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Mike Norman Economics 2021-01-22 17:18:38

Summary:
Australians could soon be deprived of Google’s ubiquitous search engine, with the web behemoth threatening to cut off service should lawmakers pass a hot-button measure forcing tech firms to cough up revenue to media outlets.As Australian legislators continue to debate the controversial law – which would compel internet platforms to hand over a cut of revenues to press agencies for sharing their content – Google stepped into the fray on Friday, insisting the move would make its operations unfeasible in the country.Internet growing pains. RTGoogle threatens to REMOVE search engine in Australia if legislators force it to share profits with news content creators

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Australians could soon be deprived of Google’s ubiquitous search engine, with the web behemoth threatening to cut off service should lawmakers pass a hot-button measure forcing tech firms to cough up revenue to media outlets.

As Australian legislators continue to debate the controversial law – which would compel internet platforms to hand over a cut of revenues to press agencies for sharing their content – Google stepped into the fray on Friday, insisting the move would make its operations unfeasible in the country.

Internet growing pains.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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