The European Union’s executive branch issued drafts of two bills that would hike fines for illegal content and anticompetitive behavior up to 6 percent or 10 percent of annual worldwide revenue and even break up Big Tech firms to stop “competitive abuses.” Although the bills don’t mention any firms by name, they could be applied to Amazon, Apple, Facebook and Google. The UK, which is no longer part of the EU, has similar legislation in the works that would fine abusers up to 10 percent of annual global revenue. Continue reading EU Proposes Two New Laws in Its Effort to Regulate Big Tech

On December 2, European Commission EVP and commissioner for competition Margrethe Vestager and European commissioner for internal market Thierry Breton plan to announce the new rules governing powerful online companies. Among the draft rules of the Digital Services Act and Digital Markets Act, Big Tech companies will have to share data with rivals and regulators. Alphabet chief executive Sundar Pichai also apologized to Breton over a leaked document revealing his company’s proposed tactics against the European Union’s new, tougher rules. Continue reading European Union Plans to Announce Regulations for Big Tech