EUR

The Paris Commercial Court on Monday fined iPhone maker Apple just over EUR 1 million (nearly Rs. 8 lakh) for imposing abusive commercial clauses on French app developers for access to the company's App Store, the court ruling showed.The ruling, seen by Reuters, said there was no need to order Apple, which has a market value of about $2.1 trillion (nearly Rs. 1,73,57,700 crore), to tweak the App Store's clauses because the European Union's incoming Digital Markets Act would require changes in any case.While tiny in size…

Ireland's data privacy regulator imposed an EUR 265 million (roughly Rs. 2,250 crore) fine on social media giant Facebook on Monday, bringing the total it has fined parent group Meta to almost EUR 1 billion (roughly Rs. 2,250 crore). The penalty resulted from an investigation, started last year, into the discovery of a collated set of personal data that had been scraped from Facebook between May 2018 and September 2019, and made available online. Facebook was also ordered to make a range of corrective measures.Meta said…

ASML, a key supplier of equipment to computer chip manufacturers, on Thursday said it would launch a EUR 12 billion (nearly Rs. 98,380 crore) share buyback programme to run through 2025.In an announcement ahead of an investors' day on Friday, the company said it expects revenue of EUR 30 billion (nearly Rs. 2,45,600 crore) to EUR 40 billion (nearly Rs. 3,27,550 crore) by 2025, up from a previous estimate of EUR 24 billion (nearly Rs. 1,96,500 crore) to EUR 30 billion.The company's 2021 sales totalled EUR 18.6 billion…

An Italian court has suspended a decision on a request by e-commerce giant Amazon to annul a record EUR 1.13 billion (nearly Rs. 9,300 crore) fine imposed by Italy's antitrust watchdog for alleged abuse of market dominance, a court ruling showed on Friday.Italian administrative court TAR del Lazio said it had suspended judgment pending a ruling by the European Union Court of Justice over the case.A legal source said the EU court might rule on the ongoing case before the next summer.Last year, Italy's competition watchdog…

A French court on Thursday substantially lowered a fine against iPhone maker Apple for alleged anti-competitive behaviour to EUR 372 million (nearly Rs. 3,000 crore) from EUR 1.1 billion (nearly Rs. 8,800 crore) previously, two sources with knowledge of the matter told Reuters.The original fine had been imposed by France's antitrust watchdog in 2020 for what it described as Apple's anti-competitive behaviour towards its distribution and retail network.At the time, it was the biggest fine levied by the antitrust regulator,…

The European Union's second-highest court on Wednesday upheld the European Commission's 2018 antitrust decision against Google for using its Android mobile operating system to repeal competition. The General Court confirmed that the search giant had imposed unlawful restrictions on Android phone manufacturers to promote its search engine. The court slightly reduced its fine by 5 percent to EUR 4.125 billion (roughly Rs. 32,800 crore). Still, it is a record fine for an antitrust violation. The Alphabet-owned company,…

Instagram has been reportedly slapped with EUR 405 million (roughly Rs. 3,200 crore) fine on Monday for violating strict European Union data privacy rules. The Meta-owned social media platform has been found to mishandle the personal information of teenagers. The Ireland's Data Protection Commission's investigation allegedly revealed that Instagram displayed the personal information of users between the age of 13 and 17 years. Instagram's parent Meta disagrees with the way the fine was calculated and has expressed its…

Technology investor Prosus said on Friday it would pay up to EUR 1.8 billion (roughly Rs. 14,500 crore) to buy the 33 percent stake in Brazil's iFood from rival Just Eat Takeaway.com that it does not already own. The deal will give Prosus sole control of iFood, considered one of the most attractive food delivery businesses in one of the world's biggest markets. It also gives Takeaway, which is racing to achieve profitability, a vital cash infusion.Prosus said it would pay EUR 1.5 billion (roughly Rs. 12,100 crore) in cash…

Nintendo Switch Pro could be unveiled on June 4 and may carry a price tag of EUR 399 (roughly Rs. 35,300). The Pro version of the Nintendo Switch has been in the news for quite some time now and the latest leaks suggest that the console will debut ahead of Nintendo's June 15 E3 2021 event. Nintendo Switch launched in March of 2017 and has become a popular console over the years. It offers a unique handheld couch gaming experience. But it launched with some compromises which the rumoured Pro variant is expected to…

Intel said it could invest as much as EUR 80 billion (roughly Rs. 6,97,050 crores) over the next decade to boost the European region's chip capacity and will open up its semiconductor plant in Ireland for automakers.Intel CEO Pat Gelsinger, speaking at Munich's IAA auto show, also said the company would announce the locations of two major new European chip fabrication plants by the end of the year.There is speculation about possible production sites, with Germany and France seen as leading contenders while Poland, where…