U.S. DoJ opens wide new antitrust probe of...>

STOCKS: U.S. DoJ opens wide new antitrust probe of tech platforms (Axios)

- The DoJ said Tuesday it had launched an inquiry into the market power of major

online platforms & whether they are "are engaging in practices that have reduced

competition, stifled innovation, or otherwise harmed consumers."

- While the announcement mentioned no specific companies, its reference to

looking at concerns about "search, social media, and some retail services

online" would appear to point towards Google, Facebook and Amazon.

- Without the discipline of meaningful market-based competition, digital

platforms may act in ways that are not responsive to consumer demands," said

Makan Delrahim, the assistant attorney general who leads the department's

Antitrust Division.

- The specifics of the inquiry are still unclear. So is its relationship to a

reportedly planned Justice Department investigation into Google - part of a

broader deal that split up antitrust authority over major tech companies between

the agency and the Federal Trade Commission.

- Link: https://tinyurl.com/y629q7zl