financetom
Business
financetom
/
Business
/
Apple, Meta, Google to face EU Digital Markets Act probes, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Apple, Meta, Google to face EU Digital Markets Act probes, sources say
Mar 21, 2024 11:24 AM

BRUSSELS, March 21 (Reuters) - Apple ( AAPL ), Meta

Platforms ( META ) and Alphabet's Google are set to be

investigated for potential violations of the European Union's

Digital Markets Act (DMA) that could lead to hefty fines by the

end of the year, according to people with direct knowledge of

the matter.

The European Commission will likely announce the

investigations, either at the same time or one after the other

rapidly, in the coming days and issue decisions before EU

antitrust chief Margrethe Vestager's term ends in November, they

said.

DMA breaches could cost the companies as much as 10% of

their global annual turnover. The landmark EU tech rule requires

companies to give users and rivals more choices to ensure a

level playing field.

The Commission declined to comment. Apple ( AAPL ), Meta and Google

did not immediately respond to requests for comment.

Earlier this week, Vestager in an interview told Reuters

Apple and Meta's new fees for their services may hinder users

from enjoying the benefits of the DMA, and that this was going

to be part of any investigation.

She also singled out tactics used by some companies to

disparage rival products or services to discourage users

switching to them, saying it was unwise for companies to do so.

Vestager also said she wanted to speed up any DMA

investigations, aiming to get decisions out preferably in six

months so that users and apps developers can see the fruits of

the new rules soon. Traditional EU antitrust probes in contrast

take years.

Rivals of the three companies have shared frustrations with

the EU competition enforcer, saying measures announced by the

companies to re-wire their core platform services are

inadequate.

The DMA requires the three companies, as well as Microsoft ( MSFT )

, Amazon.com ( AMZN ) and TikTok owner ByteDance to

allow users to remove any pre-installed software or app if they

want, and to get users' consent to use their data across their

various services or for personalised ads.

The companies are not allowed to favour their services or

products over rivals on their platforms.

Bloomberg was the first to report the imminent DMA

investigations into Apple ( AAPL ), Meta and Google.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Looking At Robinhood Markets's Recent Unusual Options Activity
Looking At Robinhood Markets's Recent Unusual Options Activity
May 25, 2025
Whales with a lot of money to spend have taken a noticeably bearish stance on Robinhood Markets ( HOOD ). Looking at options history for Robinhood Markets ( HOOD ) we detected 47 trades. If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 51% with...
D-Wave Quantum Shares Drop After Short Seller Says Stock Price 'Divorced From Fundamentals'
D-Wave Quantum Shares Drop After Short Seller Says Stock Price 'Divorced From Fundamentals'
May 25, 2025
12:01 PM EDT, 04/29/2025 (MT Newswires) -- D-Wave Quantum ( QBTS ) shares were down more than 3% in recent trading Tuesday after short seller Kerrisdale Capital said that the company's stock price was divorced from fundamentals. Kerrisdale said that D-Wave's focus on quantum annealing, a specialized approach to quantum computing, is a commercial dead end, having failed to demonstrate...
Intel attracts interest for test chips using new manufacturing process
Intel attracts interest for test chips using new manufacturing process
May 25, 2025
SAN JOSE, April 29 (Reuters) - Intel ( INTC ) said on Tuesday several of its contract manufacturing customers planned to build test chips for the company's forthcoming advanced manufacturing process that is currently still in development. The embattled chipmaker indicated it had received interest from customers at the company's Direct Connect conference for its contract chip business, or foundry....
Copyright 2023-2026 - www.financetom.com All Rights Reserved