The UK government on Wednesday announced it is considering proposals to overhaul the UK’s competition laws and introduce a new unit to enforce competition to tech giants like Google (GOOGL) and Facebook (FB).
Chancellor Philip Hammond said in his spring statement he will ask the UK’s Competition and Markets Authority to review the digital marketing sector. He said it would be the “first step towards implementing reforms.”
Hammond’s comments were in response to a six-month review of competition in tech in the UK, conducted by Barack Obama’s economic advisor Jason Furman.
The report, commissioned by the Treasury and published on Wednesday, concluded that tech giants don’t face enough competition and have too much dominance.
LONDON (AP) — Swedish music site Spotify has complained to European Union regulators about Apple for allegedly abusing its dominant position in music streaming and stifling competition.
Spotify founder Daniel Ek said Wednesday that the company has filed a formal antitrust complaint with the executive European Commission against Apple — a move that adds to the debate about how to rein in the power of big-tech.