financetom
Business
financetom
/
Business
/
EU to target Apple, Google, Meta in Digital Markets Act probes
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU to target Apple, Google, Meta in Digital Markets Act probes
Mar 25, 2024 3:59 AM

BRUSSELS, March 25 (Reuters) - Apple ( AAPL ),

Alphabet's Google and Meta Platforms ( META ) will be

investigated for potential breaches of the Digital Markets Act,

EU antitrust regulators said on Monday, a move that could lead

to hefty fines for the companies.

The law, effective from March 7, requires six gatekeepers -

which provide services like search engines, social networks and

chat apps used by other businesses - to comply with guidance to

ensure a level playing field for their rivals and to give users

more choices.

"The (European) Commission suspects that the measures put in

place by these gatekeepers fall short of effective compliance of

their obligations under the DMA," the EU executive said in a

statement.

The EU competition enforcer will investigate Alphabet's

rules on steering in Google Play and self-preferencing on Google

Search, Apple's ( AAPL ) rules on steering in the App Store and the

choice screen for Safari and Meta's 'pay or consent model'.

The Commission is also taking steps to investigate Apple's ( AAPL )

new fee structure for alternative app stores and Amazon's ( AMZN )

ranking practices on its marketplace.

The EU executive aims to wrap up the investigations within a

year, the timeframe set out under the DMA.

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 >
Blackline Safety Inks $1.6 Million Deal With Industrial Safety Services Company for EXO 8 Monitors
Blackline Safety Inks $1.6 Million Deal With Industrial Safety Services Company for EXO 8 Monitors
Jan 9, 2025
08:54 AM EST, 01/09/2025 (MT Newswires) -- Blackline Safety ( BLKLF ) on Thursday announced a $1.6 million deal with industrial safety services company Total Safety. Total Safety, which is purchasing over 100 of Blackline's EXO 8 portable area monitors, will integrate them into its rental fleet which are contracted by energy companies for monitoring and maintenance activities. Portable area...
RBC Partners With Cohere to Develop AI Solutions for Financial Services
RBC Partners With Cohere to Develop AI Solutions for Financial Services
Jan 9, 2025
08:56 AM EST, 01/09/2025 (MT Newswires) -- Royal Bank of Canada ( RY ) on Thursday said it partnered with Cohere, a technology company focused on artificial intelligence for the enterprise, to co-develop and securely deploy an enterprise generative AI (genAI) solution for financial services called North for Banking. The company said North for Banking will integrate with RBC's and...
UBS nears settlement over Credit Suisse tax evasion case, WSJ reports
UBS nears settlement over Credit Suisse tax evasion case, WSJ reports
Jan 9, 2025
Jan 9 (Reuters) - UBS is set to pay a minimum of hundreds of millions of dollars to settle Credit Suisse's violations of an earlier agreement with the U.S. Department of Justice over customers in the U.S. who evaded tax, the Wall Street Journal reported on Thursday. A settlement could come as soon as this week, WSJ reported, citing people...
Update: Market Chatter: Microsoft Plans Layoffs
Update: Market Chatter: Microsoft Plans Layoffs
Jan 9, 2025
08:56 AM EST, 01/09/2025 (MT Newswires) -- (Updates with response from Microsoft ( MSFT ) in the third and fourth paragraphs.) Microsoft ( MSFT ) plans to reduce less than 1% of its 228,000 employees in the next few months, The Information reported Wednesday, citing sources familiar with the matter. The layoffs will reportedly be based on employee performance and...
Copyright 2023-2026 - www.financetom.com All Rights Reserved