Connect with us

Hi, what are you looking for?

Fibonacci Tech News

Apple to be fined over $500 million under EU antitrust law

Image: The Verge

Apple will reportedly have to pay around €500 million (about $539 million USD) in the EU for stifling competition against Apple Music on the iPhone. Financial Times reported this morning that the fine comes after regulators in Brussels, Belgium investigated a Spotify complaint that Apple prevented apps from telling users about cheaper alternatives to Apple’s music service.

The issue comes down to Apple’s efforts to keep apps and users corraled inside its App Store payments system. Spotify complained in 2019 that Apple’s policies muted competition against Apple Music, kicking off an EU investigation the next year. The EU whittled its objections down to oppose Apple’s refusal to let developers even link out to their own subscription…

Continue reading…

You May Also Like

Fibonacci Stock News

In the previous technical note, it was categorically mentioned that while the markets may attempt to inch higher, they may not form anything beyond...

Fibonacci Investing News

Chris Edwards Many American cities need more low‐​income housing, but governments reduce supply and raise construction costs with regulations, taxes, and bureaucracy. The Wall...

Fibonacci Tech News

Illustration by Alex Castro / The Verge The question of who gets to regulate crypto has some answers, as a judge has ruled the...

Fibonacci Tech News

Image: Brazil Climate Summit At the moment I arrived at the Brazil Climate Summit event, it felt like home to me. As I opened...