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Weekly Roundups

Amazon and Apple Face Antitrust Investigations

By MBN Staff | Thu, 06/18/2020 - 12:50

This week, the European Union (EU) began a series of antitrust investigations against Apple's App Store, in addition to the payment system used by the company founded by Steve Jobs, Apple Pay, over accusations that the technology giant denies access to the payment system in some cases and concerns regarding limited access to the fast payment feature on iPhones. The EU also opened a second investigation against the App Store arguing that Apple forces application developers to use the company's purchasing system, in addition to charging them a 30 percent commission and preventing iPhone and iPad users from learning about other forms of payment for digital services.

"It is disappointing the European Commission is advancing baseless complaints from a handful of companies who simply want a free ride and do not want to play by the same rules as everyone else,” Apple replied in a statement. 

Meanwhile, in the US, authorities in Washington and California are analyzing whether Amazon uses its platform to give its own products an advantage over third-party sellers. During 1Q20, Amazon reported e-commerce sales of US$36.7 billion, 25 percent higher than the same period in 2019. Currently, Amazon represents 38 percent of the e-commerce market in the US and still has an opportunity to grow, as online grocery sales through its Whole Foods stores have yet to exploit, according to an analysis by The Motley Fool.

More news below:

  • As more companies turn to credit amid the COVID-19 pandemic, LendInc’s digital approach has helped it seize these opportunities. “We have seen a 25 to 35 percent increase in credit applications. It is clear that due to the current situation, credit risk has also increased,” told to MBN LendInc’s General Director Gustavo Romero.

  • In April 2020, Mexicans withdrew 49 percent less cash compared to the same month in 2019. In May 2020, they withdrew 56 percent less than a year earlier, according to a report released by Fintonic.

  • Spotify signed a deal with AT&T’s Warner Bros and DC Entertainment, which means it will soon stream original podcasts featuring characters like Batman, Joker, Superman or Lex Luthor exclusively for the streaming platform. 

  • This week, Brazil became the first country to release WhatsApp payments, a function that allows users to transfer money between family and friends, as well as pay businesses.

  • Twitter announced it is testing a new tool called 'Twitter- your own voice: tweet voice messages’, which allow users to tweet a voice message. For now, the tool will only be available to a limited number of people on Twitter with iOS devices.

MBN Staff MBN Staff MBN staff