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Business News: UK curb Google and Facebook

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Business News: Google and facebook

LONDON: In order to deter Google and Facebook from leveraging their power to drive out smaller companies and disadvantage customers. Britain will introduce a new competition regime next year.

A dedicated unit within the Competition and Markets Authority (CMA) would implement the code. It said this year that it required tougher laws to hold the tech giants in check.

Also, the competition regulator of Britain, the CMA, said that Google and Facebook dominate digital ads, accounting for around 80 percent of the £ 14 billion invested in 2019.

The two US companies have said they are committed to working on digital ads with the British government and regulator. It includes allowing consumers more control over their data and the advertisements they serve.

Though “unreasonably pro-tech,” British Digital Secretary Oliver Dowden said there was an increasing consensus that the concentration of power in a small number of companies was reducing productivity, reducing creativity, and having negative effects on the people and businesses who rely on them.

A New Era Of Tech Growth

On Friday, Dowden said It’s time to address that and unleash a new era of tech growth.”

In addition, the newly formed Digital Markets Unit, which will commence operations in April, may be empowered to suspend, block and revoke decisions taken by technology companies and enforce financial penalties for non-compliance.

Then, companies will have to be more open about how they use user data and limitations. The government will ban them with the impossible to use competing platforms. The government said, adding that the regulations will also help the news industry, rebalancing the publishers-platform relationship.

On Monday, the CMA said it was reviewing whether a query about Google technology warranted a formal inquiry.

Moreover, a group of technology and publishing firms, Marketers for an Open Web (MOW), said Google was altering its Chrome browser and Chromium developer tools to give it greater influence over publishers and advertisers.

Google said that advertising practises were important to respond to evolving standards about the collection and use of data.

 

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UK to curb Google and Facebook from pushing out smaller tech firms

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