Benzinga | Oct 14, 2021 02:36PM EDT

US Senate's Latest Antitrust Bill Targets Amazon, Apple, Google: CNBC

* Sen. Amy Klobuchar, D-Minn., the Senate Judiciary subcommittee Chair on antitrust, will soon introduce a major antitrust bill aimed at Big Tech offering more choice to the consumers, CNBC reports.

* Judiciary Committee Ranking Member Chuck Grassley, R-Iowa, will also back the bill launch.

* "Our bill will help create a more even playing field and ensure that small businesses are able to compete with these platforms," Grassley said.

* House Judiciary subcommittee on antitrust Chairman David Cicilline, D-R.I. will introduce a bill similar to the American Innovation and Choice Online Act prohibiting dominant online platforms from discriminatory behavior.

* The bill would have profound implications for companies like Amazon.com Inc (NASDAQ:AMZN), Apple Inc (NASDAQ:AAPL), and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, who allegedly ranked their products higher than rivals' in their marketplaces to generate more profits for themselves.

* Travel or local search sites like Yelp Inc (NYSE:YELP) and TripAdvisor Inc (NASDAQ:TRIP) accused of Google unfairly lowering their links in search results in favor of prime placement of its Google Maps tool. The tech majors have denied the allegations.

* Price Action: YELP shares traded higher by 4.07% at $39.64 on the last check Thursday.