Apple's grip on the App Store is loosening in Europe
Epic Games, the maker of Fortnite, announced on Friday that it will launch an alternative app store for iPhone users in Europe. This week, Spotify began directing European users to register for subscriptions on its website through its iOS music streaming app, which was previously not allowed. In addition, Apple announced on Wednesday that it plans to allow developers in the United States and several other countries to offer secure contactless payments through their apps on the iPhone. Apple had previously promised to open up contactless payment technology in Europe to resolve an antitrust case in the European Union.
Apple Halts Rollout of AI Features in Europe Due to Regulatory Uncertainties
Apple has announced that it will not be rolling out its suite of AI tools, branded as "Apple Intelligence," in the European Union due to regulatory uncertainties brought about by the Digital Markets Act (DMA). The DMA targets large digital platforms and aims to ensure fair and competitive digital markets. Violating the act could result in fines of up to 10% of the offending company's worldwide annual revenue. Apple said it is concerned that the interoperability requirements of the DMA could force it to compromise the integrity of its products in ways that risk user privacy and data security.
More than half of the Fortune 100 uses Apple’s Vision Pro headset
Spatial computing in the industrial metaverse appears to be paying off for the company that Steve Jobs built.
Victoria VR plans to release cryptocurrency-focused Metaverse app on Apple Vision Pro
Victoria VR, a developer of cryptocurrency and virtual reality (VR), plans to release a metaverse application focused on cryptocurrency on Apple's Vision Pro. The virtual world of this application is composed of "hyper-realistic graphics and immersive gameplay," which will complement the technology of Vision Pro.
Bitcoin Records 75% Higher Daily Trading Volume Than Apple
Bitcoin has performed well this year, despite earlier struggles due to economic conditions such as rising interest rates. When compared to traditional investments like Apple, Bitcoin's daily trading volume has been notably higher, with an average of $22.52 billion compared to Apple's $10.14 billion. This difference in trading volume highlights Bitcoin's resilience and its potential as an alternative investment to traditional options like gold. The fact that Bitcoin surpassed Apple's trading volume signifies that the asset cannot be dismissed merely as a market spectator, and may indicate a possible shift within the financial landscape.
Apple sued by Venmo and Cash App customers over alleged antitrust violations
Apple is facing a proposed class action lawsuit filed by Venmo and Cash App customers who claim that the company abused its market power to limit competition for mobile peer-to-peer payments, resulting in consumers paying higher prices. The lawsuit alleges that Apple violated US antitrust law through its agreements with Venmo and Cash App, which limit feature competition and prohibit the use of decentralized cryptocurrency technology. The plaintiffs are seeking an injunction that could force Apple to divest or segregate its Apple Cash business. This lawsuit adds to Apple's recent antitrust troubles, including a ruling in September that payment card issuers can sue Apple over alleged anticompetitive practices involving its Apple Pay mobile wallet.
Apple Is Teaming Up With Goldman Sachs To Develop a Stock Trading App for Its Devices
Tech giant Apple is working with Goldman Sachs to develop a stock trading app for its devices. The tech giant plans to compete with companies like Robinhood, Square, and other similar companies that offer BTC and cryptocurrency to their customers. Some users on social media platforms have claimed that if the platform is exposed, Bitcoin (BTC) and other cryptocurrencies may be available on the platform. The project is currently on hold and there are no immediate plans to launch it. However, a source close to the project said that the platform's user interface and infrastructure are ready.
XLoader Malware Masquerades As ‘OfficeNote’ App To Steal Sensitive Information From Mac Users
According to the latest report from network security company SentinelOne, the new version of the XLoader malicious tool has been recompiled using C and Objective C languages and signed by Apple developers. Attackers further disguised the XLoader malicious tool as a Microsoft Office productivity application called "OfficeNote" and distributed it through an application called "OfficeNote.dmg".
Analyst: Don't be fooled by a temporary drop in inflation, holders of scarce assets like Apple stock and Bitcoin should hold on tight
Cointelegraph analyst and writer Marcel Pechman analyzed the impact of the Federal Reserve's balance sheet and how it expanded its assets by $5 trillion between December 2019 and April 2022. Pechman pointed out that the expansion period coincided with a 38% drop in the S&P 500 index. Additionally, as the stock market index hit a historic high of 4800 points, the Federal Reserve's balance sheet surpassed the $8.9 trillion mark.
Pechman stated that the problem lies in the massive deficit of the US Treasury, as government spending exceeds income and taxes. Therefore, it needs to start rolling over some of its debt instead of letting it mature, making it likely that it will no longer be able to continue reducing its balance sheet, which has been a huge factor in reducing inflation.
Pechman believes that once the Federal Reserve is forced to expand its balance sheet again, inflation will ultimately be most affected. He advises those holding scarce assets such as Apple stocks, land, gold, and Bitcoin to hold on tight and not be deceived by temporary inflation drops.
US Supreme Court Justice Temporarily Halts Ruling in Epic Games vs Apple Lawsuit
U.S. Supreme Court justice has temporarily halted the Ninth Circuit Court of Appeals' ruling in the three-year lawsuit between Epic Games and Apple. This allow Apple continue enforcing its current App Store rules which not allowing iOS apps to offer external payment options.
