Google has designated UK Tech Gatekeeper under new competition law

The UK Competition Authority rated alphabet Google -2.05%decreases; Red triangle pointing down Google as a company needs to be watched closely due to its ubiquitous search engine and lucrative search advertising business.

This is the first time the Competition and Markets Authority has completed an investigation into whether a technology giant would be classified as a company with so-called strategic market status under the new Digital Markets, Competition and Consumer Act. The legislation aims to limit the dominance of big technology companies in the market, and benefit companies that rely on search engines and their app stores to make money.