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Exclusive: Europe wants single data market to break U.S. tech giants’ dominance – Source Reuters Tech News

BRUSSELS (Reuters) – The European Union wants to create a single market in data aimed at challenging the dominance of tech giants such as Facebook, Google and Amazon, according to a European Commission proposal seen by Reuters.

FILE PHOTO: The logos of mobile apps, Google, Amazon, Facebook, Apple and Netflix, are displayed on a screen in this illustration picture taken December 3, 2019. REUTERS/Regis Duvignau/File Photo

The proposal, which includes reining in big online platforms and could still be tweaked ahead of their presentation on Feb. 19, underlines the EU’s determination to break U.S. tech giants’ stranglehold on vast troves of data and better compete with Chinese rivals.

“Currently a small number of big tech firms hold a large part of the world’s data. This is a major weakness for data-driven businesses to emerge, grow and innovate today, including in Europe, but huge opportunities lie ahead,” a paper laying out the proposal said.

The 25-page document also…

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Source Reuters Tech News

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