The clock is running out for Congress to pass Big Tech antitrust bills this year:

The clock is running out for Congress to pass Big Tech antitrust bills this year:

Nearly three years ago, when the Justice Department and Federal Trade Commission launched probes into the business practices of Big Tech, antitrust experts and legal talking heads declared a new age in enforcement and a chastening of unbridled financial power. But a pandemic and countless bill markups later – amid feverish lobbying efforts by Apple … Read more

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $ 3 billion, including a $ 2 billion commitment from the kingdom’s … Read more

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $ 3 billion, including a $ 2 billion commitment from the kingdom’s … Read more

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas:

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas:

WASHINGTON — Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses … Read more

Facebook’s E-Commerce Bet Stumbles as Meta Looks to Revamp Its Ads Business:

Facebook’s E-Commerce Bet Stumbles as Meta Looks to Revamp Its Ads Business:

Facebook FB: 0.43% parent Meta Platforms: Inc. FB: 0.43% developed e-commerce services in 2020 as people shopped more from home and the company faced a changing digital ad market. Two years later, employees, former executives and retailers say the division remains a work in progress. Some retailers say they are frustrated by Meta:‘s: e-commerce rollout, … Read more

New York’s Waldorf Astoria Hotel Finds a Rocky Path to Condo Conversion:

New York’s Waldorf Astoria Hotel Finds a Rocky Path to Condo Conversion:

The Chinese owner of Manhattan’s historic Waldorf Astoria hotel has been struggling to complete its plan for converting hundreds of guest rooms into luxury condos. The process has fallen at least two years behind the initial schedule and costs have ballooned, leading to the departure last week of the top US executive overseeing the project. … Read more

Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash:

Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash:

Big oil companies are continuing to reap the benefits of high commodity prices but aren’t backing off plans to reward investors while keeping production roughly flat. Exxon XOM: -2.24% Mobil Corp. said Friday it collected $ 5.5 billion in first-quarter profit, more than double the same period last year. The US oil giant said it … Read more