EU Challenges Big Tech: Google Search, WhatsApp, TikTok, And 19 Others Face DMA Scrutiny
Portfolio Pulse from Benzinga Neuro
The European Commission has identified major tech companies including Alphabet Inc. (GOOG), Amazon.com Inc. (AMZN), Apple Inc. (AAPL), Meta Platforms Inc. (FB), and Microsoft Corporation (MSFT) as 'gatekeepers' to be regulated under the new Digital Markets Act (DMA). The DMA aims to limit the market dominance of these companies and requires them to compete based on the merits of their products and services. Companies failing to comply could face fines of up to 10% of their total worldwide turnover.
September 06, 2023 | 11:39 am
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NEGATIVE IMPACT
Apple Inc. is identified as a 'gatekeeper' under the new DMA regulations by the European Commission.
The new DMA regulations could potentially limit Apple's market dominance in Europe and require changes in their business practices. Non-compliance could lead to significant fines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Amazon.com Inc. is identified as a 'gatekeeper' under the new DMA regulations by the European Commission.
The new DMA regulations could potentially limit Amazon's market dominance in Europe and require changes in their business practices. Non-compliance could lead to significant fines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Meta Platforms Inc. is identified as a 'gatekeeper' under the new DMA regulations by the European Commission.
The new DMA regulations could potentially limit Meta's market dominance in Europe and require changes in their business practices. Non-compliance could lead to significant fines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Alphabet Inc. is identified as a 'gatekeeper' under the new DMA regulations by the European Commission.
The new DMA regulations could potentially limit Alphabet's market dominance in Europe and require changes in their business practices. Non-compliance could lead to significant fines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Microsoft Corporation is identified as a 'gatekeeper' under the new DMA regulations by the European Commission.
The new DMA regulations could potentially limit Microsoft's market dominance in Europe and require changes in their business practices. Non-compliance could lead to significant fines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100