EU Opens Non-compliance Probe Against Alphabet, Apple And Meta Under Digital Markets Act

RTTNews | 900 days ago

(RTTNews) - The European Commission said Monday it has opened non-compliance investigations against Google parent Alphabet, Inc. (GOOG), Apple Corp. (AAPL) and Facebook parent Meta Platforms, Inc. (META) under the Digital Markets Act. The Commission intends to conclude the proceedings opened today within 12 months.

The investigations involve Alphabet's rules on steering in Google Play and self-preferencing on Google Search, Apple's rules on steering in the App Store and the choice screen for Safari and Meta's "pay or consent model".

In case of an infringement, the Commission can impose fines up to 10% of the company's total worldwide turnover. Such fines can go up to 20% in case of repeated infringement.

The Commission suspects that the measures put in place by these gatekeepers fall short of effective compliance of their obligations under the DMA.

The Commission has also launched investigatory steps relating to Apple's new fee structure for alternative app stores and Amazon's ranking practices on its marketplace

Finally, the Commission has ordered gatekeepers to retain certain documents to monitor the effective implementation and compliance with their obligations.

Further, the Commission has granted Meta an extension of 6 months to comply with the interoperability obligation (Article 7 DMA) for Facebook Messenger. This follows a reasoned request submitted by Meta.

Apple Signs Over $30 Bln Worth Chip Deal With Broadcom To Boost U.S. Manufacturing

Tech major Apple Inc. announced a new multi-year, over $30 billion worth deal with chipmaker Broadcom Inc. to produce more than 15 billion U.S.-made chips, aiming to accelerate manufacturing in the U.S. In the pre-market hours on the Nasdaq, Apple is trading 0.15 percent lower at $310.20, while Broadcom is gaining 0.29 percent, trading at $371.84.

RTTNews | 64 days ago

Apple @ 50: Five Decades Of Reinvention

April 1 marks 50 years of Apple Inc., the tech major whose inventions and innovations in the world of technology have brought a radical change in the lives of people over these years. Apple, which was founded on April 1, 1976 in a small garage by visionary Steve Jobs and others, has now become a tech titan offering consumer electronics, software and online services.

RTTNews | 162 days ago

Apple Adds New Partners, To Invest $400 Mln To Expand US Manufacturing

Apple Inc. announced the addition of new partners to its American Manufacturing Program or AMP, aiming to expand advanced manufacturing and critical component production in America and strengthen the tech major's domestic supply chain. Bosch, Cirrus Logic, TDK, and Qnity Electronics will join AMP, a key part of Apple's $600 billion, four-year commitment to U.S. manufacturing and innovation.

RTTNews | 168 days ago

Google, Warby Parker To Launch First Lightweight AI Glasses In 2026

Tech major Google, owned by Alphabet Inc., and its partner Warby Parker Inc. announced that they expect to launch the first lightweight AI glasses in 2026. In a filing with the U.S. Securities And Exchange Commission, Warby Parker confirmed the expected launch of the first lightweight, AI glasses developed through its partnership with Google next year.

RTTNews | 276 days ago

EU Launches Formal Antitrust Probe Against Meta

The European Commission has launched a formal antitrust probe against Meta Platforms to assess whether its new policy on artificial intelligence providers' access to WhatsApp may breach EU competition rules. The Commission is concerned that such new policy may prevent third party AI providers from offering their services through WhatsApp in the European Economic Area.

RTTNews | 281 days ago

Nvidia Shares Hit After Reports Of Meta In Talks To Buy Google AI Chips

AI chip major Nvidia Corp.'s shares were losing around 3.4% in pre-market activity on the Nasdaq following a report that Meta Platforms Inc., which mainly uses Nvidia graphic processing units or GPUs for its AI needs, is in talks with Google for using its custom AI chips for data centers. On the other hand, shares of Google's owner Alphabet Inc. were gaining around 2.7 percent.

RTTNews | 290 days ago

Apple To Expand Renewable Energy Projects Across Europe

Tech major Apple Inc. has unveiled a significant expansion of its renewable energy projects across Europe to boost energy capacity to match the electricity customers use to power its products. The new solar and wind projects, all enabled by Apple, will add 650 megawatts or MW of renewable energy capacity in various European countries, including Greece, Italy, Latvia, Poland, and Romania.

RTTNews | 332 days ago

Apple Shares Down On $900 Mln Tariff Hit, Despite Strong Q2, Dividend Growth, $100 Bln Buyback

Shares of apple inc. were down around 4 percent in the after-hours trading on Thursday after the tech major said it sees $900 million hit from tariffs in the third quarter, as it shifts U.S. iPhone supply to India from China. This was despite reporting higher profit in its second quarter, above market estimates, with strong growth in revenues. The company also announced higher dividend...

RTTNews | 497 days ago

EURUSD	1.16008	GBPUSD	1.35173
USDJPY	153.489	USDCAD	1.38664