DOJ to sue Apple in antitrust case, source says
Freedom Capital Markets’ chief global strategist discusses how the TikTok ban could impact the U.S. stock market on “Kabuto: Coast to Coast.” The Justice Department plans to sue Apple for violating antitrust laws, according to people familiar with the case. Attorney General Merrick Garland and others Ministry of Justice official An announcement is expected later […]
DOJ to sue Apple for antitrust violations
The Justice Department also plans to file antitrust charges against Apple on Thursday for blocking competitors from accessing the iPhone’s hardware and software features. Bloomberg News reported on wednesday. The lawsuit is expected to be filed in federal court and will intensify the Biden administration’s antitrust battle against most of America’s largest technology companies, according […]
Hermès accused of violating antitrust law by only selling Birkins to ‘worthy’ customers
A new class action lawsuit in California accuses Hermès of violating antitrust laws by selling its iconic Birkin handbags only to customers who have a sufficient history of purchasing other products. The lawsuit, filed Tuesday in federal court in San Francisco, alleges that the salespeople sold Hermès ancillary products (commonly purchasable items such as scarves, […]
Apple in talks to use Google Gemini AI on iPhones despite antitrust concerns
Apple is reportedly in talks to add Google’s Gemini AI product to its iPhones, but both companies face increased scrutiny from antitrust regulators and Google’s AI chatbot. This is despite the fact that it has been revamped following massive backlash for producing an ahistorical, “woke” image. The Cupertino, California-based company wants to license to Google […]
Apple will allow third-party app downloads for EU iPhone users in latest concession to antitrust cops
Apple will allow iPhone users based in Europe to download apps directly from third-party websites. This is the latest attempt by tech giants to appease regulators after the European Union’s comprehensive competition law came into force earlier this month. The Cupertino, California-based company said “certified developers” will be able to offer direct downloads starting this […]
Apple CEO Tim Cook drastically ramps up lobbying in Washington as antitrust crackdown looms
Apple has launched a major charm offensive in Washington to counter a new wave of antitrust fever. And lobbyists and executives, including CEO Tim Cook, have met at the White House at least 87 times since Biden took office, according to public documents. The $3 trillion tech giant has been linked to Beltway influence peddlers, […]
Apple faces grilling by EU antitrust cops for blocking ‘Fortnite’ maker’s app store plans in Europe
Apple is facing heavy criticism from the European Union’s antitrust police after it blocked Fortnite maker Epic Games from launching its own app store for iPhone customers. It’s a brazen move as deadlines for compliance with Europe’s wide-ranging technology competition laws approach. The Cupertino, Calif.-based company announced Wednesday that it is terminating the developer accounts […]
JetBlue, Spirit call off $3.8B merger after losing antitrust suit
Low-cost airlines JetBlue and Spirit halted their $3.8 billion merger plan on Monday, weeks after a federal judge blocked the merger citing anticompetitive concerns. A successful deal would have created the fifth largest airline in the United States and ensured Spirit’s survival. “While both companies continue to believe in the pro-competitive benefits of a merger, […]
EU slaps Apple with $2B antitrust fine after complaint from Spotify
European Union regulators on Monday slapped Apple with a hefty 1.8 billion euros ($2 billion) antitrust fine for “abusing its dominant position” in the music streaming industry through its App Store practices. . The European Commission has ruled that Apple unlawfully restricts music app developers from promoting cheaper ways to subscribe to streaming services outside […]
Apple hit with nearly $2B antitrust EU fine
Jeff Sica, founder of Circled Squared Investments, discusses whether Microsoft can replace Apple as Varney & Co’s largest company by market capitalization. European regulators on Monday slapped Apple with a nearly $2 billion antitrust fine for “abusing” App Store rules related to music streaming providers. The European Commission said it found that Apple prohibited music […]