
Apple, Meta Expected to Pay Fines for Violating Regulations

Apple and Meta Platforms are expected to pay small fines for allegedly violating historic regulations meant to limit their influence.
Since last year, the European Commission has been targeting both businesses for possible violations of the Digital Markets Act, which could cost them up to 10% of their yearly worldwide sales.
To enable smaller businesses to compete with Big Tech, the legislation, which was signed into law in May 2023, aims to facilitate users' switching between competing online services, such as social networking platforms, web browsers, and app stores.
The EU antitrust enforcer explains that the purpose of small fines is to ensure that the corporations follow the law, not to punish them.
Other factors include the geopolitical environment and the brief period of the claimed violations—the DMA went into effect in 2023.
In a memo last month, US President Donald Trump threatened to put tariffs on nations that fine US corporations. The European Union has denied disparaging US IT companies.
Also Read: Has India Finally Found a Solution for its Clean Energy Woes?