US government and states sue Facebook for predatory conduct
The FTC and 46 states plus DC accuse Facebook of abusing market power to crush rivals, pushing for remedies including potential spinoffs of Instagram and WhatsApp. The suits allege suppression of competition and data harvesting benefiting ad revenues, marking a major antitrust push alongside other probes of Google, Amazon, and Apple.
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Biden taps Lloyd Austin for defense secretary in historic nomination
President elect Joe Biden introduced retired Army General Lloyd Austin as his pick for secretary of defense in Wilmington, praising the 41 year Army veteran as the right man at the right time. A waiver to the decades old rule requiring civilian leadership faces resistance from some Senate Democrats who fear political backlash over backing the first Black Pentagon chief.
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Chinese dealings tied to Hunter Biden tax probe
Federal investigators examining Hunter Biden's taxes have scrutinized some of his Chinese business dealings and other financial transactions. The probe began in 2018, with subpoenas served recently. Biden says he expects a professional, objective review and remains confident in legal handling of his affairs.
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U.S. stocks pull back as tech weakens on vaccine hopes
The S&P 500 slid 0.8 percent while the Dow fell 105.07 points and the Nasdaq declined 243.82 as tech shares weakened. Vaccine progress from Pfizer BioNTech and Moderna supported optimism despite the pullback. the S&P 500 remains up for the month at 1.4 percent.
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