Taiwanese President Tsai Ing-wen is expected to stop over in the U.S. on Friday on her way back from visiting diplomatic allies in the Caribbean, a move that's sure to make...China Politicsread more
Regional stability, oil prices and potential for war will all depend on what Iran does with its nuclear program in the event of the deal's termination.World Politicsread more
Libra and bitcoin are different in a lot of ways, from the technology behind them to the way they're used.Technologyread more
Stocks in major Asia Pacific markets made strong gains on Friday, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease...Asia Marketsread more
Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Earlier, Williams delivered a speech at the annual meeting of the Central Bank Research Association in which he said, "It's better to take preventative measures than to wait...The Fedread more
The base version of the sports car will punch out 495 horsepower, 40 more than the seventh-generation car and enough to launch it from 0 to 60 in "less than three seconds"...Autosread more
Animation fans and Kyoto residents gathered at the site of Japan's worst mass killing in 18 years on Friday, offering flowers and prayers for the 33 people who died in an...Asia Newsread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
"We've seen Netflix stumble before, especially maybe after a price hike, but not quite like this," Jim Cramer says.Mad Money with Jim Cramerread more
An Australian government review has suggested implementing a series of tough measures to curb the influence of U.S. tech giants.
Establishing a watchdog dedicated to regulating how Google and Facebook publish news, and preventing Google Chrome from being installed as the go-to browser on Australian devices, were among recommendations published by the Australian Competition and Consumer Commission (ACCC) on Monday.
The ACCC expressed concern in its report that tech giants were damaging Australia's traditional media outlets, as well as creating "filter bubbles" and giving credibility to less reliable news sources.
"Filter bubble" is a term referring to the intellectual isolation arising from personalised news feeds which are generated by algorithms that guess which information a user wants to see based on their personal data.
"Without adequate information and with limited choice, consumers are unable to make informed decisions, which can both harm consumers and impede competition," the report said.
The ACCC report included a proposal that would prevent Chrome, Google's internet browser, from being installed as a default browser on mobile devices, computers and tablets. It also proposed banning Google from being installed as the default search engine on other internet browsers such as Microsoft's Internet Explorer.
Another practical step proposed by the ACCC was giving a new or existing regulatory authority "the task of investigating, monitoring and reporting on how large digital platforms rank and display advertisements and news content." As well as tightening the regulation of news distribution, the ACCC recommended a "badging" system for media content shared on digital platforms, as well as incentives like tax deductions for tech companies that invested in the production of credible journalism.
It also suggested establishing a specific code of practice for digital platforms in relation to data collection. This would potentially be used to better inform consumers and "improve their bargaining power."
In a statement emailed to CNBC, a Facebook Australia spokesperson said: "We received the ACCC's preliminary report Monday, and we are currently reviewing their analysis and recommendations in more detail. As we have done over the past twelve months, we remain committed to working with the Commission as they review the contribution of all digital platforms in Australia."
A Google spokesperson told CNBC via email: "As we put forward in our submission, we develop innovative products to the benefit of consumers, businesses and the economy, and we work closely with advertisers and publishers across Australia. "
"Australian law does not prohibit a business from possessing significant market power or using its efficiencies or skills to 'out compete' its rivals," ACCC Chair Rod Sims said in a statement on Monday. "But when their dominant position is at risk of creating competitive or consumer harm, governments should stay ahead of the game and act to protect consumers and businesses through regulation."
He added that the ACCC was investigating five allegations that certain digital platforms had breached Australian competition or consumer laws.