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EU imposes antitrust penalties of $800 million on Apple and Meta, with Meta labeling the fine as a 'tariff'.

EU imposes €700 million fine on Apple and Meta, marking the initial application of its groundbreaking digital competition legislation.

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European Union's administrative body, the European Commission, announced penalties against Apple...
European Union's administrative body, the European Commission, announced penalties against Apple and Meta on Wednesday.

EU imposes antitrust penalties of $800 million on Apple and Meta, with Meta labeling the fine as a 'tariff'.

Updated News:

Tech Giants Apple and Meta Fined by the European Union for Digital Market Act Breaches

Get ready for some hefty fines! The European Union (EU) has handed out a combined €700 million ($825 million) in penalties against tech titans Apple and Meta. 💸💸

Both companies have found themselves on the naughty list for violating the bloc's flagship digital competition law, the Digital Markets Act (DMA).

  1. EU officially fines Apple and Meta a combined sum of $825 million for breaking the Digital Markets Act (DMA), a digital competition law.
  2. The fines, totaling €700 million ($825 million), are considered a significant penalty against these tech giants, amounting to half a billion dollars each.
  3. Kaplan, a digital market analyst, says these penalties highlight the EU's commitment to regulating the tech industry and ensuring a fair digital marketplace.
  4. With the technology sector increasingly influencing global business and daily life, experts like Kaplan believe that stricter tariffs and regulations will become more common to prevent potential market monopolies by tech companies like Apple and Meta.

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