00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple is in urgent negotiations with EU regulators to avoid escalating fines for breaching the Digital Markets Act.
00:08The company was previously fined 500 million euro and faces additional penalties,
00:13potentially up to 5% of daily global revenue.
00:15It fails to comply by Thursday.
00:17Talks focus on Apple's steering rules, which limit developers for directing users to external offers,
00:22and its controversial core technology fee, charging after 1 million annual installs.
00:27Apple is expected to offer concessions that could delay further penalties, while regulators assess changes.
00:32The dispute unfolds in wider EU-US trade tensions and scrutiny of big tech.
00:37For all things money, visit Benzinga.com.
Comments