EU Hits Apple, Meta with Massive Fines for Antitrust Violations
Summary
The European Union dealt a significant blow to tech giants Apple and Meta, imposing hefty fines of 500 million euros and 200 million euros respectively for violating antitrust regulations, signaling the EU's commitment to reining in the dominance of Big Tech companies despite their objections.
Key Points
- Apple and Meta were fined 500 million euros and 200 million euros respectively by the European Union for breaching the Digital Markets Act
- The fines signal the EU's determination to enforce the new rules aimed at curbing the power of Big Tech companies
- Apple and Meta criticized the EU decisions, with Meta claiming the EU is attempting to handicap successful American businesses