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

RTTNews | 238 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.

Domino's, Pool Corp. Climb After Buffett's Berkshire Buys Stake

Shares of Domino's Pizza Inc. and swimming pool supplier Pool Corp. gained significantly in the extended trading in New York on Thursday after billionaire investor Warren Buffett's Berkshire Hathaway Inc. took stake in them. In the pre-market activity, Domino's shares were moving up 8 percent and Pool shares were up 7 percent.

RTTNews | 3 days ago

Google Names Nick Fox New Search Head, Prabhakar Raghavan Chief Technologist In AI Reshuffle

Tech major Google LLC announced reshuffle to its group structure and leadership roles in Artificial Intelligence to prepare its Knowledge & Information team for the Gemini era. With the move, the company aims to strengthen its race in AI, which moves faster than any other technology, amid surging competition. Prabhakar Raghavan, who has been leading Knowledge & Information, which includes Search,

RTTNews | 31 days ago

U.S. Justice Department Weighs Breakup Of Google

The U.S. Department of Justice said it is considering behavioral and structural remedies for Google LLC, noting that its anticompetitive conduct resulted in interlocking and pernicious harms that present unprecedented complexities. The move indicates that the DOJ was considering a possible breakup of Google as an antitrust remedy, reports said.

RTTNews | 40 days ago

Google To Stop Linking To News Content In New Zealand

Google's New Zealand division, in an update addressing the country's Fair Digital News Bargaining Bill, said it would be forced to stop linking to news content on Google Search, Google News, or Discover surfaces in the country. The Bill proposes a "link tax" that would require Google to pay simply for linking to news articles. In a New Zealand Blog post, the company said it would discontinue...

RTTNews | 45 days ago

Apple Reportedly Exits From OpenAI's $6.5 Bln Funding Round

Apple Inc. is no longer in talks to participate in an upcoming funding round for Chatbot ChatGPT maker OpenAI, which is expected to raise as much as $6.5 billion, The Wall Street Journal reported citing people familiar with the matter.

RTTNews | 49 days ago

Google Wins Court Bid Against EU's EUR 1.5 Bln Atitrust Fine Over AdSense

Google, owned by Alphabet Inc., won a legal fight with the European Union over a 1.5 billion euros or $1.7 billion antitrust fine over online ads search. The General Court, the second-highest EU court, has ruled to annul the fine imposed by the European Commission against the search engine for allegedly abusing market dominance in relation to a product called AdSense for Search.

RTTNews | 61 days ago

FDA Authorizes Apple's OTC Hearing Aid Software

The U.S. Food and Drug Administration authorized Apple Inc.'s over-the-counter or OTC hearing aid software device, Hearing Aid Feature, a first of its kind. The tech major intends to use the new software with compatible versions of the Apple AirPods Pro headphones. The Hearing Aid Feature or HAF, once installed and customized to the user's hearing needs, enables compatible versions of the AirPods

RTTNews | 66 days ago

Apple, Google To Lose Billions After Defeat In EU Court Battles

The Court of Justice of the European Union, the top court in the region, on Tuesday ruled against tech major Apple Inc. over tax rulings issued by Ireland, as well as Google, owned by Alphabet Inc., over antitrust fine, which may cause the tech majors to lose billions of dollars. The Court now confirmed the European Commission's 2016 decision that Ireland granted Apple unlawful tax benefits...

RTTNews | 69 days ago

EURUSD	1.0597	GBPUSD	1.26775	AUDUSD	0.65072
USDJPY	154.507	USDCAD	1.40165	USDCHF	0.883