financetom
Business
financetom
/
Business
/
EU reassesses tech probes into Apple, Google and Meta, FT reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU reassesses tech probes into Apple, Google and Meta, FT reports
Jan 13, 2025 9:48 PM

(Reuters) - The European Commission is reassessing its probes into tech giants including Apple ( AAPL ), Meta and Alphabet's Google, as the companies urge incoming U.S. President Donald Trump to intervene against what they characterize as overzealous European Union enforcement, the Financial Times reported on Tuesday.

The review could lead to Brussels reducing or changing the range of the probes, and will cover all cases launched since March 2024 under the European Union's landmark Digital Markets Act (DMA), the reported said, citing sources.

The DMA is one of the most stringent regulations targeting tech giants' market dominance, imposing tougher obligations to moderate content, allow fair competition and make it easier for consumers to switch between services.

All decisions and potential fines will be paused while the review is completed, but technical work on the cases will continue, the newspaper said.

European regulators are now waiting for political direction to take final decisions on the Google, Apple ( AAPL ) and Meta cases, the it added.

Apple ( AAPL ), Meta, Google and the European Commission did not immediately respond to requests for comment.

The DMA took effect in 2022 with the aim of curbing the power of Big Tech and ensuring a level playing field for smaller rivals.

(Reporting by Gursimran Kaur in Bengaluru; Editing by Sonia Cheema and Mrigank Dhaniwala)

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 >
Top Premarket Gainers
Top Premarket Gainers
Jun 20, 2024
07:53 AM EDT, 06/20/2024 (MT Newswires) -- Tempest Therapeutics ( TPST ) shares surged more than 45% Thursday premarket after the company said Wednesday it will report fresh data from a phase 1b/2 trial of a combination treatment candidate for hepatocellular carcinoma. Molecular Partners ( MOLN ) shares rose 22%, adding to Tuesday's rise. Denali Capital Acquisition ( DECA )...
AECOM Selected as Lead Designer for SR 520 Project
AECOM Selected as Lead Designer for SR 520 Project
Jun 20, 2024
07:55 AM EDT, 06/20/2024 (MT Newswires) -- AECOM ( ACM ) said Thursday that the Washington State Department of Transportation has selected the company as the lead designer for the SR 520 Portage Bay Bridge and Roanoke Lid Project. AECOM ( ACM ) said that, as part of the design-build team led by Skanska, it will design two new seismically...
Top Premarket Decliners
Top Premarket Decliners
Jun 20, 2024
07:54 AM EDT, 06/20/2024 (MT Newswires) -- 908 Devices ( MASS ) shares slumped 18% Thursday premarket following a 3.5% drop in the previous session. Actelis Networks ( ASNS ) shares fell 17%, paring Tuesday's rally. La Rosa Holdings ( LRHC ) shares were down 16%, shaving gains from the previous session. Kaival Brands Innovation (KAVL) shares dropped 15%, reversing...
Sagicor Financial Renews Normal Course Issuer Bid
Sagicor Financial Renews Normal Course Issuer Bid
Jun 20, 2024
07:56 AM EDT, 06/20/2024 (MT Newswires) -- Sagicor Financial ( SGCFF ) said on Thursday that it has received approval from the Toronto Stock Exchange to renew its normal course issuer bid. The bid allows Sagicor to buy up to 9 million of its common shares, 10% of the public float, during the 12 months starting June 24 and ending...
Copyright 2023-2026 - www.financetom.com All Rights Reserved