DOJ reportedly to sue Visa over debit card monopoly
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 24 September 2024
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, September 24th. I'm Julie Morgan, the DOJ against Visa. |
| 0:16.0 | Danin makes life way an offer, and we've got an update on the Boeing strike. |
| 0:22.2 | The Department of Justice plans to file an antitrust lawsuit against Visa, |
| 0:26.6 | alleging that the company has illegally monopolized the U.S. debit card market. |
| 0:31.6 | Bloomberg reported citing people familiar with the matter that this is |
| 0:35.2 | expected to be initiated as soon as today. |
| 0:38.5 | The report said the antitrust regulator prepares to accuse Visa of engaging in practices that prevent competitors from entering the debit card market. |
| 0:48.0 | This includes entering into exclusive contracts that hinder the growth of rival payment networks and obstruct technology firms from accessing the market. |
| 0:57.6 | Previously, in 2023, the DOJ Antitrust Division sent Visa in investigative demand, seeking records and information |
| 1:06.6 | about its debit card policies in the U.S. and competition with other payment networks. Visa is down 1.6% in pre-market action. |
| 1:16.4 | The company gets a seeking alpha quant rating of hold with the lowest factor |
| 1:21.2 | grades given to valuation. |
| 1:24.0 | Life Way Foods is up nearly 16% pre-market after Danin offered to buy the remainder of the company it doesn't already own. |
| 1:32.0 | Dan in North America, PBC, of the remainder of the company it doesn't already own. |
| 1:32.8 | Dan in North America, PBC, sent a letter on Monday, |
| 1:36.3 | offering to buy the remainder of Lifeway shares for 25 bucks a share in cash, |
| 1:41.2 | according to a 13D filing on Monday. Danan has a 23.4% |
| 1:46.8 | steak and life way which is known for its Kiefer products. Danan has had a |
| 1:51.7 | sizable steak and lifeeway foods for almost 25 years. |
| 1:55.8 | Lifeway has a market cap of 315 million. |
| 2:00.3 | Boeing's best and final contract offer will not be put to a vote by its largest union. |
... |
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