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U.K. to launch new watchdog next year to police digital giants

Photo: Muhammed Selim Korkutata/Anadolu Agency/Getty Images

The U.K. government said on Friday that it will establish next year a Digital Markets Unit, which will enforce forthcoming "pro-competition" regulations aimed at curbing some of the digital platforms like Google and Facebook.

Why it matters: This is the latest move by a government to respond to growing objections to the size and power these companies have amassed.

  • The new unit will be part of the Competition and Markets Authority, which published in July a report on online platforms and digital advertising markets, and will start operating in April 2021.
  • The upcoming "code of conduct" the new unit will create and enforce will establish parameters for the expectations users can have from these services and promote greater data portability, transparency, and even more advertising choice for users.
  • Much of how how the unit will operate, the new regulations, and the penalties still need to be established.

The big picture: Meanwhile, U.S. regulators have filed or are working on antitrust cases against these same companies, while the European Union unveiled this week new regulations to give users more control over their data.

Go deeper

Ashley Gold
Jan 14, 2021 - Technology

Google completes Fitbit acquisition

Photo: Dursun Aydemir/Anadolu Agency via Getty Images

Google has completed its acquisition of connected fitness device maker Fitbit, the search giant announced in a blog post Thursday.

Why it matters: Google's successful purchase of Fitbit comes as antitrust regulators around the world scrutinize large tech companies for their acquisitions, past and present.

Go deeper (1 min. read)Arrow
Fadel Allassan
1 hour ago - Health

Moderna says vaccine appears to protect against new COVID-19 variants

Photo: Justin Tallis/AFP via Getty Images

Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.

Yes, but: The vaccine was as effective against the strain from U.K., but saw a six-fold reduction in antibodies against the South Africa variant. Even still, the neutralizing antibodies generated by the vaccine "remain above levels that are expected to be protective," according to the company.

Go deeper (<1 min. read)Arrow
Dave Lawler, author of World
Updated 1 hour ago - World

Xi Jinping warns against "new cold war" in Davos speech

Chinese President Xi Jinping. Photo: Wang Zhao - Pool/Getty Images

Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday at World Economic Forum’s virtual “Davos Agenda” conference.

Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.

Go deeper (1 min. read)Arrow