Microsoft Corp. and Apple Inc. face fresh investigations from European Union regulators as part of the bloc’s landmark digital markets clampdown, which could end up forcing significant changes in how the firms do business in the region.
The likes of Alphabet Inc.’s Google Search, Apple’s App Store and Amazon.com Inc.’s marketplace are among a list of 22 services that fall under the EU’s Digital Markets Act, revealed on Wednesday. Now companies including Bytedance Ltd.’s TikTok and Meta Platforms Inc.’s Facebook have six months to fall in line with the new rules or challenge them in the EU court.
The commission has also opened a probe to examine whether Apple’s iPad operating system should be included in the regulation. “We are finally reining in the economic power of six gatekeepers, giving more choice to consumers and creating new opportunities for smaller innovative tech companies,” said Thierry Breton, the EU’s internal market commissioner.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EU targets Apple, Amazon, Alphabet, ByteDance, Meta, Microsoft in next phase of digital crackdownLONDON (AP) — The European Union on Wednesday targeted Apple, Amazon, Microsoft, Google parent Alphabet, Facebook owner Meta and TikTok parent ByteDance under new digital rules aimed at reining in the market power of online companies. The six companies were classed as online 'gatekeepers' that must face the highest level of scrutiny under the 27-nation bloc's Digital Markets Act. The act amounts to a list of do's and don'ts that seeks to prevent tech giants from cornering new digital markets, wi
Read more »
Apple inks new long-term deal with Arm for chip technologyBy Stephen Nellis (Reuters) - Apple has signed a new deal with Arm for chip technology that
Read more »
Apple inks new long-term deal with Arm for chip technologyApple has signed a new deal with Arm for chip technology that 'extends beyond 2040,' according to Arm's initial public offering documents filed on Tuesday. Arm unveiled pricing on Tuesday for what it hopes will be a $52 billion initial public offering, which would be the largest such deal in the U.S. this year. Arm owner SoftBank Group plans to offer 95.5 million American depository shares of the United Kingdom-based company for $47 to $51 apiece, Arm said in a filing.
Read more »
Biden to focus on World Bank reform, new funding at G20 in New DelhiWASHINGTON (Reuters) - U.S. President Joe Biden will focus on reforming the World Bank and urging other multilateral development banks to boost lending ...
Read more »
Foxconn's August sales drop 8% y/y, Q3 outlook betterTaiwan's Foxconn, the world's largest contract electronics maker and a major supplier for Apple, said on Tuesday revenue in August fell 8% year-on-year but forecast a better business outlook ahead of new product releases by major customer Apple. Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T$412.83 billion ($12.93 billion), down 12% from July. Summer is traditionally a busy time for Foxconn as major vendors such as Apple gear up for new product launches ahead of the end-of-year holiday shopping season.
Read more »