EU moves to regulate tech giants’ business practices

Tech giants like Google (NASDAQ:GOOGL), Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) will for the first time face rules regulating their commercial relations with smaller businesses under a law proposed by the European Union on Thursday.

The new rules will specifically target app stores, search engines, e-commerce sites and hotel booking websites like Expedia (NASDAQ:EXPE), requiring them to be more transparent about how they rank search results and why they delist some services.

The proposal would also give companies the right to collectively sue online platforms if they do not respect the new rules on non-discrimination and transparency./

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