Nov 21, 2017

FCC unveils plan to repeal net-neutrality rules

FCC chairman Ajit Pai at an open meeting earlier this year. Photo: Robin Groulx / Axios

The Federal Communications Commission will vote in December on whether to roll back Obama-era rules that stop internet service providers from blocking or slowing down content, or offering "fast lanes" to websites in exchange for a fee.

The details: The agency's Trump-appointed chairman, Ajit Pai, said in a statement that "the FCC would simply require Internet service providers to be transparent about their practices so that consumers can buy the service plan that's best for them and entrepreneurs and other small businesses can have the technical information they need to innovate.”

What’s next: The text of the proposal — and therefore key details — have yet to be released.

Why it matters: This will give internet service providers more room to experiment with favoring their own content and, conceivably, charging customers or websites more for handling certain content.

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Biden rolls out new policies in effort to court Sanders supporters

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The Biden campaign announced two new policies on Thursday on health care and student debt that are squarely aimed at appealing to supporters of Bernie Sanders, who ended his campaign for the Democratic nomination on Wednesday.

Why it matters: The policies don't go as far as Sanders' platform, but they signal that Biden is serious about incorporating elements of his former rival's agenda in an effort to help unify the Democratic Party and defeat President Trump in the general election.

Reports: Saudi Arabia and Russia reach major deal to cut oil production

Photo: Joe Klamar/AFP via Getty Images

OPEC+, led by mega-producers Saudi Arabia and Russia, reached a tentative agreement Thursday to impose large cuts in oil production as the coronavirus pandemic fuels an unprecedented collapse in demand, per Bloomberg and Reuters.

Why it matters: The revival of the OPEC+ collaboration patches up the early March rupture between the countries, which had pushed already depressed prices down much further by threatening to unleash even more new supplies into the saturated market.