The time from new rumor to signed deal was only about two days, and yet here we are: AT&T is putting the moves on Time Warner, planning to bring the content powerhouse under its roof. This proposal will now, of course, have to grind its way through the gears of government approval. But while this proposal is a giant deal for two giant companies, the name that’s likely to come up more than any other in all the comments back-and-forth is neither Time Warner nor AT&T, but rather a competitor: Comcast. [More]
Amid recent revelations that EpiPen maker Mylan has been overcharging U.S. taxpayers for potentially hundreds of millions of dollars since at least 2011, the drug company says it has agreed to pay $465 million to close the book on a federal investigation into its Medicaid pricing — all without admitting any liability. [More]
Thousands of Wells Fargo employees were let go after federal and state regulators exposed the long-running fake account fiasco, and the civil lawsuits and congressional investigations into the matter are beginning to pile up. Now a coalition of 14 senators are asking the Department of Justice to launch a criminal investigation in the hope of ferreting out individuals at Wells Fargo who may have encouraged or turned a blind eye to this fraud. [More]
Facing billions of dollars in losses related to fines, penalties, repair costs, and other expenses connected to the massive recall of shrapnel-shooting airbags, Takata is reportedly looking at restructuring through bankruptcy as an option. But if the auto parts maker goes this route, would we all be stuck footing the bill to replace the defective safety devices? [More]
For-profit college operators continued to take hits this week, as lawmakers called for federal aid restriction on the Computer Systems Institute brand, and smaller Regency Beauty Institute brand announced it would close. [More]
EpiPen maker Mylan might have thought that dealing with the public shaming of a congressional hearing would be the low point of its ongoing price-hike scandal, but lawmakers continue to scrutinize the drug company and are now calling for a federal investigation into the possibility that Mylan was deliberately mis-categorizing the emergency allergy medication in order to reap bigger payments from Medicaid. [More]
The Federal Communications Commission has been stewing over a proposal that would shake up the cable set-top box market for months. They’ve got a vote on the final proposal coming up this week, but in the face of partisan bickering and opposition from the cable industry, the matter has become controversial. So today, a whole passel of folks called on the FCC to approve the measure ASAP, for consumers’ sake.
There are all kinds of annoyances involved in flying, whether it’s that jerk in front of you who slammed his seat back into your knees or the fees you pay to check a bag and select your seat. But one of the most infuriating things for passengers these days? Not knowing how much your airfare will cost by the time all is said and done.
Now that Wells Fargo is in the hot seat for allegedly pushing its employees to meet sales goals and quotas by opening millions of bogus accounts in customers’ names, will the bank use the anti-consumer terms of its customer contracts to get out of the inevitable class action lawsuits? A coalition of U.S. senators have written the bank’s CEO asking him to please not strip customers’ of their day in court. [More]
Election years beget a compressed Congressional schedule. The House and Senate just got back to work in D.C. after a six-week break, and will be taking another six-week break as soon as we hit October 1 (picking up again after the election), so everything the committees want to do has to get done now. Like bringing in all five FCC commissioners for another episode of everyone’s favorite series, The FCC Explains And Defends Literally Everything It’s Doing. [More]
Amid calls for drugmaker Mylan to drop the price of emergency allergy treatment EpiPen, the attorney general for the state of New York has launched an antitrust investigation into a program that helps to put EpiPens in schools, potentially to the detriment of competition. At the same time, U.S. lawmakers are pushing regulators for a federal antitrust probe on the program. [More]
This morning, drug company Mylan announced that it will soon introduce a lower-cost (but still not cheap) generic version of its popular EpiPen emergency allergy treatment. In response, one senator who has been critical of Mylan’s actions says more must be done to make the life-saving drug available. [More]
As you may have heard, the cost of a life-saving EpiPen from drug maker Mylan increased as much as 600% in just nine years, causing lawmakers and health advocates to call on the drug company — and its CEO Heather Bresch — to lower the cost and provide answers for its increase in the first place. But that could be difficult given the executive’s personal connections not only to the medication, but one legislator. [More]
The cost of a life-saving EpiPen from drug maker Mylan increased as much as 600% in just nine years. That’s simply too much, lawmakers say, with some legislators now calling on the pharmaceutical giant to drop its price immediately, while others are pushing for a congressional hearing on the matter. [More]