In a flurry of newspaper headline later last week , U.S. government bodies were report to be looking into antitrust cases against tech giants . The Department of Justice plant its flag inGoogleon Friday , according to reports , while the Federal Trade Commission seemed keen onAmazon .
As of today , the Wall Street Journalreportsthat the FTC is also lay title to an antimonopoly investigating into Facebook , while Reutersreportsthe agreement gives the DOJ the view to probe Apple .
Facebook and Alphabet store require about a 7 percent dive this afternoon after the news broke . Amazon dipped a more modest 4.8 percentage while Apple stumbled about 1.5 percent at the time of this writing .
Photo: Chip Somodevilla (Getty)
Although the DOJ and FTC both have antitrust enforcement powers , turn over the reign to the latter seemed the obvious decision in Facebook ’s case given the agency ’s history of investigating the social platform . The FTC was previously creditworthy forchargingFacebook with failing to keep user datum private in 2011 , and its more late investigation into the company ’s continued floundering on that front could leave infinesof up to $ 5 billion .
The DOJ , meanwhile , has a chronicle with Apple , finding the company plight in ebook cost altering — a decision that be the Tim Cook - led conglomerate a cool$450 million . Apple is currently look the termination of two other antimonopoly cases , one in theU.S. Supreme Courtand a more late one being treat by theEuropean Commission .
It is not soon known if the FTC or DOJ have contiguous plan to investigate potential monopolies within Facebook ’s or Apple ’s vast portfolios — all the current agreement dictates is that if such an investigation uprise , we no do it which agency will take on the potential cases .
tie-up with data falling out , election tampering , and pagan cleansing have made technical school hulk like Facebook a popular target for unfavorable judgment from regulator , the press , and politico . Democratic presidential aspirant Senator Elizabeth Warren has made tech antitrust a cornerstone of her platform ; for immensely different understanding , a figure of Republican lawmakers have also pushed to limit the power of these firm .
AppleFacebook
Daily Newsletter
Get the estimable tech , skill , and polish tidings in your inbox daily .
News from the future , give birth to your present .
You May Also Like
