Reuters: Britain will implement a New Deal to contain Google and Facebook
It is reported that the United Kingdom will implement a new competition mechanism next year to prevent Google and Facebook from using their advantages to compete unfairly.
The regulation will be implemented by the Digital Market Department of the Competition Regulatory Agency (CMA), which will begin work in April next year. It has the power to suspend, block and overturn the decisions of technology companies and impose fines on violations.
In addition, the regulation will provide support to the journalism industry and rebalance the relationship between publishers and platforms.
Currently, the CMA is evaluating whether the complaint about Google is worthy of a formal investigation.
Wall Street Journal: Disney lays off another 32,000 employees
It is reported that due to the impact of the new crown epidemic, Disney plans to lay off 32,000 employees again, this time layoffs mainly involve Disneyland.
In addition, the company also said that it is considering other measures to deal with the new crown epidemic, such as reducing or not paying certain payments, reducing investment in movies and TV content, and implementing vacation measures.
Although the new crown has dealt a heavy blow to Disney’s businesses such as parks and movies, the company’s direct-to-consumer business has become a bright spot.
The company plans to launch an international streaming service platform under the Star brand outside the United States in 2021.
Nikkei Asian Review: The Philippines will enable digital banking
The Central Bank of the Philippines said on Thursday that to further expand digital financial services, it will allow the establishment of digital banks. Digital banks are banks without physical branches.
According to the draft, the minimum capital requirement of a digital bank is 20 million U.S. dollars, which can provide more innovative services than traditional banks, but it must be based in the Philippines and cannot establish physical branches.
The Governor of BSP stated that they are accepting applications for new licenses, hoping to expand the digitization of transactions in the Philippines by introducing digital banks, but will control the number of digital banks based on actual conditions.