Tag

Digital Markets

All articles tagged with #digital markets

businesstechnology1 year ago•6 min saved

"EU's Digital Markets Act: Big Tech Faces Sweeping Changes and Investigations"

The European Union's Digital Markets Act (DMA) has come into force, affecting six major tech companies, five of which are American. The Biden administration received protests from U.S. industry associations and members of Congress but chose not to push the issue, prioritizing other international matters. The DMA requires significant changes from tech giants operating in the EU, aiming to increase competition and protect consumer data. While some U.S. officials have expressed concerns about the law, others see it as a positive step and praise the administration for not solely advocating for U.S. tech companies.

via The Washington Post|

#antitrust-law #biden-administration #big-tech

businesstech1 year ago•1 min saved

"EU Monitoring Apple's App Store Changes, Prepares for Strong Action"

Apple's proposed App Store changes, including allowing third-party App Stores and offering an alternative business model for developers in the EU, are being closely examined by the EU, which has stated its readiness to "take strong action" if necessary. The terms imposed by Apple have raised concerns among developers and are likely to face objections from third parties, potentially leading to regulatory scrutiny under the Digital Markets Act. EU industry chief Thierry Breton emphasized the importance of fair and open digital markets and indicated that the EU will assess companies' proposals and seek feedback from third parties before making a decision.

via 9to5Mac|

#antitrust #app-store #apple

technology1 year ago•1 min saved

"Xbox President Criticizes Apple's App Store Changes in the EU"

Xbox president Sarah Bond criticizes Apple's new policy of charging a fee for iOS apps released outside of the App Store, calling it "a step in the wrong direction." This comes in response to a new EU law that requires Apple to allow developers to create and offer new apps without using the App Store. The controversial fee demands that developers pay Apple €0.50 for every download over a million, leading to criticism from Spotify CEO Daniel Ek and Xbox president Bond. Apple's decision has sparked debate about open platforms, competition, and the future of app distribution on iOS devices.

via Video Games Chronicle|

#app-store #apple #digital-markets

technology2 years ago•1 min saved

"Apple's Controversial Transaction Fees Stir Outrage Among App Developers and Users"

Apple has sparked outrage by introducing transaction fees that could cost iPhone and iPad app users more money, despite a US judge's order to change its 30% levy on subscriptions and in-app purchases. The company will still profit after introducing a 27% commission on purchases, leading to concerns that this move could be introduced in the UK. Tech watchdog Digital Markets Unit is being urged to legislate to prevent this, with Spotify calling for an end to Apple's fees through the Digital Markets, Competition and Consumers Bill.

via Daily Mail|

#app-store #app-users #apple

technology2 years ago•4 min saved

Spotify CEO Warns of Tech Titans' Control and Calls for AI Regulation

Spotify CEO Daniel Ek is urging the UK to adopt a bill that would regulate competition in digital markets, aiming to reduce the dominance of Apple and Google. The proposed Digital Markets, Competition, and Consumers Bill (DMCC) would allow authorities to impose conduct requirements on companies and promote competition. Ek argues that Apple and Google's control over how consumers access the internet is "insane" and that a company acting as a referee in the digital market should not also be a player. The DMCC would give regulators the power to impose fines for rule breaches and require more transparency from tech companies. Spotify has been in a long-standing feud with Apple, including a regulatory complaint in the EU and support for US legislation requiring alternate app stores.

via MacRumors|

#apple #competition #digital-markets

business2 years ago•5 min saved

"US Government Implements Stricter Merger Guidelines in Response to Digital Economy"

The Biden administration has unveiled draft changes to the US merger review guidelines, marking the first comprehensive update in over a decade. The proposed changes could lead to a significant shift in how the government identifies and scrutinizes mergers and acquisitions that are deemed anticompetitive. The updates include a focus on labor markets, allowing regulators to assess potential harm to worker pay and benefits. Additionally, the revised guidelines address mergers involving "platform companies" in digital markets, reflecting concerns about tech giants and their impact on competition. The draft guidelines are open for public comment until September 18.

via CNN|

#anticompetitive-mergers #biden-administration #business

business2 years ago•1 min saved

CMA's Block of Microsoft-Activision Merger Criticized by Survey and Cloud Gaming Providers

A recent poll by Censuswide found that 25% of the public disagreed with the UK Competition and Markets Authority's decision to block Microsoft's $70bn deal to acquire Activision Blizzard, while 16% agreed with the decision. The regulator blocked the move last month, citing concerns it would lessen competition in the UK cloud gaming market. Microsoft has already said it will appeal the decision, while Activision said the regulator's decision was a "disservice to UK citizens." The Digital Markets, Competition and Consumer Bill will give sweeping powers to the CMA to target big tech firms, block mergers and levy fines if they do not follow certain rules.

via City A.M.|

#activision-blizzard #business #competition-and-consumer-bill

business2 years ago•9 min saved

"Microsoft's Acquisition Plans and Deals: A Roundup"

The UK's Competition and Markets Authority (CMA) has been accused of institutional schizophrenia after issuing a statement on digital markets that contradicted its own ruling to block Microsoft's purchase of Activision Blizzard. The CMA's lack of understanding of the tech industry, especially on the part of the Inquiry Group, has been blamed for the contradictory statement. The CMA's actions have been deemed counterproductive and damaging to UK consumers and companies.

via FOSS Patents|

#activision-blizzard #business #cma

business2 years ago•2 min saved

UK Implements Tough Measures Against Big Tech's Unfair Practices.

The UK government's new Digital Markets, Competition and Consumer Bill bans fake reviews and subscription traps, and seeks to end the market dominance of big tech firms. The bill creates the Digital Markets Unit, which will be part of the Competition and Markets Authority, and will have the power to open up specific markets and issue fines of up to 10% of global turnover for non-compliance. The bill will also require firms to remind people when free subscription trials end and ensure platforms take "reasonable steps" to verify that product and service reviews are genuine.

via BBC|

#big-tech #business #competition

technology2 years ago•1 min saved

UK Implements Tough New Tech Regulations to Protect Consumers.

The UK government is set to introduce a new law to regulate the power of big tech companies such as Google, Facebook, and Amazon, and to protect consumers by making it easier to opt out of online subscriptions and tackle fake reviews. The legislation will give the Competition and Markets Authority's Digital Markets Unit new powers over tech companies with a global turnover of more than £25bn or a British turnover above £1bn. The CMA will be able to tailor rules for tech companies to stop them unfairly disadvantaging smaller businesses and consumers, and they could be fined up to 10% of global turnover if they breach the rules.

via Reuters|

#big-tech #competition #consumer-protection