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Apple, Google to face antitrust board that owns those firms' stocks

  • Amazon
  • Apple
  • Facebook
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  • Money
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  • Jeff Bezos
  • Mark Zuckerberg
  • Sundar Pichai
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Amazon, Apple, Facebook, and Google CEOs to face antitrust board that owns $100K of those companies’ stocks

Business Insider’s Aaron Holmes letters that three of the assembly tasked with arch an antitrust assay into the operations of Amazon, Apple, Facebook, and Google own more than $100,000 in stocks of those tech firms — not the best way to run a probe.

In their coverage, Holmes noted that Rep. Jim Sensenbrenner from Wisconsin owns more than $98,000 in stocks in all four companies combined; Rep. Zoe Lofgren of California has amid $1,000 and $15,000 of stocks in Facebook, Apple, and Alphabet each, though she’s sold some of those shares recently; Rep. Steve Chabot of Ohio holds amid $15,000 and $50,000 of Facebook shares.

To be clear, it’s not actionable for assembly to own shares of the companies they’re investigating, but it could absolutely lead to a acumen of battle of absorption in this case.

Amazon’s Jeff Bezos, Apple’s Tim Cook, Facebook’s Mark Zuckerberg, and Alphabet’s Sundar Pichai are set to affirm before the House Judiciary Antitrust Board on Monday, July 27. However, Axios noted that this could be adjourned until August 3 to allow Washington to mourn the late civil rights leader John Lewis, who died beforehand this week.

The assay is attractive to bare whether these tech giants are unfairly using their massive access in their corresponding markets to stifle antagonism from abate rivals. They’ve been under the scanner of the United States Justice Department and the House Judiciary Board since last July, each for altered reasons:

  • Amazon may have been baronial its own accessories higher than those of other brands in its massive online stores.
  • Apple is believed to rank its own apps and casework higher in search after-effects for its App Store, and its acquirement administration model with developers that offer in-app purchases is also being scrutinized. Spotify made a big noise about it last year.
  • Facebook is under fire for attempting to advance its lead in the social networking space by accepting competitors, and using the capabilities of Onavo, a data assay firm it bought in 2013, to bolster its position.
  • Google will be broiled over the company’s practices of administering users of its search engine to after-effects from its own products, like Maps and Flights.

The tech world at large will have eyes on this investigation, as the aftereffect could have major implications for the future of how these companies accomplish with their ally and rivals.

Published July 24, 2020 — 06:37 UTC

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