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☆ Dementia cases are on the rise — avoid these 12 risks to keep your brain healthy
▼ + stars: | 2024-05-08 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Halfpoint Images | Moment | Getty ImagesA global mental health crisis is on the horizon — dementia. While a healthy body can mitigate dementia risks, a healthy mind is no less important. "We do know [that] people who have cumulative mental health symptoms during their lifetime, actually [have] an increased risk of dementia," said Singham. "If we see symptomatic improvement [to one's mental health] throughout the life course, then that can decrease your chances of having dementia eventually." "The other thing I would encourage young people to do is have a very disciplined, good sleep hygiene because our brains really really need to rest," Ng said.

Persons: Timothy Singham, Singham, Ng Ai Ling, " Ng Organizations: World Health Organization, WHO, National University of Singapore, CNBC, Community Services

☆ Dollar steady after soft U.S. jobs report; yen starts week on back foot
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. On Monday, the yen weakened 0.43% to 153.62 per dollar in early trading, having touched a three-week high of 151.86 on Friday, as the dollar lost additional ground after the jobs data. But with Japanese authorities choosing last week's quiet periods to intervene in the yen market, traders will be on high alert through the day. Markets are now pricing in 45 basis points of cuts this year, with a rate cut in November fully priced in.

Persons: Jerome Powell, Goldman Sachs Organizations: Federal Reserve, Bank of, Fed, Citi Locations: Japan, Britain, Bank of Japan, U.S

☆ Dozens of former employees plan to sue Bowlero alleging discrimination after EEOC closes case, lawyer says
▼ + stars: | 2024-05-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

During the company's earnings call with Wall Street analysts later Monday, executives said that the EEOC investigation was now behind them and would no longer be a distraction. "Because of limited resources, we cannot file a lawsuit in every case where we find discrimination," the EEOC explains on its website. It's unclear if the question of whether to sue Bowlero made it to a vote with the EEOC's commissioners. He told CNBC he plans to sue Bowlero for $80 million, plus legal fees. In response, Bowlero's attorneys Alex Spiro and Hope Skibitsky at law firm Quinn Emanuel said they "are pleased with the outcome of the EEOC investigation."

Persons: Bowlero, Thomas Shannon, Robert Lavan, there's, it's, Daniel Dowe, EEOC, Dowe, Alex Spiro, Hope Skibitsky, Quinn Emanuel, Thomas Tanase, Tanase's, didn't Organizations: U.S, Commission, CNBC, AMF, Lucky, Wall Street, Bowlero Locations: North America, Virginia

☆ Trump Media hires new auditor after previous accounting firm charged with 'massive fraud'
▼ + stars: | 2024-05-06 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Trump Media hired a new auditor over the weekend, after its previous public accounting firm was accused Friday of perpetrating a massive fraud by the Securities and Exchange Commission. Trump Media said it had engaged Semple, Marchal & Cooper LLP on Saturday to replace BF Borgers. The ban required Trump Media and other public companies that had used BF Borgers to find new auditors. CNBC also requested comment from Phoenix-based Semple, Marchal, whose website said the firm in its four decades of operation it has "become a preeminent, and highly respected, certified public accounting firm." Trump Media was not yet publicly traded at the time of the alleged conduct by BF Borgers.

Persons: BF, Semple, Cooper, Donald Trump, BF Borgers, Marchal, Benjamin Borgers, Borgers Organizations: Trump Media, Securities and Exchange Commission, CPA, SEC, Marchal, BF, Company, Trump, CNBC Locations: Phoenix, Lakewood , Colorado

☆ Cramer's week ahead: Earnings from Disney, Uber and Warner Bros. Discovery
▼ + stars: | 2024-05-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday guided investors through the upcoming earnings-packed schedule on Wall Street, saying to focus on reports from companies such as Uber , Disney and Warner Bros. Since April's labor report was weaker than expected, he said investors can worry less about the Federal Reserve's next move. Monday brings earnings from Simon Property Group and Tyson Foods , the latter of which Cramer said he thinks could be a "bounce-back play." Wynn Resorts and Reddit also release earnings that day, and Cramer said he thinks both could put up solid numbers. Cramer will be paying attention to Uber's report on Wednesday, saying he wonders whether its earnings will be hurt by competition from Lyft .

Persons: CNBC's Jim Cramer, Cramer, Warren, Reddit, Airbnb, Robinhood Organizations: Disney, Warner Bros ., Federal, Berkshire Hathaway, American Express, Apple, Cola, Occidental Petroleum, Simon Property, Tyson Foods, Wynn Resorts, Lyft, Toyota, AMC Entertainment, Warner Bros, Discovery, National Basketball Association, Akamai Technologies, Federal Trade, Capri, Enbridge

☆ Meta hit with major EU probe into disinformation handling ahead of European elections
▼ + stars: | 2024-04-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Mark Zuckerberg, CEO of Meta testifies before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Meta on Tuesday was hit by the European Commission — the executive body of the European Union — with a major investigation into its compliance with the EU's strict internet content rules. The Commission said it is investigating Meta over concerns the company hasn't done enough to ensure effective combatting of disinformation ahead of upcoming European Parliament elections. The European Parliament elections are due to take place on June 6-9. "We look forward to continuing our cooperation with the European Commission and providing them with further details of this work."

Persons: Mark Zuckerberg, Meta Organizations: Dirksen, Meta, European Commission, European, DSA, Services, EU, Facebook, CNBC Locations: Washington ,

☆ Apple's iPad caught in EU's crosshairs as it clamps down on 'gatekeepers'
▼ + stars: | 2024-04-29 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The European Commission said users are "locked in" to iPadOS and it's hard for them to switch. It comes as a part of a broader crackdown on "gatekeepers" and a market investigation into Apple. The DMA was designed to ensure fairness and healthy competition in the digital landscape and hold Big Tech "gatekeepers" accountable. In September, the EU Commission designated Alphabet, Amazon, Apple, ByteDance, Meta, and Microsoft gatekeepers. The EU said Monday that its iPadOS investigation found it has "features of a gatekeeper."

Persons: —, Apple's iPadOS, Margrethe Vestager, Apple didn't Organizations: EU, Digital, European Commission, Apple, Service, European, Big Tech, Business, EU Commission, Meta, Microsoft

☆ A flurry of new rules from the Biden administration attempt to ban noncompetes, boost overtime pay, and increase refunds for delayed flights
▼ + stars: | 2024-04-27 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Read previewThe Biden administration this week pushed out a slate of rules it says are meant to boost competitiveness and put more money into workers' pockets. There are already challenges to at least one of the rules — but together they could land overtime pay for millions more workers, ban noncompetes that prevent workers from moving into jobs in similar industries, and help people get automatic refunds for delayed or canceled flights. More workers eligible for overtime payUnder the Department of Labor's new rule, many workers who make under $43,888 will be eligible for overtime pay effective July 1. A ban on noncompetes that keep workers from taking new jobsPerhaps the most sweeping action for workers came from the Federal Trade Commission, which finalized a rule to ban noncompetes in most cases. Will a ban on noncompetes, new overtime thresholds, or airline refunds affect your life?

Persons: —, Biden, Lael Brainard, That's, it's, Judy Conti, Pete Buttigieg, Brainard, Aaron, Ryan, John Smith, Suzanne Clark, Jeremy Merkelson, Davis Wright Tremaine, Merkelson, Elizabeth Wilkins, Wilkins Organizations: Service, Business, National Economic Council, Department of, National Employment Law, of Transportation, Federal Trade Commission, . Upjohn Institute, Employment Research, of Commerce, Texas Association of Business, Federal Trade, Chamber of Commerce, FTC

☆ U.S. Chamber of Commerce, business groups sue FTC over ban on noncompete clauses
▼ + stars: | 2024-04-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

The U.S. Chamber of Commerce and several other business groups on Wednesday sued the Federal Trade Commission in Texas federal court over the commission's vote to ban noncompete clauses, which are used to block employees from leaving to work for competitors in the same industry. On Tuesday, the FTC voted to enact the ban on the basis that noncompete clauses stifle the efficiency of the labor market, hinder competition and can lead to higher prices for consumers. The business groups claimed that the FTC's ban, "breaks with centuries of state and federal law." In addition to the Chamber of Commerce, the Business Roundtable, Texas Association of Business and Longview Chamber of Commerce are all plaintiffs in the suit. The FTC suggested that instead of relying on noncompete clauses, companies should look to other safeguards of information, like nondisclosure agreements.

Persons: Lina Khan, Douglas Farrar Organizations: House Energy, Commerce, U.S . Chamber of Commerce, Wednesday, Federal Trade Commission, Federal, U.S . Chamber, Eastern District of Texas, Chamber of Commerce, Business Roundtable, Texas Association of Business, Longview Chamber, FTC, CNBC Locations: Texas, Eastern District

☆ Paperwork is not going to solve the energy crisis, says Dutch minister Rob Jetten
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPaperwork is not going to solve the energy crisis, says Dutch minister Rob JettenRob Jetten, deputy prime minister and minister of climate and energy of the Netherlands, dicusses the importance of pushing the energy transition to the top of the European Commission's agenda.

Persons: Rob Jetten Rob Jetten Locations: Netherlands

☆ The biggest money managers are flocking to gold as inflation fears intensify
▼ + stars: | 2024-04-18 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Gold futures settled at a record high above $2,400 an ounce this week. The precious metal is coming off its third straight week of gains. Gold is often used as an inflation hedge because of its limited supply. @GC.1 YTD mountain Gold Professional speculators' net-long positions in gold futures and options hovered near the highest level since 2020 as of April 9, according to the Commodity Futures Trading Commission's latest data. The hedge fund star revealed that not only did he own the popular SPDR Gold Trust fund (GLD), but he also bought physical bars.

Persons: James Steel, David Neuhauser, Neuhauser, Greenlight Capital's David Einhorn, Einhorn Organizations: Citi, Investors, HSBC Securities, Gold, Commodity, Livermore Partners, CNBC, Trust, Deutsche Bank Locations: Northbrook , Illinois

☆ FCC to vote to restore net neutrality rules, reversing Trump
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Jessica Rosenworcel, chairwoman of the Federal Communications Commission (FCC), speaks during the US Chamber of Commerce's Global Aerospace Summit in Washington, D.C., Sept 14, 2022. The U.S. Federal Communications Commission will vote to reinstate landmark net neutrality rules and assume new regulatory oversight of broadband internet that was rescinded under former President Donald Trump, the agency's chair said. The FCC told advocates on Tuesday of the plan to vote on the final rule at its April 25 meeting. The commission voted 3-2 in October on the proposal to reinstate open internet rules adopted in 2015 and reestablish the commission's authority over broadband internet. FCC Chair Jessica Rosenworcel confirmed the planned commission vote in an interview with Reuters.

Persons: Jessica Rosenworcel, Donald Trump Organizations: Federal Communications Commission, US Chamber of Commerce's Global Aerospace Summit, Washington , D.C, U.S . Federal Communications Commission, FCC, Reuters Locations: Washington ,

☆ Part scary, part exciting: How artists are using AI in their work
▼ + stars: | 2024-04-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +7 min

But they also said they were excited about what generative AI might bring. Installation artist Rubem Robierb was "shocked" when he first saw what generative AI could do, he told CNBC by phone. "In its infancy, [generative] AI can create more images in a second [than] the human brain can even process. As it exists right now, [generative] AI sources from known images, known artwork, and known artists to complete a task. Generative artUsing generative AI in an ethical manner is a key consideration for London gallery the Serpentine, which has developed AI projects with artists since 2014, according to its CEO Bettina Korek.

Persons: Refik, Hugo Glendinning, OpenAI's DALL, Rubem Robierb, Robierb, Dandara dos Santos, Rubem, Bettina Korek, Refik Anadol, Korek, Anadol, Julian Espagnon, Danilo S, Shane Guffogg, Carlucci, Holly Herndon, Mat Dryhurst, Jordan Meyer, Guffogg, I'm Organizations: CNBC, Celebrity Cruises for Edge, Smithsonian Institution, Economic, United Arab, & Systems, gallery's Arts Technologies Locations: London, New York City, Fortaleza, Brazil, New York, Miami, Europe, Serpentine, Davos, Switzerland, United Arab Emirates, Herndon, Venice, Italy, California

☆ The city of Malibu is taking a family to the state supreme court to stop them from building a tiny home in their backyard for their elderly parent
▼ + stars: | 2024-03-30 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

But a Malibu couple's struggle to build an ADU shows how local governments are standing in the way. Jason and Elizabeth Riddick have been trying to build an ADU in their backyard in the pricey coastal enclave since July 2020. So they applied for a permit from the city to build a small ADU and a minor addition to their existing house. So the Riddicks sued the city and in July 2022, a Los Angeles County Superior Court judge sided with the couple. Again, the city appealed the decision, this time to the state supreme court this month.

Persons: —, Elizabeth Riddick, Elizabeth, they've, Elizabeth said, Jason, David Deerson, Deerson, they're, ADUs Organizations: Service, Business, Malibu Times, Pacific Legal Foundation, New, New York City Locations: California, Los Angeles, LA County, New York

☆ The Age of AI BS: Companies Are Exaggerating What Their Tech Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.

Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California

BOSTON (AP) — Financially embattled hospital operator Steward Health Care has struck a deal to sell its nationwide physician network to Optum, a subsidiary of UnitedHealth Group, as it works to stabilize its finances. Maura Healey has said state monitors are keeping eye on the nine health care facilities operated by Steward Health Care in Massachusetts, including hospitals in some of the state’s poorer communities. Emails to Steward Health Care and Optum seeking comment were not immediately returned. Democratic U.S. Sen. Edward Markey said for-profit companies that participate in the health care system must understand that their decisions have direct impacts on patients and communities. “After years of gross profiteering and mismanagement, Steward’s latest plan raises more serious questions about the future of the Massachusetts health care system," Warren said in a written statement.

Persons: —, Maura Healey, Optum, David Seltz, ”, ” Seltz, Ronald Mariano, Democratic U.S . Sen, Edward Markey, ” Markey, “, Sen, Elizabeth Warren, Steward’s, Warren, Steward Organizations: BOSTON, Health Care, UnitedHealth, Steward Health Care, Department of Public Health, Steward, Democratic Massachusetts, Democratic U.S ., Health, Education, Labor, Primary Health Locations: Massachusetts, The Dallas, Boston, U.S

☆ Companies Are Luring Investors by Exaggerating What Their AI Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

☆ Stocks making the biggest moves midday: GameStop, Merck, Carnival, Cintas and more
▼ + stars: | 2024-03-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

GameStop — GameStop shed nearly 15% after the video game retailer reported lower fourth-quarter revenue from a year ago. Merck — Merck jumped 4% after the U.S. Food and Drug Administration on Tuesday approved its drug to treat a life-threatening lung condition. However, Carnival reported an adjusted loss per share of 14 cents, better than the 18 cent loss analysts had expected. Cintas raised its full-year earnings and revenue guidance. Reddit — The social media stock slumped 13%.

Persons: Merck — Merck, Cintas, Reddit, Morgan Stanley, Wells, Concentrix, Coinbase, Donald Trump's, nCino, —, Alex Harring, Hakyung Kim, Michelle Fox, Tanaya Macheel, Jesse Pound, Brian Evans, Sarah Min Organizations: GameStop, Merck, U.S . Food, Drug Administration, LSEG, New York Stock Exchange, Marvell Technology, Citi, Deutsche Bank, General, —, Electric, U.S . Securities, Exchange, SEC, Moderna, Trump Media & Technology, Truth Social Locations: U.S, Wells Fargo

☆ Cramer says Washington's antitrust fights against Big Tech don't hold weight
▼ + stars: | 2024-03-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday told investors he thinks the government's antitrust lawsuits against prominent names in Big Tech — Apple , Alphabet 's Google and Amazon — aren't justified. "Honestly, I wish the White House would just admit the truth: They want to make the biggest businesses less powerful," he said. The DOJ also alleged Apple has a "smartphone monopoly" that makes it difficult and pricey for consumers and developers to venture outside the Apple ecosystem. If they annihilate Google, I guess we'll take our queries to Claude 3," Cramer said. "And if they get [Apple CEO] Tim Cook, maybe for the first time, someone will want a Nokia smartphone."

Persons: CNBC's Jim Cramer, Alphabet's, Apple, Cramer, Claude, Tim Cook Organizations: Big Tech, Federal, Amazon, The, Justice, Alphabet's Google, DOJ, Google, Apple, Nokia, FTC

☆ Billionaires going to space aim to industrialize the moon, asteroids, and Mars. It's time to set some ground rules.
▼ + stars: | 2024-03-23 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +10 min

Read previewThe space business is in bloom and, so far, it's largely unregulated. Other space startups have ambitions including asteroid mining, in vitro fertilization (IVF) in space, and space hotels. As space startups and billionaires vie for a foothold on the moon and beyond, experts say governments probably need to start setting some ground rules. Seven of the world's 10 biggest commercial space operators are based in the US, according to the Organisation for Economic Co-operation and Development. AdvertisementIn another vein, last year Florida passed a bill to protect space companies and their owners from getting sued over spaceflight passenger death or injury.

Persons: —, Jeff Bezos's, Elon Musk, Bezos, NASA What's, George Nield, Galileo, Joel Kearns, Richard Branson, Galactic's, Lyndon B, Johnson, Jeff Bezos, Joe Raedle, Michelle Hanlon, Jared Isaacman, William Shatner, Hanlon Organizations: Service, NASA, Houston, SpaceX, Business, Northeastern University, Federal Aviation Administration's, Space Transportation, JPL, FAA, Virgin Galactic, Virgin, Getty, Artemis Accords, Hague Institute, Global Justice, Washington, Companies, Shepard, Center for Air, Space, University of Mississippi School of Law, titans, US International Trade Commission, Organisation for Economic Co, Federal Communications Locations: Mars, Russia, China, Blue, Florida

☆ Apple will allow iPhone app downloads from websites in Europe
▼ + stars: | 2024-03-12 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

IPhone users in the European Union will be able to download apps from websites, instead of through the App Store or a competing app store app, Apple said, in the the latest change forced by the European Commission's Digital Markets Act. Tuesday's announcement is the latest example of the Digital Markets Act forcing Apple to make long-resisted changes to its App Store business processes. Under the DMA, Apple has been forced to allow third-party app stores in Europe, has reinstated antitrust adversary Epic Games' developer account amid a legal dispute, and has backtracked on banning web app shortcuts on the main iPhone screen. Apple still plans to charge a fee of fifty Euro cents for app downloads outside of its App Store, including web app downloads. The company has said Europe represents about 7% of Apple's App Store revenue.

Persons: Tim Cook, Apple, Margrethe Vestager, Vestager Organizations: Apple Inc, Apple Worldwide Developers, European Union, Commission's, Apple, Digital, Epic Games, Commission, European Commission, Spotify, EU, CNBC Locations: San Jose , California, U.S, European, Europe, iPhones

☆ Big Tech goes from 'teenager' to 'grown-up' under landmark EU law. Here's what you need to know
▼ + stars: | 2024-03-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Justin Tallis | AFP via Getty ImagesAn EU law that seeks to rein in large digital companies has officially kicked in, spelling big changes for primarily U.S. tech giants. CNBC runs through how the law impacts large U.S. tech companies — as well as consumers in the EU. The EU Digital Markets Act primarily impacts U.S. tech giants — the likes of Alphabet , Amazon , Apple , and Meta . The rules have already sparked big changes for tech giants in how they serve customers in the EU. It's likely more adjustments will come, as competitors to Big Tech firms aren't happy with the proposals put in place so far.

Persons: Justin Tallis, Bill Echikson, Echikson, ByteDance, Apple Organizations: Apple, Facebook, Microsoft, Getty, Digital Markets, European Commission, Center for, CNBC, Big Tech, EU Digital Markets, Meta, Google, Companies, EU, Spotify Locations: EU, U.S, iPhones

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Apple has been hit with a fine of nearly $2 billion by the European Commission over music streaming restrictions
▼ + stars: | 2024-03-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The European Commission fined Apple 1.8 billion euros for abusing its market dominance. Apple restricted app developers from informing users about alternative, cheaper music services. AdvertisementApple has been hit with a fine of 1.8 billion euros ($1.95 billion) by the European Commission, part of the European Union. The EU regulators said iOS users paid "significantly higher prices for music streaming subscriptions" as a result of Apple imposing the fees on developers, which lasted for nearly a decade. The streaming firm claimed Apple's App Store rules "purposely limit choice and stifle innovation" by imposing a 30% commission on app developers.

Persons: —, Apple, Apple didn't Organizations: European Commission, Apple, Spotify, Service, European Union, Digital Markets, Commission, Business Locations: EU, Paris

☆ A big fine in Europe adds to Apple's 2024 woes. What it will take to get back on track
▼ + stars: | 2024-03-04 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

Apple shares tumbled on Monday after European regulators hit the tech giant with a big antitrust fine over music streaming. The European Commission dished out a $1.95 billion fine — claiming Apple violated competition laws in the music streaming market. Apple and Spotify have rival audio streaming services. "New AI services should compel users to upgrade iPhones, driving a Supercycle in 2025," the analysts said in a note to clients Monday. Melius also sees upside to Apple Services due to AI-infused software features.

Persons: —, Jim Cramer, Jim, Tim Cook, Apple, we're, Melius, Jim Cramer's, Scott Eells Organizations: Apple, European, European Union, Spotify, European Commission, Big Tech, Microsoft, Nvidia, Nvidia's, Huawei, India . Club, Apple Music, Research, Apple Services, CNBC, Nasdaq, Bloomberg, Getty Locations: Europe, American, China, India, New York

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