--Apple is set to be fined by the European Union's antitrust regulators, making the iPhone maker the first company to be fined under the union's new digital antitrust rules for Big Tech, Bloomberg reported, citing people familiar with the case.
--Watchdogs are preparing the penalty after Apple failed to allow app developers to steer users to cheaper deals and offers outside of the App Store, the report said.
--The European Commission could wage the fine before current EU competition commissioner Margrethe Vestager is set to leave office later this month, but there is a chance it could be pushed back to later this year, Bloomberg reported.
--Apple didn't immediately respond for comment. The European Commission declined to comment.
Full article at https://www.bloomberg.com/news/articles/2024-11-05/apple-to-face-first-eu-fine-under-bloc-s-digital-markets-act
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
11-05-24 1643ET