Tech giants prepare for strict new EU laws

Regulators around the world are bearing down on tech giants, which they see as having become too big, too powerful and too profitable.

Many of the world's leading tech companies have a presence in Ireland including search giant Google. File Picture: Stephen Collins

US tech giants are bracing for new laws that could force sweeping changes to how they operate in Europe, with significant fines or, in extreme cases, orders to break up the worst offenders.

The new Digital Markets Act, set to be proposed by the European Union on Tuesday, targets so-called gatekeeper companies, platforms with the power to control distribution in their markets.