financetom
Business
financetom
/
Business
/
US Senate confirms Republican nominees to FTC
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US Senate confirms Republican nominees to FTC
Mar 7, 2024 4:49 PM

WASHINGTON, March 7 (Reuters) - The U.S. Senate late on

Thursday confirmed by voice vote two nominees to fill Republican

slots at the Federal Trade Commission.

President Joe Biden in July nominated Virginia Solicitor

General Andrew Ferguson and Utah Solicitor General Melissa

Holyoak to the five-member FTC.

The two Republicans will not change the balance of power at

the FTC, which enforces antitrust law and rules against

deceptive advertising, and currently has a Democratic chair,

Lina Khan, and two Democratic commissioners.

The Senate also on Thursday approved a new term for

Democratic FTC Commissioner Rebecca Slaughter. The FTC has been

without a Republican commissioner for nearly a year.

Under the Biden administration, the FTC has taken a

tougher stand against mergers it finds may lead to higher prices

for consumers or stunt innovation.

Last month, the FTC sued supermarket chain to block Kroger's ( KR )

$24.6 billion deal to buy smaller rival Albertsons ( ACI )

, saying it would boost grocery prices for millions of

Americans.

In September, the FTC filed a long-awaited antitrust lawsuit

against Amazon, accusing the online retailer of operating an

illegal monopoly, in part by fighting efforts by sellers on its

online marketplace to offer products more cheaply on other

platforms. Trial is set for October 2026.

In January, Amazon and robot vacuum maker iRobot

ended their plans to merge in the face of opposition from EU

antitrust regulators and the FTC.

Ferguson was chief counsel to U.S. Senate Republican Leader

Mitch McConnell from 2019 until 2021. He has also worked for

Senators Lindsey Graham and Chuck Grassley.

Holyoak has previously worked as an associate at the law

firm O'Melveny & Myers LLP, and at Hamilton Lincoln Law

Institute, which focuses on fighting class action lawsuits and

aggressive regulation, as well as at the Competitive Enterprise

Institute and the Center for Class Action Fairness.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Italy's Meloni to visit China this week with trade, investment agenda
Italy's Meloni to visit China this week with trade, investment agenda
Jul 24, 2024
ROME, July 24 (Reuters) - Italian Prime Minister Giorgia Meloni will visit China from July 26-31 on her first trip there since taking office, aiming to improve trade with China, a person involved in the planning told Reuters. Meloni, who sees Chinese investment as a way to spur Italy's anaemic economic growth, is expected to meet Chinese President Xi Jinping...
Why Vintage Wine Estates (VWE) Stock Is Getting Hammered
Why Vintage Wine Estates (VWE) Stock Is Getting Hammered
Jul 24, 2024
Vintage Wine Estates Inc ( VWE ) shares are trading lower by 32.6% to $0.07 during Wednesday’s session after the company announced a bankruptcy filing and a voluntary delisting and SEC deregistration. What Happened? Vintage Wine Estates ( VWE ) and its subsidiaries have filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware....
--Lyft to Implement Safety Reforms to Settle Lawsuit Over Sexual Assault by Drivers, Reuters Says
--Lyft to Implement Safety Reforms to Settle Lawsuit Over Sexual Assault by Drivers, Reuters Says
Jul 24, 2024
12:37 PM EDT, 07/24/2024 (MT Newswires) -- Price: 12.01, Change: -0.58, Percent Change: -4.58 ...
RBC's Second Quarter Preview of Canadian Media Sector
RBC's Second Quarter Preview of Canadian Media Sector
Jul 24, 2024
12:39 PM EDT, 07/24/2024 (MT Newswires) -- In its second quarter preview of Canadian Media companies, RBC writes that, at current valuations, we continue to see attractive entry points for most stocks in our broader media coverage provided the ongoing improvement in advertising and operating environments continues and an economic hard landing is avoided. RBC's best ideas are VerticalScope (...
Copyright 2023-2026 - www.financetom.com All Rights Reserved