Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Facebook, Twitter, Google CEOs will testify before U.S. Senate committee

Published 03/10/2020, 00:34
Updated 03/10/2020, 01:35
© Reuters. Facebook CEO Mark Zuckerberg makes his keynote speech during Facebook Inc's annual F8 developers conference in San Jose

By David Shepardson and Nandita Bose

WASHINGTON (Reuters) - The chief executives of Facebook (NASDAQ:FB) TWTR) and Alphabet-owned Google (O:GOOGL) have agreed to voluntarily testify at a hearing before the Senate Commerce Committee on Oct. 28 about a key law protecting internet companies.

Facebook and Twitter confirmed on Friday that their CEOs, Mark Zuckerberg and Jack Dorsey, respectively, will appear, while a source said that Google's Sundar Pichai will appear. That came a day after the committee unanimously voted to approve a plan to subpoena the three CEOs to appear before the panel.

Twitter's Dorsey tweeted on Friday that the hearing "must be constructive & focused on what matters most to the American people: how we work together to protect elections."

The CEOs are to appear virtually.

In addition to discussions on reforming the law called Section 230 of the Communications Decency Act, which protects internet companies from liability over content posted by users, the hearing will bring up issues about consumer privacy and media consolidation.

Republican President Donald Trump has made holding tech companies accountable for allegedly stifling conservative voices a theme of his administration. As a result, calls for a reform of Section 230 have been intensifying ahead of the Nov. 3 elections, but there is little chance of approval by Congress this year.

Last week Trump met with nine Republican state attorneys general to discuss the fate of Section 230 after the Justice Department unveiled a legislative proposal aimed at reforming the law.

© Reuters. Facebook CEO Mark Zuckerberg makes his keynote speech during Facebook Inc's annual F8 developers conference in San Jose

The chief executives of Google, Facebook, Apple Inc (NASDAQ:AAPL) and Amazon.com Inc (O:AMZN) recently testified before the House of Representatives Judiciary Committee’s antitrust panel. The panel, which is investigating how the companies’ practices hurt rivals, is expected to release its report as early as next Monday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.