www.bloomberg.com Open in urlscan Pro
151.101.193.73  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to content


Skip to content
Bloomberg the Company & Its ProductsThe Company & its ProductsBloomberg Terminal
Demo RequestBloomberg Anywhere Remote LoginBloomberg Anywhere LoginBloomberg
Customer SupportCustomer Support

Bloomberg Webinars: Access a broad range of analysis, research, insight & ideas.

Europe Edition

 * UK
   
 * Europe
   
 * US
   
 * Asia
   
 * Middle East
   
 * Africa
   
 * 日本
   

Sign In Subscribe



 * Live Now
   
   
   BLOOMBERG TV+
   
   
   BLOOMBERG CHIEF FUTURE OFFICER:JACK HARTUNG, CHIPOTLE CFO
   
   
   
   
   BLOOMBERG RADIO
   
   
   BLOOMBERG DAYBREAK EUROPE
   
   Overnight on Wall Street is morning in Europe. Bloomberg Daybreak Europe,
   anchored live from London, tracks breaking news in Europe and around the
   world. Markets never sleep, and neither does Bloomberg News. Monitor your
   investments 24 hours a day, around the clock from around the globe.
   
   Listen
   
   --------------------------------------------------------------------------------
   
   
   QUICKTAKE
   
   
   MY HUSTLE - E-COMMERCE
   
   A 9-year-old fascinated with robots now runs his own company with a full-time
   staff of adults who help teach other children about robotics. A baseball
   fanatic has created an enterprise that sends out subscription boxes full of
   baseball gear on a monthly basis, from training equipment to sunflower seeds.
   And finally, meet the young men who, with the help of music superstar Drake,
   help people get into the increasingly lucrative world of professional online
   gaming.
   
   
   ALSO STREAMING ON YOUR TV:
   
   
 * * Markets
     Markets
      * Deals
      * Odd Lots
      * The FIX | Fixed Income
      * ETFs
      * FX
      * Factor Investing
      * Alternative Investing
      * Economic Calendar
      * Markets Magazine
     
     
     MARKETS
     
     Race for 2022’s Top Stock Market Goes Down to Final Trading Day
     
     
     MARKETS
     
     Here Are the Places Imposing New Covid Rules for China Travelers
     
     
     MARKET DATA
     
      * Stocks
      * Commodities
      * Rates & Bonds
      * Currencies
      * Futures
      * Sectors
     
     View More Markets
   * Economics
     Economics
      * Indicators
      * Central Banks
      * Jobs
      * Trade
      * Tax & Spend
      * Inflation & Prices
     
     
     FUTURE OF BRITISH BUSINESS
     
     UK Consumers Vow to Cut Eating Out and Non-Essential Shopping
     
     
     ECONOMICS
     
     US Immigrants Generate 36% of Nation’s Innovation, Study Finds
     
     
     ECONOMICS
     
     Italy Reaches All 55 EU Recovery Fund Targets to Unlock Payments
     
     View More Economics
   * Industries
     Industries
      * Consumer
      * Energy
      * Entertainment
      * Finance
      * Health
      * Legal
      * Real Estate
      * Telecom
      * Transportation
     
     
     HYPERDRIVE
     
     BYD Hikes Pricing for Dolphin Model Despite Slowing Car Demand
     
     
     TRAVEL
     
     Southwest Chaos Is Told-You-So Moment After Warnings on Old Tech
     
     
     FEATURED
     
      * Business of Sports
     
     View More Industries
   * Technology
     Technology
      * Code Wars
      * Checkout
      * Prognosis
     
     
     TECHNOLOGY
     
     TSMC Mass-Produces Next-Gen Chips to Safeguard Global Lead
     
     
     TECHNOLOGY
     
     Chinese Gaming Bonanza Ignites Tencent, Asian Gaming Rally
     
     
     TECHNOLOGY
     
     Honda Hybrids in China Facing Large Recall Due to Faulty Pedals
     
     View More Technology
   * Politics
     Politics
      * US
      * UK
      * Americas
      * Europe
      * Asia
      * Middle East
     
     
     POLITICS
     
     Marcos to Raise South China Sea Issue With China During Visit
     
     
     POLITICS
     
     Pakistan Army Vows to Eliminate Taliban Offshoot as Attacks Rise
     
     
     FEATURED
     
      * Next China
     
     View More Politics
   * Wealth
     Wealth
      * Investing
      * Living
      * Opinion & Advice
      * Savings & Retirement
      * Taxes
      * Reinvention
     
     
     INVESTING
     
     Long Island Leads Biggest Luxury Home Sales Drop on Record
     
     
     INVESTING
     
     Stock Hedge Funds Erase Billions With Another Year of Losses
     
     
     FEATURED
     
      * How to Invest
     
     View More Wealth
   * Pursuits
     Pursuits
      * Travel
      * Autos
      * Homes
      * Living
      * Culture
      * Style
     
     
     PURSUITS
     
     ‘Corsage’ Gives a Modern Edge to Austria's Empress Elisabeth
     
     
     TRAVEL
     
     Airlines Keep Capacity Tight Despite Boom in Chinese Demand
     
     
     FEATURED
     
      * Screentime
      * New York Property Prices
      * Where to Go in 2022
     
     View More Pursuits
   * Opinion
     Opinion
      * Business
      * Finance
      * Economics
      * Markets
      * Politics & Policy
      * Technology & Ideas
      * Editorials
      * Letters
     
     
     JOHN AUTHERS
     
     From Tesla to Turkey, a Perfect Year for Hindsight
     
     
     MATTHEW BROOKER
     
     A London Landmark to Cherish? When Pigs Fly
     
     
     CHRIS HUGHES
     
     Deglobalization Will Drive Dealmaking in 2023
     
     View More Opinion
   * Businessweek
     Businessweek
      * The Bloomberg 50
      * Best B-Schools
      * Small Business Survival Guide
      * 50 Companies to Watch
      * Good Business
      * Subscribe to the Magazine
     
     
     THE BIG TAKE
     
     China’s $1.3 Trillion Housing Crackdown Leaves Few Winners
     
     
     TECHNOLOGY
     
     The Chatbots Are Coming for Google
     
     
     TECHNOLOGY
     
     Banks Open Data-Protection Vault to Other Financial Businesses
     
     View More Businessweek
   * Equality
     Equality
      * Corporate Leadership
      * Capital
      * Society
      * Solutions
     
     
     EQUALITY
     
     Britain’s Youngest Workers Are Too Sick to Work
     
     
     EQUALITY
     
     JPMorgan to Extend Ukrainian Refugee Program Into Next Year
     
     
     FEATURED
     
      * In Trust Podcast
     
     View More Equality
   * Green
     Green
      * New Energy
      * ESG Investing
      * Weather & Science
      * Electric Vehicles
      * Climate Politics
      * Greener Living
      * Cleaner Tech
     
     
     GREEN
     
     China Starts Work on Huge $11 Billion Desert Renewables Project
     
     
     GREEN
     
     Big Growth in Electric Heat Set Stage For Blackouts in US South
     
     
     FEATURED
     
      * Data Dash
      * Hyperdrive
     
     View More Green
   * CityLab
     CityLab
      * Design
      * Culture
      * Transportation
      * Economy
      * Environment
      * Housing
      * Justice
      * Government
      * Technology
     
     
     GOVERNMENT
     
     Why Child Care Centers in New York City Are Shutting Their Doors
     
     
     TRANSPORTATION
     
     How Jersey City Got to Zero Traffic Deaths on Its Streets
     
     
     CITYLAB
     
     One of World’s Most Crowded Cities Gets First Mass-Transit Rail
     
     View More CityLab
   * Crypto
     Crypto
      * Decentralized Finance
      * NFTs
      * Regulation
      * Technology
     
     
     CRYPTO
     
     US Probes How $372 Million Vanished in Hack After FTX Bankruptcy
     
     
     CRYPTO
     
     Would You Buy an NFT From a Vending Machine? (Podcast)
     
     
     View More Crypto
 * More
   
   --------------------------------------------------------------------------------
   
   
   
   





Technology


META HIT WITH EU ANTITRUST CHARGES OVER MARKETPLACE SERVICE

 * EU sends statement of objections over concerns of unfair tying
 * Case is latest round of EU-wide crackdown on power of Big Tech

By

Stephanie Bodoni

+Follow
December 19, 2022 at 10:50 AM GMTUpdated onDecember 19, 2022 at 3:40 PM GMT


SHARE THIS ARTICLE


Copied
New
Gift
Gift this article

Exit

Subscriber Benefit

Bloomberg subscribers can gift up to 5 articles a month for anyone to read, even
non-subscribers! Learn more

Subscribe

Sign In

Follow the authors
@StephanieBodoni
+ Get alerts forStephanie Bodoni


Meta Platforms Inc. was hit with a formal complaint from European Union
antitrust watchdogs for allegedly squeezing out classified ad rivals by tying
the Facebook Marketplace to its own social network.

The European Commission said Monday it issued a so-called statement of
objections to Meta, paving the way for potential fines or changes to the firm’s
business model. 




“With its Facebook social network, Meta reaches globally billions of monthly
users and millions active advertisers,” EU Antitrust Commissioner Margrethe
Vestager said in an email announcing the escalation of the case. “Our
preliminary concern is that Meta ties its dominant social network Facebook to
its online classified ad services called Facebook Marketplace,” meaning
“Facebook users have no choice but to have access to Facebook Marketplace.” 

The EU watchdog said it’s also concerned that Meta imposes unfair trading
conditions which allow it to use data on competing online classified ad
services. 

The case is the latest in a long-running Europe-wide crackdown on the market
power of tech firms such as Google, Apple Inc. and Amazon.com Inc. that’s led to
multiple probes, fines and beefed-up laws. The EU previously fined Facebook for
failing to provide correct information in the merger review of the WhatsApp
takeover. Meta is also the subject of investigations in the UK and Germany




Tim Lamb, Meta’s head of EMEA competition, said in a statement that the “claims
made by the European Commission are without foundation.” He said the company
“will continue to work with regulatory authorities to demonstrate that our
product innovation is pro-consumer and pro-competitive.”



Meta shares fell 3% at 10:36 a.m. in New York, almost eight times the Russell
3000 Index Computer Services Subsector. The stock has declined 65% in the past
52 weeks. 



The Brussels-based EU regulator has been investigating Meta’s Facebook since
2019. The platform sought to curb the probe with lawsuits to limit what
information officials could scoop up.



Amazon Likely to Settle EU Antitrust Cases by the End of Year

Monday’s move against Meta comes as the EU is poised to announce a settlement in
a similar probe into how Amazon uses rivals’ sales data and whether it unfairly
favors its own products. 

Despite ramping up the Meta case, the EU on Monday also closed a separate
antitrust probe into an advertising pact between Meta and Alphabet Inc.’s Google
dubbed “Jedi Blue,” after concluding the agreement didn’t hurt competition. The
UK’s CMA is continuing its investigation into the accord.

(Updates with shares in seventh paragraph)




SHARE THIS ARTICLE


Copied
New
Gift
Gift this article

Exit

Subscriber Benefit

Bloomberg subscribers can gift up to 5 articles a month for anyone to read, even
non-subscribers! Learn more

Subscribe

Sign In

Follow the authors
@StephanieBodoni
+ Get alerts forStephanie Bodoni

Have a confidential tip for our reporters?
Get in touch
Before it's here, it's on the
Bloomberg Terminal
Learn more


LIVE ON BLOOMBERG
Watch Live TVListen to Live Radio
Video Player is loading.
Play Video
Pause
Unmute

Current Time 0:17
/
Duration -:-:-
Loaded: 0%


0:00:17
Progress: 0%
Stream Type LIVE
Remaining Time --:-:-
 
Playback Rate

1x
Chapters
 * Chapters

Captions
 * captions settings, opens captions settings dialog
 * captions off, selected
 * english

Fullscreen

This is a modal window.



Beginning of dialog window. Escape will cancel and close the window.

TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%Text Edge
StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional
Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall
Caps
Reset restore all settings to the default valuesDone
Close Modal Dialog

End of dialog window.


Play Again




MOST READ

 * Pursuits
   Milan Reports 50% of Passengers on China Flights Have Covid
 * Pursuits
   Southwest Air Memos Showed Growing Alarm on Eve of Epic Winter Storm
 * Businessweek
   China’s $1.3 Trillion Housing Crackdown Leaves Few Winners
 * Pursuits
   Southwest Chaos Is Told-You-So Moment After Warnings on Old Tech
 * Pursuits
   US to Require Negative Covid Tests for Travelers From China


Copy Link

Terms of Service Manage Cookies Trademarks Privacy Policy ©2022 Bloomberg L.P.
All Rights Reserved
Careers Made in NYC Advertise Ad Choices Help



Register to read more.Get Startedcontinue