Connect with us

Hi, what are you looking for?

Tech News

Apple reportedly facing first-ever EU fine over App Store rules

Vector illustration of the Apple logo.
Image: Cath Virginia / The Verge

Apple will soon become the first company to incur a fine for violating the European Union’s Digital Markets Act (DMA), reports Bloomberg. Sources tell the outlet that the Commission is getting ready to levy the penalty after it found that Apple’s “anti-steering” practices harmed competition on the App Store.

This follows the EU’s €1.84 billion (around $2 billion) fine imposed on Apple in March. After investigating a complaint from Spotify, the EU Commission ruled that Apple restricted developers’ ability to point users to cheaper purchases outside the App Store in March — a practice that’s illegal under the DMA.

We still don’t know how much the EU will fine Apple, but the DMA rules say companies can be charged up to 10 percent of annual…

Continue reading…

You May Also Like

Editor's Pick

Clark Packard During a recent stop in Pennsylvania, US Trade Representative Katherine Tai was asked by Eric Martin of Bloomberg about the Biden administration’s...

Tech News

Image: Apple Apple has released the first trailer for the second season of Silo, and it looks like the season will tell us what...

Editor's Pick

Alex Nowrasteh Steven Malanga, a senior fellow at the Manhattan Institute and a senior editor of City Journal, argues that there is a crime...

Editor's Pick

In this video, Dave digs into five market breadth indicators every investor should track as we navigate a volatile period including Q3 earnings, the...