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- shln3yshln3y
  ·2021-07-06
  No
  Oil Slips as OPEC+ Uncertainty Raises Concerns of Oversupply
  -- Oil in New York edged lower amid concerns that OPEC+’s failure to ratify an agreement may lead producers to lose the discipline they have maintained against rising demand.West Texas Intermediate futures for August fell as much as 1.3% in New York. With the collapse of talks on Monday, the Organization of Petroleum Exporting Countries and its allies won’t boost output in August, unless an agreement can be salvaged. The lack of OPEC+ unity could invite new barrels to the market and spell beari
  Oil Slips as OPEC+ Uncertainty Raises Concerns of Oversupply
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- shln3yshln3y
  ·2021-06-24
  Ok
  Microsoft Status in House Antitrust Push Sparks Lawmaker Clash
  (Bloomberg) -- Lawmakers clashed Wednesday over whether Microsoft Corp. would be included in a packa
  Microsoft Status in House Antitrust Push Sparks Lawmaker Clash
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- shln3yshln3y
  ·2021-06-24
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With the collapse of talks on Monday, the Organization of Petroleum Exporting Countries and its allies won’t boost output in August, unless an agreement can be salvaged. The lack of OPEC+ unity could invite new barrels to the market and spell beari","content":"<p>(Bloomberg) -- Oil in New York edged lower amid concerns that OPEC+’s failure to ratify an agreement may lead producers to lose the discipline they have maintained against rising demand.</p>\n<p>West Texas Intermediate futures for August fell as much as 1.3% in New York. With the collapse of talks on Monday, the Organization of Petroleum Exporting Countries and its allies won’t boost output in August, unless an agreement can be salvaged. The lack of OPEC+ unity could invite new barrels to the market and spell bearish news for current prices, said Tom Finlon of Brownsville GTR LLC, a trading and logistics firm based in Houston.</p>\n<p>“I think if you have 23 oil-producing countries that are party to an agreement, and that agreement isn’t extended, and the price of crude is in the mid-70s, that’s an engraved invitation to overproduce,” said Finlon.</p>\n<p>Oil prices have rallied this year, as vaccination rates and economic reopening around the world have spurred fuel consumption. The extent to which the rally continues depends largely on OPEC+ ability to reach an agreement to limit output.</p>\n<p>Tuesday’s decline cames as most commodity and stock markets fell and the dollar edged higher.</p>\n<p>Discussions among the alliance dissolved acrimoniously as the United Arab Emirates blocked a proposal led by Saudi Arabia and Russia. While the situation is fluid and negotiations could be reactivated, the breakdown has damaged the group’s image as a responsible steward of the market.</p>\n<p>WTI earlier hit the highest since November 2014, as the breakdown in talks left the market without the extra supplies for next month it had been counting on. Analysts from Citigroup Inc. to UBS Group AG warned that withholding extra supplies as demand recovers rapidly from the coronavirus pandemic will push prices higher.</p>\n<p>A repeat of last year’s destructive price war, which sent oil crashing, is also no longer a “negligible” prospect, Goldman warned.</p>\n<p>“If there’s any indication that the UAE folks are adding barrels, there’s a chance, probably a good chance that others within the producer group will try and beat them to the punch,” said Bob Yawger, head of the futures division at Mizuho Securities.</p>\n<p>Oil and Dollars: Why the UAE Is Risking a Falling-Out With OPEC+</p>\n<p>Oil’s rally has been accompanied by sharp moves in price spreads between monthly contracts, an indication that traders see supply conditions growing tighter. The premium of Brent’s November contract over December jumped to 81 cents a barrel from 73 cents on Friday.</p>\n<p>The 23-nation OPEC+ coalition had been on the brink of an agreement to restore production halted during the pandemic, in monthly increments of 400,000 barrels a day. That plan could still be ratified, or members may choose to informally leak barrels to eager consumers.</p>\n<p>“A compromise will be reached which should allow additional barrels into the market from August,” said Ole Hansen, head of commodities research at Saxo Bank A/S. “The political pressure from large consumers such as India and China will grow, with Washington probably also adding some pressure.”</p>\n<p>Traders will also look to crude and gasoline inventories in the U.S. last week for signals about demand in the world’s biggest oil-consuming country, in the industry-funded American Petroleum Institute report released later Tuesday.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Slips as OPEC+ Uncertainty Raises Concerns of Oversupply</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Slips as OPEC+ Uncertainty Raises Concerns of Oversupply\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 22:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/u-oil-price-jumps-six-074615967.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Oil in New York edged lower amid concerns that OPEC+’s failure to ratify an agreement may lead producers to lose the discipline they have maintained against rising demand.\nWest Texas ...</p>\n\n<a href=\"https://finance.yahoo.com/news/u-oil-price-jumps-six-074615967.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/u-oil-price-jumps-six-074615967.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150315172","content_text":"(Bloomberg) -- Oil in New York edged lower amid concerns that OPEC+’s failure to ratify an agreement may lead producers to lose the discipline they have maintained against rising demand.\nWest Texas Intermediate futures for August fell as much as 1.3% in New York. With the collapse of talks on Monday, the Organization of Petroleum Exporting Countries and its allies won’t boost output in August, unless an agreement can be salvaged. The lack of OPEC+ unity could invite new barrels to the market and spell bearish news for current prices, said Tom Finlon of Brownsville GTR LLC, a trading and logistics firm based in Houston.\n“I think if you have 23 oil-producing countries that are party to an agreement, and that agreement isn’t extended, and the price of crude is in the mid-70s, that’s an engraved invitation to overproduce,” said Finlon.\nOil prices have rallied this year, as vaccination rates and economic reopening around the world have spurred fuel consumption. The extent to which the rally continues depends largely on OPEC+ ability to reach an agreement to limit output.\nTuesday’s decline cames as most commodity and stock markets fell and the dollar edged higher.\nDiscussions among the alliance dissolved acrimoniously as the United Arab Emirates blocked a proposal led by Saudi Arabia and Russia. While the situation is fluid and negotiations could be reactivated, the breakdown has damaged the group’s image as a responsible steward of the market.\nWTI earlier hit the highest since November 2014, as the breakdown in talks left the market without the extra supplies for next month it had been counting on. Analysts from Citigroup Inc. to UBS Group AG warned that withholding extra supplies as demand recovers rapidly from the coronavirus pandemic will push prices higher.\nA repeat of last year’s destructive price war, which sent oil crashing, is also no longer a “negligible” prospect, Goldman warned.\n“If there’s any indication that the UAE folks are adding barrels, there’s a chance, probably a good chance that others within the producer group will try and beat them to the punch,” said Bob Yawger, head of the futures division at Mizuho Securities.\nOil and Dollars: Why the UAE Is Risking a Falling-Out With OPEC+\nOil’s rally has been accompanied by sharp moves in price spreads between monthly contracts, an indication that traders see supply conditions growing tighter. The premium of Brent’s November contract over December jumped to 81 cents a barrel from 73 cents on Friday.\nThe 23-nation OPEC+ coalition had been on the brink of an agreement to restore production halted during the pandemic, in monthly increments of 400,000 barrels a day. That plan could still be ratified, or members may choose to informally leak barrels to eager consumers.\n“A compromise will be reached which should allow additional barrels into the market from August,” said Ole Hansen, head of commodities research at Saxo Bank A/S. “The political pressure from large consumers such as India and China will grow, with Washington probably also adding some pressure.”\nTraders will also look to crude and gasoline inventories in the U.S. last week for signals about demand in the world’s biggest oil-consuming country, in the industry-funded American Petroleum Institute report released later Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128971830,"gmtCreate":1624499784720,"gmtModify":1703838473279,"author":{"id":"4087600796721830","authorId":"4087600796721830","name":"shln3y","avatar":"https://static.tigerbbs.com/8ca8224c692dfc049beb241b11488910","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087600796721830","authorIdStr":"4087600796721830"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128971830","repostId":"1164085879","repostType":4,"repost":{"id":"1164085879","kind":"news","pubTimestamp":1624498461,"share":"https://ttm.financial/m/news/1164085879?lang=&edition=fundamental","pubTime":"2021-06-24 09:34","market":"us","language":"en","title":"Microsoft Status in House Antitrust Push Sparks Lawmaker Clash","url":"https://stock-news.laohu8.com/highlight/detail?id=1164085879","media":"Bloomberg","summary":"(Bloomberg) -- Lawmakers clashed Wednesday over whether Microsoft Corp. would be included in a packa","content":"<p>(Bloomberg) -- Lawmakers clashed Wednesday over whether Microsoft Corp. would be included in a package of House antitrust bills aimed at big tech companies, even as the software giant’s valuation hovers around $2 trillion.</p>\n<p>Republicans questioned why the criteria for covered platforms in the legislation appeared tailored to exempt Microsoft. Republican Jim Jordan and other GOP lawmakers said they want to ensure the software giant doesn’t get special treatment.</p>\n<p>Representative Pramila Jayapal of Washington state initially said that while Microsoft exceeds the $600 billion market capitalization threshold laid out in four of the six bills before the Judiciary panel, another criterion about whether the Redmond, Washington-based company is considered a critical trading partner might let it off the hook.</p>\n<p>Jayapal said later in the hearing that she thinks Microsoft would count as a critical trading partner because of its cloud platform.</p>\n<p>“The assumption that Microsoft is not covered is incorrect,” Jayapal said after several lawmakers questioned why the definition in the bills appeared tailored to exclude Microsoft.</p>\n<p>A company has to meet all of the criteria in the four tech-focused bills to be covered, including that it have a market capitalization of at least $600 billion..</p>\n<p>‘Biggest Offenders’</p>\n<p>During the hearing, Republican Representative Thomas Massie of Kentucky challenged his colleagues on the committee to explain why Microsoft wouldn’t fall under the measures.</p>\n<p>“I’m trying to figure out why one of the biggest offenders, of Big Tech, has mysteriously avoided the scrutiny of this committee and this broad swath of bills that seek to radically rewrite our antitrust law,” Massie said, waving a draft of the bill that he said was shared with Microsoft before it was public. “I’m talking about Microsoft.”</p>\n<p>Democrat David Cicilline of Rhode Island, the chair of the antitrust subcommittee that drafted the bills, denied during the hearing that any company has been granted an exception. He said that the bill in question was based on previous legislation introduced in the Senate, so it wouldn’t have been hard to find draft text.</p>\n<p>“There are no exemptions in these bills,” Cicilline said. “No company is exempted, period.”</p>\n<p>A final determination about which companies would be covered by the bills will be made by the Justice Department and the Federal Trade Commission, Cicilline said. “Each of these bills is broadly applicable to firms that meet the definition of a covered platform,” Cicilline said, without saying whether Microsoft would be among them.</p>\n<p>The bills before the Judiciary Committee came out of last year’s investigation of the allegedly anti-competitive practices of Facebook Inc., Apple Inc., Amazon.com Inc. and Alphabet Inc.’s Google. Microsoft, which offers products including Windows, LinkedIn, Office and Teams, wasn’t a target of that investigation.</p>\n<p>The six bills are likely to be approved by the Judiciary Committee, but it’s unclear if they have enough support to pass the House. Their fate is even more uncertain in the Senate, where legislation needs at least 10 Republicans to pass, making it difficult for them to become law as written.</p>\n<p>A proposed amendment offered by Judiciary Chair Jerrold Nadler, a New York Democrat, to narrow the definition of “online platform” for the four tech-focused bills to “mobile operating system,” was undone by another amendment to strike the word “mobile.”</p>\n<p>The draft of the bill Massie displayed during the hearing, which was reviewed by Bloomberg News, didn’t mention operating systems at all in that definition. A Microsoft spokesman said the company didn’t request the change.</p>\n<p>Asked during a break earlier in the hearing whether Microsoft -- which built its success through its Windows operating system for computers -- would be in scope of the bills, Nadler said he “would think so.”</p>\n<p>Antitrust Scrutiny</p>\n<p>Jordan of Ohio, the top Republican on the Judiciary Committee, earlier this week objected to what he saw as special treatment of Microsoft in the bipartisan House bills. He sent a scathing letter to Microsoft President Brad Smith on Monday, saying “Democrats have excluded Microsoft from antitrust scrutiny,” and demanded a clear answer to whether the company believes it would fall under the House proposals.</p>\n<p>“That’s what we have here. Bills that supposedly go after Big Tech, being written by Big Tech,” Jordan said during Wednesday’s hearing.</p>\n<p>Last week, Smith said in a Bloomberg TV interview that “there are aspects of the legislation that was introduced in the house last week that absolutely applies to Microsoft and many other companies.” That, however, could have referred to the two bills before the committee that offer modest measures to support antitrust enforcers and aren’t focused on the tech industry.</p>\n<p>Smith went on to say that he sees U.S. antitrust action focusing on services that aren’t Microsoft’s core business.</p>\n<p>“I think in many ways where this is going is a particular focus on technology platforms that serve as gatekeepers,” Smith said. “In other words, they not only serve as a platform like an operating system, but people need to go through them to sell their commerce, whether it’s a product that’s on Amazon or an app, say, in the Apple App Store or through a service like Google search.”</p>\n<p>Smith has cultivated strong relationships with lawmakers, including with the top Democrats and Republicans on the antitrust subcommittee. He testified in March in favor of Cicilline’s bill to help newspapers negotiate with online platforms.</p>\n<p>He was also in the same class at Princeton University as Colorado Republican Ken Buck, who played a key role in drafting the House bills and in last year’s investigation of Facebook, Apple, Amazon and Google.</p>\n<p>‘Covered Platform’</p>\n<p>One of the bills is Cicilline’s proposal to outlaw any practice that “advantages the covered platform operator’s own products, services, or lines of business over those of another business user.” That could limit how Apple presents its own music and messaging products on iPhones because competitors including Spotify and Facebook’s WhatsApp depend on mobile phones to reach consumers.</p>\n<p>The bill from Jayapal, whose district includes the outskirts of Seattle, could force the divestiture of entire lines of business. That could be devastating to Amazon, which is based in Seattle.</p>\n<p>The other two measures, including one sponsored by Buck, would limit acquisitions by the covered platforms and would make it easier for users to move their data, like contacts and photos, from one service to another.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft Status in House Antitrust Push Sparks Lawmaker Clash</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicrosoft Status in House Antitrust Push Sparks Lawmaker Clash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 09:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/microsoft-may-duck-house-antitrust-213629731.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Lawmakers clashed Wednesday over whether Microsoft Corp. would be included in a package of House antitrust bills aimed at big tech companies, even as the software giant’s valuation ...</p>\n\n<a href=\"https://finance.yahoo.com/news/microsoft-may-duck-house-antitrust-213629731.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"source_url":"https://finance.yahoo.com/news/microsoft-may-duck-house-antitrust-213629731.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164085879","content_text":"(Bloomberg) -- Lawmakers clashed Wednesday over whether Microsoft Corp. would be included in a package of House antitrust bills aimed at big tech companies, even as the software giant’s valuation hovers around $2 trillion.\nRepublicans questioned why the criteria for covered platforms in the legislation appeared tailored to exempt Microsoft. Republican Jim Jordan and other GOP lawmakers said they want to ensure the software giant doesn’t get special treatment.\nRepresentative Pramila Jayapal of Washington state initially said that while Microsoft exceeds the $600 billion market capitalization threshold laid out in four of the six bills before the Judiciary panel, another criterion about whether the Redmond, Washington-based company is considered a critical trading partner might let it off the hook.\nJayapal said later in the hearing that she thinks Microsoft would count as a critical trading partner because of its cloud platform.\n“The assumption that Microsoft is not covered is incorrect,” Jayapal said after several lawmakers questioned why the definition in the bills appeared tailored to exclude Microsoft.\nA company has to meet all of the criteria in the four tech-focused bills to be covered, including that it have a market capitalization of at least $600 billion..\n‘Biggest Offenders’\nDuring the hearing, Republican Representative Thomas Massie of Kentucky challenged his colleagues on the committee to explain why Microsoft wouldn’t fall under the measures.\n“I’m trying to figure out why one of the biggest offenders, of Big Tech, has mysteriously avoided the scrutiny of this committee and this broad swath of bills that seek to radically rewrite our antitrust law,” Massie said, waving a draft of the bill that he said was shared with Microsoft before it was public. “I’m talking about Microsoft.”\nDemocrat David Cicilline of Rhode Island, the chair of the antitrust subcommittee that drafted the bills, denied during the hearing that any company has been granted an exception. He said that the bill in question was based on previous legislation introduced in the Senate, so it wouldn’t have been hard to find draft text.\n“There are no exemptions in these bills,” Cicilline said. “No company is exempted, period.”\nA final determination about which companies would be covered by the bills will be made by the Justice Department and the Federal Trade Commission, Cicilline said. “Each of these bills is broadly applicable to firms that meet the definition of a covered platform,” Cicilline said, without saying whether Microsoft would be among them.\nThe bills before the Judiciary Committee came out of last year’s investigation of the allegedly anti-competitive practices of Facebook Inc., Apple Inc., Amazon.com Inc. and Alphabet Inc.’s Google. Microsoft, which offers products including Windows, LinkedIn, Office and Teams, wasn’t a target of that investigation.\nThe six bills are likely to be approved by the Judiciary Committee, but it’s unclear if they have enough support to pass the House. Their fate is even more uncertain in the Senate, where legislation needs at least 10 Republicans to pass, making it difficult for them to become law as written.\nA proposed amendment offered by Judiciary Chair Jerrold Nadler, a New York Democrat, to narrow the definition of “online platform” for the four tech-focused bills to “mobile operating system,” was undone by another amendment to strike the word “mobile.”\nThe draft of the bill Massie displayed during the hearing, which was reviewed by Bloomberg News, didn’t mention operating systems at all in that definition. A Microsoft spokesman said the company didn’t request the change.\nAsked during a break earlier in the hearing whether Microsoft -- which built its success through its Windows operating system for computers -- would be in scope of the bills, Nadler said he “would think so.”\nAntitrust Scrutiny\nJordan of Ohio, the top Republican on the Judiciary Committee, earlier this week objected to what he saw as special treatment of Microsoft in the bipartisan House bills. He sent a scathing letter to Microsoft President Brad Smith on Monday, saying “Democrats have excluded Microsoft from antitrust scrutiny,” and demanded a clear answer to whether the company believes it would fall under the House proposals.\n“That’s what we have here. Bills that supposedly go after Big Tech, being written by Big Tech,” Jordan said during Wednesday’s hearing.\nLast week, Smith said in a Bloomberg TV interview that “there are aspects of the legislation that was introduced in the house last week that absolutely applies to Microsoft and many other companies.” That, however, could have referred to the two bills before the committee that offer modest measures to support antitrust enforcers and aren’t focused on the tech industry.\nSmith went on to say that he sees U.S. antitrust action focusing on services that aren’t Microsoft’s core business.\n“I think in many ways where this is going is a particular focus on technology platforms that serve as gatekeepers,” Smith said. “In other words, they not only serve as a platform like an operating system, but people need to go through them to sell their commerce, whether it’s a product that’s on Amazon or an app, say, in the Apple App Store or through a service like Google search.”\nSmith has cultivated strong relationships with lawmakers, including with the top Democrats and Republicans on the antitrust subcommittee. He testified in March in favor of Cicilline’s bill to help newspapers negotiate with online platforms.\nHe was also in the same class at Princeton University as Colorado Republican Ken Buck, who played a key role in drafting the House bills and in last year’s investigation of Facebook, Apple, Amazon and Google.\n‘Covered Platform’\nOne of the bills is Cicilline’s proposal to outlaw any practice that “advantages the covered platform operator’s own products, services, or lines of business over those of another business user.” That could limit how Apple presents its own music and messaging products on iPhones because competitors including Spotify and Facebook’s WhatsApp depend on mobile phones to reach consumers.\nThe bill from Jayapal, whose district includes the outskirts of Seattle, could force the divestiture of entire lines of business. That could be devastating to Amazon, which is based in Seattle.\nThe other two measures, including one sponsored by Buck, would limit acquisitions by the covered platforms and would make it easier for users to move their data, like contacts and photos, from one service to another.","news_type":1},"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128944898,"gmtCreate":1624499651514,"gmtModify":1703838466246,"author":{"id":"4087600796721830","authorId":"4087600796721830","name":"shln3y","avatar":"https://static.tigerbbs.com/8ca8224c692dfc049beb241b11488910","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087600796721830","authorIdStr":"4087600796721830"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128944898","repostId":"1115102727","repostType":4,"isVote":1,"tweetType":1,"viewCount":315,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}