REUTERS: The U.S. Department of Justice is investigating whether big technology companies are engaged in anticompetitive behaviour, addressing a rising tide of criticism they have become too powerful to the detriment of consumers.
European antitrust regulators fined Google US$5 billion in 2018 and ordered it to stop using its Android platform to block competitors. The European Union alleged that Google's illegal actions include forcing device manufacturers, who use the Android platform on their phones, to pre-install Google apps on devices, blocking out competitors' apps.
In 2012, Facebook bought social media app Instagram, one of its competitors. In 2014, it bought another of its competitors, messaging platform WhatsApp. But in a 2018 letter to shareholders, Chief Executive Officer Jeff Bezos said"Amazon remains a small player in global retail" because most commerce still happens offline.
U.S. Treasury Secretary Steven Mnuchin said in an interview with CNBC on Wednesday there was"no question" that Amazon limits competition and has harmed U.S. retailers.
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