EU investigates Apple, Meta and Alphabet under landmark new law

  • 📰 IrishTimesBiz
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 77%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Big Tech groups are the first to face full investigations under bloc’s new Digital Markets Act

The EU’s executive vice-president in charge of digital policy and commissioner for competition Margrethe Vestager gives a press conference on EU probes into Apple, Google at the EU headquarters in Brussels, on Monday, March 25th. , 2024. Photograph: Kenzo Tribouillard/GettyThe European Union has launched probes into Apple, Alphabet and Meta in the first use of a landmark new law designed to rein in Big Tech’s market power.

If found guilty of non-compliance, companies face hefty fines that could amount to up to 10 per cent of their global turnover.It is in a company’s interest to publish its tax strategy The commission said it was concerned that Apple and Alphabet had imposed “restrictions and limitations” that constrained developers’ ability to promote other services.

It also opened proceedings against Meta over whether the group’s new “pay or consent” subscription model complied with the DMA requirement for gatekeepers to obtain user agreement to “combine or cross-use their personal data” — such as for advertising purposes. The moves come a month after the EU announced a €1.8 billion fine for preventing music streaming apps such as Spotify from informing users about cheaper deals. The US Department of Justice last week announced it was suing Apple for allegedly using its power in the smartphone sector to squash competition.

Tech companies pushed back on Monday against suggestions of wrongdoing. Apple said it was “confident” it was complying with the DMA, adding: “We’ll continue to constructively engage with the European Commission as they conduct their investigations.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines