Australia wants to “lift the veil” on how big U.S. tech companies use people’s data
CANBERRA, Australia—Tech giants Facebook Inc. and Alphabet Inc.’s Google could have their secretive algorithms policed by a beefed-up watchdog, under what Australia describes as world-first limits to the power that they wield over news and advertising markets.
The recommended changes—which include strengthening privacy safeguards with steep penalties of up to 10% of annual domestic turnover for the misuse of data—are made in a report by the national competition regulator after a year-and-a-half investigation into the impact...Facebook's plan to release its own currency, called Libra, has sparked a range of concerns among lawmakers. WSJ’s Paul Vigna explains.
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