Tech giants to Face EU legal push on content, competition, taxes. #TheWallStreetJournal
Massive tech firms together with Google guardian Alphabet Inc., Amazon.com Inc. and Fb Inc. face a swath of proposed European rules aimed toward curbing their alleged anticompetitive habits, making them pay extra taxes and compelling them to shoulder extra duty for unlawful content material on their platforms, mentioned a prime European Union official.Margrethe Vestager, the EU’s digital-policy and antitrust czar, detailed for the primary time a complete plan of how she goals to rein in U.S. tech giants, utilizing a package deal of initiatives that the EU has begun to stipulate individually in current weeks. The intention is to obviously delineate new authorized boundaries for tech firms, slightly than simply apply present legal guidelines masking fields comparable to antitrust regulation.“It’s a full advanced of issues. It’s not performed with only one piece of laws,” Ms. Vestager mentioned in an interview with a small group of reporters. Ms. Vestager—who in her prior time period as European competitors commissioner levied report fines on Google and ordered Apple Inc. to pay Eire $14.5 billion in allegedly unpaid taxes—final yr was promoted to vice chairman of the European Fee, the EU’s govt arm, in control of competitors and new laws for the digital sector.