EU fines Apple $2 billion over its streaming music practices

Marketplace All-in-One

Marketplace

Business, News

4.5 • 1.4K Ratings

🗓️ 4 March 2024

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

EU says Apple behaved in anti-competitive ways; JetBlue, Spirit call off their merger plan; some OPEC+ nations further extend oil production cuts; WTO maintains moratorium on streaming content taxes.

Transcript

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0:00.0	The EU slaps Apple with a big fine over its streaming music practices.
0:05.0	I'm Nova Safo with the Marketplace Minute.
0:08.0	The European Union is fining Apple $2 billion for favoring its own streaming music service
0:12.0	and making it difficult for competitors
0:14.3	to offer alternatives. This comes after a complaint from Spotify. Apple says Define
0:19.7	ignores the healthy competition in the streaming music business.
0:23.0	JetBlue and Spirit Airlines are calling off their merger plans.
0:27.0	A judge blocked the deal in January agreeing with the Justice Department that it violated antitrust law.
0:32.0	The Airlines had appealed the ruling. that had
0:33.7	appealed the ruling.
0:34.7	Some nations in the OPEC Plus cartel are extending oil production cuts
0:38.8	through June.
0:39.9	This includes Saudi Arabia, Russia, and the United Arab Emirates.
0:43.2	They're attempting to lift oil prices.
0:45.3	The World Trade Organization has extended a moratorium on taxes on digital media,
0:50.3	such as movies and video games. South Africa and India had offered separate proposals
0:55.0	to end the moratorium so they could start taxing streaming content.
0:59.9	I'm Novasafo with a marketplace minute.

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