logo
Top Trump administration antitrust official faces criticism over approach, sources say

Top Trump administration antitrust official faces criticism over approach, sources say

Yahoo4 days ago
Washington — Internal friction with the Justice Department team that fights monopolies has led to private conversations in the Trump administration about whether to push out some staff in the antitrust division or to work to smooth out the issues, according to multiple sources familiar with the situation.
Gail Slater, who in March took charge of lawsuits against Capital One, Apple, Google and other major companies as head of the Justice Department's antitrust division, still has support from some top officials in the administration, but she and some on her team have been a target of criticism from colleagues and business leaders, sources inside and outside the administration told CBS News.
Slater was asked to come to a meeting at the White House on Thursday with other high-level administration officials, two of the sources said. The gathering, expected to focus on mergers policy, will include the Office of Budget and Management, the National Economic Council and the Federal Trade Commission.
There has been friction over the handling of investigations into T-Mobile, Hewlett Packard Enterprise and others, sources said. The antitrust division is one of two agencies that protects competition in markets by enforcing the antitrust laws that regulate mergers and business practices that harm consumers.
Slater, who entered her role in high regard in both MAGA circles and among left-leaning watchdogs, hasn't adopted a block-every-merger approach. But some Trump officials have vented that it has taken a substantial amount of internal push-and-pull to land on decisions to reach deals that resolve merger issues, three of the sources said.
Questions have risen inside the NEC, FTC, Federal Communications Commission and in other corners of the administration about whether President Trump's policies are Slater's priority, or whether she's forging her own policy agenda, the sources said.
Slater has also told companies not to try to engage with the administration via Trump-aligned lobbyists and consultants, several sources said. Frustration with that tack led business leaders to reach out to White House officials wondering why they were being told who they can hire, two sources said.
Sources said in one meeting between antitrust officials, Hewlett Packard Enterprise and a software company it was seeking to acquire, Juniper Networks, Slater told the business parties they should only work directly with Justice Department officials, not through outside consultants. HPE's consultants included Trump allies Mike Davis and Arthur Schwartz, who weren't in the room.
Attorney General Pam Bondi and her deputies are aware of some administration officials' tension with the antitrust division, sources said.
The Justice Department sued to stop Hewlett Packard Enterprise from buying Juniper in January, and the two sides settled the lawsuit in June, paving the way for the acquisition to close.
But multiple sources said Bondi's chief of staff, Chad Mizelle, had to overrule Slater to accept a Hewlett Packard/Juniper offer, which DOJ officials were confident was a better deal than what the government could've gotten at trial.
Some administration officials defended Slater as deeply principled and laudably untrusting of well-connected Trump allies who want to influence the outcome of confidential legal matters.
One source said Slater has repeatedly noted that she was confirmed by the Senate with 78 votes, more than almost any other Trump official other than Secretary of State Marco Rubio — a validation that she's well qualified for the role.
"Gail is a long-time friend and fellow seasoned antitrust lawyer," FTC Commissioner Mark Meador told CBS News in a statement. "She's been a fantastic partner as FTC and DOJ work together to fulfill our shared mission."
Some of Slater's supporters noted that unlike the Biden administration, which used as much time as it could statutorily to conduct investigations, Slater and her team have voluntarily closed investigations in a shorter window dozens of times.
And she has diverged from the Biden antitrust team's approach in other ways, another source said. The Biden team, for example, was going to recommend blocking a merger of Capital One and Discover, and Slater allowed it to go through.
Son of man who was violently detained by ICE reacts after release
Mike Johnson breaks from Trump, calls on DOJ to release Epstein files
7.3 magnitude earthquake hits southern Alaska
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Alan Dershowitz also said the convicted sex trafficker should be granted immunity to speak about her relationship with Epstein.
Alan Dershowitz also said the convicted sex trafficker should be granted immunity to speak about her relationship with Epstein.

Yahoo

time19 minutes ago

  • Yahoo

Alan Dershowitz also said the convicted sex trafficker should be granted immunity to speak about her relationship with Epstein.

Jeffrey Epstein's former lawyer thinks Ghislaine Maxwell should have her 20-year prison sentence commuted—and be given immunity to testify before Congress about the late financier. 'Ghislaine Maxwell is basically serving the sentence that Epstein would have gotten,' lawyer Alan Dershowitz told Newsmax's Sunday Agenda on Sunday. 'She should never be in jail for 20 years. What should happen is, she should be free,' Dershowitz continued. 'She should have her sentence commuted. She should then be called in front of Congress. Have Congress give her total immunity, and then she can tell everything she knows.'

The stock market is being led by a new group of winners
The stock market is being led by a new group of winners

Yahoo

time19 minutes ago

  • Yahoo

The stock market is being led by a new group of winners

The stock market is being led by a new group of winners originally appeared on TheStreet. For a while, the S&P 500's returns have been dominated by a select group of technology kingpins known as the Magnificent 7. Those seven stocks, Alphabet, Apple, Amazon, Microsoft, Meta Platforms, Nvidia, and Tesla, powered the market higher due to massive spending and demand growth for artificial intelligence training and remain key cogs in the S&P 500's performance, but more recently, a new basket of stocks is delivering big returns, potentially signaling the early days of a regime change. Unlike the Mag 7, the new leaders are far less tied to AI. Sure, names like Palantir and Nvidia remain big winners, but the broader group of stocks delivering eye-popping returns spans more industries, including finance and, yes, even space. Stocks jump on renewed optimism It's been a tale of two markets this year. First, stocks took a drubbing beginning in February when President Donald Trump launched his trade war, instituting 25% tariffs on Canada and White House followed that up with more tariffs, often higher than Wall Street and businesses expected, including a baseline 10% tariff on all imports and a 25% tariff on autos. Altogether, the tariff tit-for-tat took a big toll on stocks, causing the S&P 500 to fall by 19% — nearly into bear market territory — and the Nasdaq Composite to tumble about 24% through early April. Then, everything changed. President Trump paused most reciprocal tariffs on April 9, providing leeway for trade deals that could settle tariffs at more reasonable levels. The glimmer of hope for avoiding a worst-case scenario of high tariffs sparking inflation and sending the economy into a tailspin marked a bottom for stocks, kicking off a record-setting rally. The S&P 500 has marched 24% higher, while the Nasdaq has rallied by over 30% as more people have lowered their forward inflation expectations. While there's some concerning economic data on jobs and the economy, market gains suggest we'll sidestep an economic reckoning, providing upside to revenue and earnings growth. New stock market leaders emerge By now, most investors are familiar with market darlings Nvidia and Palantir, two of the most prominent AI players. Given its dominance in high-end AI semiconductor chips and optimization software, Nvidia is the de facto Goliath in AI network infrastructure. Palantir has become a go-to for securely developing AI apps for government and stocks have been top performers over the past few months, rising 82% and 107% from their early April lows. But other big-cap technology companies haven't performed nearly as well. Alphabet and Apple are up 28% and 23%, respectively. Solid, but not game-changing. You could have bought the Nasdaq 100 and done much better. Instead, a new set of stock market darlings has been outpacing the market, including space technology leader Rocket Lab () and fintech leader SoFi Technologies () . Cryptocurrency leader Coinbase () has also been a star. These three stocks are up 214%, 130%, and 176%, respectively, from their April lows. Moreover, to understand just how good the performance of this new basket of leaders has been, you need look no further than the VanEck Social Sentiment ETF () . The BUZZ ETF invests in "75 large cap U.S. stocks, which exhibit the highest degree of positive investor sentiment and bullish perception based on content aggregated from online sources including social media, news articles, blog posts, and other alternative datasets," according to VanEck. In short, it attempts to keep its finger on the pulse of the most interesting stocks. So far, that strategy is working. The BUZZ ETF gained 36% in the second quarter and is up 22% year-to-date through June. Meanwhile, the S&P 500 is up 11% and 6%. It's up 66% since early April, and month-to-date through July 18, it's gained 8% versus a 2% return for the Nasdaq. More on next-generation stocks:"Look at how poorly the QQQs have done relative to BUZZ since April. Think about this, we consider the QQQs to be the pinnacle of technology stocks, yet they practically look like the healthcare stocks relative to the S&P when compared to BUZZ," wrote long-time technical analyst Helene Meisler on TheStreet Pro. It's not just Rocket Lab, Coinbase, and SoFi powering the ETF, either. Yes, those are the three largest holdings in BUZZ, but AST SpaceMobile and Robinhood () are number four and five, and they've been up 186% and 219% since early April. Nvidia and Palantir are only BUZZ's 10th and 11th biggest holdings, so while their gains are substantial, they're not the ones behind the ETF's significant outperformance. Does the rise of Rocket Lab, thanks to a steady stream of revenue growth from shooting satellites into the sky, or SoFi, which is increasingly disrupting traditional banking, signal the rise of a new guard, or is it just a temporary speculative frenzy? "I was taught that corrections are the market's way of changing leadership," wrote Meisler. "Was the spring plunge the market's way of changing leadership? Or is this just speculation run amok? If you go back to that ratio chart, it's a trend that has been in place for at least a year." Of course, stocks don't go up in a straight line, and some backfilling of gains for this new group of winners is to be expected. Still, one year is a pretty long period for this ETF and its biggest components to outpace the broader market. Todd Campbell owns Rocket Lab, SoFi Technologies, Nvidia, and stock market is being led by a new group of winners first appeared on TheStreet on Jul 20, 2025 This story was originally reported by TheStreet on Jul 20, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Guardians president responded to Trump's random tirade about name change
Guardians president responded to Trump's random tirade about name change

Yahoo

time19 minutes ago

  • Yahoo

Guardians president responded to Trump's random tirade about name change

At this present moment in time, you might think Donald Trump would realize he has bigger fish to fry than ranting and raving about professional sports teams changing their nicknames to decidedly non-racist labels. And, well, you'd probably be right. But that didn't stop the 47th U.S. President from going on an arbitrary (and pretty nonsensical, with all things considered) diatribe about how American sports teams like the Washington Commanders and Cleveland Guardians should revert back to their old, decidedly racist nicknames. Somewhere along the way, Trump invented the concept of an "original six" in baseball out of thin air (which doesn't exist and is actually an NHL concept) to invoke the Guardians, for which an "original six" label wouldn't even apply. Again, it seems like Trump may be brazenly trying to drum up some sort of cannon fodder grievance to distract from other, more pressing issues. I mean, I'm just saying that I wouldn't rule it out, is all. Shortly after Trump's Sunday morning shot in the dark, er, I mean, testimonial, Guardians president Chris Antonetti responded to his reference about the franchise's name. In short, Antonetti politely declined, citing an "opportunity to build the [Guardians'] brand" while being "excited" for the future. You know what the amusing kicker is here? It would take years for the Guardians, or anyone in a similar position, to go back and earnestly rebrand. It's not as if it's some overnight, effortless operation that can be done on someone's whim. How long have the Cleveland Guardians had their current nickname? After years of backlash, in late 2020, the Guardians revealed they would drop their old "Indians" nickname after the conclusion of the 2021 season. They have been the Guardians ever since. It was the eighth official name change in franchise history for an organization that officially started as the Columbus Buckeyes/Senators in 1896. It was the fifth name change since they started calling Cleveland home in 1900. This article originally appeared on For The Win: Guardians president politely declines Donald Trump's demand for name change

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store