BanxCorp, operator of the BanxQuote website, sued media companies including News Corp.’s Dow Jones & Co. and New York Times Co., accusing them of forming a cartel to sell information on bank interest rates online, writes Don Jeffrey of Bloomberg News.
‘The defendants through the cartel have made it virtually impossible for competing bank rate websites to remain in business or become newly established,’ lawyers for BanxCorp said in the lawsuit.
“Financial institutions pay to list their interest rates on websites run by BanxCorp and Bankrate, then consumers use the sites to find the most competitive rates for financial products such as certificates of deposit and mortgages. The media companies republish the data.
“The other defendants named are General Electric Co.’s CNBC, Time Warner Inc.’s Cable News Network, Microsoft Corp.’s and GE’s MSNBC Interactive News LLC, News Corp.’s Fox News Network and Move Inc.”
Read more here.
The Star Tribune is seeking an accomplished, motivated and versatile journalist and leader to shape…
The Deputy AME-Business is responsible for the development and planning of coverage on all Newsday…
CNBC.com managing editor Jeff McCracken announced Friday the following promotions: In San Francisco, Ari Levy has…
This Newsday reporter will cover Long Island’s commercial real estate market and the region’s evolving…
The New York Times is looking for a versatile editor to edit enterprise and feature…
International editor Matt Lamers is leaving Marijuana Business Daily. He has been there for seven years. Lamers…