DOJ Comes For Live Nation, Ticketmaster

Good morning and happy Friday. We are heading into a holiday weekend, so many of us will enjoy a drink. While not available yet, scientists believe they may have created a hangover cure that actually works. Have a great day!

In Today’s Brief

• Border bill: Fails in Senate again

• Slovakia: Gunman’s motivation

• South Carolina: Congressional map OK’d

• Musk: Opposes Chinese EV tariffs

• NCAA: Historic agreement

... and more

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Top Tips

1) Box office breakup

The Taylor Swift ticketing meltdown has led to federal action.

• What happened: The Department of Justice and 30 state and district attorney generals filed a civil antitrust lawsuit seeking to separate Live Nation Entertainment and its subsidiary Ticketmaster. The lawsuit alleges the company has created a monopoly in the live entertainment market, harming artists, promoters and fans with high fees, lengthy contracts and other measures.

• The leadup: Live Nation has been under investigation for over two years. It came under intense scrutiny after the mayhem surrounding presales for Swift's Eras Tour. Ticketmaster makes up over 70% of ticketing for live events, so the suit alleges Live Nation, which organizes the events, controls virtually all aspects of the industry. The DOJ says the company must be broken up to reduce fees and give artists more opportunities.

• Big picture: Live Nation said it is "absurd" to claim it has a monopoly and accused the DOJ and prosecutors of ignoring the industry's real issues and what causes sky-high ticket prices. The company also accused the lawsuit of being anti-business, pointing out the Biden Administration's rash of antitrust pursuits under Garland.

• Worth noting: Americans are flocking to Europe this summer to see Swift as she tours the continent, with many saying the total cost of going across the Atlantic is cheaper than seeing Swift in the U.S. Stricter scalping laws do play a role, but those are not the only cause.

2) In the club

President Joe Biden named Kenya a key non-NATO ally yesterday.

• The news: Biden awarded the designation during Kenyan President William Ruto's state visit to the White House. The tag is largely symbolic, but it is designated under U.S. law and carries significance. Kenya is the first sub-Saharan nation in the fold; it joins countries like Australia, Israel and Japan.

• The timing: Kenya will lead a police security force about to deploy to Haiti to stabilize the Caribbean nation, which is being torn apart by gang violence. The Kenyans have also been active in supporting Ukraine in its war with Russia, have strong ties with Israel and have collaborated on counterterrorism operations with the U.S.

• Big picture: The U.S. is working to tamp down ties with Kenya, one of Africa's strongest democracies, as Chinese and Russian influence rises in the region amid a wave of coups, wars and contested elections. American troops are being evicted from Niger as that nation draws closer to the Kremlin; China has become the continent's top trading partner.

3) 'Extremely dangerous'

Attorney General Merrick Garland blasted comments by former President Donald Trump and his allies.

• The news: Trump has claimed President Biden and the DOJ authorized the FBI to use lethal force during a raid of Mar-a-Lago tied to his classified documents case. A campaign fundraising email said Biden "was locked and loaded ready to take [Trump] out" while Georgia Rep. Marjorie Taylor Greene alleged an assassination plot.

• The response: Garland said the allegation is false and "extremely dangerous." The document and information Trump appears to be referring to is standard policy, he said. Garland said the same policy was applied to a search of Biden's home in his documents investigation.

• Big picture: It is not the first time the DOJ has pushed back on a Trump claim. The former president's federal classified documents criminal case is delayed indefinitely. Closing arguments in his New York criminal hush money trial will begin next week.

Quick Tips

U.S. News

• A bipartisan border security bill failed in the Senate for a second time. The proposal was voted down 50-43 when 60 votes were needed for advancement; some Democrats joined the Republican opposition to the bill (More)

• Norfolk Southern reached a $310M settlement with the EPA to resolve the fallout of the East Palestine, Ohio, derailment in 2023. The funds will cover damages and long-term environmental and health monitoring; the company reached a separate $600M settlement with impacted residents (More)

• U.S Customs and Border Patrol intercepted almost 6T of methamphetamine in San Diego. The drugs have a street value of over $18M and were hidden in a shipment of green squash inside a tractor-trailer; sniffer dogs assisted the recovery (More)

World News

• The man who shot Slovakian Prime Minister Robert Fico said his lack of support for Ukraine and the country’s shift away from the European Union mainstream were motivating factors. The gunman said he wanted to force Fico from office, but did not want to assassinate him (More)

• China is conducting military drills around Taiwan following the inauguration of President Lai Ching-te. The Chinese say the exercises are "strong punishment" for the island nation seeking independence and a warning to external forces like the U.S. (More)

• French President Emmanuel Macron delayed plans to reform New Caledonia's voting laws. Riots have racked the French Pacific territory in recent days after a parliamentary vote; Macron did not commit to dropping the proposal entirely (More)

Campaign News

• The Supreme Court signed off on South Carolina's controversial new congressional map. Critics, including a lower court, alleged Republicans discriminated against Black voters to make Rep. Nancy Mace's district more GOP-friendly (More)

• A New Hampshire political consultant faces a $6M FCC fine for using artificial intelligence to impersonate President Biden on robocalls. Steven Kramer was also indicted on related charges by the state's attorney general (More)

• Brexiteer Nigel Farage passed on standing in the United Kingdom general election to focus on helping former President Trump get re-elected. The GB News broadcaster and Reform UK Honorary President recently hinted he may join Trump's campaign (More)

Business & Markets

• Major indexes closed lower yesterday, with the Dow Jones plummeting over 600 points on its worst day of the year. Wall Street does not expect interest rate cuts until December (Dow -1.53%, Nasdaq -0.39%, S&P 500 -0.74%).

• Elon Musk disagrees with President Biden's new tariffs on Chinese-made electric vehicles. The Tesla CEO said the announcement surprised him, his company can compete in China and any tariff is unnecessary (More)

• Oreo's parent company was hit with a $366 fine by the European Union for anti-competitive practices. Mondelez is accused of restricting cross-border trade and forcing consumers to pay higher prices (More)

Entertainment & Sports

• The NCAA and its five power conferences have agreed to allow schools to directly pay players for the first time in college sports history. The governing body and its leagues will agree to a multi-billion settlement to resolve several amateurism lawsuits (More)

• A Premier League player is accused of purposely drawing penalty cards to influence wagers. West Ham United's Lucas Paqueta is alleged to have influenced four matches to affect betting markets; he denies the charges (More)

• The WNBA formally awarded an expansion franchise to Toronto, beginning play in 2026. The team will share ownership with the city's NBA and NHL clubs; it plans to play select games in Montreal and Vancouver (More)

Quick Hitters

• Fun Stuff: Newborn baby photoshoots have become quite popular. This grumpy tyke is not amused about his.

• Bonus Miles: Americans are holding onto their cars longer due to high prices. With the average new vehicle costing $45K, the average age of rides on the road is now almost 13 years.

• Take Note: It's seasonal allergy season. Does local honey really do anything to keep them at bay?

• Go Deep: A major American ammunition manufacturer has struck a nearly $2B acquisition deal with an Eastern European arms company. The proposed sale is raising all kinds of concerns.

• Life Hack: The next time you find yourself in a big crowd, make sure your belongings are safe. Here is how to stay one step ahead of pickpockets.

• OPTIMIZE ME: Researchers “found convincing evidence that higher intake of ultra-processed foods was associated with 50% increased risk of cardiovascular disease-related death, a 48% to 53% higher risk of anxiety and common mental disorders, and a 12% greater risk of type 2 diabetes.”

Want more health and wellness news? Subscribe to our brand new newsletter, Optimize Me, and start living a healthier life through diet, exercise, sleep, and mindfulness:

Watch This

Check out the trailer for Beetlejuice Beetlejuice, which stars Michael Keaton as he reprises his iconic role as the bawdy spirit.

Links

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Looking Ahead …

Six planets -- Jupiter, Mars, Mercury, Neptune, Saturn and Uranus -- will align in a near-straight line early next month. Only some planets will be visible from Earth, and the moon will likely obscure the view, but stargazers should be able to see Mars and Saturn without technological assistance.

Question of the Day — Friday Trivia Edition

Yesterday’s results:

Which state lines should people try to redraw next?

• Give Michigan’s Upper Peninsula to Wisconsin (32%)

• Other* (26%)

• The Kansas Cities need to pick a side (23%)

• We only need one Dakota (19%)

* — some ideas: Separate New York City and upstate New York (which was once proposed), Chicago and Cook County leave Illinois and merging the Carolinas.