The U.S. Justice Department is investigating antitrust claims against Big Tech. It may end in nothing, but the distraction comes at a cost. jennifersaba GinaChon
The U.S. Department of Justice’s antitrust division is reviewing whether market-leading online social-media and retail-services platforms have achieved market power and if they are engaging in practices that stifle competition and innovation. The regulator didn’t name companies, but the scope would probably include Alphabet’s Google as well as Amazon, Facebook and Apple.
The Federal Trade Commission on July 24 fined Facebook $5 billion for mishandling user data. On the same day the Securities and Exchange Commission fined Facebook $100 million for misleading investors about the risks it faced from misusing data. Facebook is reporting second-quarter earnings after U.S. stock markets close on July 24. Alphabet and Amazon will report results on July 25, with Apple following on July 30.
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