• bitcoinBitcoin(BTC)$77,592.001.70%
  • ethereumEthereum(ETH)$2,484.942.06%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$752.824.05%
  • rippleXRP(XRP)$1.322.14%
  • usd-coinUSDC(USDC)$1.000.00%
  • solanaSolana(SOL)$105.666.27%
  • tronTRON(TRX)$0.3358170.12%
  • zcashZcash(ZEC)$1,499.1311.24%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.03-0.16%
  • HyperliquidHyperliquid(HYPE)$87.6710.99%
  • dogecoinDogecoin(DOGE)$0.0842984.37%
  • moneroMonero(XMR)$529.416.48%
  • USDSUSDS(USDS)$1.000.05%
  • whitebitWhiteBIT Coin(WBT)$79.941.97%
  • RainRain(RAIN)$0.012796-0.61%
  • chainlinkChainlink(LINK)$11.805.97%
  • leo-tokenLEO Token(LEO)$8.91-0.36%
  • cardanoCardano(ADA)$0.2134338.66%
  • stellarStellar(XLM)$0.1870292.76%
  • uniswapUniswap(UNI)$8.5027.23%
  • bitcoin-cashBitcoin Cash(BCH)$247.0311.80%
  • Ethena USDeEthena USDe(USDE)$1.000.00%
  • daiDai(DAI)$1.000.00%
  • nearNEAR Protocol(NEAR)$3.4829.98%
  • USD1USD1(USD1)$1.000.02%
  • CantonCanton(CC)$0.1084159.94%
  • litecoinLitecoin(LTC)$54.885.58%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.363.64%
  • avalanche-2Avalanche(AVAX)$7.895.06%
  • hedera-hashgraphHedera(HBAR)$0.0761463.43%
  • Global DollarGlobal Dollar(USDG)$1.000.00%
  • suiSui(SUI)$0.788.07%
  • shiba-inuShiba Inu(SHIB)$0.0000056.48%
  • MemeCoreMemeCore(M)$1.2814.36%
  • crypto-com-chainCronos(CRO)$0.0584500.23%
  • paypal-usdPayPal USD(PYUSD)$1.000.03%
  • tether-goldTether Gold(XAUT)$4,385.461.87%
  • BittensorBittensor(TAO)$240.837.27%
  • Circle USYCCircle USYC(USYC)$1.140.01%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • okbOKB(OKB)$114.162.34%
  • Ripple USDRipple USD(RLUSD)$1.000.02%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.14-0.05%
  • aaveAave(AAVE)$134.5910.42%
  • AsterAster(ASTER)$0.753.10%
  • Pump.funPump.fun(PUMP)$0.00428310.18%
  • mantleMantle(MNT)$0.584.80%
  • polkadotPolkadot(DOT)$1.1312.15%
  • pax-goldPAX Gold(PAXG)$4,384.701.81%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

Apple to face EU charges for stifling competition with App Store policy: report

June 14, 2024
in Business
Reading Time: 6 mins read
A A
Apple to face EU charges for stifling competition with App Store policy: report
ShareShareShareShareShare

Apple is reportedly set to face charges in the European Union for alleged anticompetitive behavior in its App Store — in what would mark the first time EU officials have gone after a Big Tech giant for violating a sweeping digital law.

The European Commission, the EU’s antitrust watchdog, has found that Apple is not in compliance with the Digital Markets Act, which took effect in March and is aimed at tech titans designated as the internet’s “gatekeepers,” the Financial Times reported, citing sources familiar with the matter.

YOU MAY ALSO LIKE

Starbucks resolves Florida DEI lawsuit with blockbuster companywide agreement

Canoodling Central Park lawyer out at Wachtell law firm following embarrassing scandal

Specifically, Apple violated the DMA’s provisions by charging app developers a fee in order to “steer” customers to make purchases outside the App Store — where the company takes a sizable cut of every sale. Critics have argued Apple’s fees are excessive and stifle competition.


Apple is reportedly not in compliance with a key EU digital law. REUTERS

A formal announcement of EU charges against Apple could be made within weeks, the report said.

The sources said the European Commission’s findings are preliminary and that Apple could still avoid charges by altering its business practices to comply with the DMA.

The Post reached out to the European Commission for comment on the report.

Apple did not immediately return a request for comment.

The company’s shares sank more than 1% in afternoon trading Friday.

The iPhone maker could face fines of up to 5% of its average daily worldwide turnover — a little more than $1 billion per day — for violations of the law, according to the FT.

The European Commission first announced in March that it was investigating Apple, as well as Google, Meta and Amazon, for potential violations of the Digital Markets Act.

At the time, EU officials said their probe was examining whether Apple’s new compliance plan for the DMA, including its practice of charging app developers a so-called “core technology fee” for access to the App Store, was “defeating the purpose” of the law.


Apple
Apple and other tech firms are facing a major antitrust crackdown. REUTERS

Officials are still weighing whether to pursue charges against other firms, the report said.

EU charges would mark yet another regulatory headache for Apple.

In a separate action in March, European Union regulators hit Apple with a whopping $2 billion antitrust fine for “abusing a dominant position” in music streaming through its App Store practices.

Apple is challenging the penalty.

In the US, the Justice Department recently hit the company with a landmark antitrust suit alleging that it has engaged in anticompetitive behavior to ensure the dominance of its iPhone in the smartphone market.

Credit: Source link

ShareTweetSendSharePin

Related Posts

Starbucks resolves Florida DEI lawsuit with blockbuster companywide agreement
Business

Starbucks resolves Florida DEI lawsuit with blockbuster companywide agreement

September 17, 2026
Canoodling Central Park lawyer out at Wachtell law firm following embarrassing scandal
Business

Canoodling Central Park lawyer out at Wachtell law firm following embarrassing scandal

September 17, 2026
Recall of soups and dips with tainted jalapeños gets highest risk level
Business

Recall of soups and dips with tainted jalapeños gets highest risk level

September 17, 2026
California AG Rob Bonta talks tough on Paramount, but says he’s ‘open’ to settlement talks if they’re ‘sincere’
Business

California AG Rob Bonta talks tough on Paramount, but says he’s ‘open’ to settlement talks if they’re ‘sincere’

September 17, 2026
Next Post
Supreme Court strikes down Trump-era ban on gun bump stocks

Supreme Court strikes down Trump-era ban on gun bump stocks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
Watch President Trump’s full remarks at Pentagon’s 9/11 ceremony on 25th anniversary

Watch President Trump’s full remarks at Pentagon’s 9/11 ceremony on 25th anniversary

September 13, 2026
Smithsonian Secretary Lonnie Bunch to retire amid clashes with Trump administration

Smithsonian Secretary Lonnie Bunch to retire amid clashes with Trump administration

September 15, 2026
Meta Introduces ZGateway: A Stateless Proxy Tier That Unifies ZippyDB Traffic and Handles Over 1 Billion Operations Per Second

Meta Introduces ZGateway: A Stateless Proxy Tier That Unifies ZippyDB Traffic and Handles Over 1 Billion Operations Per Second

September 15, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!