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...The EU’s probe into web apps would come after the March 6 deadline for companies to comply with the terms of the DMA, landmark legislation designed to tackle the power of Big Tech groups....
...Ripley is only the latest casualty of a system that seems to have lost its way....
...The EU has launched probes into Apple, Alphabet and Meta in the first use of a landmark new law designed to rein in Big Tech’s market power....
...Around the world, more attempts are being made to put limits on tech company power. Slowly, Apple’s closed ecosystem is being chipped away....
...“There’s a lot of interest for this product,” said Ian Cooper, head of UK rates sales at Citibank....
...The commission said it was investigating under the Digital Markets Act, a new law aimed at curbing the power of the biggest online platforms....
...Liberal Democrat deputy leader Daisy Cooper also criticised the “shameless move to reward Liz Truss’s car crash cronies”, claiming it “calls this whole honours system into disrepute”....
...Remember a critical principle here, which is that market power attaches to products, not firms. We can speak of Microsoft as having market power in its Windows operating system....
...to use only its own payment system to keep them locked into its ecosystem, the US alleged....
...Let’s put aside the fact that Google’s Android mobile operating system controls 70 per cent of the market worldwide (and 40 per cent in the US)....
...Citing his trips to 17 countries last year, Fink wrote global politicians and businesspeople increasingly planned to invest in both oil and gas for energy security and green power for the energy transition...
...The most pressing issue for AI chipmakers is the ever-growing demand for more processing power and bandwidth requirements as companies rush to expand data centres and develop AI systems such as large language...
...Among them were Canadian pension fund Ontario Municipal Employees Retirement System, as well as the Abu Dhabi and Chinese sovereign wealth funds....
...The law has already led Apple to propose a series of changes to its iOS software, such as allowing users to download apps from other sources and access alternative payment systems....
...“There is a tonne of capital that needs to be put into the system and stakeholders need to decide how that will work....
...A version of this article was first published by Nikkei Asia on January 31. ©2024 Nikkei Inc. All rights reserved....
...“The client gets the benefit of two power brokers working who are incentivised,” Fatemi said. “The majority of clients don’t mind paying.”...
...Apple had been expected to remove the functionality with an update to its operating system in the coming days....
...The public trial was replete with documents and records supporting the narrative that Google has been attempting to maximise rents that can result from widening market power....
...The company estimates that 99 per cent of developers will see their fees reduced or maintained under the new system....
...For developers, meanwhile, being able to draw on the computing power of the iPhone will help cut down on expensive AI processing costs they would otherwise face....
...“I don’t think the FCA have got enough people or information to manage those firms,” said Ben Cooper, partner and head of the economic crime team at law firm TLT....
...Yvette Cooper, Labour’s shadow home secretary, said the Conservative government had acted “too slowly” in giving police chiefs these new powers and was “not going far enough to raise standards, root out...
...En route to power, everyone marches to the same tune....
...The EU requires large tech companies, including Google, Amazon, Meta and Microsoft, to inform Brussels by March how they are complying with the act, in legislation aimed at tackling the market power of Silicon...
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