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U.S. and other major tech platforms that treat their own services more favorably, at the expense of rivals, could be forced to sell businesses and pay billion-dollar fines under strict rules unveiled by the European Union. Under the EU’s new Digital Markets Act, companies deemed to be so-called “gatekeepers” won’t be allowed to rank their offerings above rivals on their own platforms, or use competitors’ data to compete with them, according to the proposed regulation released on Tuesday. Companies like Amazon.com Inc, Apple Inc. or Alphabet Inc.’s Google could face fines of as much as 10% of their revenue if they don’t comply, while a company that has repeatedly breached the rules could face orders to divest businesses, confirming a Bloomberg report on Monday. Gatekeepers will also need to inform regulators about smaller acquisitions that would otherwise fall below traditional merger-review thresholds. ....
December 17, 2020 | 12:03 am Font Size AAA BRUSSELS US technology firms including Amazon, Apple, Facebook, and Google face fines of up to 10% of annual turnover and could even be broken up under draft, European Union rules announced on Tuesday aimed at curbing their powers. The rules are the most serious attempt by the 27-country bloc to rein in tech companies that control troves of data and online platforms relied on by thousands of companies and millions of Europeans for their work and social interactions. They show the European Commission’s frustration with its antitrust cases against the tech giants, notably Alphabet’s Google, which critics say have not addressed the problem. ....
Europe’s new legislative proposals mark a big ‘first move’ on tech-market power New Atlanticist by Eileen Kannengeiser and Jörn Fleck REUTERS/Yves Herman On December 15, the European Commission unveiled its long-anticipated legislative proposals the Digital Services Act (DSA) and Digital Markets Act (DMA) in a move that may further deepen transatlantic divides over digital commerce. These proposals are intended to replace the EU’s existing legislation the e-Commerce Directive, which was adopted in 2000 with a vastly expanded new toolbox for digital-service regulation that seeks to improve online governance and promote digital market competition. The European Commission places additional responsibilities on large online platforms, raising important questions about the impact the draft legislation will have on transatlantic digital commerce, the European Union’s (EU) relationship with US Big Tech, and US-EU digital ....
Tech powers brace for a smacking in Europe thestandard.com.hk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestandard.com.hk Daily Mail and Mail on Sunday newspapers.
The Technology 202: Europe s proposed digital rules target Amazon, Facebook and other big tech companies Cat Zakrzewski with Tonya Riley Europe’s proposed rules for online businesses would solidify its reputation as the world’s toughest tech regulator. The European Union yesterday unveiled a pair of proposals that could force tech companies to more aggressively police their platforms for harmful content and also put new restrictions on how large companies compete with smaller rivals. The rules carry fines with up to 10 percent of the companies’ global revenue, and repeated violations could force a breakup of the companies, my colleague Michael Birnbaum reports. ....