They're part of changes required under the Digital Markets Act, a set of European Union regulations that six tech companies classed as "gatekeepers" — Amazon, Apple, Google parent Alphabet, Meta, Microsoft and TikTok owner ByteDance.
The DMA is the latest in a series of regulations that Europe has passed as a global leader in reining in the dominance of large tech companies. Tech giants have responded sometimes reluctantly - by changing some of their long-held ways of doing business - such as Apple allowing people to install smartphone apps outside of its App Store.
The new rules have broad but vague goals of making digital markets "fairer" and "more contestable." They are kicking in as efforts around the world to crack down on the tech industry are picking up pace.
Here's a look at how the Digital Markets Act will work:
WHAT COMPANIES HAVE TO FOLLOW THE RULES?
Some 22 services, from operating systems to messenger apps and social media platforms, will be in the DMA's crosshairs.
They include Google services like Maps, YouTube, the Chrome browser and Android operating system, plus Amazon's Marketplace and Apple's Safari Browser and iOS.
Meta's Facebook, Instagram and WhatsApp are included as well as Microsoft's Windows and LinkedIn.
The companies face the threat of hefty fines worth up to 20% of their annual global revenue for repeated violations - which could amount to billions of dollars or even a breakup of their businesses for "systematic infringements.
WHAT EFFECT WILL THE RULES HAVE GLOBALLY?
The Digital Markets Act is a fresh milestone for the 27-nation European Union in its longstanding role as a worldwide trendsetter in clamping down on the tech industry.
This story is from the AppleMagazine #645 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the AppleMagazine #645 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
APPLE BECOMES FIRST TARGET OF EU'S NEW DIGITAL COMPETITION RULES AIMED AT BIG TECH
European Union regulators this week leveled their first charges under the bloc’s new digital competition rulebook, accusing Apple of preventing app makers from pointing users to cheaper options outside its App Store.
THE SUPREME COURT RULES FOR BIDEN ADMINISTRATION IN A SOCIAL MEDIA DISPUTE WITH CONSERVATIVE STATES
The Supreme Court this week sided with the Biden administration in a dispute with Republican-led states over how far the federal government can go to combat controversial social media posts on topics including COVID-19 and election security.
JUDGE PUTS $30 BILLION VISA, MASTERCARD SETTLEMENT ON HOLD, IN SIGNAL OF LIKELY REJECTION
A federal judge said she’s not likely to approve the $30 billion settlement between the payment processing giants Visa and Mastercard and the merchants who say they’ve overpaid on swipe fees.
STILL NEED YOUR LANDLINE? CALIFORNIA REGULATORS JUST STOPPED AT&T FROM PULLING THE PLUG
California’s Public Utilities Commission rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.
PEACE (AND PIECES) OF MIND 'INSIDE OUT 2'
Sequels have been a touchy subject when it comes to Pixar, but it’s hard to deny the natural premise of “Inside Out 2.”
SOUTHWEST AIRLINES SAYS A KEY MEASURE OF PRICING POWER WILL BE WEAKER THAN EXPECTED IN 20
Southwest Airlines, already under pressure from a hedge fund for disappointing financial results, said Wednesday that a key revenue ratio will be weaker than expected because of changes in how consumers book travel.
GM BRINGS IN NEW CEO TO STEER TROUBLED CRUISE ROBOTAXI SERVICE WHILE WAYMO RAMPS UP IN SAN FRANCISCO
General Motors this week named a veteran technology executive with roots in the video game industry to steer its troubled robotaxi service Cruise as it tries to recover from a gruesome collision that triggered the suspension of its California license.
CAR DEALERSHIPS ARE BEING DISRUPTED BY A MULTI-WEEK OUTAGE AFTER CYBERATTACKS ON SOFTWARE SUPPLIER
Car dealerships across North America have faced major disruptions.
ROBINHOOD CEO DISCUSSES THE BROKERAGE'S EVOLUTION LEADING UP TO ANOTHER RIDE ON THE MEME STOCK WAVE
Meme stocks like GameStop are hot again, reviving memories of early 2021 when they turned into a craze that ended up burning many investors along with Robinhood Markets.
FACIAL RECOGNITION STARTUP CLEARVIEW AI SETTLES PRIVACY SUIT
Facial recognition startup Clearview AI reached a settlement in an Illinois lawsuit alleging its massive photographic collection of faces violated the subjects’ privacy rights, a deal that attorneys estimate could be worth more than $50 million.
