The Trader 

Market Outlook: US Department of Justice targets tech

The Trader

Not naming names, but America’s Department of Justice has started a review of monopolistic tendencies as to ‘whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers’. Last week a US Congressional Committee held a hearing with executives from tech firms asking about anti-competitive practices. Yesterday’s DoJ announcement comes one day before the Federal Trade Commission is expected to announce a $5 billion fine for Facebook for failing to protect user privacy.

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