Grocery stores roll out surge pricing: Smart move or consumer exploitation?
No matter how much the Biden-Harris Administration downplays and denies it, food prices are rising and Americans are struggling to put food on the table. Americans are spending the highest percentage of their income on food in the past 30 years, and that shows no signs of slowing. By the end of last year, the […]
Failure to warn Oasis fans of dynamic pricing may be consumer law breach, say experts | Oasis
After it was revealed Ticketmaster plans to roll out “dynamic pricing” more widely, experts say it may have broken consumer law by failing to warn Oasis fans that ticket prices could rise while they were queuing. Excitement surrounding the Manchester band's long-awaited reunion tour turned to disappointment and anger over the weekend, as fans expressed […]
Culture secretary vows to end ‘rip off’ gig ticket sales and review surge pricing | Music
Ministers will review ticket price gouging after tickets to an Oasis concert more than doubled in price while on sale, the culture minister has confirmed. Lisa Nandy said the rise in ticket prices was “incredibly depressing”, with standard tickets increasing from £148 to £355 on the Ticketmaster website. The price increase was based on a […]
Spoof article about supposed congestion pricing in Hamptons drives locals crazy
A fake story about congestion pricing supposedly set to be implemented in the Hamptons over Labor Day weekend hit all too close to home, with some upset readers flooding the governor's office with angry calls. Sarcastic Dan's latest paper He also suggested that they would charge based on the value of the vehicles, even going […]
DOJ sues software firm, alleging pricing algorithm enables landlords to raise rents
The Department of Justice (DOJ) sued property management software company RealPage on Friday, alleging that the company’s pricing algorithms allow landlords to share sensitive pricing information and increase rents. The lawsuit, joined by attorneys general from North Carolina, California, Colorado, Connecticut, Minnesota, Oregon, Tennessee and Washington, alleges that RealPage violated antitrust laws by restricting competition […]
Hochul restarts 2nd Ave. subway project and punts congestion pricing revenue fight to 2025
Gov. Kathy Hawkle has freed up $54 million to restart the Second Avenue subway construction project that was stalled by the abrupt halt to congestion pricing, but she acknowledged Tuesday that the question of how to fill a $15 billion hole in the MTA’s budget will drag on into next year. The state Legislature ended […]
Why Wall Street is unfazed by Medicare drug pricing threat [Video] – AOL
Wall Street concerns about anti-inflation price negotiations for the first 10 drugs in Medicare Part D plans appear to be fading. As the Sept. 1 announcement date approaches, executives at big pharmaceutical companies are signaling they are open to any eventual price cuts set by the federal government. On earnings calls in the past few […]
First legal challenges to Hochul’s NYC congestion pricing pause set to be filed Thursday
Strong supporters of congestion pricing plan to sue Gov. Kathy Hawkle over her last-minute suspension of what would be the first-in-the-nation initiative, according to two draft lawsuits obtained by The Washington Post on Wednesday. The two lawsuits, which are scheduled to be filed in Manhattan Supreme Court on Thursday, will mark the first legal challenge […]
FTC probes AI-powered ‘surveillance pricing’ at firms including Mastercard, JPMorgan Chase, McKinsey
Sarah Ponczek and Luke Lloyd discuss the technology and AI landscape, the impact on air freight and ocean shipping rates with Shein and Temu, and how the federal government will handle rates. The Federal Trade Commission (FTC) announced Tuesday that it has launched an investigation into eight companies that offer surveillance pricing tools. Artificial Intelligence […]
FTC launches investigation into surveillance pricing tactics of credit card companies
The Federal Trade Commission ordered eight companies to share information about surveillance pricing to study its effects on privacy, competition, and consumer protection. In a press release, the FTC announced it had issued orders to Mastercard, Revionics, Bloomreach, Chase, Task Software, PROS, Accenture, and McKinsey & Co. The agency said these eight companies use artificial […]