08:43 AM EDT, 10/08/2025 (MT Newswires) -- Apple ( AAPL ) and Meta Platforms ( META ) are nearing settlements with the European Commission to resolve antitrust cases and avoid escalating fines under the European Union's Digital Markets Act, the Financial Times reported Wednesday, citing officials briefed on the discussions.

The companies are finalizing agreements with European regulators after being fined a combined 700 million euros ($813.9 million) in April for breaching the act, the report said.

No final decisions have been made, but officials expect an agreement could spare both companies from escalating daily fines of up to 5% of their average daily worldwide revenue, the report said.

Apple ( AAPL ), Meta Platforms ( META ) and the European Commission did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)