Amazon, Google, Facebook, Apple. The usual suspects.
US House Antitrust subcommittee
- releases 449 page report detailing market power abuse by those 4 above
- panel's report says Amazon has monopoly over third-party sellers and has engaged in extensive anti-competitive conduct in its treatment of such sellers
- says Amazon's dual role as a marketplace operator and also a seller on the marketplace creates an "inherent conflict of interest"
- Congressional staff recommended that Congress consider a law that prohibits companies from operating the markets in which it competes
- says Facebook has monopoly power in social networking and it has maintained dominance by identifying rivals and then copying, acquiring or killing them
- panel report says Facebook acquired Whatsapp, Instagram and Onavo to entrench its dominance
- says Facebook now considers competition within its own products to be more considerable than competition from outside firms
- says Amazon's control and reach across many businesses allows it to self-preference and undermine competitors
- Says Amazon appropriates third-party seller's data and steals ideas to benefit amazon's retail business
- says Apple exerts monopoly power over software distribution to more than half the mobile devices in the united states
- says Apple uses its dominant position to exploit and exclude rivals and preference its own apps and services
- says Apple has entrenched dominance in the mobile operating system market and the app store
Yesterday we got the news that:
Trump already gave stocks a kick lower:
- Risk trades drop after Trump halts stimulus negotiations
- Trump says Pelosi not negotiating in good faith. Instructs a halt to negotiations
Risk FX seeing a few further offers on the Panel report.
