Factbox-How the EU's Digital Markets Act challenges Big Tech

FILE PHOTO: European flags fly outside the European Commission headquarters in Brussels, Belgium March 13, 2023. REUTERS/Yves Herman/File Photo

LONDON (Reuters) - New European Union rules will rewrite the basic tenets of business on the internet and on mobile, upending how Big Tech makes money and how consumers access these services.

The Digital Markets Act (DMA) is one of the world's toughest pieces of legislation targeting the world's top technology companies' market clout and is aimed at making it easier for people to move between competing services – such as social media platforms, internet browsers and app stores.