Tuesday, August 3, 2021
Home Technology Big Tech Said to Be Targeted With 5 New Bills by Top...

Big Tech Said to Be Targeted With 5 New Bills by Top US Antitrust Lawmakers


Lawmakers in the House of Representatives are working on drafts of five antitrust bills, four of them aimed directly at reining in Big Tech, and may introduce them within days, according to three sources familiar with the matter.

Reuters has read discussion drafts of five measures. Sources familiar with the process say they may be changed before they are introduced. They may be introduced this week but that may be delayed, two sources said.

Among the five bills being considered, two address the problems of platforms, like Amazon, creating a space for businesses to sell products and then competing against those products.

One of the two would make it illegal in most cases for a platform to advantage its own products on its platform with potentially a fine of 30 percent of the US revenues of the affected business if they violate the measure. A second requires platforms to sell any business if owning it creates an incentive for the platform to advantage its own products or lines of business.

A third bill would require a platform to refrain from any merger unless it can show the acquired company does not compete with any product or service the platform is in.

A fourth would require platforms to set up a way for users to transfer data if they desire, including to a competing business. A fifth is similar to a Senate measure that would raise what the Justice Department and Federal Trade Commission (FTC) charge to assess the biggest companies to ensure their mergers are legal and increase the budget of the agencies.

The House Judiciary Committee’s antitrust panel wrote a report that was issued in October 2020 that spelled out abuses by four big technology companies, Alphabet’s Google, Apple, Amazon, and Facebook. The report – which was scathing – suggested expansive changes to antitrust law.

© Thomson Reuters 2021


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.



Source link

RELATED ARTICLES

4 Reasons you should buy an R4 karte

You can certainly do wonders with your Nintendo DS gaming console when you have the R4 karte available to be used with it. If...

For What Reason The Laptops Are Significant?

Innovation is progressing quickly in this day and age. PCs are turning out to be increasingly more significant these days - essentially...

Here’s Why You Should Choose LG Refrigerator To Keep Your Food Fresh

LG is one of the leading consumer durable brands in India, occupying about 30% share in the refrigerator market segment. LG refrigerators...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

10 easy Ways To Green Up

Everybody appears to have a "ten ways to go green ' list these days. But I believed I might give you some simple things...

10 iPhone Applications for Business

The iPhone has created waves of techno style since it was first introduced. iPhone has been brilliantly designed, fast and has an overall functionality...

Top 6 Online Movie Streaming Sites That Are Popular in 2021

Today, internet speeds and streaming services have advanced to the point where we routinely watch our favourite movies online. Streaming has become...

10 Best Health Tips

Well -- they're simple, easy to do, cost you little or nothing, and they work! Because it's often hard to get started, most of...

Recent Comments