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World Business Report: First broadcast 09/12/2020 22:32 GMT: Major US lawsuits seek break up of Facebook

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AirBnB prepares for initial public offering

First broadcast 09/12/2020 22:32 GMT

First broadcast 09/12/2020 22:32 GMT: Major US lawsuits seek break up of Facebook

Major US lawsuits seek break up of Facebook

BBC World Service - World Business Report, Major US lawsuits seek break up of Facebook

The company is accused of taking illegal actions to buy up rivals and stifle competition.

US federal regulators and more than 45 state prosecutors have sued Facebook, accusing the social media company of taking illegal actions to buy up rivals and stifle competition. The lawsuits are one of the most significant legal actions the US government has taken against the firm. Officials are asking the court to consider breaking up the company, which also owns Instagram and WhatsApp. We hear from Sally Hubbard,  former anti-trust lawyer in New York City and the director of enforcement strategy at the Open Markets Institute. 

Shares in the online home rental site AirBnB will start trading in New York on Thursday. Professor Howard Yu tells us why they are listing now. And we get the perspective of AirBnB host Karen Fraser, who owns a converted double decker bus in Nairobi, Kenya. 

Also in the programme, the BBC's Ed Butler examines whether pharmaceutical companies are likely to release their drug patents for medicines and vaccines related to coronavirus. 

PHOTO: Reuters

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First broadcast 09/12/2020 22:32 GMT: Major US lawsuits seek break up of Facebook

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