June 13, 2021
1 min read

US lawmakers introduce bills to curb powers of big tech firms

The bills, which mainly target the four giants, would require dominant platforms to prove their acquisitions are lawful….reports Asian Lite News

A bipartisan group of lawmakers in the US House of Representatives on Friday introduced a package of bills aimed at curbing the power of tech giants.

The move comes amid growing criticism that tech firms such as Google, Apple, Facebook and Amazon, known collectively as GAFA, are undermining competition by taking advantage of their market dominance, reported NHK World.

In October last year, a House subcommittee released a report calling for stricter regulations on these firms, including the possibility of breaking them up.

https://www.youtube.com/watch?v=SsmoXLUHyeE

The bills, which mainly target the four giants, would require dominant platforms to prove their acquisitions are lawful. They would also prohibit them from giving preference to their own products.

One lawmaker said the four firms have become too big to care, and that the bipartisan bills would rein in monopolistic practices and restore fairness and competition.

US media outlets are reporting the legislation could force the tech giants to overhaul their business models.

ALSO READ: FBI to treat ransomware incidents as terror attacks

Previous Story

France backs India, asks G-7 to lift export curbs on vax materials

Next Story

Amol is busy with his own script

Latest from -Top News

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

EU prepares retaliation for Trump’s tariffs

The European Commission is assembling a fresh round of counter-tariffs aimed at US goods, adding to two existing lists of potential targets—one of which includes products that were hit by suspended tariffs

US, EU slam China’s war games near Taiwan

US President Donald Trump underscored the need to maintain peace in the Taiwan Strait, advocating for a diplomatic approach to cross-strait tensions while warning against the use of force The United States

£13.9 billion of R&D fund to boost innovation, jobs

Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power

OPEC+ accelerates oil output hikes

Despite the production boost, the group emphasised that future adjustments remain flexible and could be paused or reversed depending on market conditions. Eight OPEC+ nations have unexpectedly decided to accelerate their oil
Go toTop

Don't Miss

Gen Rawat left an ‘indelible mark’: Austin

“I had the privilege of meeting with him earlier this

Russia using Iranian drones in Ukraine, says US

A US State Department spokesman warned that Russia deepening an