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04-11-2024 - Apple and Google face regulation

04-11-2024 - Apple and Google face regulation
Apr 11, 2024 · 2m 31s

Inflation, the economic indicator that overshadows the global landscape, continues to pose concerns worldwide, refusing to budge. This, according to a detailed report by the Financial Times, where rising inflation...

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Inflation, the economic indicator that overshadows the global landscape, continues to pose concerns worldwide, refusing to budge. This, according to a detailed report by the Financial Times, where rising inflation is aggressively holding its ground, casting long shadows over global economic perspectives and future financial market dynamics.

Meanwhile, jogging alongside this economic malaise, a legal battle has been waging. Leading tech giant, Apple, finds itself once again on the front lines, pitting itself against the United States Department of Justice. The aforementioned federal entity is not showing signs of respite, having taken action during a period of heightened tension and delicate balances. The Department of Justice's strategy seems clear: strike when the iron is hot, taking advantage of the stir caused due to inflation and the constant oscillations on the stock exchange to stake its claim.

However, Apple is not alone in its legal ordeal. Google, another leading figure in the tech world, is also enmeshed in the legal skirmish. Both Apple and Google are in the crosshairs of the Department of Justice with their app stores, which are under the purview of the proposed Digital Markets Act.

The Digital Markets Act, a draft legislation proposed by the European Commission, aims to impose new obligations on big tech companies to ensure that they behave fairly and allow smaller businesses to compete. This puts the app stores of these two tech giants under immense scrutiny, potentially leading to significant changes in their operating procedures.

Both Apple and Google are no strangers to regulatory scrutiny and have previously defended the integrity and fairness of their respective app stores. Nevertheless, caught in the crossfire of inflation concerns, looming legal battles, and potential regulatory changes, the tech titans will have to navigate through the stormy seas of global finance and law.

Further developments are awaited on this matter, highlighting the highly volatile nature of the tech industry and directly impacting the consumer base relying heavily on these platforms.
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