The European Union has fined Apple (AAPL, Financial) and Meta a total of €700 million for violating technology regulations under the Digital Markets Act (DMA). Apple was fined €500 million for failing to inform users about app options outside the App Store. The EU accused Apple of restricting users from downloading apps through third-party sources, which breaches EU rules. However, the investigation into Apple's browser choice interface has been closed following some adjustments by the company.
Meta was fined €200 million for its "agree or pay" advertising model. Both companies have been given two months to comply with EU regulations or face daily penalties. Apple plans to appeal the fine, claiming it unfairly targets the company and negatively impacts user privacy and security. Meta argues that the EU is undermining American companies and forcing them to alter their business models, resulting in inferior services.
