EU agrees sweeping new digital rules in effort to curb big tech’s power

Digital Markets Act seeks to prevent the likes of Google and Facebook parent company Meta from dominating digital markets

The European Union reached an agreement on landmark digital rules to rein in online gatekeepers" such as Google and Facebook's parent company, Meta.

EU officials agreed late on Thursday on wording for the bloc's Digital Markets Act, part of a long-awaited overhaul of digital regulations with major implications for the global tech market. The act, which still needs other approvals, seeks to prevent the biggest of tech firms from dominating digital markets through the threat of fines or even the possibility of a company breakup.