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2018年12月6日 星期四

Overnight Energy: Senate confirms controversial energy pick | EPA plans rollback of Obama coal emissions rule | GOP donor gave Pruitt $50K for legal defense

 
 
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SENATE CONFIRMS CONTROVERSIAL NOMINEE: The Senate confirmed President Trump's pick for a key energy agency Thursday over Democrats' objections that he is too biased for the job.

The 50-49 vote along party lines means Bernard McNamee, a Republican and former high-ranking political official at the Energy Department under Trump, can take his spot on the five-person Federal Energy Regulatory Commission (FERC).

GOP Sen. Thom Tillis (N.C.) was absent from the floor vote.

Why Democrats opposed McNamee: McNamee's history in the Trump administration and working for the conservative Texas Public Policy Foundation have raised significant objections from Democrats that he can't live up to the expectation that FERC commissioners should be independent and neutral when it comes to energy fuel sources.

He has been an outspoken advocate of fossil fuels, harshly criticized renewable energy and cast doubt on the science of climate change, including in a video of a speech that surfaced in recent weeks. McNamee also served a key role in pushing the Trump administration's ongoing attempts to bail out coal and nuclear power plants.

"He has lied about how the renewable energies impact the electric grid. He has called support for clean energy 'organized propaganda,' and pitched the debate between fossil fuels and renewables in his words as a clash between liberty and tyranny," Senate Minority Leader Charles Schumer (D-N.Y.) said on the Senate floor Thursday before the vote. "My Republican friends, these words sound absurd."

"At a time when average Americans are feeling the devastating effects of climate change right now, we should not elevate someone so biased in favor of fossil fuels that caused these problems in the first place," he added.

The GOP view: To Republicans, McNamee is a highly qualified candidate who knows how to keep his personal opinions in check.

"His obvious qualifications and his commitment to fairness and impartiality earned him a bipartisan vote out of the Energy and Natural Resources Committee last month with a favorable recommendation," said Senate Majority Leader Mitch McConnell (R-Ky.).

A notable vote flip: That bipartisan committee vote was due to Sen. Joe Manchin (D-W.Va.), who told McNamee in his confirmation hearing that he supports his past statements on fossil fuels and coal.

But Manchin voted against his confirmation due to the video, first published by Utility Dive, and McNamee's apparent doubt of climate change science.

"After viewing video footage, which I had not previously seen, where Bernard McNamee outright denies the impact that humans are having on our climate, I can no longer support his nomination to be a FERC commissioner," Manchin said in a statement Wednesday, after voting against a procedural motion to move forward on the confirmation.

"Climate change is real, humans have made a significant impact, and we have the responsibility and capability to address it urgently," Manchin said.

Read more here.

 

Happy Thursday! Welcome to Overnight Energy, The Hill's roundup of the latest energy and environment news.

Please send tips and comments to Timothy Cama, tcama@thehill.com, and Miranda Green, mgreen@thehill.com. Follow us on Twitter: @Timothy_Cama, @mirandacgreen, @thehill.

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EPA TARGETS OBAMA-ERA GREENHOUSE GAS RULE: The Environmental Protection Agency (EPA) announced Thursday plans to roll back a 2015 rule that put strict limits on greenhouse gas emissions coming from coal plants -- a tweak the agency is labeling closer to "reality."

The change will significantly weaken the Obama-era rule in part as an effort to help jump-start new coal plant construction in the U.S.

The proposed revisions to the New Source Performance Standards (NSPS) would no longer mandate that plants meet the strict emissions goals of achieving emissions equal to or less than what plants would have achieved with carbon capture and storage (CCS) technology.

The Obama administration at the time saw CCS as a feasible future technology that was important to pulling carbon out of coal plant emissions at their source. Today the technology is not generally used commercially and is pricey.

EPA acting Administrator Andrew Wheeler called the Obama administration's focus on CCS "disingenuous."

"Their determination was disingenuous. They knew the tech was not adequately demonstrated, which is what was required under the law. This rule sets high yet achievable standards rooted in reality," Wheeler said at a press conference at EPA headquarters.

EPA Assistant Administrator for the Office of Air and Radiation Bill Wehrum called the old rule "wishful thinking."

"Today's actions reflect our approach of defining new, clean coal standards by data and the latest technological information, not wishful thinking," he said in a statement. "U.S. coal-fired power will be a part of our energy future and our revised standards will ensure that the emissions profiles of new plants continue to improve."

What will change: The new changes would limit coal plant emissions to 1,900 pounds of carbon dioxide per megawatt-hour produced, a level they say can be met with modern technology including efficient boilers.

The original rule had set the limit at 1,400 pounds.

Despite the higher level of carbon being allowed into the air under EPA's latest change, Wheeler told reporters that their study found it would "not result in significant [carbon dioxide] changes or costs."

Climate fight: When asked whether the new rule means the EPA is ignoring the Trump administration's latest report that declared that effects from climate change would result in unavoidable economic harm to the U.S, Wheeler pushed back.

"We're not ignoring the government report. We're still looking at the government report ourselves. We just got a briefing on it this morning from some of our career scientists," he said.

The report was released two weeks ago.

Read more here.

 

EPA THOUGH ISN'T EXPECTING ANY NEW COAL PLANTS: The agency itself said in the report that no new coal plants were likely to be built despite relaxed rule.

"Power sector modeling does not predict the construction of any new coal-fired EGUs," a footnote in the proposal reads, using the abbreviation for electric generating unit.

"Therefore, based on modeled impacts, any [greenhouse gas] requirements for new coal-fired EGUs would have no significant costs or benefits," the agency goes onto say, explaining its rationale for not doing a substantial cost-benefit analysis for the proposal.

"The modeling of the electricity sector EPA performed for this rule using the Integrated Planning Model (IPM) projects that, even under the emissions limits included in this proposal, new fossil fuel-fired capacity constructed through 2026 and the years following is expected to be natural gas capacity," the agency adds in an economic impact analysis released with the proposed rule.

Greenhouse gas regulation has just been one of many threats against coal in recent years. Its main enemy has been competition from cheap natural gas and renewable energy, as well as other environmental regulations that are still in place.

Nonetheless, the EPA is framing its proposal as one to undo an Obama administration attempt to snuff out new coal plants.

Read more here.

 

PRUITT GETS $50K FOR LEGAL DEFENSE FUND: Former EPA Administrator Scott Pruitt, who left the agency in July following numerous ethics controversies got one huge cash donation for his legal defense.

Pruitt received a $50,000 donation towards his legal defense fund -- a fund he set up for public donations to be used toward any lawyer fees he incurs stemming from investigations into his actions as EPA head.

Diane Hendricks, an American businesswoman and film producer from Wisconsin, donated the large sum in cash to Pruitt, according to his final financial disclosure form released Thursday. Hendricks has strong ties to the Trump administration and served as economics advisor to the Trump campaign. Hendricks was the only donor Pruitt disclosed.

A note from EPA's ethics office said that Pruitt did not seek advice from the office before accepting the donation from Hendricks. Ethics officials were also not aware of the donation until they received Pruitt's final termination report. They believe it was given to him in cash.

More on the fund here.

 

OUTSIDE THE BELTWAY:

Trump administration sued over giraffes and endangered species list

Largest continuous oil and gas resource potential ever is found in Permian Basin

Whales have worse than average year for entanglement in gear

 

IN CASE YOU MISSED IT:

Check out Thursday's stories ...

-GOP donor gave Pruitt $50,000 for legal defense

-EPA: No new coal plants likely to be built despite relaxed rule

-Eiffel Tower to close Saturday ahead of Paris protests

-EPA announces new plan to weaken Obama-era greenhouse gas rule

-Target to pay $7.4M after probe found it illegally dumped hazardous waste in California

-GOP senator: Arctic Ocean may be ice-free in summer within 20 years

-Senate confirms Trump's controversial energy pick

-Trump administration floats reduced protections for imperiled sage grouse

-California officials give final approval to requiring solar panels on new homes

-Poll: Two-thirds of voters concerned about Trump administration climate change report

-Manchin's likely senior role on key energy panel rankles progressives

 
 
 
 
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On The Money: Markets roiled by trade tensions | Rally on hopes of Fed pause on rate hikes | Senate sends two-week spending measure to Trump | Consumer bureau pick confirmed | Trade deficit at highest level since 2008

 
 
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Happy Thursday and welcome back to On The Money. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: slane@thehill.comvneedham@thehill.comnjagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @VickofTheHill, @NJagoda and @NivElis.

 

THE BIG DEAL--Markets roiled by trade tensions, then buoyed by hopes of Fed pause: The Dow Jones industrial average plunged more than 500 points early Thursday, the first day of trading after U.S. authorities secured the arrest of a Chinese technology company executive, fueling fears that the trade war with China is heating up.

News broke late Wednesday that Canadian law enforcement had arrested Meng Wanzhou, chief financial officer of Huawei Technologies, a major Chinese tech firm that has been linked to the Chinese military.

U.S. officials have requested her extradition, citing a suspected sanctions violation.

A Chinese Foreign Ministry official on Thursday demanded Meng's release and called her detention a possible human rights violation.

The incident sparked fears that China could retaliate and that relations between the two economic superpowers will deteriorate despite what appeared to be progress between President Trump and Chinese President Xi Jinping at the Group of 20 summit (G-20) in Argentina over the weekend.

China's commerce ministry spokesman Gao Feng even praised the meeting on Thursday and expressed confidence that a trade deal can be reached within the 90-day time frame, according to Reuters.



But stocks slowly gained ground throughout the afternoon, and shot higher soon after The Wall Street Journal reported that the Federal Reserve was considering holding off on further interest rate hikes after one final increase in December.

The Dow closed with a 79-point loss. The Standard and Poor's 500 index fell 0.15 percent while the Nasdaq Composite closed with a 0.4-percent gain after both fell sharply Thursday morning.

Stocks have taken heavy losses throughout the end of 2018, due in part to rising interest rates triggered by Fed rate hikes. Rising borrowing costs tend to narrow corporate profit margins and slow stock market activity. 

Analysts pinned Thursday's slide on fears of growing U.S.-China trade tensions and an impending economic slowdown.

 

The U.S. trade deficit rose nearly $1 billion in October, reaching the highest level in a decade as imports outpaced declining exports, according to federal data released Thursday.

The gap in value between what the U.S. sells to and buys from foreign nations rose to $55.5 billion in October, the fifth consecutive monthly increase in the country's trade deficit in goods and services, according to the Commerce Department.

October's trade deficit was the biggest since the gap reached $60.1 billion in October 2008. The deficit, a crucial focus of Trump's protectionist trade agenda, has risen 11.4 percent since October 2017.

The Trump administration is also asking Beijing to drop tariffs on U.S. autos, open up markets to foreign investors and halt intellectual property theft from U.S. manufacturers and tech firms.

 

LEADING THE DAY

Trump runs into GOP opposition with NAFTA threat: Congressional Republicans are warning President Trump not to withdraw from the North American Free Trade Agreement (NAFTA) with Mexico and Canada as he attempts to push through an updated version of the deal.

"I hope he doesn't do that. I think that'd be a big mistake," said Sen. John Thune (R-S.D.), who will become the No. 2 GOP senator in the next Congress. 

"The president does not have the legal authority to unilaterally withdraw the United States from NAFTA," Sen. Pat Toomey (R-Pa.) said, adding that "there would be significant negative repercussions if he attempts to."

Trump threatened to withdraw from the decades-old free trade deal in a tweet on Saturday that served as a form of pressure on the Democratic House to agree to the updated agreement, known as the U.S.-Mexico-Canada Agreement (USMCA).

"I'll be terminating it within a relatively short period of time," Trump said Saturday of NAFTA.

If Trump did so, old trade rules and tariffs from before NAFTA was implemented would go back into place, likely raising costs for businesses and consumers in the United States. The Hill's Niv Elis explains why here.

 

What's going on?

  • Trump has previously threatened to rip up NAFTA, alarming Republicans, some of whom said it would go beyond Trump's presidential powers.
  • Toomey wrote a Wall Street Journal op-ed in May telling Trump not to "blackmail" Congress with a NAFTA withdrawal, saying it would be "economically harmful and unconstitutional." 
  • Those complaints also undermine Trump's strategy for using the threat as leverage against Democrats, who are demanding changes to the deal to win their approval. Democrats will control the House in January and there is virtually no chance that lawmakers will approve implementing legislation for the NAFTA replacement in the lame-duck Congress over the next two weeks.



What might happen?

  • Other Republicans are less certain on Trump's authority, but fear the presidents' cancellation of the deal would derail the economy by plunging the world into legal uncertainty.
  • The economic worries are another reason some observers don't believe that Trump would follow through on this threat, though he has often followed through on fiery trade rhetoric with actions.
  • "You wanna tank the stock market and knock a point or two off of [gross domestic product], you just get rid of NAFTA," said Sen. John Kennedy (R-La.).

 

Senate confirms Kraninger to lead consumer bureau in partisan vote: The Senate on Thursday confirmed Kathy Kraninger to be director of the Consumer Financial Protection Bureau (CFPB), granting her a five-year term to lead the polarizing watchdog agency.

Senators voted 50 to 49 along party lines to approve the nomination of Kraninger, an associate director at the White House Office of Management and Budget. The Senate ended debate on Kraninger's nomination last week by the same 50-49 margin.

As CFPB director, Kraninger will wield immense power and influence over U.S. banks, lenders and credit card companies. The agency's chief has sole control of the CFPB's budget and can unilaterally decide the bureau's enforcement of fair lending and consumer protection laws. I've got more here on the fierce partisan debate over her confirmation.



The fight:

  • Republicans have sought to curb the power of the CFPB, a politically polarizing agency, while Democrats have tried to defend its broad authority to crack down on predatory lending and other abusive behaviors.
  • Kraninger is seen as close to White House budget chief Mick Mulvaney, who's drastically curtailed the CFPB's oversight powers as its acting director since November 2017. Trump nominated Kraninger in June to succeed Mulvaney, who quickly rallied GOP senators in support of her confirmation.
  • Senate Democrats have seized on Kraninger's ties to Mulvaney and her lack of expertise in financial rules in their unanimous opposition to her nomination. Democrats across the political spectrum have blasted Kraninger as an unqualified crony determined to derail the consumer watchdog.



Reactions:

  • "I call on Director Kraninger to put consumers first by rolling back the anti-consumer actions taken by her predecessor and allowing the Consumer Bureau to resume its work of protecting hardworking Americans from unfair, deceptive or abusive practices." -- Rep. Maxine Waters (D-Calif.), the ranking Democrat on the House Financial Services Committee.
  • "The American consumer and our economy's financial sector will benefit from her commitment, expertise, and professionalism." -- Acting CFPB Director and full-time White House budget director Mick Mulvaney.
  • "The mission of the CFPB is far too important to be put in the hands of someone who lacks candor and experience at such a fundamental level." -- Karl Frisch, executive director of Allied Progress, a liberal non-profit.
  • "I am confident that with her experience and knowledge of budget management, Kathy will excel as Director." -- Rep. Jeb Hensarling (R-Texas), chairman of the House Financial Services Committee.
  • "Kathy Kraninger's inexperience and endorsement of Mulvaney's destructive policies are gifts to bad financial actors who are hell-bent on using their predatory business model to rip off vulnerable consumers, especially consumers of color." -- Yana Miles, senior legislative counsel at the Center for Responsible Lending.
  • "Kraninger's management experience, her years of work on Capitol Hill and leadership roles in the executive branch will help her run the Bureau efficiently and hold it accountable to the American people." -- Rob Nichols, president and CEO of the American Bankers Association.



Senate sends two-week funding measure to Trump: The Senate approved a two-week government funding bill on Thursday, sending the measure to the White House and pushing a fight over the U.S.-Mexico border wall up against the holidays.

The Senate passed the continuing resolution by a voice vote hours after it was approved in the House. President Trump will need to sign it by the end of the day Friday to prevent a partial government shutdown.

The resolution punts the funding deadline from Dec. 7 to Dec. 21, a week after Congress's initial get-out-of-town date of Dec. 14. The Hill's Jordain Carney tells us what comes next here. 



GOOD TO KNOW

  • Fiat Chrysler Automobiles NV plans to convert an abandoned engine production plant in Detroit into a new factory to produce sport utility vehicles, according to reports.
  • The top consumer protection official at the Federal Trade Commission (FTC) is barred from handling cases involving more than 100 different companies due to conflicts of interest from his prior work as a private sector attorney, according to documents obtained by the consumer group, Public Citizen.
  • The push to pay congressional interns $15 an hour is catching on with House progressives, with proponents arguing the move is necessary to ensure opportunities for people regardless of their socioeconomic status.

 

ODDS AND ENDS

  • Lyft has confidentially filed for an initial public offering (IPO), pulling out ahead of its ride-sharing competitor Uber in the race to go public.
  • Hotel chain Marriott says it will reimburse victims of a massive data breach at the company who had their passports and other personal information obtained by hackers.
 
 
 
 
 
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Hillicon Valley: Ecuador says 'road is clear' for Assange to leave embassy | Panel questioned Bannon on Cambridge Analytica | Trump aide says US knew in advance of Huawei executive's arrest | Judges grill DOJ lawyers on AT&T merger appeal

 
 
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Welcome to Hillicon Valley, The Hill's newsletter detailing all you need to know about the tech and cyber news from Capitol Hill to Silicon Valley.

Welcome! Follow the cyber team, Olivia Beavers (@olivia_beavers) and Jacqueline Thomsen (@jacq_thomsen), and the tech team, Harper Neidig (@hneidig). And CLICK HERE to subscribe to our newsletter.

 

ECUADOR SINGING 'THANK U, NEXT?':  Ecuadorian President Lenín Moreno on Thursday said "the road is clear" for Julian Assange to leave country's embassy in London, adding that he has been assured the WikiLeaks founder he would not face extradition to faces charges abroad.

The United Kingdom and Ecuador have been quietly discussing Assange's eventual departure from the embassy for months, The Associated Press reported.

"The road is clear for Mr. Assange to take the decision to leave," Moreno said during a radio show on Thursday, referencing a written assurance he had received from Britain, according to the AP.

Moreno added that Ecuador does not plan to force Assange out of the embassy, where he has been living since 2012. Assange fled to the embassy when U.K. courts ordered he be extradited to Sweden to be questioned in a sexual assault case, which has since been dropped.

WikiLeaks faces a U.S. grand jury investigation for publishing U.S. diplomatic and classified military information under Assange's leadership, and Assange has said that he is facing charges in the U.S.

The Department of Justice last month inadvertently revealed in an unsealed court filing that they have prepared charges against Assange, according to The Washington Post. The charges were disclosed in a filing in an unrelated case.

More on Assange here.

 

TRUMP OFFICIAL KNEW IN ADVANCE OF HUAWEI EXEC'S ARREST: National security adviser John Bolton said Thursday he knew in advance about the arrest of a top executive of Chinese telecom giant Huawei, an incident that could reignite the trade dispute between the U.S. and China.

"I knew in advance. This is something that we get from the Justice Department. And these kinds of things happen with some frequency," Bolton said in an interview with NPR.

The White House later told The Hill that President Trump did not know in advance of Meng Wanzhou's impending arrest Saturday by authorities in Canada.

Background: Wanzhou is reportedly suspected of violating U.S. trade sanctions on Iran.

China has demanded the release of Meng, the chief financial officer and daughter of the founder of Huawei, the world's largest supplier of telecom equipment. She faces potential extradition to the U.S. 

The company has become the target of some U.S. agencies over concerns it is too close to the Chinese government and is involved in activities like forced technology transfers and intellectual property theft.

Markets: The Dow dropped soon after its Thursday opening on fears of worsening U.S.-China trade tensions, fueled in part by the arrest. The Dow recovered though to close 79 points down.

More on the arrest here.

 

BACK TO THE SPOTLIGHT -- FOR BOTH OF THEM: Former White House chief strategist Steve Bannon reportedly interviewed with the Senate Intelligence Committee last month about Cambridge Analytica.

The Daily Beast reported Thursday that Bannon, who helped found the since-shuttered data company, faced questions from investigators about the firm during a closed-door session.

Bannon and his attorney did not immediately return requests for comment.

A spokeswoman for Senate Intelligence Committee Chairman Richard Burr (R-N.C.) declined to comment, and a spokeswoman for the committee's ranking member, Sen. Mark Warner (D-Va.), did not immediately return a request for comment.

Bannon's attorney, William Burck, told The Hill earlier this year that the intelligence panel was seeking an interview with the former top White House aide as part of its investigation into Russian interference in the 2016 election.

"The Senate Intelligence Committee has expressed an interest in interviewing Mr. Bannon as a witness, just as they have many other people involved in the Trump campaign," Burck said in an email in October. "But the committee has never suggested that he's under investigation himself."

Cambridge Analytica came under fire after it was reported that the firm used improperly obtained Facebook user data to create models for clients, including the Trump campaign.

Read more here.

 

WHITE HOUSE TECH ROUNDTABLE: Google CEO Sundar Pichai and other tech executives visited the White House today for a roundtable on American innovation.

"We had a productive and engaging discussion at the White House today about America's leadership in emerging technologies," Pichai said in a statement. "At Google, we are proud to work together with government as we develop new and innovative services and continue to invest in the U.S. and the future of the American workforce. I look forward to continuing the conversation."

Also attending the meeting were the CEOs of Microsoft, Qualcomm, Oracle, IBM and Blackstone. Those from outside the tech world who participated were Henry Kissinger, Ivanka Trump, Jared Kushner, Robert Lighthizer and White House CTO Michael Kratsios.

Senior administration officials said on a call with reporters ahead of the meeting that the agenda would partly focus on the rollout of 5G networks and why beating China is a priority.

The meeting comes a week before Pichai will testify before the House Judiciary Committee about allegations of anti-conservative bias and Google's data collection practices.

 

WELL, THAT'S SOMETHING: The top consumer protection official at the Federal Trade Commission (FTC) is barred from handling cases involving more than 100 different companies due to conflicts of interest from his prior work as a private sector attorney, according to documents obtained by the consumer group, Public Citizen.

Andrew Smith, who was tapped as the chief of the FTC's Consumer Protection Bureau in May, listed 120 conflicts on a financial disclosure form that Public Citizen released on Thursday. Among them are Facebook, Equifax and Uber, all of which are either under investigation by the FTC or operating under consent agreements with the agency.

"Even in an administration full of unprecedented conflicts of interests, Mr. Smith's conflicts stand out from the pack," Lisa Gilbert, Public Citizen's vice president of legislative affairs, said in a statement.

"The Federal Trade Commission should be protecting consumers against predatory payday lenders and corporate bad actors rather than giving the corporate lawyer who has represented these companies a job. This is one more example of the fox guarding the henhouse," Gilbert added.

Smith's hiring caused an early rift among the new slate of FTC commissioners confirmed this year, with the two Democrats voting against his appointment in a 3-2 party-line vote. Rohit Chopra, a Democrat on the commission, said his private sector work would hamper his ability to oversee the bureau's operations.

Read more here.

 

TURNING UP THE HEAT ON A MAJOR MERGER DEAL: Judges on a federal appeals court on Thursday grilled the Department of Justice (DOJ) over its challenge to a lower court decision blessing the AT&T-Time Warner merger.

The government is seeking to block the $85 billion dollar deal but faces a high burden in the appeals process and took tough questions from the judicial panel.

"This is a merger that will shape the industry for decades to come," Michael Murray, the DOJ's lawyer, said during his oral argument before the D.C. Circuit Court of Appeals.

It was unclear from the tough questioning where the judges will land in their consideration of the appeal. The questioning centered on the economic model that the government relied on in court earlier this year and the trial judge's interpretation of it in his decision to approve the merger unconditionally.

In a brief filed to the appeals court in August, the DOJ argued that D.C. District Judge Richard Leon ignored "fundamental principles of economics and common sense" in blessing the deal.

The landmark case marks the first time that an administration has gone to court to block a vertical merger since the Nixon era. The DOJ and other critics say that the deal would give AT&T and its television-provider subsidiaries unfair leverage over competitors negotiating to distribute Time Warner content.

More here.

 

GOING PUBLIC? Lyft has confidentially filed for an initial public offering (IPO), pulling out ahead of its ride-sharing competitor Uber in the race to go public.

Lyft announced in a statement Thursday that it has not yet decided how many shares will be offered or how far the price will range, but that it has submitted early documentation for the IPO.

Ride-sharing services have drawn billions of venture capital dollars, but have yet to be tested in a wider investor market.

Uber is trying to get an IPO in the first half of 2019, people familiar with the matter have told Bloomberg. Lyft is aiming to lead an IPO in the same timeframe, people familiar with the matter told the outlet in October.

The banks working with Lyft – JPMorgan Chase & Co., Credit Suisse Group AG, and Jeffries Financial Group Inc. – have valued the company from $18 billion to $30 billion, sources told Bloomberg.

More on the company's plans here.

 

AN OP-ED TO CHEW ON: The United States needs better quantum science as a national policy.

 

A LIGHTER CLICK: Tis the season.

 

NOTABLE LINKS FROM AROUND THE WEB:

Arrest shakes Huawei as global skepticism of its business grows. (The New York Times)

What Washington Post employees actually think about Amazon. (Huffington Post)

Microsoft pushes urgency of regulating facial-recognition technology. (The Wall Street Journal)

Tumblr's porn ban reveals who controls what we see online. (Wired)

 
 
 
 
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