Amazon is trying to soften its image as regulatory scrutiny of Big Tech grows

But rather than fiercely fighting every battle, Amazon looks like its ready to play nice. In March, Amazon dropped a policy that prevented merchants from offering lower prices on other websites following an investigation request by Sen. Richard Blumenthal (D-Conn.). Last month, the company scaled back some of its most aggressive promotion tactics after Sen. Elizabeth Warren (D-Mass.) And late last year Amazon raised its minimum wage to $15 following criticism of the company’s working conditions


But rather than fiercely fighting every battle, Amazon looks like its ready to play nice. In March, Amazon dropped a policy that prevented merchants from offering lower prices on other websites following an investigation request by Sen. Richard Blumenthal (D-Conn.). Last month, the company scaled back some of its most aggressive promotion tactics after Sen. Elizabeth Warren (D-Mass.) And late last year Amazon raised its minimum wage to $15 following criticism of the company’s working conditions
Amazon is trying to soften its image as regulatory scrutiny of Big Tech grows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: eugene kim, brent lewis, denver post, getty images, david ryder
Keywords: news, cnbc, companies, big, growing, tech, soften, sen, stores, scrutiny, amazon, trying, business, winatallcost, regulatory, image, following, working, looks, grows, company


Amazon is trying to soften its image as regulatory scrutiny of Big Tech grows

Amazon’s relentless pursuit of growth in retail, cloud computing, advertising and consumer devices has put the company squarely in the sights of Washington lawmakers who are concerned about Big Tech’s growing influence over consumers. But rather than fiercely fighting every battle, Amazon looks like its ready to play nice.

In March, Amazon dropped a policy that prevented merchants from offering lower prices on other websites following an investigation request by Sen. Richard Blumenthal (D-Conn.). Last month, the company scaled back some of its most aggressive promotion tactics after Sen. Elizabeth Warren (D-Mass.) called out abusive business practices. And late last year Amazon raised its minimum wage to $15 following criticism of the company’s working conditions by Sen. Bernie Sanders (D-VT).

Amazon also confirmed to CNBC that it would soon start accepting cash at the Amazon Go cashierless stores as a growing number of cities and states push for laws that require all stores to serve the unbanked. It’s all part of a strategy to be more likable at a time when tech companies are drawing heat for behavior that looks increasingly anti-competitive.

“I believe Amazon has made the connection between likability and immunity from regulation,” said NYU business professor Scott Galloway, author of “The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google.”

This is a different company from the vigorously defensive, win-at-all-cost Amazon we’re used to seeing.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: eugene kim, brent lewis, denver post, getty images, david ryder
Keywords: news, cnbc, companies, big, growing, tech, soften, sen, stores, scrutiny, amazon, trying, business, winatallcost, regulatory, image, following, working, looks, grows, company


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Facebook rejects Australian regulator’s push for scrutiny of news feeds

Facebook has rejected an Australian regulator’s recommendation for greater scrutiny over the social network’s advertising market power and the ranking of news articles in customers’ feeds. “People, not regulators, should decide what they see in their news feeds,” Facebook said in a 76-page submission in reply dated March 3 and emailed to Reuters on Wednesday. “Creating a news ranking regulator for Facebook is not a proportionate regulatory solution that will be effective to address the longstand


Facebook has rejected an Australian regulator’s recommendation for greater scrutiny over the social network’s advertising market power and the ranking of news articles in customers’ feeds. “People, not regulators, should decide what they see in their news feeds,” Facebook said in a 76-page submission in reply dated March 3 and emailed to Reuters on Wednesday. “Creating a news ranking regulator for Facebook is not a proportionate regulatory solution that will be effective to address the longstand
Facebook rejects Australian regulator’s push for scrutiny of news feeds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: chesnot, getty images
Keywords: news, cnbc, companies, feeds, push, regulator, regulators, companies, publishers, rejects, accc, ranking, seek, facebook, technology, australian, scrutiny, competition


Facebook rejects Australian regulator's push for scrutiny of news feeds

Facebook has rejected an Australian regulator’s recommendation for greater scrutiny over the social network’s advertising market power and the ranking of news articles in customers’ feeds.

The proposal by the Australian Competition and Consumer Commission (ACCC) in December, along with a new regulator to police technology giants, is being watched closely in other countries as governments seek to check their power.

“People, not regulators, should decide what they see in their news feeds,” Facebook said in a 76-page submission in reply dated March 3 and emailed to Reuters on Wednesday.

“Creating a news ranking regulator for Facebook is not a proportionate regulatory solution that will be effective to address the longstanding monetisation challenges facing some Australian publishers,” Facebook said.

It said the commission underestimated the level of competition in online advertising markets in Australia, and was mistaken in its belief that Facebook’s aggregation and analysis of users’ data made it powerful.

Facebook’s response follows a similar rebuttal from Alphabet Inc’s Google as the companies seek to head off a crackdown that could form a template for curtailing their growing influence in public life around the world.

The ACCC had said the enormous market power of firms such as Google, which has a 94 percent share of web searches in Australia, and their opaque methods for ranking advertisements, gave them the ability and incentive to favor their businesses over advertisers.

In its preliminary recommendations that are subject to change, the ACCC said the new regulator should have powers to investigate how the companies rank advertisements and news articles.

That was welcomed by NewsMediaWorks, a group representing Australian news publishers, which said that online platforms unfairly profit from distributing their stories. Facebook suggested its opponents feared competition.

“The preliminary report’s near-exclusive focus on protecting certain publishers from disruption and competition is at odds with the ACCC’s mandate to promote competition,” Facebook said.

Australia, which has passed laws forcing technology companies to help police access user data amid growing concerns about the distribution of so-called “fake news,” ordered the ACCC inquiry as part of wider media reforms in 2017.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: chesnot, getty images
Keywords: news, cnbc, companies, feeds, push, regulator, regulators, companies, publishers, rejects, accc, ranking, seek, facebook, technology, australian, scrutiny, competition


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Global scrutiny could be huge threat to Facebook

Global scrutiny could be huge threat to Facebook3:12 PM ET Tue, 19 Feb 2019CNBC’s “Power Lunch” team is joined by Tony Romm, technology policy reporter for the Washington Post, and Kevin Delaney, editor-in-chief and co-CEO of Quartz, to break down why the United Kingdom is calling Facebook a “digital gangster.”


Global scrutiny could be huge threat to Facebook3:12 PM ET Tue, 19 Feb 2019CNBC’s “Power Lunch” team is joined by Tony Romm, technology policy reporter for the Washington Post, and Kevin Delaney, editor-in-chief and co-CEO of Quartz, to break down why the United Kingdom is calling Facebook a “digital gangster.”
Global scrutiny could be huge threat to Facebook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19
Keywords: news, cnbc, companies, tony, huge, scrutiny, technology, threat, united, washington, team, facebook, reporter, romm, quartz, global


Global scrutiny could be huge threat to Facebook

Global scrutiny could be huge threat to Facebook

3:12 PM ET Tue, 19 Feb 2019

CNBC’s “Power Lunch” team is joined by Tony Romm, technology policy reporter for the Washington Post, and Kevin Delaney, editor-in-chief and co-CEO of Quartz, to break down why the United Kingdom is calling Facebook a “digital gangster.”


Company: cnbc, Activity: cnbc, Date: 2019-02-19
Keywords: news, cnbc, companies, tony, huge, scrutiny, technology, threat, united, washington, team, facebook, reporter, romm, quartz, global


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Maxine Waters says BB&T and SunTrust merger deserves serious scrutiny

Waters attributed the deal in part to a law passed last year that eased some bank rules implemented in the wake of the 2008 financial crisis. She argued that “this proposed merger between SunTrust and BB&T is a direct consequence of the deregulatory agenda that [President Donald] Trump and Congressional Republicans have advanced.” Waters “asking so many questions that it slows the evaluation of the deal” poses a risk to it going through quickly, he wrote. Waters, a vocal critic of big banks, too


Waters attributed the deal in part to a law passed last year that eased some bank rules implemented in the wake of the 2008 financial crisis. She argued that “this proposed merger between SunTrust and BB&T is a direct consequence of the deregulatory agenda that [President Donald] Trump and Congressional Republicans have advanced.” Waters “asking so many questions that it slows the evaluation of the deal” poses a risk to it going through quickly, he wrote. Waters, a vocal critic of big banks, too
Maxine Waters says BB&T and SunTrust merger deserves serious scrutiny Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: jacob pramuk, getty images, bill clark, cq-roll call group
Keywords: news, cnbc, companies, let, eased, scrutiny, em, deserves, democrats, bbt, serious, deal, congressional, financial, suntrust, waters, merger, maxine, passed, banks


Maxine Waters says BB&T and SunTrust merger deserves serious scrutiny

Waters attributed the deal in part to a law passed last year that eased some bank rules implemented in the wake of the 2008 financial crisis. She argued that “this proposed merger between SunTrust and BB&T is a direct consequence of the deregulatory agenda that [President Donald] Trump and Congressional Republicans have advanced.”

The measure passed last year eased regulations on all but the largest U.S. banks. Proponents of the legislation — including 17 Senate Democrats — argued in part that it would save community banks from an unnecessary burden.

In a note earlier Thursday, Cowen Washington Research Group analyst Jaret Seiberg said the deal would likely get approved, but noted that congressional scrutiny could disrupt it. Waters “asking so many questions that it slows the evaluation of the deal” poses a risk to it going through quickly, he wrote.

Waters, a vocal critic of big banks, took control of the panel when Democrats regained a House majority in January. Speaking to CNBC recently, she stressed that she can work with the financial industry.

“Even if you know you disagree with a particular industry, you let ’em in and you let ’em talk to you. It’s always a learning experience,” she said.

WATCH: Rep. Waters meets with Bank CEOs


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: jacob pramuk, getty images, bill clark, cq-roll call group
Keywords: news, cnbc, companies, let, eased, scrutiny, em, deserves, democrats, bbt, serious, deal, congressional, financial, suntrust, waters, merger, maxine, passed, banks


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Facebook’s plan to merge its messaging services ignites further antitrust concerns

Facebook’s reported plans to integrate its three messaging platforms could very well lead to additional regulatory scrutiny for a company that’s already under a legal microscope. The New York Times reported on Friday that Facebook plans to combine the technical infrastructure behind WhatsApp, Instagram and Facebook Messenger, though the apps will continue to function as separate services. CNBC spoke with several antitrust lawyers who all said that Facebook’s move is unlikely to bring new antitru


Facebook’s reported plans to integrate its three messaging platforms could very well lead to additional regulatory scrutiny for a company that’s already under a legal microscope. The New York Times reported on Friday that Facebook plans to combine the technical infrastructure behind WhatsApp, Instagram and Facebook Messenger, though the apps will continue to function as separate services. CNBC spoke with several antitrust lawyers who all said that Facebook’s move is unlikely to bring new antitru
Facebook’s plan to merge its messaging services ignites further antitrust concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-27  Authors: lauren feiner, saul loeb, afp, getty images
Keywords: news, cnbc, companies, whatsapp, ignites, plan, concerns, antitrust, scrutiny, instagram, merge, messaging, plans, company, facebook, services, privacy, facebooks, users


Facebook's plan to merge its messaging services ignites further antitrust concerns

Facebook’s reported plans to integrate its three messaging platforms could very well lead to additional regulatory scrutiny for a company that’s already under a legal microscope.

The New York Times reported on Friday that Facebook plans to combine the technical infrastructure behind WhatsApp, Instagram and Facebook Messenger, though the apps will continue to function as separate services. The paper cited four people familiar with the company’s plans.

CNBC spoke with several antitrust lawyers who all said that Facebook’s move is unlikely to bring new antitrust action against the company. But the public debate quickly started percolating.

Marc Rotenberg, president and executive director the Electronic Privacy Information Center, told the Times that Facebook’s plans would be “a terrible outcome for internet users,” and Representative Ro Khanna (D-Calif.) took to Twitter to voice his concern.

“This is why there should have been far more scrutiny during Facebook’s acquisitions of Instagram and WhatsApp which now clearly seem like horizontal mergers that should have triggered antitrust scrutiny,” Khanna wrote.

The last year has been brutal for Facebook. The company is facing intense pressure over its privacy practices and platform manipulation by foreign actors. At a hearing of international lawmakers in the U.K. in November, a Canadian representative suggested antitrust might be the solution to Facebook’s problems.

“What we’re regulating … are the symptoms,” said Charlie Angus, Canada’s vice chairman of the House of Commons’ standing committee on access to information, privacy and ethics. “Perhaps the best regulation would be antitrust.”

Proponents of breaking up Facebook have suggested spinning out WhatsApp or Instagram. The company’s family of apps sees north of 2.5 billion users each month and dominates mobile traffic. But Daniel Crane, a law professor at the University of Michigan, said that combining the back-end technology of the services shouldn’t factor into that issue.


Company: cnbc, Activity: cnbc, Date: 2019-01-27  Authors: lauren feiner, saul loeb, afp, getty images
Keywords: news, cnbc, companies, whatsapp, ignites, plan, concerns, antitrust, scrutiny, instagram, merge, messaging, plans, company, facebook, services, privacy, facebooks, users


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Kamala Harris’ complicated history with Wall Street will come under scrutiny in the 2020 race

Sen. Kamala Harris’ history with Wall Street and the banking industry is about to come under scrutiny in a big way as the California Democrat joins what is expected to be large group of candidates seeking to topple President Donald Trump in 2020. Harris, of California, has a history of squaring off with the banking industry. The senator, who is under fire from the left over her track record on criminal justice matters, has also been criticized for not going far enough against Wall Street. With t


Sen. Kamala Harris’ history with Wall Street and the banking industry is about to come under scrutiny in a big way as the California Democrat joins what is expected to be large group of candidates seeking to topple President Donald Trump in 2020. Harris, of California, has a history of squaring off with the banking industry. The senator, who is under fire from the left over her track record on criminal justice matters, has also been criticized for not going far enough against Wall Street. With t
Kamala Harris’ complicated history with Wall Street will come under scrutiny in the 2020 race Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: carmin chappell, getty images
Keywords: news, cnbc, companies, come, kamala, scrutiny, wall, history, left, race, 2020, democratic, candidates, president, harris, going, complicated, industry, street, sen


Kamala Harris' complicated history with Wall Street will come under scrutiny in the 2020 race

Sen. Kamala Harris’ history with Wall Street and the banking industry is about to come under scrutiny in a big way as the California Democrat joins what is expected to be large group of candidates seeking to topple President Donald Trump in 2020.

Harris, of California, has a history of squaring off with the banking industry. The senator, who is under fire from the left over her track record on criminal justice matters, has also been criticized for not going far enough against Wall Street.

With the Democratic base moving further to the left since President Donald Trump’s election, the party’s 2020 presidential candidates’ relationship with big business and Wall Street are being subjected to intense scrutiny.

“There is definitely a group of caucus-goers and New Hampshire primary voters that are always going to have an issue when they hear ‘Wall Street’,” said Gillian Rosenberg Armour, a Democratic political strategist who worked on Barack Obama’s 2008 campaign.

New York’s Sen. Kirsten Gillibrand, who said earlier this month that she would run for president, has voted for increased regulation of the financial industry, has received criticism from the left for taking money from big money interests and gauging the support of Wall Street financiers. Former Vice President Joe Biden, who is considering whether to jump into the 2020 race, has deep, long-held ties to the banking industry.

In a crowded Democratic primary field, Harris will be vying for liberal voters against potential candidates who have made cracking down on Wall Street their personal brand. Elizabeth Warren went from a prominent bankruptcy law scholar to creating the Consumer Financial Protection Bureau before she became a Massachusetts senator. Sen. Bernie Sanders, who is considering whether he should run again, proposed breaking up “too-big-to-fail” banks, introducing a bill to do just that in October.

“How [Harris] frames her record is really going to be the deciding factor,” Armour said.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: carmin chappell, getty images
Keywords: news, cnbc, companies, come, kamala, scrutiny, wall, history, left, race, 2020, democratic, candidates, president, harris, going, complicated, industry, street, sen


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How Michelle Obama used scrutiny over her style to her advantage

Obama was sometimes taken aback by the special scrutiny her clothes received. “It seemed that my clothes mattered more to people than anything I had to say,” wrote Obama. Obama wrote that the focus on women’s wardrobes can amount to a sort of double standard and even unfair expenses for women in visible positions. Obama wrote that her staff spent hours ensuring that the designers, colors and styles chosen for any trip paid the proper respects to the people and places she visited. Wrote Obama, “I


Obama was sometimes taken aback by the special scrutiny her clothes received. “It seemed that my clothes mattered more to people than anything I had to say,” wrote Obama. Obama wrote that the focus on women’s wardrobes can amount to a sort of double standard and even unfair expenses for women in visible positions. Obama wrote that her staff spent hours ensuring that the designers, colors and styles chosen for any trip paid the proper respects to the people and places she visited. Wrote Obama, “I
How Michelle Obama used scrutiny over her style to her advantage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ruth umoh
Keywords: news, cnbc, companies, wearing, wrote, attention, obama, clothes, used, michelle, scrutiny, say, lady, focus, style, advantage


How Michelle Obama used scrutiny over her style to her advantage

Michelle Obama’s newly released memoir “Becoming,” dropped Tuesday, covering a range of topics, including how she overcame her fears as a first lady at the start of her husband’s first term as president. The book also touches on a difficult adjustment she needed to make once she became a national public figure: people’s looks are sometimes studied more carefully than their words or their message. She’d learn to use the attention to her advantage.

Obama was sometimes taken aback by the special scrutiny her clothes received. “My pearls, my belts, my cardigans … all seemed to trigger a slew of opinions and instant feedback,” Obama wrote in an excerpt published on Elle.com

At one event, she was moved to tears by girls speaking at a school in London. A reporter didn’t ask what had prompted the first lady to become so emotional but instead asked who designed her dress. “It seemed that my clothes mattered more to people than anything I had to say,” wrote Obama.

Obama wrote that the focus on women’s wardrobes can amount to a sort of double standard and even unfair expenses for women in visible positions. Still, she used this obsession over her wardrobe to divert attention to social issues and people she thought were important.

Like other first ladies before her, she used her spotlight to give attention to American designers, especially ones that weren’t yet established. But she also used her fashion choices to give added visibility to the people she was photographed with or the platform she was trying to promote.

“If people flipped through a magazine primarily to see the clothes I was wearing, I hoped they’d also see the military spouse standing next to me or read what I had to say about children’s health.”

Other women in high profile positions have faced this same scrutiny. In 2015, a reporter asked Amal Clooney what she was wearing while the human rights attorney walked into court to represent Armenia in a genocide denial case. Clooney laughed and responded, “I’m wearing Ede & Ravenscroft,” a reference to a maker of legal robes, one of the oldest established tailors in England.

Fellow politico Hillary Clinton also faced intense scrutiny over her appearance and has said she wore her signature pantsuits in an attempt to control the conversation about her. “Since there wasn’t much to say or report on what I wore, maybe people would focus on what I was saying instead,” the Democratic presidential nominee wrote in her memoir “What Happened.”

To be sure, Obama served as first lady, where optics are paramount. Obama wrote that her staff spent hours ensuring that the designers, colors and styles chosen for any trip paid the proper respects to the people and places she visited.

Still, the focus on her style choices could sometimes be disappointing, she wrote. That said, it pushed her to find new ways to find power in her situation as a public figure, a role she said she would not have chosen for herself.

Wrote Obama, “I tried to reframe it as an opportunity to learn.”

Like this story? Like CNBC Make It on Facebook.

Don’t Miss: Michelle Obama: ‘It’s okay to be bossy’


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: ruth umoh
Keywords: news, cnbc, companies, wearing, wrote, attention, obama, clothes, used, michelle, scrutiny, say, lady, focus, style, advantage


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Amazon should split into two companies to avoid antitrust scrutiny from Trump administration: Citi

The firm reiterated its buy rating for Amazon shares, saying the technology giant is its “top pick” in the internet industry. Amazon shares are down 0.6 percent in Monday’s premarket session. “A smaller market cap Amazon retail business may bring (slightly) less attention to its market size and dominance,” he said. May reaffirmed his $2,250 price target for Amazon shares, representing 14 percent upside to Friday’s close. Here are the seven other reasons May believes Amazon should separate its re


The firm reiterated its buy rating for Amazon shares, saying the technology giant is its “top pick” in the internet industry. Amazon shares are down 0.6 percent in Monday’s premarket session. “A smaller market cap Amazon retail business may bring (slightly) less attention to its market size and dominance,” he said. May reaffirmed his $2,250 price target for Amazon shares, representing 14 percent upside to Friday’s close. Here are the seven other reasons May believes Amazon should separate its re
Amazon should split into two companies to avoid antitrust scrutiny from Trump administration: Citi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: tae kim, ivan alvarado
Keywords: news, cnbc, companies, shareholder, amazon, versus, valuation, avoid, split, roughly, shares, market, retail, trump, citi, antitrust, scrutiny, web, companies, administration, company


Amazon should split into two companies to avoid antitrust scrutiny from Trump administration: Citi

Citi Research believes Amazon should split itself up to reduce the risk of regulation and increase shareholder value.

The firm reiterated its buy rating for Amazon shares, saying the technology giant is its “top pick” in the internet industry.

“There has been greater noise of late regarding the desire to investigate and potentially regulate the company,” analyst Mark May said in a note to clients Monday. “By separating the retail and AWS businesses, Amazon could minimize or avoid the risk of increased regulatory pressure.”

Amazon shares are down 0.6 percent in Monday’s premarket session.

The analyst noted reports President Donald Trump is “obsessed” with Amazon and that his administration could potentially go after the company on antitrust grounds. He added the internet giant is getting more scrutiny due to its roughly $1 trillion market valuation and CEO Jeff Bezos’ status as the richest person in the world.

After a separation, May said Amazon’s retail business will be worth materially less than its cloud computing company. He estimates a roughly $400 billion enterprise value for the company’s retail segment versus $600 billion for Amazon Web Services.

“A smaller market cap Amazon retail business may bring (slightly) less attention to its market size and dominance,” he said.

May reaffirmed his $2,250 price target for Amazon shares, representing 14 percent upside to Friday’s close.

Here are the seven other reasons May believes Amazon should separate its retail and Amazon Web Services businesses:

1. “To better align stock-based compensation/incentives.”

2. “To plan for Bezos’ succession and to promote and retain key executives.”

3. “To take advantage of the HQ2 planning.”

4. “To avoid/minimize conflicts of interest.”

5. “To improve shareholder selection.”

6. “To achieve a better valuation as a pure play.”

7. “To provide a more attractive M&A currency for potential acquisitions.”

Amazon shares are significantly outperforming the market this year. Its shares are up 68.5 percent year to date through Friday versus the S&P 500’s 8.7 percent gain.

The company did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: tae kim, ivan alvarado
Keywords: news, cnbc, companies, shareholder, amazon, versus, valuation, avoid, split, roughly, shares, market, retail, trump, citi, antitrust, scrutiny, web, companies, administration, company


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Amazon’s Bezos says Trump should be ‘glad’ of media scrutiny

Bezos privately owns the Washington Post, which has been among the media that have been the frequent target of broadsides from Trump. Asked about Trump’s repeated criticism of both the Washington Post and Amazon, Bezos called it a “mistake” for any elected official to “attack media and journalists.” “The media,” Bezos added, “is going to be fine. Trump has described the Washington Post as Amazons chief lobbyist. Postal Service for Amazon were costing the service money.


Bezos privately owns the Washington Post, which has been among the media that have been the frequent target of broadsides from Trump. Asked about Trump’s repeated criticism of both the Washington Post and Amazon, Bezos called it a “mistake” for any elected official to “attack media and journalists.” “The media,” Bezos added, “is going to be fine. Trump has described the Washington Post as Amazons chief lobbyist. Postal Service for Amazon were costing the service money.
Amazon’s Bezos says Trump should be ‘glad’ of media scrutiny Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-14
Keywords: news, cnbc, companies, white, dangerous, washington, bezos, service, say, amazons, glad, media, scrutiny, post, trump, postal


Amazon's Bezos says Trump should be 'glad' of media scrutiny

Amazon.com Chief Executive Jeff Bezos said on Thursday the company would announce a decision on where it will build a second headquarters before the end of the year, and also said that President Donald Trump is wrong to “attack the media.”

Bezos privately owns the Washington Post, which has been among the media that have been the frequent target of broadsides from Trump.

Amazon has announced 20 finalists in North America for its planned investment of $5 billion and 50,000 jobs. At a speech before the Economic Club of Washington on Thursday, Bezos did not offer any favorites for the project.

Asked about Trump’s repeated criticism of both the Washington Post and Amazon, Bezos called it a “mistake” for any elected official to “attack media and journalists.”

What Trump “should say (of criticism) is, ‘This is right, this is good. I am glad I am being scrutinized,’ and that would be so secure and confident,” Bezos said. “But it is really dangerous to demonize the media. It is dangerous to call the media lowlifes, it is dangerous to say that they are the enemy of the people.”

“The media,” Bezos added, “is going to be fine. We’re going to push through this.”

Trump has described the Washington Post as Amazons chief lobbyist. The Washington Posts top editor has said that Bezos has no involvement in its news coverage.

Bezos said he has had discussions with Trump but declined to elaborate. The White House did not immediately respond to request for comment.

Trump in the spring repeatedly said without evidence that package deliveries by the U.S. Postal Service for Amazon were costing the service money. He ordered a task force to study the Postal Service, but sources last month said that the White House decided to not yet release the report, forcing a planned Senate hearing on postal reform to be delayed.


Company: cnbc, Activity: cnbc, Date: 2018-09-14
Keywords: news, cnbc, companies, white, dangerous, washington, bezos, service, say, amazons, glad, media, scrutiny, post, trump, postal


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South Korea exchange investigating scrutiny of Merrill Lynch trading

“We are looking into allegations that high-frequency trading of multiple company shares by Merrill Lynch has caused market disruptions,” said Chung Seok-ho, a director at the Korea Exchange. BoAML, the parent company of Merrill Lynch International in Seoul, declined to comment. “Foreign brokerage Merrill Lynch is deceiving retail investors by manipulating stock prices with cutting-edge algorithmic trading. Goldman Sachs faces a fine for alleged illegal “naked” short selling — selling without hav


“We are looking into allegations that high-frequency trading of multiple company shares by Merrill Lynch has caused market disruptions,” said Chung Seok-ho, a director at the Korea Exchange. BoAML, the parent company of Merrill Lynch International in Seoul, declined to comment. “Foreign brokerage Merrill Lynch is deceiving retail investors by manipulating stock prices with cutting-edge algorithmic trading. Goldman Sachs faces a fine for alleged illegal “naked” short selling — selling without hav
South Korea exchange investigating scrutiny of Merrill Lynch trading Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-21  Authors: song jung-a in seoul, emma dunkley
Keywords: news, cnbc, companies, investigating, stock, lynch, scrutiny, highfrequency, merrill, trades, south, retail, trading, selling, investors, exchange, korea


South Korea exchange investigating scrutiny of Merrill Lynch trading

South Korea’s stock exchange has stepped up its monitoring of high-frequency trading by the Seoul branch of Bank of America Merrill Lynch after local investors complained about alleged unfair stock trades by the US brokerage.

The scrutiny comes after individual local investors filed petitions to the presidential office, saying they suffered huge losses due to large, high-frequency trades and bets against South Korean stocks through the brokerage since last year.

“We are looking into allegations that high-frequency trading of multiple company shares by Merrill Lynch has caused market disruptions,” said Chung Seok-ho, a director at the Korea Exchange. “We are checking if there was any unfair trading but we haven’t found any serious problem yet.”

Mr. Chung said the exchange was checking any abnormally fast or frequently repeated trades, as well as those automatically driven by algorithms. He said that if serious problems were found, the case would be brought to state prosecutors for further investigation and potential criminal punishment.

BoAML, the parent company of Merrill Lynch International in Seoul, declined to comment.

Local investors have been pressing authorities to look into Merrill Lynch’s trading of South Korean shares.

The concern is that retail investors follow the trading patterns of large brokerages, such as Merrill Lynch, but cannot keep up with high-frequency trades and end up losing money when the market quickly turns against them.

“Foreign brokerage Merrill Lynch is deceiving retail investors by manipulating stock prices with cutting-edge algorithmic trading. Stern punishment is needed for massive foreign capital,” said a petitioner on the website of the presidential Blue House in late July.

The investors also have objected to the short selling— borrowing shares to sell in the hope that the price will fall — of South Korean stocks by foreign brokerages, which puts downward pressure on prices. Goldman Sachs faces a fine for alleged illegal “naked” short selling — selling without having borrowed the stock — in South Korea.

Although local brokerages are also involved in short selling and high-frequency trading, retail investors in South Korea tend to look to international banks as being more active in the market.

“There could be some side effects from unconditional following of foreign investors’ trading patterns. Retail investors could suffer losses if stock prices slide on foreign selling,” said Lee Chai-won, head of Korea Investment Value Asset Management.

Analysts said Merrill Lynch’s trading pattern was not that different from other stock brokerages and that its high-frequency trading or algorithm-driven trading probably would not constitute unfair trading.

More from the Financial Times:

Computerized trading drives up New York cocoa price

New capital rules spark trader retreat from listed derivatives

US Treasury plans talks on more debt transparency


Company: cnbc, Activity: cnbc, Date: 2018-08-21  Authors: song jung-a in seoul, emma dunkley
Keywords: news, cnbc, companies, investigating, stock, lynch, scrutiny, highfrequency, merrill, trades, south, retail, trading, selling, investors, exchange, korea


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