United Kingdom needs to meet Facebook, Google competition with new rules

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Philip Hammond has called on the UK's competition watchdog to investigate the murky world of digital advertising. The Panel was chaired by Professor Jason Furman and composed of experts in economics, competition policy, law and computer science - Professor Diane Coyle, Professor Amelia Fletcher, Professor Philip Marsden and Professor Derek McAuley.

A review of competition in the UK's digital market has said the country needs tough new rules to help counter the dominance of big tech giants like Facebook, Google and Amazon, AP reported.

Matthew Fell, chief United Kingdom policy director of the CBI, said new rules must "keep pace" with the tech industry.

The British government commissioned the review, which was led by Harvard University professor Jason Fuhrman, a chief economic adviser to former U.S. President Barack Obama.

The digital sector has created substantial benefits but these have come at the cost of increasing dominance of a few companies which is limiting competition and consumer choice and innovation. "I think the United Kingdom can do better". The panel of experts also suggested changes to merger rules were needed so the government had "more power" to stop digital acquisitions that were likely to "damage future competition, innovation and consumer choice".

English success in Champions League could make Nations League 'mess' - Southgate
Liverpool have previously taken part in six quarter-finals in the Champions League era, all of which have been post-2000. Southgate added: "What a great opportunity to win something, and then you don't actually get the team together".

Hammonds announcement follows on from a seperate report from the House of Lords published earlier this week which said the government should create a central "Digital Authority" to take responsibility for regulating the myriad watchdogs already operating in the space.

Its proposed data-sharing plan would work in much the same way as the Open Banking rules, which require banks to hand over all account-related information when a customer wants to switch to another bank, and so save the need for a customer to start over in building up a personal profile with a new network.

This said that market-leading tech giants should be forced to share their data under a package of proposals aimed at tackling their "bullying tactics".

Customers will be able to switch services more easily, taking their custom elsewhere and with greater control over their data. Lists of friends could be transferred to new social media sites and search histories could be transferred to a new search engine. He will make an initial response to the report in his Spring Statement on 13 March.

The panel has made 20 specific recommendations for the government. The need for the review becomes clear when one considers that the duopoly of Google and Facebook will account for 61.4% of global online adspend in 2019, a recent WARC Global Ad Trends report found.

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