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7/9, 11:23 AM (Source: TeleTrader)
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Biden to target big tech mergers, practices - report

United States President Joe Biden will sign an executive order on Friday addressing the business practices of tech companies, the New York Times reported. According to people familiar with the matter, the order will deal with mergers, as well as net neutrality rules, "specifically targeting big tech companies like Google, Facebook, Apple and Amazon."

The report stated Biden wants US regulators to "scrutinize the tech industry’s practices more closely," especially when it comes to big firms buying younger and smaller ones. In addition, the Federal Communications Commission (FCC) will be asked to "adopt new restrictions on the practices of broadband internet providers," as well as reinstate net neutrality rules, which were weakened under the Trump administration.

Breaking the News / DJ