UK Markets close in 58 mins

EU drafts rules to force big tech companies to share data - FT

·1-min read
EU flags flutter in front of the European Commission headquarters in Brussels
EU flags flutter in front of the European Commission headquarters in Brussels

(Reuters) - The European Union (EU) is preparing to force big technology companies to share their customer data with smaller rivals, the Financial Times reported on Wednesday, citing an early draft of its landmark 'Digital Services Act' regulations.

"The likes of Amazon and Google shall not use data collected on the platform . . . for (their) own commercial activities . . . unless they (make it) accessible to business users active in the same commercial activities," the FT reported, quoting the draft.

EU antitrust chief Margrethe Vestager would announce by the end of this year tough new rules under the Act, aimed to increase social media companies' responsibilities and liability for content on their platforms.

The draft suggests that technology giants may be banned from preferential treatment of their own services on their sites or platforms, to the detriment of rivals, according to the report.

Companies should not be allowed to pre-install their own applications on hardware devices, such as laptops or phones, or force other companies to exclusively pre-install their software, it added.

(Reporting by Rama Venkat in Bengaluru; Editing by Rashmi Aich)