Josh Hawley proposes ban to curb growth of biggest U.S. tech companies
CBSN
Republican Senator Josh Hawley of Missouri unveiled legislation on Monday aimed at strengthening antitrust laws and curbing the growing political power of America's biggest companies.
The legislation, which Hawley called "Trust-Busting For the 21st Century Act," bans all mergers and acquisitions by companies with a market capitalization of over $100 billion, empowers the Federal Trade Commission (FTC) to prohibit "digital dominant firms" from buying out potential competitors, and forces companies that lose antitrust lawsuits to forfeit profits from monopolistic conduct. "If you allow corporations to amass significant economic power through market concentration, they are going to have political power, and they're going to use it," Hawley told reporters. "We're also seeing the growing political power, not just of tech, although that's quite significant, but of industry across the board."A cybercriminal group claims it stole personal data belonging to more than 500 million Ticketmaster customers. Although the event ticketing service, owned by Live Nation Entertainment, hasn't confirmed the attack, security experts warn that it could put users of the platform at risk for a range of scams.
Two climbers were waiting to be rescued near the peak of Denali, a colossal mountain that towers over miles of vast tundra in southern Alaska, officials said Wednesday. Originally part of a three-person team that became stranded near the top of the mountain, the climbers put out a distress call more than 30 hours earlier suggesting they were hypothermic and unable to descend on their own, according to the National Park Service.