Google Publicly Criticizes Australian Antitrust Law

[Investment News Web]( [TODAY'S DEAL: Honestly, you should get this book](mailto:editor@investmentnewsweb.com?subject=Give+me+my+top+stocks+for+2020&body=Give+me+my+top+stocks+for+2020) Todays Top News [Google Publicly Criticizes Australian Antitrust Law] Google Publicly Criticizes Australian Antitrust Law On Monday, tech giant Google publicly criticized the proposed Australian antitrust laws, citing that the laws will affect its free search service, and that the users’ personal data could leak if it’s made to compensate news outlets for their content. Google further warned that the proposed amendments could wrongly benefit big media companies who will inflate their search rankings, in order to bring more traffic to their platforms. Not to mention, this will hurt small publishers and YouTube users who could lose their current viewers. The announcement marked an escalation of tension between the Australian Competition and Consumer Commission (ACCC) and the giant tech companies. ACCC has called for changes to control large tech platforms in the country. Do you think the ACCC is right to propose the changes? Investing [Asia Shares Push Ahead as Chinese Markets Jump] Asia Shares Push Ahead as Chinese Markets Jump On Monday, the Asian shares posted better results as those of China swung higher. Investors are still keeping an eye on whether the US treasuries would extend and help stabilize the beleaguered dollar. The Chinese blue chips posted the highest gains of 2.4%, with China’s central bank giving more loans to the financial system. Other organizations like Beijing’s Hungao granted a loan to CanSino Biologics, a company working on creating the coronavirus vaccine. In Japan, the Nikkei dropped by 0.6% after hitting a 6-month peak on Friday. This happened as Japan suffered the biggest economic contraction in history due the coronavirus pandemic. Don't Miss This [German Watchdog Launches Amazon Investigation] German Watchdog Launches Amazon Investigation An investigation has been launched into Amazon’s relationship with third-party traders by German’s antitrust authority. Speaking to the media, the President of the Federal Cartel Office, Mr. Andreas Mundt, said that the authority was investigating whether and how Amazon alters how businesses set prices on its site. With German being Amazon’s biggest market after the United States, this has raised concerns to them. This comes after the authority received complains during the first few months of the pandemic, saying that Amazon had prevented and restricted some traders due to extremely high prices. The authority insists that Amazon should not in any way control prices. Do you think the allegations against Amazon are true? [Japan Suffers the Biggest Economic Slump on Record] Japan Suffers the Biggest Economic Slump on Record As the pandemic continues to affect world economy, Japan’s has shrunk at the fastest rate on record. Japan, which is the third largest economy in the world, saw an overall fall of 7.8% in the period of April-June. Even before the pandemic, Japan was facing a stagnant economic growth, with many sectors being affected. The official financial report released on Monday is a steep reminder of the serious impact coronavirus pandemic has had on the country’s economy. Earlier this year, Japan had slipped into an economic recession after two consecutive quarters of economic downturn. The motor industry has also been hit hard. What measures should Japan put in place to save its economy? [Uber and Lyft Threaten to Shut Down in California] Uber and Lyft Threaten to Shut Down in California When faced with tough legislation regulations, Uber and Lyft always threaten to suspend the service in the area. As much as sometimes the companies follow through with the threat, it is mainly meant to put pressure on lawmakers and rile up customers. Today, Uber and Lyft are once again reading from the same playbook as they face a heated legal battle against their home state. The main issue is a new proposed law that could directly affect their business. Uber and Lyft are now threatening to suspend operations on the state of California as soon as Friday as they push to be exempted from the new law regarding employees. Do you think the proposed law is unfair to Uber and Lyft? [Vote Now] PS. How useful did you find today’s update? 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