The European Union has imposed fines totaling € 700 million ($ 797 million) on Apple and Meta companies as part of the first implementation of the EU’s historical digital competition law. EU is unjustifiably targeting US companies. The European Commission, the EU Executive Body, announced on Wednesday that a fine of 500m euros was fined on Apple (AAPL) and 200m euros on Facebook’s parent company META. Joel Kaplan, head of Meta’s global affairs, criticized the EU decision, accusing her of trying to “face successful US businesses”. “This is not just the fine. The Commission, forcing us to change our business model, essentially imposes a duty of many billions of dollars on Meta, while forcing us to offer a inferior service, “Kaplan added. Research […]
Source: News Beast
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