scorecardresearch
TALKING POINTS

Stories you may have missed from the world of business

ANTITRUST

Congressman vows to pursue regulation of big tech with open mind

Legislation and more regulation of technology companies is possible, but lawmakers are approaching any scrutiny with an open mind, the lawmaker leading an antitrust review of the industry said. “This is an investigation to collect the best data and best information,” US Representative David Cicilline, the Rhode Island Democrat who leads the House Antitrust, Commercial & Administrative Law Subcommittee, said on “Fox News Sunday.” His committee holds its first hearing on big tech Tuesday. The goal, he said, is to “bring more competition.” On CNN’s “Reliable Sources,” he said, “These large technology platforms are very dominant.” The probe will “look at the monopoly moment we’re in and figure out we get the market working right.” Companies like Facebook and Google provide platforms for consumers and gather information that is then used by advertising companies, political parties, and other groups. “The data that’s collected is used to generate revenue, so they’re not really free,” Cicilline said. Consumer advocates and a newspaper trade group are scheduled to testify on the effect of digital platforms on news media organizations, possible anticompetitive conduct of “dominant firms,” and whether current laws and enforcement policies are adequate, a person familiar with the hearing has said. — BLOOMBERG NEWS

AVIATION

American Airlines extends Boeing Max cancellations through Sept. 3

American Airlines Group has tacked two weeks onto the time the Boeing Co. 737 Max will remain off its flight schedule, as the aircraft nears the three-month mark of global grounding after two fatal crashes. American will scrap about 115 daily flights as it extends the Max cancellations through Sept. 3. Southwest Airlines Co., the biggest Max operator, has set Aug. 5 for the Max to resume flights. United Continental plans for Aug. 3. Boeing is finalizing a software fix for a flight-control system malfunction linked to accidents involving Lion Air and Ethiopian Airlines, and is proposing new pilot training. A combined 346 people died in the crashes. Customers affected by the cancellations can be booked on other flights or can request a full refund. — BLOOMBERG NEWS

Advertisement



ENERGY

Average US price of gas drops 9 cents per gallon

The average US price of regular-grade gasoline dropped 9 cents per gallon over the past three weeks, to $2.84. Analyst Trilby Lundberg of the Lundberg Survey said Sunday that lower crude oil prices contributed to the drop at the pumps. The price is 17 cents lower than it was a year ago. The highest average price is $3.94 a gallon, in the San Francisco Bay Area. The lowest is $2.27, in Baton Rouge, La. — ASSOCIATED PRESS

Advertisement



TARIFFS

World economic leaders warn of fallout from trade war between US and China

Global finance leaders meeting in Fukuoka, Japan, over the weekend said they were increasingly worried the US-China trade dispute, which shows no signs of abating, could propel the world economy into crisis. The sense of gloom at the gathering of the Group of 20 major economies came amid increasing evidence that global economic growth is slowing amid President Trump’s renewed trade war with Beijing. In a closing statement, officials at the G-20 warned trade tensions have “intensified” and agreed to address the risks. But the Trump administration gave no sign it was ready to back down. Treasury Secretary Steven Mnuchin continued to blame China for prolonging the fight and insisted it was not hurting the US economy or hampering global growth. “I don’t think in any way that the slowdowns you’re seeing in parts of the world are a result of trade tensions at the moment,” Mnuchin said on the sidelines of the G-20. Trump is expected to meet with President Xi Jinping of China in late June. Talks fell apart last month, with Trump accusing China of reneging on a trade deal and China insisting the United States was not negotiating in good faith. Tensions have since increased as Trump has threatened to tax nearly all Chinese imports. — NEW YORK TIMES

Advertisement



TECHNOLOGY

Microsoft wants more security researchers to hack into its cloud

Microsoft has a request: Please try to hack into Azure more often. The company isn’t encouraging malicious attacks but it wants security researchers to spend more time poking holes in its flagship cloud service, so the company can learn about flaws and fix them. Many so-called white hat hackers do this for the company’s older products like Windows and Office but there aren’t enough working on Azure, Microsoft said. It’s taking several steps to change that, including explicitly stating it won’t take legal action against researchers and creating a game-like rewards system that gives successful bug-finders perks and bragging rights. It’s an issue Microsoft needs to address as it bets big on cloud services for revenue growth. The shift to cloud computing is changing cybersecurity. A big risk is that Microsoft now runs services for customers in its cloud, which means the software giant must protect them. Cloud security requires new tools and techniques but enables companies like Microsoft to track and analyze vast amounts of data to find malicious actors and scan networks of hundreds of thousands of customers so it can see attacks materialize. The hope is that sharing data, tools, and techniques publicly will help everyone better fend off attackers. — BLOOMBERG NEWS

Advertisement



FISHERIES

Bioengineered salmon won’t come from US’s biggest farm state

Genetically engineered salmon is heading to US store shelves, but it won’t be coming from the biggest salmon-farming state in the country. AquaBounty Technologies, of Maynard, has said supermarkets could begin selling the much-debated fish by the end of 2020. Its Atlantic salmon are modified with genes from other fish to grow about twice as fast as conventional salmon. Maine is the biggest US producer of conventional Atlantic salmon, sometimes producing more than 35 million pounds per year. Two new salmon farms are in the approvals process in the state. But fish farmers in Maine are not considering using the genetically engineered fish, said Sebastian Belle, executive director of the Maine Aquaculture Association. Numerous conditions would have to be met before that would change, including customers requesting the fish in stores, he said. The group also feels the environmental assessment of the fish conducted by regulators was not rigorous enough, Belle said. ‘‘We have no interest in growing GMO salmon, but we reserve the right to reassess that position,’’ Belle said. AquaBounty’s salmon is the first genetically modified, or GMO, animal to be approved for human consumption. It has become a touchstone for the international debate about genetic engineering and food. — ASSOCIATED PRESS