Yellen suspends reinvestment to buy time on debt limit
Treasury Secretary Janet Yellen sent a letter to congressional leaders announcing the suspension of reinvestment of some federal bonds in a government workers plan. The extraordinary measure aims to extend borrowing capacity until roughly June as President Biden and House Speaker McCarthy clash over a clean debt ceiling increase and spending cuts. Senate Republican Leader McConnell says no default, but path to agreement remains uncertain.
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Justice Dept Antitrust Suit Targets Google Ad Market
The Justice Department and eight states filed an antitrust suit on Tuesday alleging Google dominates the online ad ecosystem. The complaint accuses Google of neutralizing rivals through acquisitions and pressuring advertisers to use its products, harming advertisers, consumers, and the U.S. government.
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Google
U.S
Google faces antitrust suit over online ad monopoly
The United States accuses Google of unlawfully monopolizing online display ads by excluding rivals. Filed in federal court in Alexandria Virginia, the suit seeks divestiture of Google’s ad tech businesses from its search engine and other products including YouTube Gmail and cloud services.
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Senators grill Ticketmaster after Taylor Swift fiasco
The Senate Judiciary Committee pressed Ticketmaster over its market dominance and the Swift ticket debacle, debating non transferability to curb scalping and fee transparency. Live Nation face possibly separating from Ticketmaster amid calls for tougher oversight. CEO Joe Berchtold apologized, noting $1 billion spent to boost security and combat bots.
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