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
Both companies report earnings on Aug. 8, so the CBS and Viacom boards have set that as a natural deadline to agree to a merger. Price won't be discussed by the companies...Technologyread 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
* Competition regulator issued enforcement order on June 24
* Order gives CMA time to consider formal investigation
* Amazon led $575 million fundraising in Deliveroo in May (Adds CMA statement)
July 5 (Reuters) - Britain's competition regulator has stepped in to pause Amazon's investment in online food delivery group Deliveroo while it considers launching a full investigation.
Amazon led a $575 million fundraising in Deliveroo in May, making what the two parties called "a minority investment" and going up against Uber Eats in the global race to dominate the market for takeaway meal deliveries.
On Friday Britain's Competition and Markets Authority (CMA) said it served an initial enforcement order (IEO) on the two companies on June 24, signalling possible concerns about the transaction.
The regulator, which referred to Amazon's investment as "a minority shareholding" said it had reasonable grounds for suspecting that Amazon and Deliveroo "have ceased to be distinct" or were putting in place or considering arrangements which would result in them "ceasing to be distinct".
The order requires Amazon and Deliveroo to operate independently for now, meaning they cannot press ahead with the tie-up. It gives the regulator time to decide if it will launch a formal "Phase 1" competition probe.
The Deliveroo investment is Amazon's latest attempt to enter the takeaway delivery market, worth around $100 billion globally, after it shut down its own service, Amazon Restaurants, first in the UK and then last month in the United States.
Deliveroo said it and Amazon had been working closely with regulators to obtain their approval. The two companies will argue that the investment will help Deliveroo grow its coverage, increase competition and boost the restaurant sector.
"We believe this minority investment will enable Deliveroo to expand its services, benefiting consumers through increased choice and creating new jobs as more restaurants gain access to the service," Amazon said in a statement.
Deliveroo noted that it was competing with a number of major companies in the sector and that the investment would help to create jobs and restaurants to expand.
IEOs do not prevent parties from continuing to talk to each other, but typically do prevent the transfer of key staff or the transfer of commercially sensitive information.
If the CMA were to undertake an investigation and find competition concerns then the companies could offer undertakings to try to address those concerns. That process could be compromised if the companies had already merged financially.
Neither Deliveroo or Amazon have disclosed a figure for Amazon's funding contribution.
Deliveroo competes in Britain with Just Eat and with Uber Eats which is also present in North America, South America, Europe, Asia and Africa. It also competes in Europe with Takeaway.com and Delivery Hero.
Headquartered in London, Deliveroo uses 60,000 riders dressed in black and teal jackets to deliver meals from more than 80,000 restaurants and takeaway outlets in 14 countries including France, Germany, Hong Kong, Singapore and Kuwait.
Since former lawmaker Andrew Tyrie became chairman of the CMA a year a go, it has increasingly bared its teeth. In April it blocked supermarket group Sainsbury's 7.3 billion pound ($9.2 billion) takeover of rival Asda.
In April the regulator proposed some of the biggest reforms to auditing globally since the aftermath of the Enron scandal, while earlier this month it launched an investigation into the power wielded by Facebook and Google in digital advertising markets. ($1 = 0.7966 pounds) (Editing by Keith Weir)