the failing-firm card would not lower the antitrust standards set by the White House. The airline industry’s troubles during the pandemic, which crushed carriers’ revenue, didn’t appear to factor into the decision to sue. It’s the latest effort by the Biden administration to limit corporate power through antitrust actions. The airlines said they planned to fight the suit in court. Attorneys general in six states and the District of Columbia joined the action. In bringing the suit, officials called the cooperation a “de facto merger” between the carriers in the New York and Boston markets. The Justice Department filed an antitrust lawsuit yesterday against American Airlines and JetBlue, arguing that a growing alliance between the two carriers hurts consumers. takes aim at “de facto merger” of airlines The Fed chair, Jay Powell, is also likely to face questions about the personal stock and bond trading of top central bank officials, after calling for a review of those trades last week. central bank, which wraps up its latest policy meeting today, is expected to signal that it will soon slow its bond-buying program, a first step in reducing its emergency pandemic support. Hedge funds have been buying Evergrande’s bonds and hiring advisers in an attempt to make money off the company’s potential collapse. Government funding lapses next week, and the Treasury Department could reach the limits of its borrowing authority next month.Ĭhina’s Evergrande says it can repay at least some of its debts, noting in a filing today that a $36 million interest payment due this week was “ settled through negotiations.” But the cash-crunched property developer, which owes creditors $300 billion, could miss other payments this week, with prospects for a bailout unclear. The measure now heads to the Senate, where Republicans have warned they will block any increase to the debt ceiling. The legislation would lift the federal debt limit until the end of 2022, fund the government through early December and provide money for Afghan refugees and natural disaster recovery. The House approves a bill raising the debt limit. “They’re realizing that no one else is going to come to their defense, so they need to do it and say it themselves,” said Katie Harbath, a former Facebook public policy director.

Capitol had little to do with Facebook and that misinformation on the platform was not the reason for missed vaccination goals. Its executives have said, for example, that the storming of the U.S. A Facebook spokesman said that Project Amplify was “similar to corporate responsibility initiatives people see in other technology and consumer products.”įacebook has also cut back on apologies in recent months. These articles, like one about “Facebook’s Latest Innovations for 2021,” are displayed with a Facebook logo and in some cases written by Facebook itself. One of the most visible actions is code-named “Project Amplify.” The initiative promotes positive stories about Facebook on users’ feeds. This is part of a multipronged effort to change the narrative about the company by distancing the founder Mark Zuckerberg from scandals, reducing outsiders’ access to internal data, burying a potentially negative report about its content and increasing its own advertising to showcase its brand.

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That has included using its own powerful information-spreading algorithms to respond to criticism, The Times’s Ryan Mac and Sheera Frenkel report. In January, though, the company’s executives decided to be more aggressive. Its playbook, no matter the perceived misstep, has remained relatively consistent: Apologize and promise to do better. Whether on privacy, misinformation, hate speech or changes to its News Feed, Facebook has been embroiled in controversy for most of its existence.

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