LIVE: Biden Targets Competition in Tech, Health Care in Executive Order | Top News
Published Date: 7/9/2021
Source: Bloomberg Quicktake: Now
(July 9) President Joe Biden will sign a sweeping executive order designed to promote competition across American industries, calling on regulators to increase scrutiny of technology companies, drug prices, shipping and more. The president’s action will prompt the federal government to set new regulations on everything from airline luggage fees to non-compete clauses, according to a White House fact sheet. He will sign the order later Friday after delivering remarks on the American economy. The order will direct federal agencies to scrutinize tech companies’ use of consumer data and more closely examine industry mergers, in a nod to concerns that companies like Facebook Inc., Amazon.com Inc., Apple Inc. and Alphabet Inc.’s Google use that data to gain excessive market power. The order will also ask the Federal Communications Commission to reinstitute net neutrality rules that barred internet providers from blocking or slowing certain content or speeding up delivery for a price. Those rules had been implemented under former President Barack Obama but rolled back under former President Donald Trump. --- Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake