Australia framing regulatory code of conduct between media outlets and digital platforms, sees revenue sharings from Facebook and Google

On Monday, Australia’s Treasurer Josh Frydenberg disclosed, Canberra will force online giants including Alphabet Inc’s Google and Facebook Inc to share advertising revenue with local media firms. Australia is set to become one of the firts countries to require digital platforms to pay for content that they use. The development comes in the wake of…

Australia imposes record fine of $86 million on VW for breaching emission standards

On Friday, Australian competition regulator penalized Volkswagen AG $86 million for its alleged false representations about compliance with Australia’s diesel emission standards. The exemplary fine is the highest ever ordered by the court for contraventions of the Australian Consumer Law, said the Australian Competition and Consumer Commission (ACCC) in a statement. According to the ACCC,…

Facebook, Google has up to Nov. 2020 to comply to Australian competition rules

On Thursday, Australia made it lucidly clear to technology giants Facebook Inc and Google Inc that will have to agree and comply to Australia’s new rules, designed to ensure that they do not abuse their market power and damage competition, failing which the government will impose new controls on them. In a statement, Australian Prime…