Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
The Food and Drug Administration "stands ready" to start reviewing e-cigarettes amid a teen vaping "epidemic," acting Commissioner Ned Sharpless said Monday in a statement.Health and Scienceread more
The Guggenheim CIO says he had been approached by the White House about possibly joining the Federal Reserve.The Fedread more
Joe Lonsdale says his fellow Palantir co-founder Peter Thiel was "courageous" for speaking out against Alphabet's Google.Technologyread more
Wall Street analysts say it is increasingly possible the Trump administration will try using a stronger weapon in the currency wars than just presidential tweets.Market Insiderread more
In his prepared testimony for Tuesday's Senate banking committee hearing, Facebook's David Marcus tells lawmakers that the Libra currency will be secure.Technologyread more
sources say@ (Adds details)
WASHINGTON, May 22 (Reuters) - The U.S. Justice Department's antitrust division staff has recommended the agency file a lawsuit to block T-Mobile US Inc's $26 billion acquisition of smaller rival Sprint Corp, according to two sources familiar with the matter.
The final decision on whether to allow two of the four nationwide wireless carriers to merge now lies with political appointees at the department, headed by antitrust division chief Makan Delrahim.
Sprint share prices fell 6.2% in premarket trading.
The Justice Department is expected to make a final decision in about a month, the two sources said.
But while Justice Department staff balked at the merger, the Federal Communications Commission indicated on Monday that it had reached an agreement in principle with the companies to allow the deal after the companies agreed to sell Sprint's prepaid brand Boost Mobile.
Justice Department staff at the antitrust division, who remain in their jobs even when administrations change, have long been expected to be skeptical of the proposed merger.
They fear that after the deal T-Mobile will no longer aggressively seek to cut prices and improve service to woo customers away from market leaders Verizon Communications Inc and AT&T Inc. (Reporting by Sheila Dang and Diane Bartz; Editing by Chizu Nomiyama and Jeffrey Benkoe)