Tech giants gird for business threats under strict new EU laws

The European Union’s plans come as regulators around the world are bearing down on tech giants, which they see as having become too big, too powerful and too profitable. — AFP

US tech giants are bracing for new laws that could force sweeping changes to how they operate in Europe, with significant fines or, in extreme cases, orders to break up the worst offenders.

The new Digital Markets Act, set to be proposed by the European Union on Dec 15, targets so-called gatekeeper companies, platforms with the power to control distribution in their markets.