- Five American technology companies are currently being investigated by the Federal Trade Commission (FTC) for possible breaches of regulations
- The named companies are Microsoft, Facebook, Google, Amazon and Apple
- According to the FTC, it is only giving out notices to the companies and this could lead to enforcement action
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The Federal Trade Commission (FTC) has ordered five big technology companies to reveal the details behind their acquisition of smaller businesses.
This follows concerns raised about possible acts of unfair and anti-competitive behavior exhibited by Amazon, Apple, Google, Microsoft and Facebook.
The companies are accused of unfairly using their clout to defend market share or expand into adjacent markets.
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The antitrust regulator has joined the Justice Department, the state attorney-general and the House Judiciary Committee to conduct investigations.
Per a report by venturebeat.com, massive deals such as the acquisition of Instagram by Facebook and the purchase of Whole Foods by Amazon, caught the eye of the regulators.
The chairperson of the FTC, Joseph Simons, indicated that notices have been issued to the big companies and are for research purposes.
He, however, indicated that it could lead to enforcement action if this evidence that there are problems.
Out of the five companies, only Microsoft responded to a request for comments, stating they are looking forward to working with the FTC to get to the bottom of the matter.
In other news, a reporter with American media company, Bloomberg, has ranked Ghana’s economy as one to watch in the near future.
Bloomberg’s reporter, Noah Smith, argued that the country has performed creditably on development metrics and simply needs to break free of dependence on commodities.
The report added that there are key indicators that show a country is becoming a pacesetter.
It listed United Kingdom (UK) as the country that set the tone for change in Europe, Japan as the change maker in East Asia and possibly Ghana being the country to watch in West Africa.
It has been argued that Ghana has certain advantages in the sub-region with regard to geography, institutions and human capital.
READ ALSO: Apple loses $27 million after delaying in opening its Chinese iPhone plants
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