A common refrain we hear from Tech Companies is, during the course of the investigation, but also on my own, since i have minute them in my district is that they cant be violating Anti Trust Laws and the primary argument is that many of their products are cheap or free, and therefore they are inherently benefiting. We have talked about this, to me the big question is its free really free . Consumers are paying for the product that they use, paying ended up, paying in privacy that they give up and often dont know they are giving up. The big Tech Companies and use that data to build these massive empires of information about consumers that give them spectacular advantage over newcomer businesses, allowing the companies to scrutinize every aspect of peoples lives, create and sell products that have the best chance of being successful. You mentioned the history of acquisitions. Facebook at made 67 on talents acquisitions, amazon has made 97, and google had made 214, mostly unchallenged acq
One on the role of data and prime fancy into competition. I recognize myself, i should state the obvious im, not bitter of the subcommittee, and chairs the subcommittee, the chair of the committee will be here in a few minutes. It has never been easier to share news and information that content and communicate with loved ones, all at a moments notice. Given the technological recognitions it, has added to the balance of power in our economy. Its important for us to understand how this affects americans, what is causing the asymmetries of power and whether these new and growing inequalities are compatible with our democratic values. The committees ongoing is a key part of this practice. Todays hearing, we will examine the role that data plays and maintaining any qualities of power, and how this affects competition. As previous hearings have shown, the growing share of Congress Communications is now controlled by a small number of companies. These platforms are innocent, largely intermedi
Thank you very much for being with us. Thousands of protesters a settled in for the night in hong kong this the continuation of the weekend protest against the plan. To pass a little to allow extradition to china human Rights Groups say the move threatens freedom the former british colony and business sources say theres already evidence that the move. Is making investors think twice. In spite of the protest the chief executive of hong kong says the lord will be passed. Rain and thunderstorms didnt stop thousands from coming out an online petition called for fifty thousand people to surround hong kongs Legislature Building at ten pm tuesday. And stay until morning thats when the Legislative Council which is dominated by pro beijing lawmakers will resume debate on a contrtroversial extradition bill. One that would allow people to be sent to Mainland China for trial. That maybe we should. Do something less violent but more effective wayss for example like we i am not going to schoo. Some
Is on the road to recovery. Joining me now is kathleen brooks, Research Director at the stockbrokers xtb. No great surprise the bank didnt decide to make a move on rates. The forecast is still later in the year but it is interesting when we look at how those members of the mpc voted, we get a sense of what could happen next. Voted, we get a sense of what could happen next happen next. Absolutely, the two members that happen next. Absolutely, the two members that voted happen next. Absolutely, the two members that voted for happen next. Absolutely, the two members that voted for a happen next. Absolutely, the two members that voted for a hike i happen next. Absolutely, the two | members that voted for a hike last month and for the last five months before all the other members, or most of the other members, were voting to remain on hold, they moved to the other side so they are no longer looking for rate hikes, so that has made the path to cuts much easier on the market has made a huge s
We start with the social media app tiktok because its ceo has vowed to keep on fighting after the us House Of Representatives passed a bill that could see the app banned in america. Shou zi chew released a video on tiktok threatening legal action and warning that if the bill becomes law it will mean the end of tiktok for its 170 million users in the us. Well hearfrom him injust a moment, but first, heres our us Business Correspondent erin delmore who has been following developments on capitol hill. The houseboat sets the stage for what could become an ultimatum to tiktok Chinese Owned Company bytedance. Selby avenue or it will be banned. There is a way to go between here and there. It needs to go through this and it faces an uncertain future. The Senate Majority leader has been noncommittal about whether he will bring it up for a vote. Some studies are only about to vote against it. If it does move through the senate, President Biden that he will sign it. Components of the bill argue t