Brussels, March 24 -Google of Alphabet (GOOGL.O), Amazon (AMZN.O), Apple (AAPL.O), Meta (FB.O), Microsoft (MSFT.O) are core Practice in Europe as EU countries and EU lawmakers signed an agreement on groundbreaking rules to curb their power on Thursday, when businesses may need to change.
France, which is currently taking turns hosting the EU Presidency, said in a tweet that there was a tentative agreement after the eight-hour talks.
In a tweet, EU industry leader Thierry Breton said the deal would ensure a fair and open digital market.
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“What we want is simple. It’s a digital and fair market. The large gatekeeper platform has prevented businesses and consumers from benefiting from a competitive digital market,” he said. Margrethe Vestager, chief of EU antitrust law, who proposed the rule over a year ago, said in a statement. ..
“This means that the era of long antitrust proceedings, in which authorities lag behind major tech companies, is over,” said Andreas Schwab, an EU parliamentarian who led the debate in the European Parliament.
The Digital Markets Act (DMA) sets the rules for online gatekeepers, companies that control access to data and platforms.
Targeted at online intermediary services, social networks, search engines, operating systems, online advertising services, cloud computing, video sharing services, web browsers, and virtual assistant gatekeepers.
Under DMA, technology giants need to make messaging services interoperable and provide business users with access to data. Business users can promote competing products and services on the platform and trade with customers outside the platform.
This rule prohibits companies from prioritizing their services over rivals or removing pre-installed software or apps from users.
DMA applies to companies with a market capitalization of € 75 billion, annual sales of € 7.5 billion and monthly users of more than 45 million.
Companies are fined up to 10% of global annual sales for violations of the rules and up to 20% for repeated violations.
Apple, which has been lobbying for DMA, has repeated concerns.
“While some provisions of DMA create unnecessary privacy and security vulnerabilities for users, we are concerned that other provisions prohibit the claiming of intellectual property for which we invest heavily. “The statement said.
Google, which reinforced lobbying last year, repeated the same feelings.
“We support many of DMA’s ambitions for consumer choice and interoperability, but we are concerned that some of these rules may reduce innovation and the choices available to Europeans. We will review the final text and figure out what we need to do to comply with the regulatory authorities. “
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Report by Hu Yun Qi; edited by Cynthia Osterman and Bernard Orr
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