Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Alphabet Inc.
  6. News
  7. Summary
    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Financial regulators urgently need to get a grip on 'Big Tech' -BIS

08/02/2021 | 01:28pm EDT

LONDON, Aug 2 (Reuters) - Central banks and financial regulators urgently need to get to grips with the growing influence of 'Big Tech', according to top officials from central bank umbrella group the Bank for International Settlements (BIS).

Global watchdogs are increasingly wary that the huge amounts of data controlled by groups such as Facebook, Google , Amazon and Alibaba could allow them to reshape finance so rapidly that it destabilises entire banking systems.

The BIS, in a paper led by its head Agustin Carstens, pointed to examples such as China where the two big tech payment firms Alipay and WeChat Pay now account for 94% of the mobile payments market.

China has already rattled its markets with a series of clampdowns https://www.reuters.com/world/china/no-gain-without-pain-why-chinas-reform-push-must-hurt-investors-2021-07-28 on top tech and e-commerce firms. Last November regulators torpedoed the public listing of Jack Ma's fintech Ant Group and in the nine months since other tech giants and, lately, tutoring firms, have all faced scrutiny.

In many other jurisdictions too, tech firms are rapidly establishing footprints, with some also lending to individuals and small businesses as well as offering insurance and wealth management services.

"The entry of big techs into financial services gives rise to new challenges surrounding the concentration of market power and data governance," the BIS paper https://www.bis.org/publ/bisbull45.pdf published on Monday said.

There was scope for "specific entity-based rules" notably in the European Union, China and the United States, it added.

"Any impact on the integrity of the monetary system arising from the emergence of dominant platforms ought to be a key concern for the central bank."

Stablecoins - cryptocurrencies pegged to existing currencies such as Facebook's Diem - and other Big Tech initiatives could be "a game changer" for the monetary system, the paper added, if the "network effects" of social media and e-commerce platforms turbo-charged their uptake.

It could lead to a fragmentation of existing payment infrastructures to the detriment of the public good. "Given the potential for rapid change, the absence of currently dominant platforms should not be a source of comfort for central banks," the paper said.

It said they should anticipate developments and formulate policy based on possible scenarios where Big Tech initiatives are already reshaping payments and other parts of financial systems.

"Central banks and financial regulators should invest with urgency in monitoring and understanding these developments" it added. "In this way, they can be prepared to act quickly when needed."

(Reporting by Marc Jones Editing by Mark Potter and Susan Fenton)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 2.43% 160.05 Delayed Quote.-31.23%
ALPHABET INC. -1.96% 2816 Delayed Quote.60.67%
AMAZON.COM, INC. -0.74% 3462.52 Delayed Quote.7.10%
FACEBOOK INC -2.24% 364.72 Delayed Quote.33.52%
All news about ALPHABET INC.
09/18ALPHABET : Navalny allies accuse YouTube, Telegram of censorship in Russian elec..
RE
09/18APPLE : Navalny allies accuse Telegram of censorship in Russian election
RE
09/18ALPHABET : India antitrust probe finds Google abused Android dominance, report s..
RE
09/18Google says it will work with india antitrust authority to show android has l..
RE
09/18Google practices led to unfair condition on device manufacturers in india – a..
RE
09/18India antitrust probe finds google abused dominant position of android operat..
RE
09/17US Stocks Drop as Large-Cap Techs Lose Luster; Consumer Sentiment Disappoints..
MT
09/17ALPHABET : Jefferies & Co Adjusts Alphabet PT to $3,325 From $3,150, Maintains B..
MT
09/17GLOBAL MARKETS LIVE : Ryanair, Ford, Apple, Alphabet, Gap...
09/17PRESS RELEASE : Israeli SleepX to be merged into AppYea Inc. (APYP)
DJ
More news
Analyst Recommendations on ALPHABET INC.
More recommendations
Financials (USD)
Sales 2021 250 B - -
Net income 2021 68 645 M - -
Net cash 2021 140 B - -
P/E ratio 2021 27,9x
Yield 2021 -
Capitalization 1 882 B 1 882 B -
EV / Sales 2021 6,95x
EV / Sales 2022 5,86x
Nbr of Employees 144 056
Free-Float 93,1%
Chart ALPHABET INC.
Duration : Period :
Alphabet Inc. Technical Analysis Chart | GOOGL | US02079K3059 | MarketScreener
Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 45
Last Close Price 2 816,00 $
Average target price 3 201,73 $
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
Louis John Doerr Independent Director
Ann Mather Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ALPHABET INC.60.67%1 881 830
BAIDU, INC.-24.99%56 459
Z HOLDINGS CORPORATION18.21%51 023
NAVER CORPORATION37.78%50 860
YANDEX N.V.15.52%28 719
SOGOU INC.7.24%3 390