- Alphabet Inc's AAPL Google unit, Facebook Inc FB, and Microsoft Corp MSFT emerged as the three biggest lobbying spenders in Europe against the strict laws on the U.S. tech giants, Reuters reports as per a recent study.
- Google topped spending at €5.75 million. Facebook spent €5.5 million, Microsoft at €5.25 million, and Apple Inc AAPL at €3.5 million. Huawei Technologies spent €3 million, and Amazon.com Inc AMZN bagged the sixth position with €2.75 million.
- The spending comes as countries are waking up to the effect of big tech companies on society. Politicians and regulators worldwide are vocal about curtailing the power and reach of the big tech players.
- While Korea's latest bill aims to curb Apple and Google's dominating app store commissions, China's latest tech regulations aim to curb anticompetitive and antitrust behavior.
- Price Action: GOOG shares closed lower by 0.01% at $2,909.24 on Tuesday.
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