Around the world (Reuters) —

U.S. technology firms including Amazon, Apple, Facebook, and Google face fines of up to 10% of annual turnover and could even be broken up under draft European Union rules announced on Tuesday aimed at curbing their powers.

The rules are the most serious attempt by the 27-country bloc to rein in tech companies that control troves of data and online platforms relied on by thousands of companies and millions of Europeans for their work and social interactions.

They show the European Commission's frustration with its antitrust cases against the tech giants, notably Alphabet's Google, which critics say have not addressed the problem. — Foo Yun Chee/@Reuters

Source: Reuters, full story