The Justice Department has confirmed that it is investigating Verizon Wireless’s airwaves and marketing deal with cable companies for any anti-competitive effects it may have on the telecommunications industry.

Verizon’s recent $3.6 billion purchase of wireless spectrum from Comcast, Time Warner and Bright House Networks would give the nation’s biggest wireless carrier an edge over competitors as the industry races to bolster networks for a deluge of smartphones and tablets.

The agreement also includes a marketing deal in which Verizon and the cable companies would cross-promote products.

Gina Talamona, a Justice spokeswoman, confirmed Tuesday that antitrust officials are reviewing the transaction. Verizon on Monday submitted an application to the Federal Communications Commission to approve its spectrum purchase.

Verizon Communications spokesman Ed McFadden declined to comment, saying the company had not received information about the investigation. Comcast has argued that competition won’t decrease because no wireless companies are being removed from the market.

But Justice officials say the deal presents multiple concerns, particularly the cross-marketing deal. They want to ensure that Verizon wouldn’t give up on FiOS, its TV and Internet landline business, which has been a cable alternative for 14 million U.S. homes.

Holiday shopping strong in home stretch

The holiday shopping season is wrapping up to be bigger than anyone expected. Sales from November through Saturday rose 2.5 percent, compared with the same period a year ago, according to research firm ShopperTrak, which did not give a dollar figure. Online, shoppers have spent almost $32 billion for the holiday season, a 15 percent increase from a year ago, according to comScore, which tracks Web use.

The final week before Christmas, which includes four of the top 10 holiday shopping days, can account for up to 20 percent of sales for the season.

White Castle chain considers alcohol sales

White Castle, a 90-year-old hamburger chain known for its square “slider” burgers, is sipping on the idea of offering alcoholic beverages as it tests beer and wine sales at a restaurant in Lafayette, Ind.

The small burgers can be had with a glass of wine or a domestic or seasonal beer that fuses a conventional White Castle with a new concept for the company called Blaze Modern BBQ. Wine costs $4.50 and beers start at $3.

This year, Burger King opened the Whopper Bar South Beach, a restaurant in Miami Beach offering beer, and Starbucks Corp. has been testing beer and wine at a few sites.

Ex-Fannie Mae exec takes leave at Fortress

Former Fannie Mae CEO Daniel Mudd announced Wednesday he would take a leave of absence from Fortress Investment Group, the hedge fund he runs. The announcement comes less than a week after Mudd was charged in connection with the 2008 financial crisis.

Mudd is one of six former executives at Fannie, the Federal National Mortgage Association, and Freddie Mac facing civil fraud charges from the Securities and Exchange Commission. The executives are accused of understating the level of high-risk subprime mortgages.