Facebook and Google under US Commission Scrutiny
There have been a lot of issues with Google and Amazon. This made them get examined from the FTC. As a result, they were brought into the category of antitrust companies. Google experienced a great downfall in its share after the news broke.
Now, the commission has turned to Facebook as well as Apple. This step was taken by the US government as both of these companies were affecting the digital competition. The news of examination by the commission affected the shares of both Facebook as well as Apple.
They both experienced a fall in their shares by more than 5%. These giants are working against the competition and are, therefore, preventing the start-ups and many other smaller tech companies to grow. As a result, they were to be examined under the Trump administration.
There are many reports which claim that the companies are under the watch of FTC and justice department. Also, Google and Amazon have been under the watch by this same commission. Despite the loss, experienced by the techno giants, this step has proven to be beneficial for the other techno companies.
They are getting a better chance to showcase their work to the share market as well as the customers. This intervention by the FTC will be helpful for economic development as it was the major cause for which this policy was applied. Both Facebook and Apple have commented on this, after a while. However, there has been no comment received from the commissions.