According toa reportfromBloomberg, the EU may be gearing up to fine Apple for failure to comply with the DMA, though details are still unknown. The fine could be levied before Margrethe Vestagerleaves officein November, or it could be pushed to a later date in 2024. The anonymous sources s...
Margrethe Vestager, the Commissioner in charge of competition policy, stated, “For a decade, Apple abused its dominant position in the market for the distribution of music-streaming apps through the App Store.” In res...
The $1.95 billion fine onMarch 4, 2024, was specifically regarding this anti-steering issue. Apple at the time objected, saying that the EU had failed "to uncover any credible evidence of consumer harm." According toBloomberg, Apple hassubsequently acceptedthe EU's decision. In a ...
The Financial Times (FT) reported on Friday. The DMA allows for fines up to 10% of a company’s global annual revenue, but the EU was reported to intend to impose fine much lower than
Apple is contesting a substantial €1.8 billion ($1.9 billion) fine imposed by the European Union (EU) for allegedly stifling competition from music streaming services such as Spotify Technology SA, according to Bloomberg reports. ...
Apple shares were marked 1.9% lower in early Monday trading to change hands at $176.40 each, a move would extend the stock's six-month decline to around 67%. Veteran fund manager picks favorite stocks for 2024 Read More By Martin Baccard...
So in both cases Apple was not making a dime from them for commission. That strategy was Spotify's choice right from the beginning. And yet the EU is trying to fine Apple $1.8 billion for supposed abuse of the music streaming market. Reactions: StyxMaker, SnowCrocodile, DefNotAnL...
In justifying the move, the Commission emphasized the need for deterrence, stating that "such lump sum fine was necessary ... to deter Apple from repeating the present or a similar infringement, and to deter other companies of a similar size and with similar resources from committing the same...
000 employees. If they gave all off them a $5 per hour raise, then at 40 hours a week and 48 weeks a year, that’s around 1.5 billion dollars. That sounds like a lot of money, but that’s only 1.6% of their net profit, so Apple definitely has the money to pay their employees...
Apple is challenging a 1.8 billion-euro ($1.9-billion) fine by the European Union for thwarting access to information about cheaper music streaming services, an EU court said Tuesday.