Indian Regulator Denies Apple's Request To Pause Antitrust Report

RTTNews | 9小时11分钟前
Indian Regulator Denies Apple's Request To Pause Antitrust Report

(RTTNews) - Apple Inc.'s request to put on hold an investigation report that found the tech major breaching competition laws has been denied by the Indian antitrust regulator, Reuters reported citing an internal order.

The Competition Commission of India or CCI has turned down the request, following which the case on Apple's app store practices on its iOS operating system will continue.

In August, the CCI had ordered a rare recall of two investigation reports that detailed alleged breaches of competition law by Apple. This was after the company complained that the regulator had disclosed commercial secrets to competitors including Tinder-owner Match Group, in the case dating back to 2021.

The case was centered around Apple's alleged abuse of its dominant position in the apps market to force developers to use its proprietary in-app purchase system, at a fee of up to 30 percent. The company, however, denied all wrongdoing.

The CCI then had asked parties to return the reports and destroy any copies, and then issued new reports.

As per the CCI's latest internal order, Apple in November alleged that Indian non-profit Together We Fight Society or TWFS, the main complainant in the antitrust investigation, had not complied with the directives to give an assurance that the old investigation reports had been destroyed.

The CCI order, dated November 13, shows that Apple asked the CCI to take action against TWFS for non-compliance with its order and to withhold the revised report.

However, the CCI in the order said, "Apple's request to hold the investigation report in abeyance was deemed untenable."

The internal order also showed that Apple has been asked to submit its audited financial statements for fiscal years 2021-22, 2022-23 and 2023-24 under regulatory guidelines. The move reportedly aims to determine possible monetary penalties in the case.

The CCI will make a final ruling on the ongoing case, following the review of the investigation report by its senior officials.

Apple has already been subject to antitrust investigations and orders in Europe, Japan and Korea, and also faces various lawsuits.

In March, the European Commission had fined Apple over 1.8 billion euros for abusing its dominant position through its App Store on the market for the distribution of music streaming apps to iPhone and iPad users or iOS users.

read more
Regulator CFPB To Consider Apple Pay, Other Digital Payment Apps As Banks

Regulator CFPB To Consider Apple Pay, Other Digital Payment Apps As Banks

The US Consumer Financial Protection Bureau or CFPB has finalized a rule to supervise Apple Inc. and other major technology firms that offer digital funds transfer and payment wallet apps, and treat them more like banks. In a statement, the US consumer watchdog said the rule on federal oversight of popular digital payment apps by the largest non-bank companies is aimed to protect personal data...
RTTNews | 3天前
Domino's, Pool Corp. Climb After Buffett's Berkshire Buys Stake

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 | 10天前
Apple Reportedly Exits From OpenAI's $6.5 Bln Funding Round

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 | 56天前
FDA Authorizes Apple's OTC Hearing Aid Software

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 | 73天前
Apple, Google To Lose Billions After Defeat In EU Court Battles

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 | 76天前
Apple's 'It's Glowtime' Launch Event Scheduled For Sept. 9

Apple's 'It's Glowtime' Launch Event Scheduled For Sept. 9

Apple Inc. has scheduled its upcoming launch event, titled "It's Glowtime," on September 9. The event at Apple Park, California, US, which will be livestreamed on Apple's website, is expected to launch iPhone 16 series and updates to other devices and apps. As per reports, invites have been sent for the in-person event, which is scheducled to commence at 10 AM PT.
RTTNews | 90天前
Microsoft, Apple Give Up OpenAI Board Seats

Microsoft, Apple Give Up OpenAI Board Seats

Tech majors Microsoft Corp. and Apple Inc. are dropping out of their respective seats on the Board of Directors of AI startup OpenAI, the developer of generative chatbot ChatGPT, amid the increasing regulatory scrutiny in Europe and the U.S. over generative AI, as per reports. Microsoft, OpenAI's largest investor, has quit as an observer on OpenAI's nonprofit board, a non-voting seat...
RTTNews | 138天前
Apple, Meta Held Talks For Potential AI Partnership: WSJ Reports

Apple, Meta Held Talks For Potential AI Partnership: WSJ Reports

Apple Inc. has discussed with Meta Platforms about potentially integrating the Facebook parent's generative AI model into Apple Intelligence, the Wall Street Journal reported citing people familiar with the matter. Apple Intelligence, the tech major's AI system for iPhones and other devices, was introduced at its annual developers conference in early June.
RTTNews | 154天前