EU officials agree on rules to rein in Big Tech dominance
2 years, 8 months ago

EU officials agree on rules to rein in Big Tech dominance

Associated Press  

BRUSSELS — European Union officials agreed Thursday on a landmark provisional agreement aimed at clamping down on the biggest online companies, dubbed digital “gatekeepers,” by laying out a list of dos and don’ts. With those rules, the bloc is seeking to prevent tech giants like Google, Meta and Apple from dominating digital markets, a change from its previous practice of issuing big fines for past antitrust violations. “The European Union has had to impose record fines over the past 10 years for certain harmful business practices by very large digital players,” said Cédric O, the French minister with responsibility for Digital, whose country currently holds the rotating presidency of the Council. The Digital Markets Act’s criteria for defining a gatekeeper have been tweaked to include companies earning at least 7.5 billion euros in annual revenue in Europe in the past three years, have a market value of 75 billion euros, provide services in at least three EU countries, and have 45 million users and 10,000 business users established in the EU.

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