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EU lists Alphabet, Amazon, Meta and three other tech giants as 'gatekeepers' under strict competition rules - TL;DR CNBC

EU lists Alphabet, Amazon, Meta and three other tech giants as 'gatekeepers' under strict competition rules

Publishing timestamp: 2023-09-06 10:12:25


Summary

The European Commission has designated six tech giants, including Alphabet, Amazon, Apple, Meta, Microsoft, and ByteDance, as "gatekeepers" under its new Digital Markets Act. This legislation aims to promote competition in digital markets and provide more choices for consumers. The rules could potentially disrupt the business models of these large digital platforms. The EU has also opened market investigations into Microsoft and Apple to determine if their services should be classified as gatekeepers. The Digital Markets Act is a significant new law that aims to address anti-competitive practices by big tech companies.


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Keywords: eubusiness newsbreaking news: politicsbreaking news: marketseuropean commissionmicrosoft corptechnologyalphabet incmeta platforms incbreaking news: technologypoliticsmarketsapple incamazon.com inc

Source: https://www.cnbc.com/2023/09/06/eu-lists-alphabet-amazon-meta-and-three-other-tech-giants-as-gatekeepers-under-strict-competition-rules.html


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