• Big Tech could improve lending market, BIS study says, but with risks attached
    08 April 2019
    Apple, Amazon and other deep-pocketed tech companies could invigorate the lending market, throwing a financial lifeline to those locked out from conventional finance, a recent study published by global banking regulators has suggested.

    But researchers at the Bank for International Settlements say in a new study that they need more time to tell whether or not the use of online lending based on artificial intelligence could transform the credit market.

    The study plays into an emerging debate as regulators across the world scratch their heads over what the emergence of Big Tech means for banking competition and regulation.

    By Jack Schickler.

    To request the full article please click here >

  • EU pushes China to knuckle down to trade and investment commitments ahead of summit
    05 April 2019
    The EU and China are still wrangling over a draft joint communiqué for their annual bilateral summit next Tuesday as Beijing pushes back on key demands from Brussels.

    Talks will continue over the weekend, but prospects for a breakthrough are bleak due to China’s reluctance to sign off on the “ambitious” proposals for the statement, according to senior EU officials.

    An early EU draft had included a long list of trade and investment commitments. It asked Beijing to take several steps this year to open up its economy to European companies by lowering market-access barriers and dropping discriminatory requirements for foreign investors such as forced technology transfers.

    By Joanna Sopinska.

    To request the full article please click here >

  • ​New ways needed to look at 'essential' data, Vestager report author says
    05 April 2019
    Modern giants of the Internet shouldn't be looked at with old legal theories designed for an age of infrastructure such as ports and waterways, Jacques Crémer, co-author of an influential report on technology policy, has said.

    The French professor told MLex the "essential-facilities doctrine" was "not appropriate" for dominant data-rich companies, and that they might instead face interoperability requirements to guarantee a "more continuous" flow of data to rivals.

    EU antitrust chief Margrethe Vestager commissioned Crémer and two other professors — Heike Schweitzer and Yves-Alexandre de Montjoye — to draft a report on how competition enforcement might change to deal with the challenges of technology companies.

    By Lewis Crofts.

    To request the full article please click here >

  • Tech giants can expect ‘mandate of action’ in next EU Commission, Vestager says
    14 March 2019
    Facebook, Google, Amazon and other big technology companies can expect the next European Commission to make changes to tackle the challenges of enforcement in digital markets, the EU's antitrust chief said.

    Competition Commissioner Margrethe Vestager said many problems in online markets would become “a matter of urgency” and that in the remaining months of her mandate, she wanted to “pave the way for changes.”

    While Vestager still harbors hope she will be part of the new EU executive when it takes office in November, she pointed toward work under way to review whether EU law was fit for an age where large companies dominate data markets.

    By Lewis Crofts.

    To request the full article please click here >

  • Spotify escalates Apple dispute with formal EU antitrust complaint
    13 March 2019
    Spotify has complained against Apple to EU antitrust officials, accusing it of restricting competition on its iPhones in favor of its own streaming service, Apple Music.

    The Swedish streaming platform says Apple has abused its “complete control” over the iOS mobile operating system and its App Store to impose unlawful conditions on rivals. It wants to ensure that all users of the App Store — including Apple Music — are “subject to the same set of rules and restrictions.”

    “After trying unsuccessfully to resolve the issues directly with Apple, we’re now requesting that the EU take action to ensure fair competition,” Daniel Ek, the co-founder and CEO of Spotify, said in a statement.

    By Natalie McNelis.

    To request the full article please click here >