US Department Of Justice To Investigate Large Technology Companies Involved In Antitrust Issues

As stated by the US financial media CNBC report, the US Department of Justice said on Tuesday it will run extensive anti-trust investigations on big technology businesses, inducing companies like Amazon, Alphabet and Facebook.

According to the US”Wall Street Journal” report, though the Ministry of Justice didn’t mention the particular company title, the bureau began the inspection according to the”new Washington hazard” from Facebook, Google, Amazon and Apple. The Justice Department said in a statement issued on Tuesday that the agency will analyze operational practices that govern the internet platform for Web search, social media and retail providers.

This is the most powerful movement by Attorney General William Barr for big technology businesses. As a result of their enormous market power and management of considerable quantities of customer information, these huge technology businesses are confronted with assorted testimonials by 2 parties. President Trump regularly accuses Amazon and firm CEO Jeff Bezos, also called Facebook’s bias against conservatives, also lately agreed that Google should likely deny the cloud together with the US authorities.

” If there is no meaningful market-based competition, the digital platform may act in a way that does not meet consumer demand ,” Makan Delrahim, assistant minister of the antitrust department in the Ministry of Justice, said in a statement. “The Ministry of Justice’s antitrust inspection will investigate these critical problems.”

This led to fall of share prices of Facebook, Alphabet and Amazon by more than 1 percent. Apple’s share price also dropped marginally.

Also Read: Facebook Has To Pay $100 Million Fines To Settle With The US Securities And Exchange Commission

Leave a Reply