(July 10): Joe Biden’s vow to take on the US economy’s most dominant companies faces a monumental task: combating years of consolidation that have left industry after industry controlled by a handful of firms. “Between them, the two Roosevelts established an American tradition, an antitrust tradition,” Biden said. “It’s how we ensure that our economy isn’t about people working for capitalism, it’s about capitalism working for people. Industry analysts are skeptical about how far-reaching the Biden order will be on companies. Biden took pains to frame the executive order as an effort to bolster — rather than counter — capitalism.

Source: The Edge Markets July 10, 2021 12:45 UTC