The EU’s rules say developers using the App Store and similar marketplaces must inform their customers of less expensive payment options, and enable steering to those options free of charge. The EU accuses Apple of violating these rules by not allowing developers to provide pricing information, among other alleged violations.
Apple was given until March 25, 2025 — which is one year after the original investigation was announced — to respond to the EU’s most recent assessment, which was issued June 24. If the EU finds Apple is in violation of Europe’s Digital Markets Act, it could be fined 10% of its global revenue for 2023, which would be more than $38 billion. The commission this week also opened a new compliance investigation into Apple’s updated contract terms, contending Apple has retained older terms that do not allow alternative payment channels.
Apple said this week that it would not provide some of its new artificial intelligence-powered products in the EU due to the tougher regulations. Apple did not provide comment to American Banker by deadline. It told
The EU has been investigating Apple for potential anti-competition rules violations for at least four years. In 2022, the Commission accused Apple of
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These analysts also caution that Apple and Google’s security products and user experience will continue to provide an advantage for the large technology firms. — John Adams
(Bloomberg) -- European stocks sank Friday, wrapping up their worst week in 18 months, as a highly anticipated US job report showed a mixed outlook for economic
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additio
The Japanese yen strengthened against other major currencies in the European session on Friday, as European stock markets traded lower amid growth worries pers
What’s going on here?Central European currencies held firm as investors eagerly awaited US non-farm payroll data, which is expected to show 160,000 jobs added