Executive Vice-President of the European Commission for a Europe fit for the Digital Age (Competition), Margrethe Vestager, holds a press conference on “Apple on App Store rules for music streaming providers” in Brussels, Belgium on April 30, 2021. (Photo by Dursun Aydemir/Anadolu Agency via Getty Images) Dursun Aydemir | Anadolu | Getty Images The European … Read more
The SpaceX logo is shown on a Falcon 9 rocket as it is prepared for launch to carry NASA’s SpaceX Crew-8 astronauts Matthew Dominick, Michael Barratt, and Jeanette Epps, and Roscosmos cosmonaut Alexander Grebenkin to the International Space Station at the Kennedy Space Center, in Cape Canaveral, Florida, U.S., March 2, 2024. Joe Skipper | … Read more
The Justice Department’s top antitrust official said Friday that Apple shareholders should encourage the company to “compete on the merits,” one day after the government sued the iPhone maker over allegedly anticompetitive practices. “Competition on the merits is good for everybody,” Jonathan Kanter, assistant attorney general for antitrust, said on CNBC’s “Squawk Box.” “Good for … Read more
Apple CEO, Tim Cook, testifies before the Senate Homeland Security and Governmental Affairs Committee’s Investigati Getty Images The U.S. Department of Justice sued Apple on Thursday, accusing it of using the iPhone’s market power to cut off rivals, kicking off a multi-year process involving hundreds of lawyers and threatening Apple’s “walled garden” business model. If … Read more
The Department of Justice sued Apple on Thursday, saying its iPhone ecosystem is a monopoly that drove its “astronomical valuation” at the expense of consumers, developers and rival phone makers. The lawsuit claims that Apple’s anti-competitive practices extend beyond the iPhone and Apple Watch businesses, citing Apple’s advertising, browser, FaceTime and news offerings. “Each step … Read more
A landmark class-action lawsuit may change the way Americans buy and sell homes. The National Association of Realtors agreed to a $418 million settlement last week in an antitrust lawsuit where a federal jury found the organization and several large real-estate brokerages had conspired to artificially inflate agent commissions on the sale and purchase of … Read more
Representative Cathy McMorris Rodgers (R-WA), chair of the House Energy and Commerce Committee speaks during the hearing with TikTok CEO Shou Zi Chew before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill on March 23, 2023 in Washington, DC. Chip Somodevilla | Getty Images WASHINGTON — Bipartisan leaders … Read more
The Federal Trade Commission announced on Wednesday it is refunding $4.1 million to 27,584 consumers who fell victim to student debt forgiveness scams. The action follows a 2019 complaint the FTC made against the operators of Mission Hills Federal and Federal Direct Group, alleging the organizations have been tricking student loan borrowers out of their … Read more
Securities and Exchange Commission Chairman Gary Gensler testifies before Congress on July 19, 2023. Win Mcnamee | Getty Images News | Getty Images ‘A sensible rule to protect investors’ “Climate risk is financial risk,” Elizabeth Derbes, director of financial regulation and climate risk for the Natural Resources Defense Council, said in a written statement. “This … Read more
The days of double digit late fees for late credit card payments may be coming to an end. On Tuesday, the Consumer Financial Protection Bureau finalized a rule that will cap credit card late fees at $8. Currently, card users are typically hit with a $32 fee for late payments, according to the agency. The … Read more
