financetom
Business
financetom
/
Business
/
US House panel yet to vote on data portability bill in Big Tech session
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US House panel yet to vote on data portability bill in Big Tech session
Jun 23, 2021 11:56 PM

The US House of Representatives Judiciary Committee voted to approve a bill to give antitrust enforcers more money in a lengthy session on Wednesday but had still to vote on four bills aimed at reining in Big Tech.

US Representative Jerrold Nadler, the Democratic chairman of the Judiciary Committee, called the bills a "historic package of bipartisan legislation" aimed at "reining in anti-competitive abuses of the most dominant firms online."

After approving bills to sharply increase the budgets of the agencies enforcing antitrust law and to ensure that antitrust cases brought by state attorneys general remain in the court they select, a debate began on a bill that would require platforms to allow users to transfer their data elsewhere

There has been a flurry of opposition to the most sweeping reform bills, including from the powerful US Chamber of Commerce, Amazon.com Inc, Apple Inc, Facebook Inc, and Alphabet Inc's Google.

Debate on the portability bill initially focused on whether the legislation was written to ensure it would not affect Microsoft, a long-time Google antagonist.

Asked whether any bills were changed to exclude Microsoft, Representative David Cicilline, chair of the committee's antitrust panel and the driving force behind bills aimed at the four tech giants, responded: "Absolutely not."

Representative Pramila Jayapal said that it was possible that Microsoft would be covered by the four Big Tech bills, all of which have the same definition of which companies they affect.

Lawmakers voted overwhelmingly to change that definition to say that all online platforms, not just mobile platforms, were covered by the bill.

The four tech giants spent the past two years under federal, state and congressional investigation into how they use their clout to extend their dominance into adjacent markets or abuse their dominance.

Two of the remaining bills address the issue of companies, like Amazon and Google, creating a platform for other businesses and then competing against those businesses. One would require the competing business to be sold while the other would require platforms to refrain from favouring their own businesses.

A third would require a platform to refrain from any merger unless it could show the acquired company does not compete with it.

(Edited by : Priyanka Deshpande)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Qualys Q1 Adjusted Earnings, Revenue Rise; Lifts 2026 Outlook
Qualys Q1 Adjusted Earnings, Revenue Rise; Lifts 2026 Outlook
May 6, 2026
03:18 AM EDT, 05/06/2026 (MT Newswires) -- Qualys ( QLYS ) reported Q1 adjusted earnings late Tuesday of $1.95 per diluted share, up from $1.67 a year earlier. Analysts polled by FactSet expected non-GAAP EPS of $1.80. Revenue for the quarter ended March 31 was $175.6 million, up from $159.9 million a year ago. Analysts surveyed by FactSet expected $173.7...
BRIEF-Adyen CFO Says US Dual Listing Not Company's Focus At The Moment
BRIEF-Adyen CFO Says US Dual Listing Not Company's Focus At The Moment
May 6, 2026
May 6 (Reuters) - Adyen Chief Financial Officer, Ethan Tandowsky, in interview with Reuters: * DUAL LISTING IN US NOT OUR FOCUS AT THE MOMENT * WE HAVE A VERY INTERNATIONAL INSTITUTIONAL INVESTOR BASE, VERY LONG-TERM ORIENTED INVESTOR BASE * NOT LOOKING TO BUY PAYMENTS INFRASTRUCTURE, GROWING IN INORGANIC WAY IN PAYMENTS NOT THE STRATEGY WE SHOULD TAKE Further company...
Bayer to buy Perfuse Therapeutics in up to $2.45 billion deal
Bayer to buy Perfuse Therapeutics in up to $2.45 billion deal
May 6, 2026
May 6 (Reuters) - Bayer said on Wednesday that it will buy biopharmaceutical company Perfuse Therapeutics to complement its ophthalmology pipeline. The deal has a potential value of up to $2.45 billion, the company said in a statement, with a $300 million upfront payment and additional development, regulatory and commercial milestone payments based on success criteria. The deal will give...
Navitas Semiconductor Q1 Adjusted Loss Narrows, Revenue Declines; Issues Q2 Revenue Guidance
Navitas Semiconductor Q1 Adjusted Loss Narrows, Revenue Declines; Issues Q2 Revenue Guidance
May 6, 2026
03:26 AM EDT, 05/06/2026 (MT Newswires) -- Navitas Semiconductor ( NVTS ) reported a Q1 adjusted loss late Tuesday of $0.04 per diluted share, narrowing from a loss of $0.06 a year earlier. Analysts polled by FactSet expected a non-GAAP loss of $0.05 a share. Revenue for the quarter ended March 31 was $8.6 million, down from $14 million a...
Copyright 2023-2026 - www.financetom.com All Rights Reserved