Apple fined $571 million and Meta $228 million for breaching European Union antitrust rules

Apple fined 1 million and Meta 8 million for breaching European Union antitrust rules


Facebook and Instagram icons are seen displayed on an iPhone.

Jakub Porzycki | Nurphoto | Getty Images

The European Union on Wednesday fined Apple and Meta hundreds of millions of euros each for breaching the bloc’s digital competition laws.

The European Commission, which is the executive body of the EU, said it was fining Apple 500 million euros ($571 million) and Meta 200 million euros ($228.4 million) for breaches of the Digital Markets Act (DMA).

Officials said that Apple failed to comply with so-called “anti-steering” obligations under the DMA. Under the EU’s tech law, Apple is required to allow developers to freely inform customers of alternative offers outside its App Store.

The tech giant was ordered by the EU to remove technical and commercial restrictions on steering and to refrain from perpetuating its non-compliant conduct in the future.

Apple was not immediately available for comment when contacted by CNBC on Wednesday.

For Meta, the EU Commission found that the social media group illegally required users to consent to sharing their data with the company or pay for an ad-free service. This was in response to Meta’s introduction of a paid subscription tier for Facebook and Instagram in November 2023.

Joel Kaplan, Meta’s chief global affairs officer, said in a statement that the Commission was “attempting to handicap successful American businesses while allowing Chinese and European companies to operate under different standards.”

“This isn’t just about a fine; the Commission forcing us to change our business model effectively imposes a multi-billion-dollar tariff on Meta while requiring us to offer an inferior service. And by unfairly restricting personalized advertising the European Commission is also hurting European businesses and economies,” Kaplan said.

This is a breaking news story. Please check back for updates.



Source

Chinese stocks are on fire this year, drawing big interest from foreign and domestic investors
World

Chinese stocks are on fire this year, drawing big interest from foreign and domestic investors

When Hou Yujie isn’t convincing customers to rent traditional Chinese clothing for photos at the country’s famous Forbidden City, she and her friends are checking stocks. Hou recently put 10% of her money in the market. In just a few days, she earned one month’s salary — and she’s thrilled.  “Interest rates for bank deposits […]

Read More
U.S. pharma tariffs spare India’s generic drugmakers — but leave investors jittery
World

U.S. pharma tariffs spare India’s generic drugmakers — but leave investors jittery

MUMBAI, INDIA – MARCH 3: A technician works at a Cipla laboratory March 3, 2002 in Vikhrohi, Mumbai, India. Jean-marc Giboux | 3rd Party – Misc | Getty Images Stocks of leading Indian drugmakers fell on Friday, even though the 100% U.S. tariffs on branded and patented drug imports are unlikely to affect these companies. […]

Read More
Core inflation rate held at 2.9% in August, as expected, Fed’s gauge shows
World

Core inflation rate held at 2.9% in August, as expected, Fed’s gauge shows

Core inflation was little changed in August, according to the Federal Reserve’s primary forecasting tool, likely keeping the central bank on pace for interest rate reductions ahead. The personal consumption expenditures price index posted a 0.3% gain for the month, putting the annual headline inflation rate at 2.7%, the Commerce Department reported Friday. Excluding food […]

Read More