Facebook facing scrutiny from Federal Trade Commission, agency files revised lawsuit
Facebook is facing scrutiny from the Federal Trade Commission once again. The agency filed a revised lawsuit to break up the social media giant, accusing the company of being a monopoly and unfairly stifling competition.
The amended suit was originally thrown out back in June after a judge ruled it “legally insufficient.” The ruling dismissed the FTC’s complaints, but not the case, allowing the agency another opportunity to file the revised complaint.
Johnson & Johnson’s CEO Alex Gorsky is stepping down. Gorsky will relinquish the position to Joaquin Duato, who previously led their pharmaceutical business.
The outgoing CEO will become executive chairman when he steps down on Jan. 3. During his near-decade-long tenure as CEO, Groksy oversaw massive technological growth within the company, guiding them through manufacturing issues and opioid and talcum-powder lawsuits.
Macy’s shares skyrocketed on Thursday after posting better-than-expected earnings.
The department store’s revenue surging past Wall Street expectations. This comes as vaccination rates climb and shoppers head back to malls and shopping centers to stock up on apparel and shoes.