Apple, Google and Facebook could reportedly be put on EU ‘hit list’


EU Commissioner of Competition Margrethe Vestager speaks during an interview to AFP at the European Commission in Brussels on May 3, 2019.

EMMANUEL DUNAND | AFP | Getty Images

The likes of Apple, Google and Facebook could soon find themselves on a new EU “hit list” that’s designed to curb their market power and increase competition.

Regulators in the European Union are drawing up a list of around 20 large internet companies they want to comply with tougher rules than smaller firms, according to a report published in The Financial Times on Monday.

Firms on the list will reportedly have to share data with rivals and be more transparent on how they gather information.

Lawmakers in Brussels want to force big tech firms to change their business practices without a lengthy investigation or the need to provide proof that they have broken laws already in place.

Many of the tech giants that the EU is reportedly set to target argue that their platforms help small businesses to thrive and provide billions of people worldwide with useful tools and services.

The European Commission was not immediately available for comment when contacted by CNBC.

Read the full story on The Financial Times here.



Source link

Discover

Sponsor

Latest

President has been symptom-free for 24 hours, doctor says

U.S. President Donald Trump gestures on the Truman Balcony after returning to the White House from Walter Reed National Military Medical Center on...

What you need to know

U.S. Judge Amy Coney Barrett, who has been nominated to the U.S. Supreme Court, on Capitol Hill in Washington, September 30, 2020.Sarah Silbiger...

2021 Volkswagen Arteon gets higher base price after refresh

The 2021 Volkswagen Arteon is rolling into dealers as we speak, and VW just announced official pricing for the updated model. Unfortunately, the...

No End in Sight: Living With COVID Malaise

“With a blizzard, everything shuts down, but you know it’ll be a day, 2, maybe...

Newest 2021 Ram 1500 Built to Serve Edition Celebrates the U.S. Air Force

Ram Trucks introduced a novel take on the limited-edition pickup earlier this year when it began rolling out its “Built to Serve” line...