US lawmakers take jabs at Big Tech in antitrust hearing | SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Lawmakers on the House Judiciary Committee’s antitrust panel pressed an executive from Amazon.com Inc about allegations that it competed against its own sellers

The committee does not have authority to punish the companies, and any effort to change antitrust laws affecting tech firms would face hurdles in the Republican-controlled Senate. So the questioning served largely to convey the panel’s displeasure over many of the companies’ business practices. Sutton argued that the data was used solely to predict what customers wanted, and to offer it to them. “The algorithms are optimized to what customers want to buy regardless of the seller,” he said.

Nor did they press Facebook about a proposed $5 billion settlement between with the FTC to resolve allegations that the company violated a 2011 consent agreement by inappropriately sharing information on 87 million users with the now-defunct British political consulting firm Cambridge Analytica.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Iran's top diplomat warns US is 'playing with fire' - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Tensions have since soared, with the US calling off air strikes against Iran at the last minute after Tehran downed an American drone, and Washington blaming the Islamic republic for a series of attacks on tanker ships.
Source: SABC News Online - 🏆 32. / 51 Read more »

Business Maverick: US to Withhold F-35 Fighters From TurkeyDonald Trump said the US would withhold sales after Ankara received a new air-defence system from Russia, putting new strains on the North Atlantic Treaty Organization.
Source: dailymaverick - 🏆 3. / 84 Read more »

Facebook vows Libra currency will wait for approval as US airs worries - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Facebook Inc said it would not proceed with the launch of its Libra cryptocurrency until regulatory concerns are addressed.
Source: SABC News Online - 🏆 32. / 51 Read more »