After Google and Amazon, US antitrust spotlight turns on Facebook, Apple

After Google and Amazon, US antitrust spotlight turns on Facebook, Apple

The company's market cap was slashed by $54 billion.

Under FTC pressure, Google agreed to end the practice of "scraping" reviews and other data from rivals' websites for its own products, and to let advertisers export data to independently assess campaigns.

In the most extreme cases inquiries can lay the groundwork for breaking companies up, or forcing them to radically alter their practices.

Google, owned by Alphabet Inc., has faced mounting scrutiny as regulators around the world have focused on tech companies' business practices over the past year. And if that wrongdoing is found-which it will be- it will instruct the Department of Justice (DOJ) and Federal Trade Commission (FTC) to launch formal antitrust investigations that will lead to fines and behavioral remedies.

Facebook, Google, and Amazon stock all saw big declines on Monday.

TripAdvisor remains concerned about Google's practices in the United States, the European Union and throughout the world.

"At what point is a platform like that a common carrier in the information age?", he asked, referring to the United States government's definition of a utility which, applied to Facebook, would enable the Federal Communications Commission to regulate the company.

More news: Mexico seeks to neutralize Trump's tariff threat

Investors have also been concerned about the looming fear of more regulations in the sector, which weighed the stock down. A previous FTC investigation into Google was shut down in 2013 without major action against the company.

It is rare to break up a company but not unheard of, with Standard Oil and AT&T being two of the biggest examples.

Several lawmakers have called for closer scrutiny of the tech giants, with some even going so far as to say the companies should be broken up.

Now the Justice Department has undertaken an antitrust probe of the company's search and other businesses, according to reports by The Wall Street Journal, The New York Times and Bloomberg News. Google said that it had found the issue and fixed it, though it didn't reveal more details about it.

The developments form part of a broader U.S. review of whether techn giants are using their size to act in an anti-competitive manner. The FTC earlier this year set up a task force to examine the conduct of tech companies and their past mergers.

"The open Internet has delivered enormous benefits to Americans, including a surge of economic opportunity, massive investment, and new pathways for education online", House Judiciary Chairman Jerrold Nadler (D-NY) was quoted as saying.

Related Articles

  • Sudan crackdown reveals military's limit on extent of change

    Sudan crackdown reveals military's limit on extent of change

    United Nations human rights chief Michelle Bachelet also condemned the attack and urged the security forces to stop immediately. The UN also called for a speedy transition to a civilian government as was being demanded by the protesting citizens.
    Pokemon Sword and Shield Remove Random Encounters

    Pokemon Sword and Shield Remove Random Encounters

    Using another wrist-worn device, the Dynamax mode causes your Pokemon to become absolutely huge, and increases their power. The latest Pokemon Sword and Shield Nintendo Direct introduced several new characters and plot details.
    Luca Jovic joins Real Madrid, Eintracht Frankfurt confirm

    Luca Jovic joins Real Madrid, Eintracht Frankfurt confirm

    Madrid are said to to have forked out around £58 million for the signing of star forward according to a report by SunSport. Real Madrid have announced the signing of Luka Jovic from Eintracht Frankfurt for a reported fee of €60million.
  • US House Dems move closer to holding Trump officials in contempt

    US House Dems move closer to holding Trump officials in contempt

    Nadler thinks impeachment is not supported by the people because they don't know the facts. "And we'll make that happen". Nadler reportedly pushed Pelosi to let his committee start an impeachment inquiry, but Pelosi still opposes that idea.
    Mystique Wants The Team Called X-Women in New Dark Phoenix Clip

    Mystique Wants The Team Called X-Women in New Dark Phoenix Clip

    The first adaptation was 2006's X-Men: The Last Stand , which, while not ideal , earned a Rotten Tomatoes score of 58 percent. From left, James McAvoy , Kodi Smit-McPhee, Tye Sheridan and Alexandra Shipp gather for a somber scene in " Dark Phoenix ".
    Van Dijk doesn't want to influence De Ligt's decision on his future

    Van Dijk doesn't want to influence De Ligt's decision on his future

    They not only have a successful campaign to lure De Ligt with, but also the financial security that that success has bred. But ask anyone - both teams will say they're not 100 per cent because everyone has had a full season behind them'.
  • Dem: Paying for Abortions Is the Same as Funding Our Troops

    Dem: Paying for Abortions Is the Same as Funding Our Troops

    Kirsten Gillibrand , who has campaigned as an unapologetic feminist, tweeted "reproductive rights are human rights, period". They argue the ban prevents the poorest women gaining access to abortions . "He was in a band", she said.
    Pelosi Tells Dems She Wants to See Trump ‘In Prison’

    Pelosi Tells Dems She Wants to See Trump ‘In Prison’

    In an interview Sunday on CNN, when asked if he thinks impeachment is inevitable, Clyburn answered: "That's exactly what I feel". Trump , and instead offered reasoning why his office never considered indicting him for obstruction of justice.
    Poetry in motion: Potent power play key to Bruins' series lead

    Poetry in motion: Potent power play key to Bruins' series lead

    Louis 1 of 5. "The Bruins did a good job and we can't give them life that way". "I feel like if we can do that, we're effective". What will help them more is if the Blues are disciplined, move their feet, and avoid borderline offenses.
  • Google takes pre-orders for game streaming service launching November

    Google takes pre-orders for game streaming service launching November

    We aren't sure if "any Google device" means any Android device, or specifically Google's first-party hardware, like the Pixel. So, like typical PC and console gaming (Nintendo Switch excluded), Stadia is going to be nearly exclusively used at home.
    U.S. House panel threatens contempt of Congress vote against Barr, Ross

    U.S. House panel threatens contempt of Congress vote against Barr, Ross

    The Special Counsel did so on his last day of work at the Justice Department as he has now returned to private life. Chairman of the House Judiciary Committee, Jerry Nadler, speaks on Capitol Hill in Washington on May 8, 2019.
    McConnell: 'There Is Not Much Support' in GOP Conference for Tariffs

    McConnell: 'There Is Not Much Support' in GOP Conference for Tariffs

    For Republicans, tariffs are counter to firmly rooted orthodoxy and viewed as nothing more than taxes they strenuously oppose. This tariff would increase incrementally by 5 percentage points every month, reaching a possible maximum of 25% by October.