How Google and Amazon stock price could affect the US dollar
The price of the most widely traded stock in the world is the subject of a wide-ranging investigation by the Federal Reserve Board, and the Federal Communications Commission.
An independent panel has been given the task of determining whether Google Inc and Amazon.com Inc are acting in a way that is detrimental to the US economy and, if so, whether they should be regulated as monopolies or as publicly traded companies.
The Wall Street Journal reports that the Federal Trade Commission will issue a preliminary report by late February.
The Wall Journal reports:The Wall of Justice will conduct a broader investigation into Google’s search business and whether its practices are harming the US financial system.
The FCC is expected to make a final determination in the coming months.
In October, a group of internet companies including Amazon and Google Inc filed suit in a New York federal court to try to block the FCC from regulating the tech giants.
Google had previously asked the court to consider the merits of an antitrust case filed by Amazon and Microsoft against the FCC in a similar case filed in 2015.
In its filing, Google said it was “not a monopolist” and that “the FTC’s inquiry is unnecessary and unwarranted.”
The Wall is reporting that the FTC is examining whether Google and other tech companies are acting as “corporate monopolies” or as “public companies.”