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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU's Vestager on Apple fine: Quite obvious there was consumer harm doneEuropean Commission Executive Vice President Margrethe Vestager joins 'Squawk on the Street' to discuss the European Union's latest $1.95 billion fine against Apple, evidence of consumer harm against Apple, and more.
Persons: Margrethe Vestager Organizations: Apple
And Apple will give iPhone and iPad users access to rival app stores and payment systems for the first time. The tech giants have been preparing ahead of a Wednesday deadline to comply with a new European Union law intended to increase competition in the digital economy. Those changes are some of the most visible shifts that Microsoft, Apple, Google, Meta and others are making in response to a wave of new regulations and laws around the world. In the United States, some of the tech behemoths have said they will abandon practices that are the subject of federal antitrust investigations. “This is a turning point,” said Margrethe Vestager, the European Commission executive vice president in Brussels, who spent much of the past decade battling with tech giants.
Persons: , Margrethe Vestager Organizations: Google, Microsoft, European Union, Markets, Apple, Justice Department, European Commission, Locations: United States, Brussels
In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTwatch nowThe European Commission, the European Union's executive arm, on Monday hit Apple with a 1.8 billion euro ($1.95 billion) antitrust fine for abusing its dominant position on the market for the distribution of music streaming apps. Apple also banned developers of music streaming apps from providing any instructions about how users could subscribe to these cheaper offers, the Commission alleged. Apple responseIn a fiery response to the fine, Apple said Spotify would stand to gain the most from the EU pronouncement. That's because instead of selling subscriptions in their iOS app, Spotify sell them via their own website stead. Apple fine just a 'parking ticket'The Commission said that Apple prevented developers of music streaming apps from informing their iOS users within their apps about prices of subscriptions or offers available elsewhere.
Persons: Apple, , Margrethe Vestager, Vestager Organizations: European Commission, Apple, Commission, EU, U.S, Spotify, Apple Music Locations: Brussels, Stockholm, Sweden, Cupertino
Apple hit with landmark $2 billion EU antitrust fine
  + stars: | 2024-03-04 | by ( Anna Cooban | ) edition.cnn.com   time to read: +2 min
London CNN —The European Union has fined Apple €1.84 billion ($2 billion) for breaking its competition laws. The bloc announced Monday that it would impose the fine — its first-ever antitrust penalty on the US tech giant — for preventing rival music streaming services such as Spotify from telling iPhone users that they could find cheaper ways to subscribe outside of Apple’s app store. The European Commission opened a formal antitrust investigation into Apple in 2020 after Spotify (SPOT) lodged a complaint against Apple the previous year, accusing it of unfairly disadvantaging its competitors. It said Apple required the Swedish music streamer and other content providers to pay a 30% fee on purchases made through Apple’s in-app payment system, while its own service, Apple Music, didn’t have to pay the fee. Spotify also said Apple prevented it from sharing information about subscription deals with customers who use iPhones.
Persons: Margrethe Vestager, ” Vestager Organizations: London CNN, European Union, Apple, Spotify, European Commission, Apple Music, Digital Markets, Big Tech Locations: Apple’s
Apple on Monday was fined 1.8 billion euros ($1.95 billion) by European Union regulators for thwarting competition among music streaming rivals, a severe punishment levied against the tech giant in a long-simmering battle over the powerful role it plays as gatekeeper of the App Store. antitrust regulator, is the culmination of a five-year investigation set in motion by one of its biggest rivals, Spotify. Regulators said Apple illegally used its App Store dominance to box out rivals. “For a decade, Apple abused its dominant position in the market for the distribution of music streaming apps through the App Store,” said Margrethe Vestager, the European Commission executive vice president who oversees competition policy. “From now on,” she said in a news conference, “Apple will have to allow music streaming developers to communicate freely with their own users.” The size of the fine, she added, “reflects both Apple’s financial power and the harm that Apple’s conduct inflicted on millions of European users.”
Persons: , Margrethe Vestager, Organizations: Apple, Monday, European Union, Spotify, European Commission
LONDON (AP) — The European Union is expanding its strict digital rulebook on Saturday to almost all online platforms in the bloc, in the next phase of its crackdown on toxic social media content and dodgy ecommerce products that began last year by targeting the most popular services. The EU's trailblazing Digital Services Act has already kicked in for nearly two dozen of the biggest online platforms, including Facebook, Instagram, YouTube, Amazon and Wikipedia. Now the rules will apply to nearly all online platforms, marketplaces and “intermediaries” with users in the 27-nation bloc. It includes popular ones such as eBay and OnlyFans that escaped being classed as the biggest online platforms requiring extra scrutiny. Platfoms must explain content moderation decisions, and will have to tell users why their post was taken down or account suspended.
Persons: Margrethe Vestager, Elon Organizations: Facebook, YouTube, DSA, eBay, Member, EU Locations: Member States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailX followed none of the safeguards from Digital Services Act after Oct. 7 attacks, says EU's VestagerMargarethe Vestager, European Union Commissioner for Competition, joins 'Squawk on the Street' to discuss who to blame for the lack of child safety on social media, if Europe has laid a blueprint for how social media should be regulated in the U.S., and much more.
Persons: EU's Vestager Margarethe Vestager Organizations: Digital Services, European Union, Competition Locations: Europe, U.S
Brussels — Google’s €2.42 billion ($2.7 billion) antitrust fine in the European Union should be upheld by Europe’s top court, an adviser to the court said Thursday, dealing a blow to the world’s most popular internet search engine. Juliane Kokott, Advocate General at the Court of Justice of the European Union, said judges should confirm the fine. “Google … was leveraging its dominant position on the market for general search services to favor its own comparison shopping service by favoring the display of its results,” she said. Irrespective of its appeal, the company continues “to invest in our remedy, which has been working successfully for several years, and will continue to work constructively with the European Commission,” a spokesperson said. Google has also challenged two other EU rulings, regarding its Android mobile operating system and AdSense advertising service.
Persons: Juliane Kokott, , Margrethe Vestager, Sundar Pichai Organizations: European Union, European Commission, Google, Justice, Big Tech Locations: Brussels, European, United States
Microsoft 's multibillion-dollar investment in artificial intelligence firm OpenAI could face a full-blown merger investigation in the European Union, EU officials signaled Tuesday. The European Commission, which is the executive arm of the EU, said it was embarking on a competition investigation looking at the markets for virtual worlds and generative artificial intelligence. "The European Commission is checking whether Microsoft's investment in OpenAI might be reviewable under the EU Merger Regulation," the commission said in a statement on Tuesday. "Virtual worlds and generative AI are rapidly developing," Margrethe Vestager, European commissioner for competition, said in a statement Tuesday. The company has integrated some OpenAI technology into its Office, Bing and Windows products, and provides OpenAI with its own Azure cloud computing tools.
Persons: Margrethe Vestager Organizations: Microsoft, European Union, European Commission, European, EU, CNBC, Bing Locations: Redmond, Washington, OpenAI
LONDON (AP) — Apple might end up on the hook after all for billions of euros in back taxes to Ireland in the latest twist in a longrunning European Union dispute, following a legal opinion Thursday from an adviser to the bloc's top court. The ECJ's opinions aren’t legally binding, but are often followed by the court. The Court of Justice is expected to come up with its legally binding decision next year. “We thank the court for its time and ongoing consideration in this case," Apple said in a prepared statement. "The General Court’s ruling was very clear that Apple received no selective advantage and no State aid, and we believe that should be upheld.”The European Commission declined to comment.
Persons: Giovanni Pitruzzella, Tim Cook, Donald Trump, Margrethe Vestager, , Pitruzzella, , Apple, Court’s Organizations: European Court of Justice, Apple, , European Commission, Court of Justice, European Locations: Ireland, European, U.S
The European Commission in its 2016 decision said Apple benefited from two Irish tax rulings for more than two decades that artificially reduced its tax burden to as low as 0.005% in 2014. "The judgment of the General Court on 'tax rulings' adopted by Ireland in relation to Apple should be set aside," he said in a non-binding opinion. "It is therefore necessary for the General Court to carry out a new assessment," Pitruzzella said. Her biggest legal victory to date came in September when the General Court upheld her decision against a 700-million-euro Belgian tax scheme for 55 multinationals. Vestager is currently investigating IKEA brand owner Inter IKEA's Dutch tax arrangement in a case dating from 2017, Nike's (NKE.N) Dutch tax rulings and Finnish food and drink packaging company Huhtamaki's (HUH1V.HE) tax rulings granted by Luxembourg.
Persons: Mike Blake, Margrethe Vestager's, Apple, Apple's, Giovanni Pitruzzella, CJEU, Pitruzzella, Michael McGrath, Court’s, Vestager, Stellantis Organizations: REUTERS, Rights, EU, Apple, European Commission, of Justice, Justice, Court, Ireland, Dublin, Starbucks, IKEA, Inter IKEA's, Thomson Locations: La Jolla , California, U.S, Rights LUXEMBOURG, Ireland, Belgian, Luxembourg
But Advocate General Giovanni Pitruzzella at the European Court of Justice (ECJ) — the EU’s highest court — disagreed, saying judges should set aside the General Court ruling and refer the case back to the lower tribunal. “The judgment of the General Court on ‘tax rulings’ adopted by Ireland in relation to Apple should be set aside,” he said in a non-binding opinion. He said the General Court had committed a series of errors in law. “It is therefore necessary for the General Court to carry out a new assessment,” Pitruzzella said. Her biggest legal victory to date came in September when the General Court upheld her decision against a €700 million ($749 million) Belgian tax scheme for 55 multinationals.
Persons: Margrethe Vestager, Apple, Giovanni Pitruzzella, , , ” Pitruzzella, Michael McGrath, Court’s, Vestager Organizations: Apple, European Commission, European Court of Justice, Justice, Court, Ireland, Dublin, Stellantis, Starbucks, Belgian Locations: Luxembourg, Ireland
Setback for Apple as EU court advisor backs EU's $14 bln tax order
  + stars: | 2023-11-09 | by ( ) www.cnbc.com   time to read: +1 min
Apple iPhone 15 series devices are displayed for sale at The Grove Apple retail store on release day in Los Angeles, California, on September 22, 2023. The tax case against Apple was part of EU antitrust chief Margrethe Vestager's crackdown against deals between multinationals and EU countries which regulators saw as unfair state aid. The General Court in 2020 upheld Apple's challenge, saying that regulators had not met the legal standard to show Apple had enjoyed an unfair advantage. Advocate General Giovanni Pitruzzella at the EU Court of Justice (CJEU) said CJEU judges should set aside the General Court ruling and refer the case back to the lower tribunal. "The judgment of the General Court on 'tax rulings' adopted by Ireland in relation to Apple should be set aside," he said in a non-binding opinion.
Persons: Margrethe Vestager's, Apple, Apple's, Giovanni Pitruzzella, CJEU Organizations: Apple, Grove Apple, European Commission, EU, of Justice Locations: Los Angeles , California, Ireland
BRUSSELS, Sept 20 (Reuters) - European Union's second-top court on Wednesday backed an EU competition regulator's decision against a 700-million-euro ($748 million) Belgian tax scheme for 55 multinationals, in a major win for EU antitrust chief's crackdown on sweetheart tax deals. The Luxembourg-based General Court had in 2019 annulled Margrethe Vestager's decision after Belgium and about 30 of the companies challenged it. Beneficiaries of the Belgian scheme that dated from 2005 included U.S. manufacturer Magnetrol, oil company BP (BP.L), chemical producer BASF (BASFn.DE), Wabco, Cellio, Atlas Copco (ATCOa.ST) and Belgacom, now Proximus (PROX.BR) . The EU Court of Justice, Europe's top court, in 2021 however sided with the EU competition enforcer and referred the case back to the lower tribunal. Belgium can still appeal to the EU Court of Justice.
Persons: Margrethe Vestager's, Atlas, Europe's, Foo Yun Chee, Bart Meijer, Tomasz Janowski Organizations: Belgian, EU, BP, BASF, Justice, Belgian Finance Ministry, Thomson Locations: BRUSSELS, EU, Luxembourg, Belgium, Brussels, Amsterdam
A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. Google turned to the Court of Justice of the European Union (CJEU) after the General Court in 2021 threw out its challenge to the fine levied by EU antitrust chief Margrethe Vestager in 2017. Google lawyer Thomas Graf said the European Commission had failed to show that the company's different treatment of rivals was abusive and that different treatment alone was not anti-competitive. "Qualifying every different treatment, and in particular different treatment of first party and third party businesses, as abusive would undermine competition. Commission lawyer Fernando Castillo de la Torre dismissed Google's arguments, saying the company had used its algorithms to unfairly favour its price comparison shopping service, in breach of EU antitrust laws.
Persons: Paresh Dave, Margrethe Vestager, Thomas Graf, Graf, Fernando Castillo de la Torre, Google's, Foo Yun Chee, David Evans Organizations: REUTERS, Google, Justice, European Union, European Commission, v, Thomson Locations: Mountain View , California, U.S
The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Also interested are the politically non-affiliated Italian central banker Daniele Franco, Poland's right-wing former Finance Minister and current EIB Vice President Teresa Czerwinska, and Sweden's socialist former Energy Minister and also current EIB Vice President Thomas Ostros. "We can say we are really spoilt for choice because all the candidates are excellent," German Finance Minister Christian Lindner told reporters on Thursday. The EIB is the lending arm of the EU and is active in 160 countries offering loans, guarantees, equity investments and advisory services. Germany's Deputy Central Bank Governor Claudia Buch and her Spanish counterpart Margarita Delgado are both in the running.
Persons: Eric Vidal, Vincent van Peteghem, Germany's Werner Hoyer, Margrethe Vestager, Nadia Calvino, Daniele Franco, Poland's, Teresa Czerwinska, Thomas Ostros, Christian Lindner, Central Bank Governor Claudia Buch, Margarita Delgado, Buch, Vestager, Emmanuel Macron, Richard Chang Organizations: European Investment Bank, Reuters, Rights, Belgian, Union, European Commission, Finance, Energy, European Central Bank, Germany's, Central Bank Governor, SSM, Thomson Locations: Luxembourg, Rights BRUSSELS, Italian, Spanish, EU, Paris, Spain
New boss will be EIB’s chance to stay relevant
  + stars: | 2023-09-07 | by ( Rebecca Christie | ) www.reuters.com   time to read: +5 min
Flags are seen behind the logo of the European Investment Bank in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal Acquire Licensing RightsBRUSSELS, Sept 7 (Reuters Breakingviews) - The European Investment Bank has a chance to remake itself when it gains a new leader next year. The EIB has been making infrastructure loans since 1958, and now channels some 65 billion euros in annual financing to the economy. To do that, the next EIB chief will need to let the bank shoulder more risk, as suggested by Vestager on Thursday. By comparison, the World Bank has $240 billion loans outstanding.
Persons: Eric Vidal, Werner Hoyer, Nadia Calviño, Denmark’s Margrethe Vestager, Daniele Franco, Teresa Czerwińska, Thomas Östros, Vestager, Margrethe Vestager, Spain’s Nadia Calviño, Poland’s Teresa Czerwińska, Italy’s Daniele Franco, Sweden’s Thomas Östros, Denmark’s Vestager, Neil Unmack, Streisand Neto Organizations: European Investment Bank, Reuters, Rights, Spanish, World Bank, AAA, European Union, Financial Times, European Investment, Union, Thomson Locations: Luxembourg, Rights BRUSSELS, Italian, Europe, Ukraine, France, Spain
For the Biden administration, “the only thing they can pretty much do to counteract Saudi cuts is to bring more oil into the market from other countries,” León said. “Iran and Venezuela are the best candidates,” he added, even if it’s politically unpalatable to fully reopen talks with them. Domestic producers of oil from shale won’t fill the void in the short term. The SPAC buying Donald Trump’s social network gets more time for its deal. Shareholders in Digital World Acquisition Corporation voted to give the firm 12 more months to close its merger with Truth Social.
Persons: Biden, ” León, León, , Margrethe Vestager, Didier Reynders, Vestager, Donald Trump’s Organizations: European Investment Bank, European Commission, Truth Locations: Iran, Venezuela, States, Washington
Adobe's Figma deal faces EU competition investigation
  + stars: | 2023-08-07 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/IllustrationBRUSSELS, Aug 7 (Reuters) - Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma could reduce competition in global markets for interactive product design tools and also shut out rivals, EU antitrust regulators said on Monday. The European Commission said it opened a full-scale investigation into the deal after a preliminary review triggered concerns, confirming a Reuters story last month. The deal would remove an important rival and could allow Photoshop maker Adobe to restrict competition in the global markets for supply of interactive product design tools, the EU antitrust watchdog said. It said the acquisition could also affect Figma's potential for growth into an effective competitor to Adobe's asset creation tools and effectively reduce competition in interactive product design tools by bundling Figma with Adobe's Creative Cloud suite. The EU competition enforcer said it would decide by Dec. 14 whether to clear or block the deal.
Persons: Dado Ruvic, Competition Margrethe Vestager, Adobe, Foo Yun, Sharon Singleton, David Goodman Organizations: REUTERS, European Commission, Reuters, Tech, Zoom Video Communications, Adobe, Competition, EU, Thomson Locations: BRUSSELS
The U.S. tech giant has racked up 2.2 billion euros ($2.5 billion) in EU antitrust fines in the previous decade for practices in breach of EU competition rules, including tying or bundling two or more products together. Teams, which Microsoft added to Office 365 in 2017 for free to eventually replace Skype for Business, soared in popularity during the pandemic especially after it offered video conferencing. Reuters reported earlier this month that the EU antitrust watchdog was set to open a probe after Microsoft declined to offer bigger price cuts on its Office without Teams. German rival alfaview, which last week filed a complaint similar to Slack's with the EU executive, welcomed the EU investigation. EU fines for antitrust violations can go as high as 10% of a company's global turnover.
Persons: Margrethe Vestager, Niko Fostiropoulos, Foo Yun Chee, Sudip Kar, Gupta, David Evans, Jane Merriman Organizations: Microsoft, European Union, European Commission, Salesforce, Skype, Business, Reuters, EU, Commission, Thomson Locations: BRUSSELS, U.S, Europe
American citizen and Yale professor Fiona Scott Morton decided not to take up a key job in the heart of the European Union after facing significant backlash from politicians in the bloc. Scott Morton had been nominated earlier this month to take the role of chief competition economist, a prominent role in the team of Margrethe Vestager, the EU's competition chief. I have determined that the best course of action is for me to withdraw and not take up the Chief Economist position," she said in a letter to Vestager shared online Wednesday morning. The EU's competition chief faced intense questioning from European lawmakers Tuesday for nominating Scott Morton. The criticism focused on her nationality (the fact that she isn't European) and her previous work consulting for Big Tech.
Persons: Fiona Scott Morton, Scott Morton, Margrethe Vestager, Vestager, Emmanuel Macron Organizations: Yale, European Union, Big Tech Locations: Brussels
Vestager said she accepted Scott Morton's decision to quit with regret but economists warned that the debacle will leave the bloc's competition commissioner weakened. Vestager should have been more transparent on possible conflicts of interest, said EU lawmaker Paul Tang from the Netherlands. That didn't help the candidature of Scott Morton," he said. Vestager's defence of her choice at a hearing on Tuesday was disappointing, said EU lawmaker and French lawyer Stephanie Yon-Courtin, who opposed Scott Morton's appointment. The issue with this nomination was neither American nor French, it is a matter of European interest," she said.
Persons: Margrethe Vestager, Fiona Scott Morton, Scott Morton, Emmanuel Macron, Vestager, Scott Morton's, Paul Tang, Stephanie Yon, Alexandre De Streel, Jean Tirole, Jacques Cremer, Foo Yun Chee, Elaine Hardcastle Organizations: Union, Apple, Microsoft, Commission, EU, U.S . Department of Justice, Big Tech, European Union, Amazon, Namur University, Toulouse School of Economics, Thomson Locations: BRUSSELS, U.S, France, Yale, Netherlands, American
Executive Vice President Margrethe Vestager is answering questions from lawmakers on considering giving a top job in her cabinet to a U.S. citizen. Europe's powerful competition chief, Margrethe Vestager, is under fire for hiring an American citizen for one of her team's top jobs. Vestager, who's been leading investigations into Big Tech for almost 10 years, is due to answer questions from European lawmakers Tuesday after appointing Fiona Scott Morton, a professor at the Yale School of Management, as chief competition economist at the European Commission, the EU's executive arm. Laurence Boone, France's secretary for Europe, said on Twitter that she had spoken with Vestager about this nomination, adding that "Europe has many talented economists." "I invite the European Commission to reconsider its choice," he added.
Persons: Margrethe Vestager, who's, Fiona Scott Morton, Laurence Boone, Jean, Noël Organizations: Big Tech, Yale School of Management, European Commission, Twitter, Commission, CNBC Locations: Europe, Brussels
BRUSSELS, July 18 (Reuters) - U.S. economist Fiona Scott Morton's experience from her consulting work for Big Tech, will stand her in good stead in her new job as chief economist at the European Commission, EU antitrust chief Margrethe Vestager told EU lawmakers on Tuesday as she defended her choice. "I think it's a good thing to come with experience, she knows our system inside out," Vestager said, addressing concerns of conflicts of interest due to Scott Morton's consulting work for Big Tech. Reporting by Foo Yun CheeOur Standards: The Thomson Reuters Trust Principles.
Persons: Fiona Scott Morton's, Margrethe Vestager, Vestager, Scott Morton's, Foo Yun Chee Organizations: Big Tech, European Commission, Thomson Locations: BRUSSELS
BRUSSELS, July 18 (Reuters) - French President Emmanuel Macron on Tuesday criticised EU antitrust chief Margrethe Vestager's decision to hire a U.S. economist over a European to help oversee Big Tech, adding her previous work could lead to conflicts of interest. Macron added he was "attached to reciprocity", and noted that the U.S. and China would not have appointed an overseas national in such a role. Scott Morton will advise the European Commission on its investigations into Big Tech and its enforcement of a series of landmark rules to rein in tech giants. Macron pointed to her previous work for "many companies" as something that could also result in conflicts of interest. She said previous chief economists at the Commission had also done consulting work without posing any issues.
Persons: Emmanuel Macron, Margrethe Vestager's, Vestager, Fiona Scott Morton, Barack Obama's, Macron, Scott Morton, Jean Tirole, Scott Morton's, Sudip Kar, Bernadette Baum, Sharon Singleton, Jan Harvey Organizations: Big Tech, U.S . Department of Justice, European Union, Commission, Thomson Locations: BRUSSELS, Europe, China
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