Good morning and happy Juneteenth weekend. Here’s what you need to know in business and tech news for the week ahead. — Charlotte Cowles
What’s Up? (June 13-19)
Not Messing Around
Let the trustbusting begin! Lina Khan, who has long criticized the market dominance of Amazon, Facebook, Google and other Silicon Valley behemoths, is now in charge of regulating them after she became the youngest-ever chair of the Federal Trade Commission on Tuesday. The next day, the Justice Department filed its first antitrust lawsuit since President Biden took office. The action aims to block the merger of two of the country’s largest insurance brokers, Aon and Willis Towers Watson, and argues that their combination would “eliminate substantial head-to-head competition and likely lead to higher prices and less innovation.”
At the conclusion of his first summit with President Vladimir V. Putin of Russia, President Biden declared, “I did what I came to do.” Namely, he told Mr. Putin to cut out the cyberattacks that Russian crime organizations — and, in some cases, the Russian government — have been inflicting on American companies and agencies with increasing frequency. (Mr. Putin denied that Russia was behind the attacks, despite much evidence to the contrary.) Mr. Biden drew a line in the sand by stating that infrastructure was “off limits” to hackers during peacetime, and the pair agreed to discuss the matter further. Progress?
And just like that,…