The Australian Competition and Consumer Commission has suggested that a regulatory entity which can investigate and curb the influence of technology giants Google and Facebook be set up, as part of the recommendations in a preliminary report from its inquiry into digital platforms.
ACCC chair Rod Sims says the competition regulator is well placed to take enforcement action on data issues, but has warned of the possibility of a reduction in competition in some instances in “fast moving” digital markets.
The founders of Instagram, which was bought by Facebook in 2012 for US$1 billion, have decided to leave the parent company, becoming the second prominent resignation from the company in recent times.
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