The general counsels will shield their chief executives from the tough, interrogatory questioning expected during both hearings.
The general counsels will shield their chief executives from the tough, interrogatory questioning expected during both hearings.
SESTA is viewed by some as capable of fundamentally changing the internet. Many of the big tech companies are vociferously opposed, but feel as though they cannot reasonably object given the prima facie goal of the legislation.
Senator Warren’s objections have held up what was otherwise seen as a uncontroversial choice. In the meantime, the high-profile AT&T/Time Warner merger is being reviewed without the expertise of a department head.
The current administration seems unwilling to fully commit to any regional trade deal as RCEP and TPP continue to plow ahead in the Pacific. Sunset provisions are innately antithetical to trade agreements as they create an aura of uncertainty unconducive to strategic investment.
The Trump era FTC offers a glimpse into its thinking – suggesting demonstrated misconduct, rather than its potential, will guide its action.
While still early, the tech industry may be past its honeymoon period and headed for a time of stricter scrutiny and regulation – something familiar to many large and longer established industries.
Chinese acquisitions of international IP have generated a number of next-gen innovations in recent months.
The U.S. can ill-afford to torpedo another relationship in the Pacific over trade – withdrawal from KORUS would accomplish just that – at the worst possible time.
PCV notes that Mr. Delrahim has broad bipartisan support – a sign that the holdup in his confirmation is about politics, not policy.
In his confirmation hearing, Makan Delrahim stressed that antitrust must follow a legal framework and not be used to protect domestic industry.
The statement will do little to dispel rumors of President Trump’s dissatisfaction with his top economic official following the latter’s public criticism of the equivocal response to the Charlottesville attack.
Decades of bipartisanship on antitrust has taken a backseat recently as consensus DoJ nominee, Makan Delrahim’s, has seen his confirmation grind to a halt.
Mr. Khosrowshahi was the dark horse candidate remaining in the race and will now take over a company whose board remains riven with discord.
The aftermath of the Charlottesville attack and foreign policy issues have sucked much of the attention away from a top priority for the Congressional GOP
The video, in Korean and so meant for a domestic audience, is unlikely to provoke much an official response.
As large swathes of the country languish in the last digital century, FCC Chairman Ajit Pai has vowed to make rural broadband a priority.
President Trump has vocally denounced several Republican Senators in recent weeks, complicating a relationship with the GOP majority that was further frayed by his reaction to the events in Charlottesville.
The President’s recent public excoriation of Majority Leader is not likely to win him more fans in the Senate, where McConnell enjoys strong support from Republicans.
T-Mobile’s gambit to have the deal scrapped is likely to fall flat – the FCC has already scrapped an Obama era rule that initially blocked Sinclair’s bid.
Even without the extension, the proposal to roll back Title II regulation is already the most commented in FCC history – with the count reaching almost 20 million.
The American tech industry, which has historically been a magnet for skilled immigrants, is watching President Trump’s immigration rhetoric with apprehension.
The inquiry will focus on intellectual property violations that may have been committed by Chinese entities. Last week, President Trump took to his favorite communicative tool, Twitter, to chastise China for a perceived lack of action on North Korea.
The move comes as China has announced hundreds of billions of dollars of planned 5G investment in the last few months.
The move came in response to new sanctions on Russia, Iran, and North Korea overwhelmingly passing the Senate (98-2). The measures had previously passed the House in similarly veto-proof fashion.
Trump’s top anti-trust pick, Makan Delrahim, cleared the Senate Judiciary Committee in overwhelming bi-partisan fashion in early June. Previous administrations have had their top picks confirmed by the full body by the end of June.
There is a consensus by both Republicans and Democrats that the right way to proceed is with a one-time “deemed repatriation. ” However, the increasingly partisan environment may prevent even such bipartisan measures from proceeding.
Jack Ma of Alibaba is reportedly the driving force behind the largely private-sector meeting. On Wednesday the two countries government counterparts will meet for an economic policy discussion.
Net neutrality and rural broadband initiatives are expected to be the top items for discussion at Wednesday’s Commerce Committee hearing.
Japanese officials are particularly concerned that a failure to reach a deal on TPP will allow China’s proposed Regional Comprehensive Economic Partnership (RCEP) to gain steam. RCEP includes many countries involved in TPP talks but proposes significantly less stringent rules.
The Saudi government has stated that it wants to list 5% of Aramco at the enormous valuation of $2 Trillion.
Microsoft plans to invest in at least 12 projects over the next year. Rural broadband access is a priority for FCC Commissioner Pai.
The proposed deregulation has been a heated topic of debate since FCC Commissioner Pai’s ascension to the top post following President Trump’s inauguration.
The proposed rule deregulates the rates that can be charged for certain wireless services, including those used for credit card readers and ATM machines.
The meeting between the two leaders, linked for months in the media, lasted slightly over two hours, up from the scheduled 30 minutes.
Speaker Ryan’s preference for a Border-Adjustment-Tax (BAT) remains a major intra-party sticking point.
A number of Democratic Senators, as well as Republican Susan Collins, have also expressed skepticism about the benefits of the pending merger.
The GOP controlled House and Senate are feeling pressured to push through a significant achievement in the first year of President Trump’s term.
Trade growth is actually expected to continue this year, but warning signs abound.
Experts believe that, while many of the benefits of the automation of labor are there for the taking, there is a cultural inflection point that has yet to be reached, holding up its adoption.
The president overrode nearly all of his cabinet members to come to the decision.
The Bloomberg editorial team deliver prescient advice on the need for the two leaders to cooperate vis-a-vis both North Korea and Korus.
The measure which the President seemed to endorse is not in line with his traditional line on taxes and is vocally opposed by a number of House Republicans. However, a bill to enact such a measure passed the Senate in bi-partisan fashion in 2013.
The FTC is currently operating with only 2 of its 5 members due to the slow pace of the federal nomination process. The deal is one of a notable string of mergers to fall apart in the last year due to regulatory concerns – something to keep in mind given the looming Sprint/T-Mobile merger negotiation.
The Commerce Secretary used his speech to echo the president’s unhappiness with Germany’s large trade surplus with the United States. President Trump is set to arrive in Germany for the G20 Summit just next week, where he may well receive further backlash for his protectionist views.
Makan Delrahim, Trump’s top antitrust pick, has not commented on the matter but recently cleared his Judiciary Committee nomination hearing by a broad and bi-partisan margin.
The Go Act fits in nicely with Chairman Pai’s push to expand rural broadband to under-served rural areas, a key need if the benefits of the high-tech economy are to spread.
PCV notes that the meeting did not touch on corporate mergers, the top item on the docket for telecom execs. While Trump’s top antitrust pick, Makan Delrahim, enjoys wide bipartisan support, more direction from the top is desired.
PCV personally attended a special session on what Chinese investors are looking for in terms of foreign opportunities. Assistance handling tax and red tape related barriers was high on the list of requests. Not to be ignored, however, was the trouble Chinese companies, especially small and medium sized businesses, have overcoming cultural barriers.
Uber is missing a slew of key C-Suite executives and must answer lingerings questions as to how it plans to mitigate steep losses incurred due to incentives to keep drivers on the road.
PCV is on the scene at the SelectUSA investment conference outside Washington, DC. The largest event of its kind, SelectUSA is host to investors, companies, officials from across the globe. Updates after the jump.
The first effects of President Trump’s incendiary trade rhetoric may be starting to appear. Watch NAFTA negotiations for hints towards the administration’s trade priorities as they look next to Asia.
The slow and steady nature of the recovery projects well for the future. Hopes for deregulation have also spurred some growth in the last months.
Expanding rural broadband connections is a priority for FCC Commissioner Ajit Pai, who views expansion of this critical digital infrastructure to be a vital step to integrating far flung regions of the country with the modern economy.
Reaction to Ms. Rosenworcel’s nomination has been almost universally positive. Her confirmation will free up bi-partisan legislation, including the MOBILE NOW Act (5G Spectrum), to move through the Senate after a long delay
Former Commissioner Rosenworcel may fill the open Dem seat or replace current Commissioner Clyburn’s slot when her term ends at the end of June.
Mostly modest effects on global markets are expected.
Official objections to the licensing of nearby radio frequencies have historically been used as a delaying tactic meant to prevent competition.
The claim received immediate push-back from Press Secretary Sean Spicer, a close Preibus ally. Earlier claims about the imminent ouster of the Chief of Staff have passed without any action taking place.
PCV notes that the two floated nominees fall on opposite sides of the simmering net neutrality debate.
The council’s founding mission is to oversee a total revamp of government IT and digital services. Many Silicon Valley giants, who have clashed with President Trump over the past months, are slated to take part.
As Netflix refuses to disclose viewership information comparable to Nielsen ratings, it is difficult to predict when the streaming giant will choose to give up on a production.
Mr. Case has attracted considerable attention from both sides of the aisle for his quest to distribute the benefits of the America’s high-tech economy to areas outside the usual confines of Silicon Valley and News York City.
Many of these panels are now unable to take action unless the Democratic and Republican members agree, effectively stalling their work.
Mr. Delrahim sailed through the Senate Judiciary Committee 19-1. Senator Whitehouse of Rhode Island was the sole holdout.
Dissenting filings, due by June 7, have already been sent in by Sinclair, Tribune, Fox, and Ion.
PCV notes that, were President Trump to renege on the accord, it would constitute the second major international partnership he pulled the U.S. from. President Trump pulled out from the TPP trade deal on his first day in office.
President Trump’s comments about the German-American trade relationship will not encourage those who hoped he might move past his campaign rhetoric on trade. His actions here contrast with his rhetoric on China, which has moderated significantly since his election.
A successful communications reset would likely allow a GOP controlled government some leeway to speed up work on legislative priorities. How influential the shakeup will be remains to be seen, as President Trump ultimately enjoys communicating with the public directly through social media and rally-style events.
PCV notes the Mr. Delrahim did not comment on the potential Sprint/T-Mobile merger, saying that he had not sufficiently reviewed the state-of-play in the wireless industry.
The burgeoning live-streaming industry continues to project impressive growth – with experts estimating year-on-year rise from 9.6 billion hours watched in 2016 to 11.4 Billion hours in 2017.
PCV notes that President Trump has at times vacillated between calling for a tweak or a tear-down of the landmark agreement. Progress on NAFTA will likely signal the administration’s plan for approaching trade in other regions.
Her proposed legislation has not sat well with tech giants like Google, Amazon, and Facebook.
Also of note – a plan to reduce the Fed’s asset holdings, a key component of its as-to-now strategy of keeping borrowing costs low, was presented by staffers and viewed favorably by nearly all board members.
President Trump’s Top Antitrust Pick Is Expected to Sail Through The Judiciary Committee and, later, the Full Senate.
LeEco bought Vizio last year for $2 billion to establish an immediate American presence.
Backlash on the healthcare front and continuing drama in the Trump White House threaten GOP priorities despite their electoral dominance.
PCV notes that the Iowa Governor has a long standing relationship with President Xi but has promised to press China on North Korea and trade.
The Senate Judiciary Committee will hold a vote on the nomination of Makan Delrahim to lead the DoJ’s antitrust division. Mr. Delrahim would be in charge of reviewing all M&As, including the AT&T/Time Warner mega-merger. A link to a live stream will be available on Thursday here.
PCV notes that Senator John Thune (R-SD), Chairman of the Commerce Committee, has called for a legislative fix to end the debate.
PCV notes that by making Saudi Arabia his first trip, President Trump sends a message as to his preferred Middle Eastern partner.
The negotiation is considered a preamble with both sides jockeying to get a first win and set the tone. NAFTA negotiation may also provide insight to the Trump administration’s strategy in other regions.
PCV notes that the vote is expected to fall along party lines and will set off months of lobbying as broadband providers and web companies square off in DC.
FCC Chairman Ajit Pai told AEI earlier this month that he didn’t “claim to know in a vacuum what the optimal market structure of any particular marketplace is — what the right number of competitors should be.” This is a marked contrast from the approach of his predecessor, Tom Wheeler, who felt strongly about the need for 4 major players in the wireless market.
PCV notes that by making his first official foreign trip to Saudi Arabia, President Trump clearly shows his priority for partner in the Arab world. Saudi Arabia has made a concerted effort to establish a positive relationship with the inner circle of the administration after disillusionment with President Obama, a strategy that has come through in spades.
Keep an eye on how NAFTA negotiations play out as they will likely give insight into the administration’s trade strategy for other regions, such as the Asia Pacific.
FCC Chairman Ajit Pai is in favor of the reversing the ruling, which was handed down last Summer and is suspended as the court reconsiders the case. PCV notes that the FCC would like to go further, stripping ISPs of their common carrier classification and giving the FTC more power to police them.
PCV notes that President Trump’s nominee to lead the DoJ’s antitrust efforts, Makan Delrahim, has stated that international antitrust enforcement will be one of his priorities.
While the agreement doesn’t constitute a trade breakthrough for the world’s two largest economies, early successes can only ease the process of future negotiation.
The deal comes after Verizon almost doubled a previous AT&T offer. Straight Path has licensed high-frequency radio waves that many think are the future of mobile networks. Shares in the 9 man company jumped from $35 in March to over $220 yesterday at market close.
While trade is officially off the agenda after disagreements at the last meeting in March, 1 on 1 meetings on the subject are expected. How the Trump administration deals with some of its largest partners may lend insight into its approach in other parts of the globe.
Trump’s pick to rule on M&As will go before the Senate Judiciary Committee this morning.
Pending mega-mergers such as AT&T/Time Warner and Dow Chemical/DuPont will be on Mr. Delrahim’s docket.
The news could increase the pressure on Verizon to make an acquisition that would ease their reliance on the wireless industry.
Don’t miss the full text of Recode’s interview with FCC Chairman Pai. In it he spells our his views on net neutrality and M&As.
Other tech leaders such as Tencent’s Pony Ma have noted their belief that advanced manufacturing will lead the next wave of global growth.
Chairman Pai argued that a regulatory framework must protect an open internet while also preserving the incentive to invest in networks.
Rep. Fred Upton’s refusal to back the bill lends cover to other opposed centrists. PCV notes that the emergence of the ‘Tuesday Group’ Republicans as legislative kingmakers will likely moderate some of President Trump’s other proposed initiatives.
The failure to get repeal passed perhaps brings into question President Trump’s ability to use his bully pulpit to move forward on other signature initiatives.
Watch any wrangling over NAFTA closely as the Administration’s priorities in that arena may shed light on the strategy they will pursue in the Asia Pacific.
The proposed rollback pits the telecom and tech industries against one another, with the former applauding the move and the latter decrying it.
“I’m disappointed we couldn’t go forward with Mr. Delrahim’s hearing,” Chairman Grassley said.
Don’t miss the NYT interview with Makan Delrahim, Trump’s Justice Department pick to rule on major upcoming M&As.
PCV believes these questions are part of a normal examination of a nominee for this or a similar position. They’re not surprising or novel.
PCV notes the negotiating points that will be used on both sides of the debate on the deal.
PCV believes that the President’s commitment to attend these ASEAN meetings further underscores the White House focus and importance planced on the region. Keeps the ASEAN narrative flowing.
PCV believes the “sleeper” FCC item is the rollback of the UHF discount rile that limited broadcast ownership. Epect a wave of potential M&A activity in the broadcast space.
PCV believes the FCC Chairman is committed to broadcast rule modifications that reflect an updated view of voices in the digital marketplace. Not mentioned, but worthy to remember, is the Chairman’s longtime support of relaxing equally outdated foreign ownership restrictions for the US broadcast industry.