Deals
Biden Vow to Tackle Industry Giants Confronts Consolidation Wave
- Broad order targets costs from drug prices to luggage fees
- Measure would toughen regulations, including merger reviews
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Joe Biden’s vow to take on the U.S. 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.
The executive order the president signed Friday puts the weight of the federal government behind a sweeping effort that will target everything from airline baggage fees to soaring prescription drug prices.