The U.S. House of Representatives antitrust subcommittee's findings on abuse of market power by four large tech companies took Amazon, Apple, Facebook and Alphabet's Google to task in a scathing take-down for what the committee saw as a gross abuse of power aimed at squelching competition.
Washington is finally ready to turn up the heat on Silicon Valley... After a more than year-long probe, a House antitrust panel on Tuesday released a scathing report slamming Amazon, Facebook, Apple and Alphabet's Google for anti-competitive practices that unfairly hurt rivals.
The long-awaited findings detail what lawmakers believe are the lengths these big tech companies took to abuse their dominance, including the use of exorbitant fees and 'oppressive' contracts to squeeze out more profits.
"To put it simply, companies that were once scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons," said the report.
Subcommittee chairman David Cicilline gave a preview of what to expect at a tech hearing this summer.
"Prior to the COVID-19 pandemic, these corporations already stood out as titans in our economy in the wake of COVID-19, however, they're likely to emerge stronger and more powerful than ever before." The House committee claims Amazon abuses its dominance by not only operating the marketplace but selling items, allowing it access to third-party data, which it uses to sell copy-cat items. Calling that an "inherent conflict of interest." It recommends Congress consider a law that prohibits companies from operating the markets in which they compete.
Lawmakers didn't mince words when it came to Facebook either.
The House panel accused Facebook of maintaining its social media dominance by identifying rivals and then either copying from them, buying them, or just outright killing them.
But the news wasn’t all bad.
The report lacked any calls for company breakups or Congressional attempts to block future mergers.
There was no immediate response from any of the companies.
Shares of Facebook, Amazon, Apple and Google all added to loses in after-hours trading.
On Saturday, Netflix said it would declare more than $1.3 billion in UK revenue. The news is likely to put pressure on other tech giants like Amazon and Google many of which use tax jurisdictions to their favor. Business Insider reports Netflix has about 50 productions based in the UK, including "The Crown" and "The Witcher." Variety reports Netflix is planning to double UK spending.
The actress steals the show in the new Netflix movie, from director David Fincher. Report by Nelsonj. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Actor Anthony Daniels has paid tribute to his Star Wars costar David Prowse, who passed away at the age of 85, describing him as an “immensely” affable and warm person.
Prowse was best known for playing Darth Vader in the in the original Star Wars trilogy, while Daniels starred as droid C-3PO. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
EU Chief Negotiator Michel Barnier says make-or-break Brexit negotiations continue "even on Sunday". Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Foreign Secretary Dominic Raab insists the UK it on the "last leg" of its Brexit trade negotiations with the European Union.
He adds, however, pragmatism is needed from the Bloc on the outstanding key issues, including a fisheries policy. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
EU Chief Negotiator Michel Barnier continues make-or-break Brexit negotiations in London with his UK counterpart Lord Frost. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Tech giant Google is gradually rolling out a new feature to Google Chrome 87 that allows the user to type commands in the address bar that performs specific browser actions. According to Mashable, this new feature is called 'Chrome Actions' and allows the user to type in a command, causing an action to be displayed in the address bar search results. When the user selects that action, it will be executed in the browser. The new option can help user directly search in Google or the engine of choice and even present calculations and unit conversions even before pressing 'Enter'. Its next trick might appeal to a certain class of users who are more used to entering commands in a terminal or envision themselves giving orders to the browser through typed commands.
Google on Tuesday (local time) said that its payments application Google Pay's iOS, and Android applications along with its website version are set to lose their payment features in America. According to the Verge, applications will only work till December and will lose their features in January in America. As per a Google support document quoted by The Verge, the old apps will not be able to send or receive payments or withdraw money soon. Alternatively, a notice on the website of the payments service also said that it will also lose the feature of sending and receiving peer-to-peer payments.
Miley Cyrus has battled sobriety for years. During a recent appearance on Apple's "New Music Daily with Zane Lowe" Cyrus said she "fell off" the wagon during the pandemic. The singer and actress says she would never want to pretend that she has been sober. "I fell off and I realized that I now am back on sobriety, two weeks sober." The star said she has issues with moderation and said she believes everyone should do what's best for them. Cyrus' latest album, "Plastic Hearts," drops Friday.
Tech companies Microsoft and Apple are working together to make the Xbox Series X and Series S controllers work on iPhones and iPads. According to The Verge, Currently, the new controllers are not officially supported in iOS or iPadOS, but Apple said, "Microsoft and Apple are working together to bring compatibility for the Xbox Series X controller to customers in a future update." As per The Verge, it is unclear as to how long it will take Apple to certify the new Series X controllers, but there are signs that DualSense support might come soon. Apple Insider reported recently that iOS 14.3, which is currently in beta, "appears to include behind-the-scenes support" for the PS5's DualSense controller.
Leaders of the world's 20 biggest economies on Sunday will pledge to pay for a fair distribution of COVID-19 vaccines, drugs and tests around the world so that poorer countries are not left out, and to extend debt relief to them, a draft G20 communique showed. Fred Katayama reports.
U.S. stocks recovered on Thursday some of the steep losses seen the day before as investors gobbled up high-flying tech names in anticipation of strong quarterly results after the close, which Amazon, Apple, Facebook and Google's parent Alphabet each delivered. Conway G. Gittens reports.
While addressing a press conference at Delhi-Haryana Border, Surjeet S Phul, President, BKU Krantikari (Punjab) on November 29 said, "We've decided that we won't allow any political party leader to speak on our stage, be it Congress, BJP, AAP or other parties. Our committee will allow other organisations, who are supporting us, to speak if they follow our rules." "We want to apologise to media for misbehaviour with them by a few protesters unknowingly. To avoid such situations in future, we've decided that after every meeting, an official press note will be released by us for media," he added.
BPJ president JP Nadda took a jibe at Congress and J&K leaders in Hyderabad. He said, “In Jammu and Kashmir, NC leader Farooq Abdullah says he'll seek China's help to restore Article 370. PDP leader Mehbooba Mufti says she'll not raise tricolour until Jammu and Kashmir, Farooq’s flag is restored. These are our national leaders. Congress opposes Modi ji but ends up opposing the country. It stands with Gupkar alliance.” Nadda held a roadshow in Hyderabad on Friday ahead of the Greater Hyderabad Municipal Corporation election. The roadshow was conducted from the Nagole Chowrasta to Kothapet Chowrasta in the city. Watch the full video for more.
Credit: HT Digital Content Duration: 03:10Published
Bharatiya Janata Party (BJP) president JP Nadda addressed a rally on November 27. He said, "In Jammu and Kashmir, NC leader Farooq Abdullah says he'll seek China's help to restore Article 370. PDP leader Mehbooba Mufti says she'll not raise tricolour until Jammu and Kashmir, Farooq 's flag is restored. These are our national leaders. Congress opposes Modi ji but ends up opposing the country. It stands with Gupkar alliance."