• 165
  • 26
  • Favorite

Biden sees work needed to address problems created by big tech firms -White House

Reuters2021-06-23

WASHINGTON, June 22 (Reuters) - U.S. President Joe Biden believes steps are needed to safeguard privacy, bolster innovation and deal with other problems created by big technology platforms, the White House said on Tuesday, signaling his support for legislation concerning Big Tech.

Biden is encouraged by bipartisan work underway in Congress to tackle these issues, the official said, a day before the U.S. House Judiciary Committee votes on a package of antitrust bills, some of which target the market power of large tech firms.

"These platforms have transformed our daily lives, and showcase our country's ingenuity and potential, but also create real problems for users, small businesses, and tech startups," said the White House official.

"The president believes we need to address the problems these platforms create to protect privacy, generate more innovation, and make sure the great tech companies of the future can emerge and grow right here in the U.S.," the official said.

The House Judiciary Committee will vote on Wednesday on a package of six antitrust bills, including two that address the issue of giant companies, such as Amazon.com Inc and Alphabet Inc's Google, creating a platform for other businesses and then competing against those same businesses.

The legislation drew fire on Tuesday from the U.S. Chamber of Commerce, the largest U.S. business group, which warned it would have "dangerous consequences for America."

It said antitrust laws "should not be rigged against a small number of companies."

The White House hoped the bipartisan proposals would move forward in the legislative process and looked forward to working with Congress on the issue, the official added.

In a separate development, the Federal Trade Commission, whose new chairwoman has been critical of Amazon, has decided to review the company's planned purchase of U.S. movie studio MGM, a source familiar with the matter said.

Lina Khan was sworn in as FTC chair on June 15 in what was broadly seen as a victory for progressives seeking tougher antitrust enforcement.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment26

  • Venses
    ·2021-06-23
    ok
    Reply
    Report
  • paxxie
    ·2021-06-23
    like and comment 
    Reply
    Report
    Fold Replies
    • Bjmbjmls
      Hia
      2021-06-23
      Reply
      Report
  • thidar
    ·2021-06-23
    nice
    Reply
    Report
  • Ling_5360
    ·2021-06-23
    Yeah
    Reply
    Report
  • Bjmbjmls
    ·2021-06-23
    Regulations are needed, but regulations are also slowing down progress. We can have cake and eat it too
    Reply
    Report
  • jyau73
    ·2021-06-23
    Will White House look into all or selective?
    Reply
    Report
  • kukumolu
    ·2021-06-23
    Good initiative 
    Reply
    Report
  • Traderabbit
    ·2021-06-23
    Like n comment pls
    Reply
    Report
    Fold Replies
    View more 2 comments
  • Alihuat
    ·2021-06-23
    Would the moves be positive or....
    Reply
    Report
  • HermanL
    ·2021-06-23
    Okie
    Reply
    Report
  • henryxie1688
    ·2021-06-23
    Nice
    Reply
    Report
    Fold Replies
    • DarrylWong
      interesting
      2021-06-23
      Reply
      Report
    • HermanL
      up
      2021-06-23
      Reply
      Report
  • yvneyng
    ·2021-06-23
    Please like and follow. Will return the favour[Happy] 
    Reply
    Report
  • Siang1314
    ·2021-06-23
    Good
    Reply
    Report
    Fold Replies
    • HermanL
      nice
      2021-06-23
      Reply
      Report
  • Titu
    ·2021-06-23
    Gd gd
    Reply
    Report
  • Crystall
    ·2021-06-23
    Like and comment [Smile] 
    Reply
    Report
    Fold Replies
    • Erniebird
      Done!
      2021-06-23
      Reply
      Report
    • sncx00
      hi
      2021-06-23
      Reply
      Report
    • JoyceLoa
      Ok
      2021-06-23
      Reply
      Report
    View more 1 comments
  • GoG
    ·2021-06-23
    Regulations are needed, but regulations are also slowing down progress. We can have cake and eat it too
    Reply
    Report
    Fold Replies
    • GoG
      Regulations are needed, but regulations are also slowing down progress. We can have cake and eat it too
      2021-06-23
      Reply
      Report
  • LengLeng
    ·2021-06-23
    Like and comment pls, thanks
    Reply
    Report
    Fold Replies
    • LengLeng
      Thanks
      2021-06-23
      Reply
      Report
    • JoyceLoa
      Ok
      2021-06-23
      Reply
      Report
    • K74
      Reply pls
      2021-06-23
      Reply
      Report
    View more 1 comments
  • Ssoh
    ·2021-06-23
    Ya
    Reply
    Report
  • Mh1234
    ·2021-06-23
    Like and comment, thx 
    Reply
    Report
    Fold Replies
    • lyjoe
      hi
      2021-06-23
      Reply
      Report
    • JoyceLoa
      Ok
      2021-06-23
      Reply
      Report
    • WuM
      done! reply comment pls!
      2021-06-23
      Reply
      Report
  • henghm
    ·2021-06-23
    Like and comment
    Reply
    Report
    Fold Replies
    • JoyceLoa
      Ok
      2021-06-23
      Reply
      Report
    • WuM
      done! reply comment pls!
      2021-06-23
      Reply
      Report
    • Mh1234
      Like and comment, thx
      2021-06-23
      Reply
      Report
    View more 1 comments
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial