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House Opens Tech Antitrust Inquiry With Look at Threat to News Media

WASHINGTON — A congressional investigation into the power of big tech companies began on Tuesday with bipartisan concern from lawmakers that the government’s lax oversight of the industry may be doing more harm than good.In its first hearing about the power held by Google, Facebook, Amazon and Apple, lawmakers focused on the decline of the news industry. They said they were troubled that the online digital advertising market, which is dominated by Google and Facebook, had siphoned off too much revenue from news organizations.“Concentration in the digital advertising market has pushed local journalism to the verge of extinction,” said Representative David Cicilline, a Democrat from Rhode Island.The…

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Equities fall with yields as trade optimism fades

NEW YORK (Reuters) - Wall Street’s indexes lost some ground on Tuesday afternoon and U.S. Treasury yields dipped as worries about the U.S.-China trade war flared up and euphoria following Friday’s U.S.-Mexico deal faded. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., June 5, 2019. REUTERS/Brendan McDermidU.S. 3-year Treasury yields dipped on strong demand at an auction of $38 billion worth of new notes and benchmark 10-year note yields were virtually unchanged from the previous session. A U.S.-Mexico trade and immigration agreement announced Friday had prompted a Monday rally that carried over to Tuesday morning in part…

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Trump defends tariff strategy, China says ‘not afraid’ of trade war

WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump on Tuesday defended the use of tariffs as part of his trade strategy while China vowed a tough response if the United States insists on escalating trade tensions amid ongoing negotiations. Workers load goods for export onto a crane at a port in Lianyungang, Jiangsu province, China June 7, 2019. REUTERS/Stringer The United States kicked off a tariff battle with China in 2018, seeking sweeping structural changes from Beijing. But tensions between Washington and Beijing rose sharply in May after the Trump administration accused China of reneging on promises to make structural economic changes during months of trade talks. “Tariffs…

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Wall Street inches lower after string of gains

NEW YORK (Reuters) - U.S. stocks edged lower in late afternoon trading on Tuesday, as investors paused following a run of gains tied to optimism over easing trade tensions and the prospect of an interest rate cut by the Federal Reserve. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., June 3, 2019. REUTERS/Brendan McDermidIndustrials and utilities indexes led the way lower, while a decline in technology stocks, including Microsoft Corp and Adobe Inc, added pressure. Investors may be reluctant to push stocks higher without a fresh catalyst for support, some strategists said. Early enthusiasm for stocks was…

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Mexico reveals border infrastructure plan; Trump vows migration deal details

MEXICO CITY (Reuters) - Mexico must significantly improve border infrastructure on its southern frontier with Guatemala to succeed on its deal with the United States to reduce migration, Mexico’s foreign minister said on Tuesday. Central american migrants cross the Suchiate river from Tecun Uman, in Guatemala, to Ciudad Hidalgo, as seen from Ciudad Hidalgo, Mexico, June 11, 2019. REUTERS/Jose CabezasOver the past few days, Marcelo Ebrard has gradually announced more commitments made to stave off a threat of tariffs by U.S. President Donald Trump, who on Tuesday reiterated that parts of last week’s deal were yet to be revealed. Speaking at a regular government news conference, Ebrard…

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U.S.-Mexico migrant deal includes regional asylum plan: document

WASHINGTON (Reuters) - The U.S.-Mexico migration agreement reached last week includes a regional asylum plan and Mexico’s commitment to examine and potentially change its laws, according to a copy held up to journalists by President Donald Trump on Tuesday. The deal lays out “a regional approach to burden-sharing in relation to the processing of refugee status claims to migrants,” the document said. A Reuters photograph of the folded document, taken as Trump held it up, allowed reporters to read parts of it. The deal averted escalating import tariffs of 5% on Mexican goods, which Trump had vowed to impose unless Mexico did more to curb migration. Trump…

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U.S. Senate intelligence panel to interview Donald Trump Jr. on Wednesday: source

FILE PHOTO: Donald Trump Jr. listens to his father U.S. President Donald Trump speak during a visit to Lake Okechobee and the Herbert Hoover Dike in Canal Point, Florida, U.S., March 29, 2019. REUTERS/Joshua Roberts/File PhotoWASHINGTON (Reuters) - Donald Trump Jr., the eldest son of U.S. President Donald Trump, will be interviewed on Wednesday by the Senate Intelligence Committee, a congressional source said on Tuesday. The closed-door appearance is expected to cover a broad array of topics, including what Trump Jr. knew about a Trump Tower project in Moscow and a June 2016 meeting at which Trump Jr. and election campaign advisers Jared Kushner and Paul Manafort…

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U.S. House to vote on power to sue Trump advisers who ignored subpoenas

WASHINGTON (Reuters) - Democratic lawmakers would gain clear authority to sue Trump administration figures including former White House Counsel Don McGahn to enforce ignored subpoenas under a measure set to come to a vote in the U.S. House of Representatives on Tuesday. FILE PHOTO: White House Counsel Don McGahn sits behind U.S. President Donald Trump as the president holds a cabinet meeting at the White House in Washington, U.S. June 21, 2018. REUTERS/Jonathan Ernst/File PhotoIn an escalation of wide-ranging probes of President Donald Trump and his inner circle, Democrats who control the House are expected to approve the measure authorizing House committees to file lawsuits in federal…

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Planned Parenthood sues U.S. to block rule that may limit abortions

NEW YORK (Reuters) - Planned Parenthood and other nonprofits offering family planning services sued the Trump administration on Tuesday to block a new federal rule letting healthcare workers refuse abortions and other services because of religious or moral objections. FILE PHOTO: A sign is pictured at the entrance to a Planned Parenthood building in New York August 31, 2015. REUTERS/Lucas Jackson/File PhotoThe two lawsuits filed in Manhattan federal court said enforcing the “conscience” rule would encourage discrimination against women, minorities, the poor, the uninsured, and lesbian, gay, bisexual, transgender and queer people by curbing access to legal healthcare procedures, including life-saving treatments. They also said the rule,…

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Thousands brave rain in fresh protests against Hong Kong extradition bill

HONG KONG (Reuters) - Hong Kong braced for mass strikes on Wednesday after thousands braved thunderstorms overnight to stage fresh protests against a proposed extradition bill that would allow people to be sent to mainland China for trial. Hong Kong Chief Executive Carrie Lam said she would press ahead with the legislation despite deep concerns across large swathes of the Asian financial hub that on Sunday triggered its biggest political demonstration since its handover from British to Chinese rule in 1997. Thousands more from across various sectors in Hong Kong were expected to join the protesters early on Wednesday as businesses across the city prepared to go…

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