![]() ![]() ![]() The bloc issued formal charges against the tech giant last year alleging it unfairly restricted competition in the mobile wallets market on its devices. On Wednesday, the European Union’s powerful antitrust watchdog signaled it is taking a closer look at Apple’s mobile payment system and said it is gathering more information on the company’s use of a payments chip. For Apple, which reported annual revenue of $394.3 billion for its 2022 financial year, a 10% fine would be nearly $40 billion. This is an upper limit, however, and fines are unlikely to climb that high. Penalties for antitrust violations in Europe can be severe and those found to have breached the European Union’s rules against abusing a dominant market position face a fine up to 10% of its annual turnover from the year before the decision. Additionally, any decision can be contested at multiple levels, further lengthening the time span. Investigations of this nature can take a long time to complete, potentially many years. Apple is often targeted over its prominent position as gatekeeper for what can be used and installed on its popular range of mobile devices, computers and other tech using its iOS operating system, which gives it a dominant position in the market and has been the subject of numerous investigations before. All big tech players, including Meta, Amazon and Alphabet, have been scrutinized. The regulators have proven influential in shaping approaches to the industry globally, particularly when it comes to people’s data, with both competition and privacy watchdogs jockeying to take on cases. ![]() European regulators have been especially active in this space and the bloc has some of the toughest rules in the world. In recent years, regulators around the world have stepped up efforts to curb the powers of big tech. “As Democrats have excluded Microsoft from antitrust scrutiny, commentators have noted how Microsoft has taken advantage of the circumstances to pursue an aggressive acquisition strategy,” the Republican said in his letter.Apple told Forbes its tracking transparency rules have received strong support from regulators and “apply equally to all developers,” itself included, adding that it will continue to work with the AGCM to address any of its questions. Over the last three decades, Microsoft has acquired over 200 companies. Citing its ‘misinformation’ policy, LinkedIn censored posts that the coronavirus originated from a dangerous laboratory in Wuhan, China, as well as posts that criticised government-mandated mask requirements,” Jordan added. “LinkedIn has restricted accounts for posts related to COVID-19. In one case, LinkedIn removed a post about an official US Senate committee report concerning Hunter Biden,” he said. Microsoft Corp on Friday will defend its 69 billion planned acquisition of 'Call of Duty' maker Activision Blizzard Inc, in a private antitrust lawsuit in San Francisco federal court brought by. “Multiple LinkedIn users have reported Microsoft’s censorship of posts related to Hunter Biden, son of President Joe Biden. Jordan said that Microsoft has similarly censored conservative speech on LinkedIn in the US. Microsoft was yet to comment on his letter to Smith. The Democrats’ investigation excluded Microsoft from significant oversight and the Democrats’ recently introduced bills include a definition of a “covered platform” that could be read to exclude Microsoft,” Jordan argued. “It is unclear why Microsoft has avoided significant attention from House Democrats. The US is currently investigating top tech companies like Amazon, Apple, Facebook, and Google over alleged anti-competition practices. He added, “Democrats also seem to have excluded Microsoft from scrutiny in their large package of bills to radically rewrite American antitrust law”. ![]()
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