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Apple Set to Face Near €500 Million EU Fine in Spotify Row

First fine the bloc has levied against the US tech giantSeparately, EU will accept settlement offer in Apple Pay spatThe Spotify application in the Apple App Store.Apple Inc. will face a European Unio

Apple Set to Face Near €500 Million EU Fine in Spotify Row

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The Financial Times reported the fine earlier.</p><p style=\"text-align: start;\">The EU’s investigation into Apple’s App Store was sparked by a complaint nearly four years ago from Spotify, which claimed it was forced to ramp up the price of its monthly subscriptions to cover costs associated with Apple’s alleged stranglehold on how the App Store operates.</p><p>In a closed-door meeting between EU officials and Apple in June last year, the tech firm told regulators it had already addressed any possible competition concerns arising from Spotify’s complaint.</p><p style=\"text-align: start;\">In a separate probe, Apple is set to have its settlement proposal in the EU’s investigation into its tap-and-pay tech accepted, according to people familiar with the matter.</p><p style=\"text-align: start;\">The commission is poised to accept a 10-year offer from Apple to open up access to its coveted near-field communication chip on iPhones to rival digital wallets, after a market test received largely positive feedback, the people, who asked not to be identified because the matter is private, said.</p><p style=\"text-align: start;\">Apple’s move to settle the case came after the EU watchdog earlier raised formal concerns that the company had restricted access to the technology, amounting to an alleged abuse of its market power.</p><p style=\"text-align: start;\">EU competition chief Margrethe Vestager has made it a core strategy to attempt to dismantle Big Tech’s dominance in the bloc. She’s slapped Alphabet Inc.’s Google with fines of more than €8 billion ($8.6 billion) and also ordered Apple to repay €13 billion in allegedly unfair tax breaks from Ireland.</p><p style=\"text-align: start;\">Her regulators are now readying for enforcement of the bloc’s flagship Digital Markets Act — set to come into play on March 7. The sweeping new rules are intended to head off competition violations by tech firms before they take root.</p><p style=\"text-align: start;\">Under the DMA, it will be illegal for the most powerful firms to favor their own services over those of rivals. They’ll be barred from combining personal data across their different services, prohibited from using data they collect from third-party merchants to compete against them, and will have to allow users to download apps from rivals platforms.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Set to Face Near €500 Million EU Fine in Spotify Row</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Set to Face Near €500 Million EU Fine in Spotify Row\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-19 06:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-02-18/apple-set-to-face-near-500-million-eu-fine-in-spotify-row?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>First fine the bloc has levied against the US tech giantSeparately, EU will accept settlement offer in Apple Pay spatThe Spotify application in the Apple App Store.Apple Inc. will face a European ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-02-18/apple-set-to-face-near-500-million-eu-fine-in-spotify-row?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","BK4538":"云计算","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0109392836.USD":"富兰克林科技股A","LU0557290698.USD":"施罗德环球可持续增长基金","LU0528227936.USD":"富达环球人口趋势基金A-ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0079474960.USD":"联博美国增长基金A","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4581":"高盛持仓","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0234572021.USD":"高盛美国核心股票组合Acc","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD"},"source_url":"https://www.bloomberg.com/news/articles/2024-02-18/apple-set-to-face-near-500-million-eu-fine-in-spotify-row?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2412918613","content_text":"First fine the bloc has levied against the US tech giantSeparately, EU will accept settlement offer in Apple Pay spatThe Spotify application in the Apple App Store.Apple Inc. will face a European Union fine close to €500 million ($539 million) over the regulator’s investigation into allegations it silenced music-streaming rivals, including Spotify Technology SA, on its platforms.The penalty — Apple’s first ever from the bloc — will be set after the EU watchdog found that it fell foul of competition rules in thwarting rival music services from informing users that cheaper alternatives existed outside of its App Store, according to people familiar with the matter.Apple, when contacted for comment, referred to a previous statement, which said that the “App Store has helped Spotify become the top music streaming service across Europe.” The European Commission declined to comment. The Financial Times reported the fine earlier.The EU’s investigation into Apple’s App Store was sparked by a complaint nearly four years ago from Spotify, which claimed it was forced to ramp up the price of its monthly subscriptions to cover costs associated with Apple’s alleged stranglehold on how the App Store operates.In a closed-door meeting between EU officials and Apple in June last year, the tech firm told regulators it had already addressed any possible competition concerns arising from Spotify’s complaint.In a separate probe, Apple is set to have its settlement proposal in the EU’s investigation into its tap-and-pay tech accepted, according to people familiar with the matter.The commission is poised to accept a 10-year offer from Apple to open up access to its coveted near-field communication chip on iPhones to rival digital wallets, after a market test received largely positive feedback, the people, who asked not to be identified because the matter is private, said.Apple’s move to settle the case came after the EU watchdog earlier raised formal concerns that the company had restricted access to the technology, amounting to an alleged abuse of its market power.EU competition chief Margrethe Vestager has made it a core strategy to attempt to dismantle Big Tech’s dominance in the bloc. She’s slapped Alphabet Inc.’s Google with fines of more than €8 billion ($8.6 billion) and also ordered Apple to repay €13 billion in allegedly unfair tax breaks from Ireland.Her regulators are now readying for enforcement of the bloc’s flagship Digital Markets Act — set to come into play on March 7. The sweeping new rules are intended to head off competition violations by tech firms before they take root.Under the DMA, it will be illegal for the most powerful firms to favor their own services over those of rivals. They’ll be barred from combining personal data across their different services, prohibited from using data they collect from third-party merchants to compete against them, and will have to allow users to download apps from rivals platforms.","news_type":1},"isVote":1,"tweetType":1,"viewCount":88,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}