US Justice Starts Cartel Investigation into Technology Giants
The US Department of Justice starts a cartel investigation into significant technology companies in the United States. That reported business newspaper The Wall Street Journal based on sources and was confirmed by the ministry shortly after that. It would be big names such as Amazon, Google mother Alphabet, Apple and Facebook.
The investigation of justice revolves around possible distortions of competition by companies on internet platforms, social media and webshop services.
It will demonstrate ‘whether and how leading online platforms have achieved their market position and engage in practices that have limited competition, hindered innovation, or otherwise prevented customers have been disadvantaged ‘, is the statement from the ministry.
On the stock exchanges in New York, the prices of the tech companies went down in trading after the news.
The companies that are assessed are not mentioned by name. But the research focuses on issues such as “search, social media and several online retail services.” That seems to mean Amazon, Alphabet, Facebook and possibly Apple.
The announcement of the investigation comes a day before the US regulator FTC reportedly announces that Facebook will be fined $ 5 billion for various privacy scandals.