EU to unveil landmark law curbing power of tech giants

  • Firms could be fined up to 10% of their annual turnover for violating competition rules.
  • Tech giants could be entirely banned from the EU market over "serious and repeated breaches of law," AFP reported.
  • Large tech firms would be designated as internet "gatekeepers" — making them subject to stricter regulations.
  • Companies would need to inform the EU ahead of any planned mergers or acquisitions.
  • Certain kinds of data must be shared with regulators and rivals.
  • Companies favoring their own services could be outlawed.

#Technology #Politics