Australia tells Facebook and Google to commit to competition rules, or else

Australia's government said technology companies would need to agree to the new rules by November 2020 or it will impose them. — Reuters

SYDNEY: Australia said on Dec 12 technology giants such as Facebook Inc and Google will have to agree to new rules to ensure they do not abuse their market power and damage competition, or the government will impose new controls on them.

Prime Minister Scott Morrison said the Australian Competition and Consumer Commission (ACCC) will create a code of conduct to address complaints that the technology companies have a stronghold on advertising, the main income generator of local media operators.