Alphabet and Facebook Trade Higher before European Union Copyright Reforms

Alphabet and Facebook traded higher before the European Union’s executive branch proposes a broad package of copyright reforms this week, according to media reports.

Among other things, the proposals are expected to help musicians and their record companies earn more by making streaming services such as YouTube beef up their ability to fight piracy, according to a report from the Wall Street Journal.

The rules may, however, also mean Google pays publishers for using their content. Facebook might have to do the same and WhatsApp could have to follow tougher telecom standards, said a report from the New York Times.

For many executives from American tech companies, such plans, which will still take years to come into effect and which will be subject to intense lobbying, feel like another round of protectionism, it added.

European policy makers say they are only following the region’s stringent laws aimed at protecting people’s rights in an increasingly digital world and are not specifically targeting American tech giants, according to the report.

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