Ticker: Retail sales slip in October; FCC adopts rules to eliminate ‘digital discrimination’  

Americans cut back on retail spending in October, ending six straight months of gains, though the decline was partly driven by falling prices for both gasoline and cars.

Retail sales declined 0.1% last month after jumping a strong 0.9% in September, according to a report released Wednesday by the Commerce Department.

“The October retail sales report was stronger than expectations, but confirmed a slowdown in consumption,” Ellen Zentner, chief U.S. economist at Morgan Stanley, wrote in a note to clients.

September’s figure was revised higher from an initial report of a 0.7% gain. Excluding sales of gas and autos, retail sales ticked up 0.1%.

FCC adopts rules to eliminate ‘digital discrimination’

The Federal Communications Commission is implementing new rules banning internet providers from discrimination in how they provide service to communities based on income, race and other protected classes.

The rules package, which the commission ratified on Wednesday, would empower the agency to review and investigate instances of discrimination by broadband providers to different communities based on income, race, ethnicity and other protected classes.

The independent agency adopted the rules as a result of the bipartisan infrastructure law President Biden signed in 2021, which contained a provision calling on the agency to “ensure” all Americans have equal access to broadband service.

The move has disgruntled many in the telecommunications industry, who believe the agency overstepped its mandate from Congress, while civil rights groups are calling on the administration to do more to expand access.

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