Business Briefs
[naviga:h3]Proposal breaks up Internet giants[/naviga:h3]
WASHINGTON — Democratic Sen. Elizabeth Warren, a 2020 presidential candidate, proposed a plan to break up Google, Facebook and Amazon on Friday, declaring war on the country’s most powerful technology firms and a culture of “weak antitrust enforcement” that allowed them to grow so big.
In a Medium post, the Massachusetts Democrat accused the three firms of using “resources and control over the way we use the Internet to squash small businesses and innovation, and substitute their own financial interests for the broader interests of the American people.”
“To restore the balance of power in our democracy, to promote competition, and to ensure that the next generation of technology innovation is as vibrant as the last, it’s time to break up our biggest tech companies,” Warren wrote.
The proposal is the latest sign that growing public concern with the manner in which so-called Big Tech firms have increased their hold in numerous sectors of the economy — and how they have handled Americans’ data in the process — will feature in the upcoming primary season.
Warren’s announcement came ahead of a campaign rally later Friday in Long Island City.
[naviga:h3]British PM pushes parliament in Brexit[/naviga:h3]
LONDON — Prime Minister Theresa May tried to pressure U.K. lawmakers Friday to support her Brexit deal, warning that Britain may never leave the European Union if they vote down the agreement next week.
Battling to stave off a second defeat for the unpopular divorce deal, May also implored the EU to help her make “one more push” to get the agreement through a skeptical Parliament.
British lawmakers are due to vote for a second time Tuesday on the deal, which they overwhelmingly rejected in January. If Parliament throws out the deal again, lawmakers will vote on whether to leave the EU without an agreement or to ask the EU to delay Brexit beyond the scheduled March 29 departure date.
“Back it and the U.K. will leave the European Union,” May said. “Reject it and no one knows what will happen.”
British lawmakers’ concerns about the divorce deal center on a provision designed to keep an open border between the U.K.’s Northern Ireland and EU member Ireland. The mechanism, known as the backstop, is a safeguard that would keep the U.K. in a customs union with the other 27 EU countries to remove the need for checks until a permanent new trading relationship is in place.
