|3 THINGS THAT WILL CHANGE THE WORLD TODAY|
Good morning, here’s your Tuesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
US antitrust subcommittee begins tech industry probe
The United States’ House Judiciary Committee will hold its first hearing today as part of a probe into possible antitrust breaches in the technology industry.
Organised by the Subcommittee on Antitrust, Commercial, and Administrative Law, the hearing, titled “Online Platforms and Market Power, Part 1: The Free and Diverse Press”, will look at how dominant internet platforms like Google and Facebook have damaged local news organisations. The committee believes that the control of these platforms has directly contributed to a decline in local journalism.
With the industry shifting from print to online, it is estimated that 85% of all digital ad spend in 2018 went to either Facebook or Google.
The hearing is taking place at the Rayburn House Office Building in Washington DC, United States, starting at 2pm local time (7pm London time).
Tesla holds annual shareholder meeting
Tesla will hold its annual shareholder meeting today following a difficult year which has seen the electric car manufacturer’s stock price fall by 40%.
Having seen its shares drop below $180 last week, its lowest price since 2016, Tesla CEO Elon Musk will face some difficult questions from shareholders today. Analysts have described it as a “fork in the road” for the company, with demand for its Model 3 vehicle falling and its sustainability under question.
Shareholder advisory firm ISS has also called on Tesla shareholders to revolt today over director salaries, which it believes shows “significant outliers” compared to similar companies.
The Tesla shareholder meeting is taking place at the Computer History Museum in Mountain View, California, starting at 2:30pm local time (10:30pm London time).
E3 gets underway
Video game fans have already been treated to Project Scarlett, the successor to Microsoft’s Xbox One console, but there is still plenty to come from the industry’s largest expo.
Hundreds of the industry’s leading developers and publishers will be present in Los Angeles, including Activision, Electronic Arts, Epic Games, Microsoft, Nintendo, Oculus, and Tencent, to show off their latest hardware and titles.
Streaming services will take centre stage, with Google set to show off its upcoming Stadia game streaming platform. Microsoft has also taken the opportunity to reveal more about its rival xCloud platform, while Amazon – which is currently working on its own game streaming service – will also be attending E3 this year.
E3 is taking place at the Los Angeles Convention Center in California, over the next four days.