Apple’s App Store investigated by UK competition watchdog | Business News

Apple’s App Store is being investigated by the UK competition watchdog over concerns about possible unfair practices that could ultimately mean consumers are paying higher prices.

The Competition and Markets Authority (CMA) said its probe into the iPhone and iPad maker was partly prompted by complaints from app developers.

Apple’s terms mean that developers can only distribute their apps on its devices via the App Store and some of them are required to use Apple Pay to charge for add-ons or upgrades.

Apple's iPhone 12 is rumoured to retain the iPhone 11 Pro's triple-lens system
Recent sales were boosted by demand for the new iPhone 12

Each time a consumer buys an app or makes one of these in-app purchases, Apple charges a commission of up to 30%.

Several developers reported that the company’s terms and conditions were unfair and could break competition law, the CMA said.

The watchdog’s chief executive Andrea Coscelli said: “Millions of us use apps every day to

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UK Competition Watchdog Investigates Apple’s App Store | Business News

LONDON (AP) — U.K. authorities have launched an investigation into Apple’s App Store over concerns it has a dominant role that stifles competition and hurts consumers.

The Competition and Markets Authority said Thursday it was looking into “suspected breaches of competition law” by Apple. The announcement adds to regulatory scrutiny of the iPhone maker’s app distribution platform, which is also the subject of three antitrust probes by the European Union’s executive Commission.

Apple said the App Store is “a safe and trusted place for customers” and a “great business opportunity for developers.”

The investigation was triggered in part by complaints from app developers that Apple will only let them distribute their apps to iPhone and iPad users through the App Store. The developers also complained that the company requires any purchases of apps, add-ons or upgrades to be made through its Apple Pay system, which charges up to 30% commission.

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Apple’s Privacy Change Will Hit Facebook’s Core Ad Business. Here’s How.

Facebook Inc.

FB -0.58%

will suffer damage to its core business when

Apple Inc.

AAPL -0.41%

implements new privacy changes, advertising industry experts say, as it becomes harder for the social-media company to gather user data and prove that ads on its platform work.

Facebook warned this week that Apple’s new feature, which is expected to roll out this quarter, will pose risks for its business, but the company hasn’t detailed how it is exposed. Facebook in August pointed to a small corner of its business that facilitates ad placements on third-party sites and apps. It has also played up how the change would hit small developers.

The core of Facebook’s business, its flagship app and Instagram, would be under pressure, too. The Apple change will require mobile apps to seek users’ permission before tracking their activity, restricting the flow of data Facebook gets from apps to help build

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NYC business leaders urge ‘immediate action’ from de Blasio to fix Big Apple’s rot


7 Nasdaq Stocks You Need To Buy Before They Bounce Back Up

Well, that was quite the exciting turn of events. After months of steady gains, stocks have finally gone down. Last Thursday and Friday, the markets saw considerable profit-taking. The Nasdaq Composite in particular got whacked, with that tech-heavy index falling as much as 9% from peak to bottom last week.For all we know, the selling will continue in the days to come. In any case, this is the time for traders to start loading up their watchlists with Nasdaq stocks to buy.Why focus on Nasdaq stocks? Because that’s where the action has been ever since the novel coronavirus outbreak began shutting down the world. With people stuck at home, created an unprecedented move to put many things onto the internet. Healthcare, education and other essential services that remained largely in-person until now are rapidly migrating to virtual

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