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Apple, Meta Platforms and Alphabet's Google are set to be investigated for potential violations of the European Union's Digital Markets Act (DMA) that could lead to hefty fines by the end of the year, according to people with direct knowledge of the matter. The European Commission will likely announce the investigations, either at the same time or one after the other rapidly, in the coming days and issue decisions before EU antitrust chief Margrethe Vestager's term ends in November, they said...
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Apple said in a statement that the lawsuit “threatens who we are and the principles that set Apple products apart in fiercely competitive markets.”...
Continue ReadingThe US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market...
Continue ReadingThe Justice Department says iPhone maker leveraged its dominance to block software and limit functionality of competing devices...
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Wall Street's main stock indexes touched record highs on Thursday as chip stocks rallied following Micron Technology's upbeat forecast, while investors took comfort in the Federal Reserve sticking to its three-rate-cut view for this year. Chipmaker Micron Technology jumped 14.9%, briefly hitting an all-time high, after posting a surprise quarterly profit and forecasting third-quarter revenue above estimates...
Continue ReadingThe U.S. government's antitrust suit against Apple is yet another big headache for its CEO...
Continue Reading(Bloomberg) -- The US Justice Department and 16 attorneys general sued Apple Inc., accusing the iPhone maker of violating antitrust laws by blocking rivals from accessing hardware and software features on its popular devices.Most Read from BloombergNY Gears Up to Seize Trump Westchester Assets If Fraud Fine Is UnpaidBaltimore Wants to Sell Hundreds of Vacant Homes for $1 EachJustice Department to Sue Apple for Antitrust Violations as Soon as ThursdayWhat Happens If Trump Can’t Post His $454 Mill...
Continue ReadingApple, Meta Platforms and Alphabet's Google are set to be investigated for potential violations of the European Union's Digital Markets Act (DMA) that could lead to hefty fines by the end of the year, according to people with direct knowledge of the matter. The European Commission will likely announce the investigations, either at the same time or one after the other rapidly, in the coming days and issue decisions before EU antitrust chief Margrethe Vestager's term ends in November, they said...
Continue ReadingApple Inc. shares are down 4% after being sued by the Department of Justice in a major antitrust case. Explore more details here...
Continue ReadingDOJ set to sue Apple for antitrust violations related to iPhone. Reddit to debut after pricing IPO at top of range. Apollo offers $11 billion for Paramount's film and TV business...
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