Business practices used by technology giants Amazon, Facebook, Apple and Google have allowed the companies to hold monopolies over large portions of the digital marketplace, according to a report released Tuesday by the Subcommittee on Antitrust, Commercial and Administrative Law.
Calling for the reform of U.S. antitrust laws, the subcommittee report said that the four companies"have too much power, and that power must be reined in and subject to appropriate oversight and enforcement. Our economy and democracy are at stake." "Our investigation leaves no doubt that there is a clear and compelling need for Congress and the antitrust enforcement agencies to take action that restores competition, improves innovation, and safeguards our democracy," the statement continued.
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These are the six Big Tech companies the EU will target with its digital crackdownThe European Union targets six Big Tech companies including Amazon, Apple and Microsoft under new digital rules aimed at reining in the market power of online companies.
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