The Fort Worth Press - US lawmakers advance Big Tech competition bill

USD -
AED 3.672499
AFN 64.000163
ALL 82.459813
AMD 376.320031
AOA 916.999894
ARS 1387.017863
AUD 1.421676
AWG 1.8
AZN 1.695079
BAM 1.671981
BBD 2.012823
BDT 122.815341
BHD 0.377276
BIF 2970.5
BMD 1
BND 1.273995
BOB 6.905365
BRL 5.1008
BSD 0.999316
BTN 92.260676
BWP 13.408103
BYN 2.916946
BYR 19600
BZD 2.009908
CAD 1.38539
CDF 2300.999702
CHF 0.791815
CLF 0.022797
CLP 897.240136
CNY 6.83625
CNH 6.835615
COP 3649.77
CRC 464.865789
CUC 1
CUP 26.5
CVE 94.849798
CZK 20.916898
DJF 177.720115
DKK 6.408303
DOP 60.649653
DZD 132.463001
EGP 53.252598
ERN 15
ETB 155.625045
EUR 0.85755
FJD 2.214899
FKP 0.744078
GBP 0.74685
GEL 2.685013
GGP 0.744078
GHS 11.015012
GIP 0.744078
GMD 73.000145
GNF 8780.000092
GTQ 7.645223
GYD 209.079369
HKD 7.834155
HNL 26.620024
HRK 6.460999
HTG 131.013289
HUF 324.049489
IDR 17074.9
ILS 3.096015
IMP 0.744078
INR 92.72225
IQD 1310
IRR 1315000.000268
ISK 123.320093
JEP 0.744078
JMD 157.315666
JOD 0.709021
JPY 158.856011
KES 129.195659
KGS 87.449743
KHR 4013.999891
KMF 424.500704
KPW 899.95413
KRW 1482.585038
KWD 0.30894
KYD 0.832781
KZT 477.797202
LAK 21962.506225
LBP 89531.243299
LKR 315.00748
LRD 184.201822
LSL 16.615039
LTL 2.95274
LVL 0.60489
LYD 6.34497
MAD 9.305006
MDL 17.208704
MGA 4137.503608
MKD 52.852464
MMK 2099.780124
MNT 3575.250437
MOP 8.062591
MRU 40.098027
MUR 46.579771
MVR 15.459947
MWK 1737.000218
MXN 17.44645
MYR 3.982973
MZN 63.959478
NAD 16.609838
NGN 1379.526725
NIO 36.730379
NOK 9.58785
NPR 147.619434
NZD 1.71528
OMR 0.384506
PAB 0.999308
PEN 3.40375
PGK 4.310187
PHP 59.732028
PKR 279.000192
PLN 3.64719
PYG 6482.581748
QAR 3.646016
RON 4.368702
RSD 100.629368
RUB 78.533888
RWF 1460.5
SAR 3.752889
SBD 8.04851
SCR 14.899105
SDG 600.999953
SEK 9.32866
SGD 1.275101
SLE 24.650265
SOS 571.502969
SRD 37.553991
STD 20697.981008
STN 21.44
SVC 8.744604
SYP 110.553826
SZL 16.615015
THB 32.049014
TJS 9.498763
TMT 3.5
TND 2.891968
TRY 44.56189
TTD 6.778082
TWD 31.824299
TZS 2605.000387
UAH 43.307786
UGX 3697.197396
UYU 40.598418
UZS 12230.0006
VES 474.416899
VND 26321
VUV 119.534712
WST 2.769292
XAF 560.735672
XAG 0.013519
XAU 0.000212
XCD 2.70255
XCG 1.8011
XDR 0.698977
XOF 564.0003
XPF 102.550256
YER 238.575016
ZAR 16.425039
ZMK 9001.173951
ZMW 19.112505
ZWL 321.999592
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    0.1500

    22.29

    +0.67%

  • RELX

    0.5700

    33.93

    +1.68%

  • CMSD

    0.2100

    22.5

    +0.93%

  • BCC

    4.5200

    79.23

    +5.7%

  • GSK

    1.5300

    57.37

    +2.67%

  • RIO

    3.7900

    98.45

    +3.85%

  • NGG

    2.4400

    89.96

    +2.71%

  • BTI

    1.1500

    59.95

    +1.92%

  • BCE

    0.2900

    24.12

    +1.2%

  • RYCEF

    -0.5000

    15.25

    -3.28%

  • JRI

    0.1600

    12.85

    +1.25%

  • BP

    -1.3500

    45.89

    -2.94%

  • AZN

    3.4600

    204.27

    +1.69%

  • VOD

    0.4600

    15.77

    +2.92%

US lawmakers advance Big Tech competition bill
US lawmakers advance Big Tech competition bill

US lawmakers advance Big Tech competition bill

A US Senate panel endorsed legislation Thursday that would block tech giants from prioritizing their products over those of smaller rivals, a potentially major reform that will face a tough fight in Congress.

Text size:

Partisan deadlock has doomed a series of previous bills aimed at cracking down on problems ranging from privacy to business competition for these goliaths, but the 16-6 vote by the Judiciary Committee signalled some momentum.

The American Innovation and Choice Online Act was advanced with bi-partisan support, setting it on a path to be considered by the full Senate -- but still a long ways from being law.

Under the bill, dominant platforms like Amazon or Google would be barred from discriminating against other companies that rely on their services to do business.

For example, Amazon would not be allowed to list its brand of products higher than a competitor that also uses the platform to sell to consumers.

Even though Thursday's hearing is just one step in a lengthy potential journey to President Joe Biden's desk, Big Tech firms have flexed their muscle in opposition.

"I spent about 40 minutes on the phone yesterday with Tim Cook, the CEO of Apple, who expressed significant concerns about the bill," conservative Senator Ted Cruz told the hearing, before voting in favor of the legislation.

Kent Walker, president of global affairs and chief legal officer for Google parent Alphabet, also lobbied hard with a blog post titled: "The harmful consequences of Congress's anti-tech bills."

Criticism of Big Tech power swelled last year after the Facebook whistleblower scandal revealed the firm knew its platforms could hurt teens' well-being -- giving renewed momentum to regulation efforts.

However, US lawmakers have long lagged behind the technology and social issues it has become entwined in, while Republicans and Democrats have been unable to agree on an approach.

Yet the efforts targeting the industry's titans have drawn support from smaller companies like review site Yelp and web privacy service DuckDuckGo.

"Dominant technologies companies' ability to give their own products and services preferential placement, access, and data on online platforms and operating systems prevents companies like us from competing on the merits," over three dozen firms told lawmakers in a letter.

The bill, however, comes as Biden's Democrats have the narrowest of control over Congress, with legislative elections set for November.

Biden has struggled to get major portions of his domestic agenda through Congress, seeing setbacks on voting rights as well as his social spending package.

Yet Senator Amy Klobuchar argued Thursday that taking on Big Tech is vitally important, too.

"What this is about, at its core, is monopolies," she told the hearing. "We have to look at this differently than just start-up companies in a garage. That's not what they are anymore."

C.M.Harper--TFWP