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LONDON: The European Union on Wednesday targeted Apple, Amazon, Microsoft, Google parent Alphabet, Facebook owner Meta and TikTok parent ByteDance under new digital rules aimed at reining in the market power of online companies. The firms were classed as online “gatekeepers” that must face the highest level of scrutiny under its Digital Markets Act.
The act amounts to a list of do’s and don’ts that seeks to prevent tech giants from cornering new digital markets, with the threat of fines or even the possibility of a company breakup. It’s part of a sweeping update to the EU’s digital rulebook that’s taking force this year.
The EU’s executive commission said digital platforms can be listed as gatekeepers if they act as gateways between businesses and consumers by providing “core platform services”. Those services include Google’s Chrome browser, Microsoft’s Windows operating systems, chat apps like Meta’s WhatsApp, social networks like TikTok, and others playing a middleman role like Amazon’s Marketplace and Apple’s App Store. The companies have six months to start complying with the Act’s requirements.
The act amounts to a list of do’s and don’ts that seeks to prevent tech giants from cornering new digital markets, with the threat of fines or even the possibility of a company breakup. It’s part of a sweeping update to the EU’s digital rulebook that’s taking force this year.
The EU’s executive commission said digital platforms can be listed as gatekeepers if they act as gateways between businesses and consumers by providing “core platform services”. Those services include Google’s Chrome browser, Microsoft’s Windows operating systems, chat apps like Meta’s WhatsApp, social networks like TikTok, and others playing a middleman role like Amazon’s Marketplace and Apple’s App Store. The companies have six months to start complying with the Act’s requirements.
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