European regulators have released a list of big tech companies who will be facing tougher regulations in terms of market influence.
The idea behind the campaign is that larger companies should share data with rivals, have increased transparency in data collection and face tougher regulations compared to smaller ones. It seems that Amazon, Facebook and Google will be part of the targeted companies.
The Organization for Economic Cooperation and Development, which is the largest global watchdog seeks to change international tax rule and bring in an extra $100B. Finance ministers around the world are expected to have a look and see if it could be implemented in 2021.
The EU is said to be releasing legal measures so major tech companies would share data with competitors and refrain from putting their apps and services up front and center. By the end of 2020 it’s expected to be publicized in order to stop lengthy antitrust proceedings and cases.