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On Friday, Axios Media Inc. reported a document acquired by tech watchdog group Tech Transparency Project which indicates that multiple U.S. states were investigating Apple (AAPL) due to deceptive trade practices.
According to the report, details are still unclear on how Texas's Attorney General Ken Paxton and some multi-state investigators found out that Apple had broken consumer protection laws. It also stated that it might lead to the latest lawsuit against Apple.
Apple's Chief Executive Officer Tim Cook would testify before the U.S. House of Judiciary Committee on Monday (July 27).
"In the bigger picture, this news likely represents just a foretaste of what is likely to come to post the November U.S. elections by way of stepped-up antitrust/anti-monopoly investigations of 'big tech', including Google and Facebook, as well as EU-orchestrated efforts for a new digital tax regime for global technology behemoths," National Australia Bank's Economist Ray Attrill stated in an interview.
Apple's shares were down by 4.6% on Wall Street after the morning trade.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
SensorTower announced on Wednesday that Apple (AAPL) removed more than 2,500 games from the China App Store in the first week of July. The move came after the U.S. tech giant closed a loophole to comply with China’s license requirements. Apple ...
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