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Germany wants Big Tech to pay towards compliance costs of new digital law
Economic Times
·
1y ago
Medial
Germany is urging Big Tech companies like Alphabet, Amazon, Apple, ByteDance, Meta Platforms, and Microsoft to contribute to the compliance costs of new EU regulations designed to limit their influence. The Digital Markets Act (DMA) requires these companies to comply with a set of rules by March 7. The proposed financing model for these costs would be similar to that of the Digital Services Act (DSA), where large online platforms pay a supervisory fee based on their annual worldwide net income. Additionally, Germany suggests EU antitrust enforcers prioritize key sectors with international significance to enhance European competitiveness.
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No plans to get Big Tech to pay digital law compliance costs, EU tech chief says - The Economic Times
Economic Times
·
16d ago
Medial
The European Commission will not require major tech companies like Alphabet, Amazon, and Apple to cover the costs of monitoring their compliance with the Digital Markets Act, according to EU tech chief Henna Virkkunen. Despite calls from Germany and European Parliament lawmakers to impose a supervisory fee on Big Tech to aid enforcement, Virkkunen stated there are no current plans to introduce such proposals, although developments will be monitored.
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Digital competition law: Large internet firms not in favour of ‘ex-ante’ regulations
Economic Times
·
1y ago
Medial
Indian consumer internet giants Zomato, Swiggy, Flipkart, and Oyo are against new regulations proposed by a government-appointed committee to regulate potential abuses of antitrust laws. The committee suggested a new digital competition law with an ex-ante framework to address dominance abuse by big tech companies. While some Indian firms like Paytm and MakeMyTrip support the proposal with certain conditions, Zomato, Swiggy, Flipkart, and others argue that the regulations could stifle innovation and harm small players. Amazon and Flipkart also oppose ex-ante rules, highlighting the potential for increased compliance costs and regulatory overlap.
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Who pays for AI’s power?
The Verge
·
10d ago
Medial
Big Tech companies are increasingly required to sign long-term electricity contracts and pay for surplus power as utility companies seek to avoid the costs of powering new data centers needed for AI development. These demands aim to prevent the financial burden of additional infrastructure costs from impacting consumer energy bills. Tech giants are turning to various power sources, like nuclear and coal, to meet energy demands, underscoring the ongoing energy challenges posed by AI advancements.
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Data privacy law: Digital payment companies, NPCI seek pause on consent clause - The Economic Times
Economic Times
·
3d ago
Medial
Major digital payment companies, including Google Pay, PhonePe, and Amazon Pay, along with NPCI, are seeking exemption from the Digital Personal Data Protection (DPDP) Act's provisions that mandate explicit user consent for each transaction. They argue that this requirement complicates processes and increases costs, especially for smaller businesses and startups. The industry hopes for a temporary exemption to develop alternative solutions without hindering digital innovation, as compliance demands could impact operations and potentially increase costs for consumers.
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British regulators look into Big Tech and digital wallets
Economic Times
·
1y ago
Medial
The UK Financial Conduct Authority and Payments Systems Regulator are investigating the use of digital wallets by Big Tech companies, such as Apple Pay, Google Pay, and PayPal. They are examining potential concerns regarding competition, consumer protection, and market integrity. Digital wallets have become increasingly popular among UK adults and serve as an important connection between Big Tech firms and consumers. Regulators aim to understand the benefits and risks associated with digital wallets and their impact on payment options at checkout. They plan to provide an update on this issue by Q1 2025.
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Network fee on Big Tech not a viable solution to boost EU digital rollout, EU says - The Economic Times
Economic Times
·
8d ago
Medial
The European Commission believes imposing a network fee on Big Tech isn't viable for funding 5G and broadband rollout, despite pressure from major telecoms. Telecom companies like Deutsche Telekom and Orange argue Big Tech should share costs since they generate significant internet traffic. However, Big Tech resists, calling it an "internet tax." A forthcoming EU legislative proposal, the Digital Networks Act, aims to enhance digital infrastructure without network fees, taking a comprehensive approach.
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Google threatens to stop linking to news in New Zealand
Livemint
·
10m ago
Medial
- Google has threatened to stop linking to news in New Zealand if a bill requiring digital platforms to pay for news articles is passed into law. - New Zealand aims to join Australia and Canada in passing legislation that compels tech companies like Google and Meta to pay for news content. - The bill proposes a "link tax" that would require Google to pay for linking to news articles, which the company argues is not the right approach. - Google has stated that it would discontinue its current agreements and support for New Zealand publishers if the bill becomes law. - Media outlets support the bill, citing declining advertising revenue and the need to address the power of digital platforms in the digital ad supply chain. - Google has previously made similar threats in Australia and Canada but later reached agreements to support news businesses.
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Why is the EU probing Big Tech under the Digital Markets Act?
Economic Times
·
1y ago
Medial
The European Union has launched investigations into Alphabet, Apple, and Meta (formerly Facebook) for potentially breaching the Digital Markets Act (DMA), which aims to prevent unfair advantage for Big Tech. The investigations will focus on anti-steering behavior in payment systems and self-preferencing of products. Apple's compliance with uninstallation and default settings changes, as well as Meta's pay-or-be-tracked policy, will also be examined. Violations could result in fines of up to 10% of a company's global annual turnover. Google and Apple have expressed confidence in their compliance, while Meta says it is trying to adhere to the act's guidance.
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Trouble For Big Techs? MCA Invites Public Feedback On Draft Digital Competition Bill
Inc42
·
1y ago
Medial
The Ministry of Corporate Affairs in India has sought public feedback on a draft Digital Competition Bill, which aims to regulate the practices of big tech companies and other significant digital enterprises. The bill recommends the creation of a Digital Competition Act to enable the Competition Commission of India to regulate large digital entities. Other recommendations include the establishment of quantitative thresholds for designating systemically significant digital enterprises, the obligation for transparent grievance redressal mechanisms, and the empowerment of the Centre to exempt certain enterprises from the bill. The bill also imposes various obligations on big tech companies, such as ensuring cybersecurity and compliance with local laws.
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Canada regulator to impose fee on Google for online news law's operating costs
Economic Times
·
5m ago
Medial
A Canadian regulator will impose a fee on Google to recover costs for enforcing a law mandating large internet platforms pay for news content. The fee, part of the Online News Act effective April 1, reflects global efforts to have tech giants compensate media. Google agreed to a C$100 million annual payment after negotiations, while Meta blocked Canadian news on its platforms. Despite Google's objection to the fee's fairness, the policy focuses on applicable digital platforms.
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