FT News Briefing Big tech antitrust hearings, Moderna prices vaccine, Fed extends emergency lending
Jul 29, 2020
The heads of major tech firms are set to face Congress in a historic antitrust hearing, aiming to address market dominance and its effect on smaller rivals. Moderna is pricing its COVID-19 vaccine between $50 and $60 per course amidst ongoing pandemic concerns. Meanwhile, the Federal Reserve is extending emergency lending measures, while Europe braces for another surge in coronavirus cases that may trigger new regulations. The discussions promise significant implications for both the tech industry and public health.
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Big Tech Hearing
- The hearing marks the first time these CEOs testify together before Congress, following a 13-month antitrust investigation.
- Lawmakers aim to address concerns about market dominance and the ability of smaller rivals to compete.
Bipartisan Concerns, Differing Approaches
- The hearing has bipartisan support, with both Democrats and Republicans expressing concerns about Big Tech's dominance, though they differ on regulation approaches.
- Republicans may target alleged anti-conservative bias, while Democrats may focus on insufficient policing of extremist groups.
Part of a Larger Investigation
- The hearing is part of a broader antitrust investigation, with this CEO testimony being a key component.
- The investigation will produce a report that informs future legislative proposals.