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Biden signs executive order to boost corporate competition

Targets range from Big-Tech acquisitions to employee noncompete agreements

U.S. President Joe Biden hands a pen to Lina Khan, chair of the Federal Trade Commission, as he signs an executive order on "promoting competition in the American economy" as members of his cabinet stand by at the White House on July 9.   © Reuters

WASHINGTON -- U.S. President Joe Biden signed an executive order Friday to promote competition and intensify scrutiny of corporate giants, aiming to protect consumers, workers and smaller businesses harmed by consolidation.

The order goes beyond Big Tech -- which has come under particular fire over antitrust concerns -- to a wide range of sectors including telecommunications, transportation and banking.

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