Grocery chain Albertsons ended its $25 billion merger with Kroger, first announced in 2022, after a judge blocked it from going through.
The Federal Trade Commission (FTC) argued that the merger would hurt consumers by limiting competition.
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A federal judge struck down a Biden administration rule on Tuesday that banned employers from using noncompete agreements, which would have affected the contracts of millions of Americans.
U.S. District Court Judge Ada Brown for the Northern District of Texas ruled that the Federal Trade Commission’s (FTC) banning the entire category of noncompetes, rather than targeting “specific, harmful” sub-categories of the agreements, went beyond the commission’s mandate to police unfair methods of competition. The ban on the contracts that limit workers’ ability to move to rival firms, which was announced in April, was supposed to go into effect on September 4 and would have affected roughly 30 million American workers, according to the initial FTC press release.
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Vice President Kamala Harris is poised to roll out a proposal to impose a federal ban on supposed corporate “price-gouging” on food and groceries, according to The Hill.
Harris will announce the plan during a Friday speech detailing her economic agenda in North Carolina, where she will blame corporate consolidation and greed for the increased prices Americans are paying for their food and groceries, according to The Hill. The proposal to attribute inflation to corporate greed echoes a common refrain from the Biden administration, which has consistently tried to pin responsibility for inflation on price gouging instead of its massive spending agenda.
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The Federal Trade Commission issued a final rule Tuesday to ban noncompete contracts that prevent employees from joining rival companies in a move that immediately drew a legal challenge.
U.S. Chamber of Commerce President and CEO Suzanne Clark said the measure was illegal and would hurt businesses and workers.
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The Federal Trade Commission (FTC) issued a final rule Tuesday banning noncompete agreements nationwide, affecting millions of Americans.
Regulators argue that banning noncompetes will promote competition by giving workers greater ability to switch jobs, increasing innovation and leading to more businesses being created, according to an announcement from the FTC. The FTC estimates that around 18 percent of U.S. workers, or 30 million people, are covered under a noncompete, with the new rule applying to anyone not in a senior executive role, which is defined as someone who is making more than $151,164 and in a policy-making position.
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A state auditor’s office recently completed a review that found no proof there is any wrongdoing on the part of Grand Canyon University, but two federal agencies are continuing with their campaigns against the Christian university despite the findings.
The Arizona State Approving Agency, an arm of the state’s Department of Veteran Services, issued a determination Feb. 20 that risks identified by “court actions by the government” could not be substantiated, which means the private nonprofit’s students can still use GI bill funding to pay tuition.
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The latest report from the Federal Trade Commission (FTC) reveals that American adults lost a record amount of money to acts of fraud in the year 2023, totaling around $10 billion.
As reported by Axios, the number of Americans who fell victim to fraudulent scams was roughly 690,000. The average lost amount per person was $500.
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