India Denies Apple’s Request to Halt Antitrust Investigation
In a significant blow to Apple Inc., the Indian government has officially rejected the tech giant's request to pause a forthcoming antitrust report. The investigation, which was initiated by India’s Competition Commission (CCI), stems from allegations that Apple has engaged in anti-competitive practices within its App Store.
Continue readingProsus Reaps $2 Billion Windfall from Swiggy's IPO Valuation Surge
In a significant financial development, Prosus has reported a profit of $2 billion from its investment in Indian food delivery giant Swiggy, coinciding with the company's recent public offering (IPO). Swiggy, which has rapidly expanded across the Indian subcontinent, saw its valuation soar to an impressive $10.7 billion post-IPO, offering substantial returns for early backers like Prosus.
Continue readingApple Faces Legal Challenge in China Over App Store Practices
In a significant legal development, technology giant Apple is embroiled in a lawsuit in China that bears similarities to the notorious legal tussle with Epic Games over the popular game Fortnite. This case marks Apple's ongoing struggle to maintain control over its lucrative App Store model, which has drawn scrutiny from developers and regulators worldwide.
Continue reading