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15 December 2020
by eub2 last modified 15 December 2020
As the Commission launches its proposals for the Digital Services (DSA) and Digital Markets Acts (DMA), EuroCommerce Director-General Christian Verschueren said today:
Advertisement The Commission is right to look at the rules impacting e-commerce in line with the accelerating digital transformation of our sector. Consumers must be able to trust that what they buy is safe and complies with EU rules. We are therefore encouraged that the proposed DSA seeks to ensure products offered for sale online are compliant with EU rules and that the Commission has sought to clarify the responsibilities of online marketplaces. We take note of the proposed Digital Markets Act and ask EU decision-makers to ensure that new rules provide necessary legal certainty and support strong retail and wholesale ecosystems in the EU. We will work with the Commission, Parliament and member states to take forward these two proposals in a w
EU Digital Services and Digital Markets Acts: Europe s big tech regulation overhaul begins
The two pieces of proposed legislation will dictate how the EU regulates Big Tech for years to come. Listen - 03:41
The European Commission announced the Digital Services Act and the Digital Markets Act on Tuesday. Omar Marques/SOPA Images/LightRocket via Getty Images
The European Commission unveiled two major pieces of legislation on Tuesday that could dictate how tech companies are regulated in Europe in the coming years. The Digital Services Act and Digital Markets Act, which were originally expected at the beginning of December, were unveiled by Commissioners Thierry Breton and Margrethe Vestager during a press conference in Brussels.
But first, the overnight
dairy auction was another positive one, the third in a row, but the gain was only +1.25% in USD terms and a lesser 0.84% in NZD terms. There were outsized rises for cheddar cheese (+4.2%) and butter (+6.0%) but the powders only rose modestly - up +1.2% for SMP and just +0.5% for WMP. Volumes offered and sold were an unremarkable 31,700 and the lowest since August although that general level has been offered at these auctions for five months and it is +25% higher than this time last year. Prices achieved are very similar to a year ago even if they have been much lower in between.
FTSE 100 to open marginally higher
The FTSE 100 is set to open at 6517.5, up 0.04% from 6514.4 at the close on Monday.
European indices to open slightly higher
The Euro STOXX Index is called to open at 3499.5, 0.1% higher from 3498.3 at the end of play yesterday.
Germany’s DAX is set to open marginally higher at 13217.8 from 13211.1, while France’s CAC 40 is to edge 0.1% higher at 5519.0 from 5511.0.
COVID restrictions tighten as new variant is found
London and areas in the south-east of England are to enter tier 3 restrictions on Wednesday as cases continue to rise, with health secretary Matt Hancock confirming over 1,000 cases of a new variant of the coronavirus have been identified. A mutation of the virus is normal, according to experts, and the concern remains rising case numbers. The tighter restrictions will be a blow to the Capital, shutting hospitality industries.
BBC News
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image captionThe EU s Competition Commissioner Margrethe Vestager is one of those spearheading the new rules
The European Union is set to unveil new rules it says will overhaul the digital market, including how tech giants operate.
A pair of laws - the Digital Services and Digital Markets Acts - will be announced later on Tuesday.
They are expected to be the biggest revision in 20 years, focusing on competition and making platforms responsible for hosted content.
There are also likely to create heavy fines for violations of the rules.
The rules are being spearheaded by commissioners Margrethe Vestager and Thierry Breton, both of whom have a history of strong rhetoric against the biggest tech giants - as commissioners for competition and the internal market respectively.