EU slaps Meta, Apple with nearly $800m fines

The European Union has fined Apple and Meta a combined 700 million euros for breaching its Digital Markets Act, marking the first penalties under regulations designed to rein in big tech firms. Apple was penalized for restricting app developers' ability to share user information with alternatives, while Meta faced a 200 million fine for its controversial "pay or consent" model forcing users to pay for ad-free access or consent to targeted ads. Both companies criticized the EU decision, describing it as unfair and harmful, and highlighted the potential economic impact on their businesses despite procedural nature of the fines compared to previous antitrust penalties.