NEW EU RULES LIKELY TO FORCE U.S. TECH FIRMS TO CHANGE BUSINESS PRACTICES IN EUROPE

Highlights

• This move has been made to keep tech giants in control and curb the emergence of anti-competitive dominant companies

• As per the new draft EU rules major technology companies in the U.S. including likes of Apple and Facebook may require to change their business practices in Europe

• Failure to do so will result in facing fines of as much as 10 percent of their annual turnover