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The Biden administration takes aim at Apple and Google

Stock Markets Feb 02, 2023 00:44
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By Sam Boughedda 

According to AP News, on Wednesday, a finding contained in a Commerce Department report released by the administration has resulted in the Biden administration taking aim at Apple (NASDAQ:AAPL) and Alphabet's (NASDAQ:GOOGL) Google.

The publication states that the administration is looking at the two tech giants, believing that their mobile app stores stifle competition.

The Commerce Department report was released on Wednesday, with President Joe Biden set to resume his competition council for an update on measures to promote competition and lower prices.

The report, which comes from the Commerce Department's National Telecommunications and Information Administration, reportedly states that the current app store, which is model dominated by Apple and Google, is "harmful to consumers and developers" as it inflates prices and reduces innovation.

It is also said to add that Apple and Google have a stranglehold on the market, suppressing competition.

AP News quotes the report as saying that the policies Apple and Google have in place in their mobile app stores "have created unnecessary barriers and costs for app developers, ranging from fees for access to functional restrictions that favor some apps over others."

Representatives from Apple and Google separately told AP News that they disagree with the report.

The Biden administration takes aim at Apple and Google
 

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