to connectVideoFox News Flash, important news, August 13
Fox News Flash, important news for the 13th of August are here. Check out what to click on Foxnews.com
The head of the Federal Trade Commission (FTC), has said that he is willing to break down the major tech companies due to the reversal of a past merger, if the agency’s probe of whether the companies are hurting from the competition.
Joe Simon, the COMMISSION’s chairman, who led a wide-ranging review of Silicon Valley’s mainstays, such as Facebook, said Tuesday that the break-up of a company can be a challenge, but it can be the appropriate tool to rein in the businesses who have broken the rules of fair competition.
“If you have to, you do it,” Simons told the international monetary Fund. “It’s not ideal, because it is very small. But if you must, you must.”
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The Tech titans are in the crosshairs as the federal Ministry of Justice and the FTC conduct probes of their behavior.
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Facebook has bought Instagram and WhatsApp, 2012, and 2014, respectively. Both acquisitions have been approved at the time of its COMMISSION. However, antitrust regulators would still be able to relax in such a merger. They would need a court order.
“It’s a question of what is the cause of Instagram are so successful, as it has been,” Simon said. “It Was the fact that the seed was already there, and it’s going to be germinated no matter what, whether it is the seeds germinated, since Facebook acquired it?”
In July, Facebook announced that the COMMISSION is conducting a review of its business practices related to social media, digital advertising and mobile applications. Separately, the Ministry of Justice has announced that it is conducting a wide-ranging investigation into the practices of the Large Tech operations, such as Google, Amazon and Apple.
“Without the discipline of effective market competition on the basis of a digital platform able to act in a manner which does not respond to the demand of the consumers,” Assistant Attorney General Makan Delrahim of the Anti-trust Division, said in a statement. “The department’s anti-trust review, will explore these important issues.”
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Of course, Facebook isn’t the only Silicon Valley company to be challenged on its mergers and dominant positions in the market.
US Sen. Elizabeth Warren, D-Mass., you have been called to a number of high-tech businesses, are being torn down, specifically referring to Google’s purchase of Waze, and Facebook’s purchase of Instagram in its business plans.
Facebook declined to comment when reached by Fox News for a while.