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US govt, states bring antitrust action against Facebook

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WASHINGTON – Federal regulators asked Wednesday for Facebook to be ordered to divest its Instagram and WhatsApp messaging services as the U.S.

government and 48 states and districts accused the company of abusing its market power in social networking to crush smaller competitors.The antitrust lawsuits were announced by the Federal Trade Commission and New York Attorney General Letitia James.“It’s really critically important that we block this predatory acquisition of companies and that we restore confidence to the market,” James said during a press conference announcing the lawsuit.In its lawsuit, the FTC is seeking the separation of the services from Facebook, saying Facebook has engaged in a “a systematic strategy” to eliminate its.

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The economy is recovering, says President during meeting with professionals
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